According to the global environmental legal framework of the UNFCCC, the Paris Agreement has launched its climate action agenda that seeks to realize deep decarbonization and just
transition towards net-zero emission goals by 2050. To date, climate governance is a critical mandate from aspects of national policy legalization, technology R＆D, economic development, low-carbon society, and For achieving climate targets, the United Nations Framework Convention on Climate Change(UNFCCC) devotes itself to mitigation approaches that are cost-effective and collective participating. The Kyoto market mechanisms, which made the mandatory obligation on mitigation outcomes transferring from the Annex I countries, had already been implemented. The voluntary cooperative mechanisms of Article 6 of the Paris Agreement launched by 2021, including cooperative approaches, sustainable development mechanisms, and non-market approaches, to keep the global 1.5 °C targets. The context of various cross-border cooperation mechanisms in the Paris Agreement has extended to multiple targets such as adaptation, human rights, and sustainable development, creating the possibility for other diversified mitigation instruments, helping to close the emission gap from the 2030 target and achieve achieving the carbon neutrality target by 2050.The Paris Mechanisms transfer International Transfers of Mitigation Outcomes (ITMO) cross-border to offset excess emissions from industries under national mitigation obligations or “other international mitigation purposes” for multiple purposes. As for the design for Taiwan’s climate governance, in response to the development trend of international net-zero emission needs, carbon pricing policy instruments, and the design of Paris Mechanisms, it is urgent to review and make adjustments to the legal compliance design of the GHG management with critical issues, such as“corresponding adjustment,” “mutual recognition connection,” and “applicable scopes,” to facilitate Taiwan’s promotion of decarbonization and industrial transformation. From the perspectives of carbon asset management, the introduction of ITMO use will affect the overall political, economic, social, technological, environmental, and legal aspects of Taiwan, such as in response to the EU“Carbon Border Adjustment Mechanism (CBAM)” and the internal carbon pricing promoted by enterprises. The relevant policy benefit assessment will be helpful to prepare the response at all levels, coming up with crucial strategies for Taiwan’s interests. Accordingly, considering the mechanisms of Article 6 of the Paris Agreement, the project develops policy recommendations on the institutional to the Paris Mechanisms for Taiwan. Therefore, the primary tasks and objectives in this project include:1. Studying the development and global participation from the international cooperative mitigation mechanisms in Article 6 of the Paris Agreement. 2. Exploring t the feasibility of Taiwan’s participation in the Paris Mechanisms and ITMO transfer. 3. Promoting a trial case study of Taiwan’s climate action linking to the Paris Mechanism, and establishing relevant models, procedures, and guidelines. 4. Accomplishing a policy benefit assessment analysis of Taiwan’s participation in the Paris Mechanisms.
