The Climate Change Response Act (hereinafter referred to as the Climate Act) and related regulations have clearly defined the term "reduction credit". The term "carbon credit" is a common term in Taiwan and is used in various GHG emission management systems. There is no international definition. In order to avoid confusion about this term, the NPA website has established a "GHG Reduction Credits for National Land Q&A" section to provide relevant FAQs for reference, so that the public may understand the definition and attributes of the national land-based GHG reduction credits and facilitate the promotion and implementation of cases related to reduction credits in the future, putting the country on par with the rest of the world in terms of achieving the goal of net-zero emissions.
The NPA stated that in order to clarify the definition of carbon rights and whether they are property rights as specified in Subparagraph 4, Paragraph 1, Article 3 of the National Property Act (hereinafter referred to as the Property Act), the Ministry of Finance invited the Office of Energy and Carbon Reduction of the Executive Yuan, the Ministry of Environment, the Ministry of Economic Affairs, the Ministry of Agriculture, and other relevant agencies to hold a meeting to study and obtain a conclusion on this issue on January 18, 2024. The "reduction credit", as stipulated in Subparagraph 13, Article 3 of the Climate Act, is commonly known as the "carbon right". The reduction credit is a recognized public law interest derived from the administrative control measures under the Climate Act, which is different from the "rights" stipulated in the Property Act and is not a property "right" as stipulated in Subparagraph 4, Paragraph 1, Article 3 of the Property Act. Therefore, the "reduction credit amount" generated from the national land is not a national property "right" as defined by the Property Act.
The NPA further indicated that, in response to questions such as "What is the definition of carbon rights? Is there any relevant legal definition?", "Are reduction credits generated from national land considered property rights as stipulated in Subparagraph 4, Paragraph 1, Article 3 of the Property Act?” and "In response to changes in the climate environment and in line with the national goal of net-zero transformation, how can the national public land managed by various agencies be made available for afforestation by others, and how can the afforester obtain the reduction credit stipulated in Article 3, Paragraph 13 of the Climate Act?", among others, the relevant explanations have already been provided in the "GHG Reduction Credits for National Land Q&A" section of the NPA website. In the future, we will continue to compile relevant FAQs on issues such as the reduction credit of national land for public inquiry and understanding in this section.
Press Release Contact: Ding Shih-Fen, Section Chief
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