Two local companies completed the first carbon trade transaction in the nation’s history Feb. 14, helping align business practices in Taiwan more closely with international environmental protection norms.
The deal calls for the CTCI Foundation, which provides technical consultation services to business entities, to purchase 194 tons of carbon emission allowances at US$19 per ton from CHC Resources Corp., the largest Portland blast furnace slag cement and slag powder manufacturer in Taiwan.
It is part of an effort by CTCI Foundation to offset its emissions of greenhouse gases in 2009 and achieve carbon neutrality.
“Our goal is to protect the environment,” an unnamed CTCI Foundation official said. “Carbon trading is a hot issue in the world right now and many industries are looking for ways to neutralize the carbon dioxide they let out in hopes of making Earth a better place to live.”
Wong Chao-Tung, chairman of CHC Resources, said his company has been implementing a plan to replace the utilization of cement with furnace slag powder since August 2007. A total of 17,832 tons of cap for carbon reduction in 2008 were calculated, with 194 tons sold to CTCI.
Though the amount of carbon emissions sold was relatively small, the agreement has deep symbolic significance, analysts said, noting that it is an important step in reducing carbon emissions.
The cap and trade system is a popular way to regulate greenhouse gas emissions. Firms set up a cap on permitted emissions and sell spare credits to enterprises that do not have enough allowances to neutralize their carbon emissions.
