MOENV Taiwan Announces the First Batch of 143 VER Projects with Applicable Reduction Methods

The Ministry of Environmental (MOENV) has announced the first batch of 143 Voluntary Emission Reduction (VER) projects with applicable methods. These are intended for businesses or government entities at all levels interested in implementing reduction projects in Taiwan to obtain "carbon credits." MOENV confirms that these carbon credits align with international quality standards.

In a press release, MOENV stated that concerning natural carbon sinks, Taiwan currently has only one applicable reduction method for afforestation and reforestation of carbon sinks, specifically for newly planted forests. No other suitable reduction methods for carbon sinks have been identified.

MOENV emphasizes that proposals for new reduction methods from other industry regulators or domestic experts must undergo public scrutiny before businesses can apply for a reduction quota using those methods. This ensures that the reduction quota reflects high-quality, substantive reduction outcomes.

Under the "Voluntary Greenhouse Gas Reduction Projects," the first batch of applicable reduction methods for voluntary reduction projects comprises 13 categories and 143 items. These have been published on the "Voluntary Greenhouse Gas Reduction Offset Information Platform."

MOENV underscores that Voluntary Greenhouse Gas Reduction Projects must adhere to the Measurable, Reportable, Verifiable (MRV) principles, demonstrating additionality, conservatism, permanence, and avoiding environmental harm and double counting. The projects should also consider the 10 Core Carbon Principles (CCPs) proposed by the Integrity Council for the Voluntary Carbon Market (IC-VCM). Approved by "The GHG Offset Project and Voluntary GHG Reduction Projects Review Council" on December 13 last year, these standards ensure that the reduction quotas issued by MOENV meet international quality standards, achieving real and substantial emissions reductions.

Additionally, MOENV identifies 10 reduction methods, such as replacing lighting fixtures and water chillers, where reduction technologies are mature, calculations are straightforward, and there are implementation cases in Taiwan. These projects can be exempted from third-party verification processes during the application and registration stage. This streamlines administrative procedures without compromising the substantive effectiveness of emissions reduction, encouraging more entities to participate.