|Date||May 19, 2022|
The 2022 Energy Storage Forum, co-hosted by European Union Centre in Taiwan, the ECCT LCI, and TÜV Rheinland, kicked start on May 19. I. On behalf of InfoLink, which served as the co-organizer, senior ESS analyst Dr. Fang-wei, Yuan and researcher Judy Zhao attended the event, providing detailed analysis of Taiwan’s energy market in terms of trends, policy frameworks, and practical experiences.
The road of carbon reduction: Spot competitive advantages through carbon footprint verification
With the wave of net-zero sweeping, countries begin working on carbon pricing, carbon trade, and Carbon Boarder Adjustment Mechanism (commonly referred to as carbon boarder tax). Against this backdrop, businesses see production costs rising and escalating risks in market penetration and supply chain partnership. Therefore, it is essential for businesses, big and small, to map out a path of carbon reduction to reach carbon neutrality.
Carbon footprint verification (CFV) is the first step businesses should take in the face of successive risks. Only by looking into status quo can businesses find the most efficient way to cut carbon emissions, and thus acquire competitive advantages for their products. Researcher Judy Zhao of InfoLink pointed out that many steel manufacturers are calculating their carbon footprints. Steel products with lower carbon footprints are more likely to be purchased. In the future, carbon footprint will become a decisive factor in market competitions.
CFV results can be used to conduct analysis of sources of emissions, according to which manufacturers can begin with the biggest source of emissions. The results are also used for third-party verifications. Verified products not only wins tickets to certain markets, but also reduce carbon costs for manufacturers. After understanding their own conditions, manufacturers should be familiar with that of their rivalries, by accessing information such as average carbon emission of the industry and locations of manufacturing plants.
Zhao reminded that the ultimate goal of CFV is to reach carbon neutrality. Given that, manufacturers must carefully evaluate their means of cutting carbon emissions. Some common approaches include using renewable energies, replacing older equipment, using low-carbon raw materials, and optimizing manufacturing process. In addition, businesses are advised to establish internal carbon pricing mechanisms, introducing carbon reduction actions into all aspects of their operation, and thus stand out in carbon right disputes worldwide.
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Judy works on the calculation and comparison of commodity carbon footprints, research in green house gas emission regulations, carbon emission caps of different industries, and macroeconomics analysis. She tracks global carbon emission trading market and the development of relevant policies. In the meantime, Judy engages in SiC and GaN research. She works to acquire instantaneous market movements and provide comprehensive information on industrial trends.