Ministry of Environment Convenes the 2nd Carbon Fee Rate Review Council Meeting

On the 26th, the Ministry of Environment convened the 2nd Carbon Fee Rate Review Council meeting, with a total of 19 members in attendance. The Ministry presented a report on the economic impact assessment methods of carbon fee rate and the implementation status of international Carbon Pricing during the meeting. It was decided during the meeting that the rate review should be based on scientific evidence. The Ministry emphasized the need to thoroughly understand the related sub-laws and supporting mechanisms of our country's carbon fee before planning to gradually increase the rates (including general and preferential rates) in stages by 2030. This move aims to provide industries with clear price signals, guiding them to early plan their medium and long-term carbon reduction paths.

Substantive discussions were held on the effectiveness of these measures, and it was decided to have the Climate Change Administration report on carbon pricing cases and related sub-laws for carbon fee collection in neighboring countries such as Japan, South Korea, and Singapore at the next review meeting, based on suggestions made by the council members.

The Ministry supplemented that all attending members agreed that the review of carbon fee rates should be based on sufficient scientific evidence and international experience. According to Article 28 of the Climate Change Response Act, factors such as our country's greenhouse gas emissions status, industrial competitiveness, international carbon pricing, transitional mechanisms, consumer price index, and the assessment of the economic impact on our country should be comprehensively evaluated and considered when proposing carbon fee rate suggestions. Additionally, the rate review council will convene the 3rd meeting after investigating the attendance of each member to continue discussing issues related to carbon fee collection.

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