To help small businesses and commercial building owners access renewable energy, the Ministry of Economic Affairs launched a green energy leasing project on July 4. Two of Taiwan’s largest office landlords, Cathay Life Insurance Co (國泰人壽) and Shin Kong Life Insurance Co (新光人壽), will join the project firstly.
The two insurers are signing agreements with private energy suppliers to buy green energy or renewable energy certificates (RECs) under the project. They can then lease the renewable energy to those who rent offices from them.
The ministry said in a statement that private energy suppliers are to start supplying renewable power next quarter at the earliest.
The government not only urges major businesses to go green, but also encourages office buildings, community buildings and small and medium-sized businesses to adopt renewable energy, or RECs, through the project of the ministry.
To boost the trading of green energy, the ministry launched a pilot project in the fourth quarter of 2020, which allows REC holders to lease green power.
L’Oreal Taiwan, Yuanta Commercial Bank (元大銀行) and Yuanta Securities Co (元大證券) have started using green energy through the pilot project, and more than 40 companies have secured green energy deals, the ministry said.
Due to the rapid climate change, governments around the world come up with solutions to reach the goal of carbon neutrality. Taiwan is also hurrying to follow up global climate action in hope to achieve net-zero emissions by 2050.