To achieve the net-zero emissions goal by 2050, the " Sweden+Taiwan Green Transition Alliance" visited the Taiwan Carbon Solution Exchange on January 19 to discuss Taiwan's future carbon trading mechanism. The alliance, established in 2021 by the Swedish Trade and Investment Council and Swedish businesses in Taiwan, aims to support Taiwan in achieving green growth and net-zero emissions before 2050. The 2023 members of the alliance include Alfa Laval, Assa Abloy, Atlas Copco, Baseload Power Taiwan, TCO Development, Volvo Cars Taiwan, and Volvo Trucks. Their scope spans green transportation, green supply chains, renewable energy, and sustainable smart buildings.

The CEO of the Taiwan Carbon Trading Exchange, Joshua Tien, stated that internationalization is one of the key objectives of the exchange. Since its establishment in August 2023, the exchange has initiated three international actions: 1) Collaborating with the British Standards Institution (BSI) to offer a series of ISO international standard certification courses to cultivate local international carbon management talent. 2) Launching an international carbon trading platform on December 22 last year, offering high-quality international carbon credits approved by international carbon credit issuing agencies to domestic companies. 3) Actively discussing net-zero issues with various countries and organizations in Europe, America, and Asia, sharing Taiwan's successful experience in low-carbon transformation. This year, more international forums and events are planned, aiming to exchange and collaborate with more global net-zero related organizations, helping Taiwan align with international standards and accelerate the journey to net-zero transformation.

Martin Vercouter, the Market Manager of the Swedish Trade and Investment Council, affirmed Taiwan's progress in promoting carbon pricing mechanisms. Sweden's carbon tax system has been in place for years and has proven that carbon tax and economic growth can coexist. He hopes that Sweden and Taiwan can learn from each other in the area of carbon fees and carbon tax mechanisms.

Alliance member companies have also made commitments to reduce environmental and carbon footprints, supporting Taiwan's 2050 net-zero vision, including:

• Baseload Power Taiwan, a Swedish geothermal energy developer established in Taiwan in 2019, is committed to developing Taiwan's abundant natural geothermal resources, providing clean renewable energy locally, driving local revitalization and economic activities, and aspiring to create a sustainable development of energy, environment, and culture, contributing to Taiwan's 2050 net-zero vision.

• Volvo Cars aims to be a climate-neutral company by 2040 through reduction of CO2 per car, reducing tailpipe emissions, reducing operational emissions, and reducing supply chain emissions. Volvo Cars goal is to reduce overall CO2 lifecycle emissions per car by 40% by 2025. In 2022, our European plants have been climate-neutral and since 2008 all renewable energy has been applied in all European plants.

• Volvo prioritizes sustainable development, steadfastly committed to achieving climate neutrality and embracing a circular economy. The company has set ambitious goals: a 50% reduction in CO2 emissions by 2030 and carbon neutrality by 2050. In 2023, Taikoo Motors introduced the full range of "Volvo Trucks Electric" in Taiwan. This initiative contributes to Taiwan's net-zero transportation goals. It aims to fulfill customers' environmental goals while establishing new ESG standards, marking the onset of a new era in net-zero transportation.

• TCO Certified is a global sustainability certification for IT products. It includes both social and environmental aspects and helps purchasing organizations and the IT industry address the most important sustainability challenges connected to electronics, such as climate, circularity, hazardous substances, and supply chain responsibility. All criteria are mandatory and compliance is always independently verified.

• Atlas Copco is committed to providing solutions for a sustainable future. Verified by the Science Based Targets initiative, the company pledges to reduce Scope 1 and 2 greenhouse gas emissions by 46% and Scope 3 emissions by 28% by 2030, contributing to keeping global warming below 2°C.

• Assa Abloy, headquartered in Sweden and the world's largest lock and hardware manufacturing group, is committed to developing various door-opening solutions, becoming a promoter of sustainable green buildings. The group's carbon reduction target is to halve its current levels by 2030.

• Alfa Laval, a global leader in heat transfer, centrifugal separation, and fluid control technologies, operating in over 100 countries, is committed to achieving carbon neutrality by 2030 and net-zero by 2050. In partnership with sustainable partners, the company is dedicated to accelerating the optimization of energy efficiency, clean energy, the circular economy, and the widespread application of sustainable food and beverages.

During this visit, Swedish enterprises in Taiwan were able to enhance their understanding of Taiwan's carbon trading operations and its future strategy. Sharing mutual objectives in climate action and green transformation, both Sweden and Taiwan anticipate making significant contributions to a sustainable society by advancing carbon trading and refining emission reduction strategies.