Event Sidenote: TCAN’s Forum on Carbon Credit Quality
A couple of weeks ago, on the first anniversary of the Taiwan Carbon Solution Exchange (TCX)’s establishment, we co-hosted a forum with the Green Citizens’ Action Alliance on the quality of carbon credits. While the carbon market continues to grow as a prevalent means for Taiwanese companies to reduce their Greenhouse gas emissions and advance climate action, misinformation and confusion surrounding carbon market mechanisms have led to an emergence of fraudulent practices: from fake courses to uncertified carbon credits to the exaggeration of emissions reduction results using low-quality credits. Such tendencies pose financial and reputational risks to companies and undermine the transparency of – and thereby the social trust in – carbon markets. With experts and practitioners from various fields – including representatives from TCX and the Chung-hua Institution for Economic Research (CIER) – we discussed the different risk factors throughout the lifecycle of a carbon credit, what companies can […]