OMNI Features｜New Zealand to Propose Classification Rules for Financial Industry to Address Climate Change．Denmark Passes Construction Waste Recycling Laws．New Taipei City Introduces Zero Carbon Demonstration Sites to Facilitate Implementation of VPP for Energy Conservation

｜New Zealand to Propose Classification Rules for Financial Industry to Address Climate Change
To promote green and sustainable finance, the New Zealand government has established the specialized Inclusive Trade Action Group (ITAG), comprising experts and industry stakeholders. The objective is to provide comprehensive recommendations by June 2024 and develop a clear classification system to identify economic activities and assets that align with sustainability and low-emission transition. This initiative aims to enhance the confidence of investors, businesses, and market participants while reducing uncertainty surrounding "green" financial products.

｜Denmark Passes Construction Waste Recycling Laws
The Danish parliament has passed new legislation requiring the construction industry to increase the recycling of materials such as bricks and concrete to reduce waste and promote sustainable construction practices. According to the Danish Ministry of the Environment, 40% of Denmark's total waste comes from the construction industry, with approximately 5 million tons incinerated annually. The new law is expected to significantly increase the recycling rates of concrete, wood, and bricks. Despite the higher costs of using recycled building materials, the construction industry can shift toward a more sustainable direction by prioritizing environmental responsibility. The new law will come into effect on July 1, 2024.

｜New Taipei City Introduces Zero Carbon Demonstration Sites to Facilitate Implementation of VPP for Energy Conservation
The Department of Economic Development in New Taipei City, Taiwan, launches the "Promotion Subsidy Program for Zero Carbon Demonstration Sites" to assist businesses in reducing electricity expenses and moving towards zero carbon goals. The program includes the installation of integrated "solar charging and storage" virtual power plants, eligible for subsidies of up to 800,000 NT dollars. Additionally, various energy-saving and energy-generating policies are introduced, such as guidance from the Mobile Net Zero Center and subsidies for solar photovoltaic systems, to encourage businesses to conserve energy and reduce electricity costs in alignment with New Taipei's zero carbon objectives. The subsidy program is open for applications from companies, factories, corporations, groups, public and private universities, and colleges within New Taipei City, with applications closing on April 19.

Reference: The International Trade Administration (TITA)｜CNA