--- title: "The Ministry of Economic Affairs assists the chemical industry in low-carbon transformation, estimating carbon reduction benefits to reach 330,000 tons" type: "News" locale: "en" url: "https://longbridge.com/en/news/228043403.md" description: "The Ministry of Economic Affairs has launched a plan to assist the low-carbon transformation of the petrochemical industry, expecting a carbon reduction benefit of 330,000 tons. The application deadline is March 3, with a total budget of approximately NT$ 5.1 billion. The plan covers industries such as petrochemicals, textiles, paper, and cement, supporting enterprises in implementing low-carbon measures and promoting green manufacturing and a circular economy. The government will also implement a carbon fee system to address international low-carbon product requirements and the impact of carbon tariffs" datetime: "2025-02-12T13:26:54.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/228043403.md) - [en](https://longbridge.com/en/news/228043403.md) - [zh-HK](https://longbridge.com/zh-HK/news/228043403.md) --- # The Ministry of Economic Affairs assists the chemical industry in low-carbon transformation, estimating carbon reduction benefits to reach 330,000 tons To assist the low-carbon transformation of the petrochemical industry, the Ministry of Economic Affairs continues to promote guidance measures such as process improvement and energy conversion. Recently, it has opened applications for businesses until March 3, with a total budget of approximately NT$ 510 million, expecting to promote carbon reduction benefits of over 330,000 tons in industries such as petrochemicals, textiles, papermaking, and cement. The Industrial Development Bureau of the Ministry of Economic Affairs recently announced the low-carbon transformation promotion plan for the petrochemical industry, with the application period ending on March 3. The focus is on the petrochemical industry (including sub-industries such as plastics and rubber), textile industry, papermaking industry (including the printing industry), and cement industry (including the building materials industry), planned for a duration of 2 years, with a total budget of approximately NT$ 510 million. The Ministry of Economic Affairs stated that the plan aims to subsidize businesses for the implementation of low-carbon transformation measures within their facilities, focusing on process improvement, energy conversion, and circular economy to implement carbon reduction solutions. It has set carbon reduction threshold requirements for industries to facilitate the assessment of the effectiveness of the plan's execution, with an estimated total carbon reduction of over 330,000 tons upon completion of the project. This includes over 160,000 tons of carbon reduction in the petrochemical industry, over 80,000 tons in the textile industry, over 20,000 tons in the papermaking industry, and over 70,000 tons in the cement industry. The Ministry of Economic Affairs indicated that this plan can be applied for by a single enterprise or a joint application by multiple enterprises. If there are more than two joint proposals, one of the enterprises must act as the leading entity to submit the application. In line with the global net-zero trend, the Ministry of Economic Affairs stated that the government continues to promote a dual-axis transformation of digital and green industries, driving the establishment of a net-zero innovation platform, constructing smart energy, promoting green manufacturing, and expanding the circular economy through smart and net-zero technologies. In addition, the Ministry of the Environment has issued the "Carbon Fee Charging Regulations" and "Self-Reduction Plan Management Regulations" based on the Climate Change Adaptation Act, and announced the "Designated Targets for Greenhouse Gas Reduction for Carbon Fee Collection Objects," completing three supporting regulations for the carbon fee system, which is about to be implemented. The Ministry of Economic Affairs stated that Taiwan's industries are mostly export-oriented, and in response to international supply chain requirements for low-carbon products and the potential impact of expanding carbon tariffs, industries must proactively adopt low-carbon transformation solutions ### Related Stocks - [603713.CN](https://longbridge.com/en/quote/603713.CN.md) - [002408.CN](https://longbridge.com/en/quote/002408.CN.md) - [001228.CN](https://longbridge.com/en/quote/001228.CN.md) ## Related News & Research - ["Implications For Risk Are Not Supportive": Goldman's One-Delta Desk On Warsh & Fed Cred](https://longbridge.com/en/news/294393591.md) - [How Fintech is Evolving to Support Employer Compliance at Scale](https://longbridge.com/en/news/294341395.md) - [Record FDN East Grades and New Sandia Finds Could Be A Game Changer For Lundin Gold (TSX:LUG)](https://longbridge.com/en/news/294295936.md) - [Betting Against Elon Musk's SpaceX Has Cleared More Than $7 Billion, Says Research Firm](https://longbridge.com/en/news/294156469.md) - [Tencent backs CYCO2STEEL blast furnace carbon recycling pilot at HBIS Serbia steelworks](https://longbridge.com/en/news/294332763.md)