On July 5, 2023, by Paragraph 2, Article 24 of the Climate Change Response Act (“Act”), the Environmental Protection Administration announced the Regulations over Greenhouse Gas Emissions Offset Programs, a bill to mitigate the impact of greenhouse gas emissions from new or modified sources. The bill elevates carbon offsetting from a suggestion in environmental impact assessment to a blanket legal requirement that applies to all project owners emitting greenhouse gas over a certain volume. The bill also names multiple means of carbon reduction to encourage enterprises to compensate for their emissions. A project owner can be fined up to NT$1 million for each time it violates the carbon offset requirement and fails to meet the deadline set for rectification.
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