OMNI Features｜EU Reaches Budget Reform Agreement / Canadian Growth Fund Invests in Carbon Contracts for Difference / Mayor of Kaohsiung Shares COP28 Experience

European Union Reaches Budget Reform Agreement with 2 Years Effort
Finance ministers from the 27 EU countries, after reaching a compromise in France and Germany, have agreed to loosen budget regulations to stimulate investment while maintaining control over debt and spending. The agreement relaxes fiscal constraints imposed on EU member states during COVID-19, including debt not exceeding 60% of GDP and public deficits not surpassing 3%, among others. While reaffirming the 3% deficit target, it eases the requirements for expenditure cuts, reflecting the post-pandemic reality.

Canadian Growth Fund Invests in Carbon Contracts for Difference Became Global First
"Carbon Contracts for Difference" is one of Canada's net-zero carbon measures, allowing businesses to hedge future carbon prices or carbon credit prices through contractual agreements, reducing the risk of net-zero technology investments. If future carbon prices fall below the contract price, the growth fund compensates companies for the shortfall in carbon credit sales, mitigating risk. If prices exceed the contract price, companies reimburse the difference to the entity providing the contract, sharing profits. The Canadian Growth Fund has announced a $200 million investment in Entropy's Glacier Phase Two Carbon Capture and Storage (CCS) project, committing to purchasing up to 185,000 tons of carbon credits per year for 15 years, with an initial price of CAD 86.50 per ton.

Mayor of Kaohsiung Shares COP28 Experience - Key to Net Zero Transformation is "Talent"
Mayor Chen Chi-Mai of Kaohsiung shared the city's experience participating in COP28, emphasizing that talent is the most critical aspect of driving the net-zero transition. Local governments need to understand international trends and the conclusions of COP28, possessing corresponding professional capabilities in the policy-making and industry collaboration processes.

Reference: cna｜International Trade Administration, Ministry of Economic Affairs (TITA)
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