GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS

Taiwan Government Provides NTD 800 Million Carbon Reduction Funds for Fastener and Other Metal Industries

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2023-03-07

The European Union's carbon border tax extended the list of products to downstream products at the end of last year, covering the fastener industry in Taiwan which exports 30% of its fasteners to the EU. As Taiwan is a major fastener producer, its amount of fasteners exported worldwide in 2021 reached NT$166.3 billion, and 29% were sold to the EU. The impact of EU carbon tax would be monumental.

Taiwan Industrial Development Bureau is expected to allocate NT$700 million to NT$800 million to assist the metal industry in carbon inventory and equipment investment. The Ministry of Economic Affairs has appointed the Metal Industry Research and Development Centre (MIRDC) to set up a "Metal Industry Carbon Reduction Service Group", which will provide one-stop services in carbon inventory, carbon verification, technology upgrade, government counseling, subsidy resources, and talent training to accelerate the fastener industry's transformation.

Officials said that in the face of competition from China, Taiwan fastener industry is in urgent need of reducing carbon emissions to strengthen its competitiveness. Through this service group, the government can help manufacturers train their own carbon inventory talents and find out where the internal processes consume energy, and then allow government resources to subsidize them to improve equipment and technology, in addition to investment credits such as smart machine research and development.

工業局

螺絲螺帽

金屬工業

減碳

金屬中心

金屬產業減碳服務團

Taiwan IDB

fastener

metal industry

carbon reduction

MIRDC

Metal Industry Carbon Reduction Service Group