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Greenhouse effect and CO 2 emission. Chi-Yuan Liang Institute of Economics, Academic Sinica November 1, 2006. 1. Introduction. 2. The impact of Kyoto protocol on Taiwan. 2.1 Investment and trade risk before 2012 (1/2). Three EU environmental directives:

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Greenhouse effect and co 2 emission l.jpg

Greenhouse effect and CO2 emission

Chi-Yuan Liang

Institute of Economics, Academic Sinica

November 1, 2006




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2.1 Investment and trade risk before 2012 (1/2)

Three EU environmental directives:

  • WEEE (Waste Electrical and Electronic Equipment) Effective since August 2005

  • ROHS (Restriction of Hazardous Substance) Effective since July, 2006

  • EUP (Eco-design Requirement for Energy Using Producers) might be effective after 2008


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2.1 Investment and trade risk before 2012 (2/2)

  • Energy productivity of Taiwan was 47% lower than the EU.

  • EU accounted for 13 percent of the exports of Taiwan in 2004. In the meanwhile, exports accounted for 60 percent of GDP of Taiwan.

  • The trade and economic growth of Taiwan will be significantly affected once EU implement the directive of EUP.



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2.2 Investment risk after 2012

An International Comparison on CO2 Emission


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2.3 Causes of acceleration in CO2 emission since 1999

The growths of CO2 and GDP in Taiwan, 1996-2003





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An international comparison of electricity prices for lighting

Taiwan: $2.49

Sources: The Energy Information Administration (EIA) and Tenaga Nasional Berhad , 2004.


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An international comparison of electricity prices for industry

Taiwan: $1.76

Sources: The Energy Information Administration (EIA) and Tenaga Nasional Berhad (TNB) , 2004.



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2.4 The impact of CO 1980-20042 reduction on Taiwan

The effects of different CO2 abatement approaches on Taiwan

Notes: 1. Levying carbon taxes for attaining the objective of CO2 reduction

2. The progressive method is levied annually for twenty years.


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3. Rethinking on energy policy (1/3) 1980-2004

3.1 Energy pricing policy

Energy price should fully reflect its internal and external cost.

  • Oil price

     Floating oil price mechanism is a right direction but should be modified.


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3. Rethinking on energy policy (2/3) 1980-2004

  • Electricity price

    Price adjustment formula and mechanism is needed.

  • Automobile fuel fee (Road-maintenance fee)

    AFF should levy on oil products instead of car.


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3. Rethinking on energy policy (3/3) 1980-2004

  • Carbon tax (energy tax) and green tax reform

    (i) Tax on CO2 emission

    (ii) Progressive approach


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Carbon tax (energy tax) and green tax reform (Cont.) 1980-2004

(iii) Green tax reform

 The tax revenue should be used

  • To reduce the personal and business income tax rate

  • To lower the burden of social welfare (retirement fund and Medicare) of the employers

  • Subsidies of energy expenses to the low income families

  • To purchase CO2 emission quota from abroad

  • Energy R&D


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3. Rethinking on energy policy (2/2) 1980-2004

3.2 Industrial restructuring

3.3 Energy restructuring

  • The limit of renewable energy

  • Reevaluation on “Nuclear Free Homeland” policy



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The CO 1980-20042 abatement plan of the 2nd Energy Conference





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Conclusion Remark 1980-2004

  • To cope with the oil price surge and Kyoto protocol is tough.

  • However, the truth is that there is no free lunch in the world.

  • Government should be responsible and takes the right actions. The entrepreneurs and consumers should also react now.


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