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Taiwan, despite not being a member of the United Nations, is facing the same global issues of climate change, environmental pollution, resource depletion, and social imbalances that have deeply affected sustainable development. The sustainability of Taiwan’s future development depends on the actions taken now, which requires identifying key challenges, uniting the public’s vision, and proposing strategies with specific goals in mind. To achieve sustainable practices, effective communication between the government and the public, continuous review of progress, and adaptation of practices are crucial. Taiwan must address its heavy reliance on fossil fuels, promote a circular economy, and ensure that economic growth is inclusive and does not worsen social imbalances. Taiwan has been taking significant steps towards implementing sustainable business practices in recent years. Here are some of the recent sustainable business practices in Taiwan
In 2020, Taiwan passed a law to phase out nuclear power by 2025 and to increase the share of renewable energy to 20% of the country’s energy mix by 2025. Taiwan has been actively promoting the development of renewable energy sources, such as offshore wind farms and solar energy.
Taiwan has been implementing a circular economy by promoting waste reduction, reuse, and recycling. In 2019, the government passed legislation to ban single-use plastic straws, utensils, and bags by 2030. Taiwan has also implemented a waste-to-energy program to convert waste to electricity.
Taiwan has been promoting sustainable transportation by improving public transportation, developing electric vehicles, and implementing bike-sharing programs in cities. In 2020, the government announced a plan to install 50,000 electric vehicle charging stations by 2025.
The Taiwanese government has been promoting sustainable agriculture by supporting small-scale farmers to adopt sustainable methods such as organic farming, and promoting the production of indigenous crops. In 2020, the government launched a program to encourage young people to take up farming.
Many Taiwanese companies have adopted sustainable practices in their operations, such as reducing waste and emissions, using eco-friendly materials, and promoting ethical business practices. In 2020, the Taiwan Stock Exchange launched the “Taiwan ESG Index” to promote environmental, social, and governance (ESG) investment.
Taiwan has made significant progress in promoting sustainability and is likely to continue on this path in the future. The government’s commitment to reducing greenhouse gas emissions, promoting renewable energy, and sustainable transportation will further the country’s efforts to become a leader in sustainable development in the region. Taiwan’s promotion of a circular economy, sustainable agriculture, and the production of indigenous crops, as well as the growing demand for eco-friendly and socially responsible products and services, will drive sustainable business practices in the coming years.
Taiwan’s efforts to promote sustainability will not only benefit the country’s future but also contribute to global efforts to address climate change and promote sustainable development. The launch of the Taiwan ESG Index demonstrates the growing interest in ESG investment, which will likely continue to drive sustainable business practices in Taiwan. By adopting a comprehensive and coordinated approach to sustainability, Taiwan can continue to make significant strides towards addressing key global issues such as climate change, environmental pollution, resource depletion, and social imbalances.