An accelerating green growth for Taiwan's climate ambition

Following the adoption of the Paris Agreement at COP21, the focus has been shifted to resolutions from the long-term framework to concrete details by phase in managing global climate issues. The Agreement, aiming at promoting a high-ambition, needs to enhance transparency and accountability that enables all countries to foster climate resilience and low greenhouse gas emissions development in line with the global goal to hold the increase in global average temperature below 2 °C, through binding rules in the core to track progress towards achieving targets. Prior to the Paris climate conference in December 2015, Taiwan has promulgated the Intended Nationally Determined Contribution (INDC) as well as the Greenhouse Gas Reduction and Management Act, demonstrating Taiwan toward a new stage for not only coping with climate change issues but also fulfilling the Paris Agreement's spirit. This paper discussed the leading role of business model in green growth, and the relevant indispensable incentives for Taiwan's climate ambition. Policies should be consistent with the business models. To this end, the development of green energy technology comes with enormous business opportunities, and the industry can benefit from getting involved in early stage so as to develop affordable green technologies and maximize the design potential of a global achievement in decarbonisation in the developing world.