Taiwan CSC Plans to Charge Extra Carbon Fee for Exported Steel Products Since Aug. 2022
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The EU has announced its Carbon Border Adjustment Mechanism (CBAM) for months and plans to make it officially take effect in 2026. As a result, in order to respond to relevant measures, Taiwan CSC has been recently active in making detailed calculations of carbon footprints of its products and has commissioned local experts and Chung-Hua Institution for Economic Research (CIER) to probe into the EU’s CBAM. Taiwan CSC expects to charge extra carbon fee for its exported steel products since Aug. 2022 to reduce the impact, however, there has been no final determination yet on how much fee should be actually charged.
According to Taiwan CSC Chairman of Board Chao-Tung WONG, the current plan is only for exported steel products and the others for domestic sales are not included. However, he strongly recommends that downstream manufacturers (incl. Yieh Pui Enterprise, Shengyu Steel, and Prosperity Tieh Enterprise, as well as other screw and relevant steel products manufacturers in the downstream) should make detailed calculations of the carbon footprints of their own products ASAP. Taiwan CSC will also help downstream steel plants save energy and reduce carbon emission in order to facilitate the process for the whole steel industry to reduce carbon emission, which is not only for echoing with Taiwan Government’s policies, but also for maintaining the industrial competitive edge.