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3.19. In terms of new agriculture and the circular economy, as of the end of 2022, investment in smart agriculture exceeded TWD 2 billion. The aim is to continue developing innovative, energy-efficient, and sustainable agriculture practices that enhance the value of resource recycling. The government has also facilitated alliances between industry sectors and public associations, committing to collectively improve resource utilization efficiency among businesses. As of the end of 2022, the recycling rate of industrial waste reached 81.4%, and the recycling industry contributed more than TWD 77 billion in value.

3.23. The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu announced in March 2022 the Pathway to Net-Zero Emissions in 2050, and in December 2022 the 12 Key Strategies, and then promulgated the Climate Change Response Act in February 2023. This Act includes the 2050 net zero emission target, an equitable transition, plus a chapter on climate change adaptation.

3.24. The government is reducing its dependence on imported energy by expanding the installation of renewable energy sources. The goal is to reduce energy import dependency to below 50% by 2050. By leveraging ICT advantages, the aim is to align industries with the global supply chain and green initiatives, thereby establishing low-carbon business models and green supply chains. In addition, through public dialogue, efforts are being made to enhance awareness of climate change and promote the adoption of low-carbon lifestyles. Activities to communicate with the public are being conducted to discuss the potential impacts of efforts toward net-zero emissions and the development of relevant supportive measures. The aim is to ensure that climate transition aligns with the principles of social equity.

3.25. To encourage the prioritization of green sustainability among businesses, investors, and consumers, and to promote support from the financial sector for green energy development, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has been undertaking green finance initiatives since 2017. A series of action plans have been introduced since then. On September 2022, the Green Finance Action Plan 3.0 was released to enhance the quality and content of ESG information disclosures, strengthen climate risk management of financial institutions, promote GHG emissions inventory disclosures, and establish a sustainable taxonomy.

3.26. A new plan to improve the overall competitiveness of SMEs was also adopted in October 2022 to assist SMEs embrace new international opportunities in net-zero emissions. Actions have been taken to enhance carbon reduction capabilities, foster relevant talent, support the low-carbon transformation of the manufacturing and service industries, guide export-oriented SMEs to comply with international carbon footprint verification standards, expand domestic capabilities to verify carbon emissions, and provide support for low-carbon measures such as green and sustainable preferential loans.

3.27. The economic development objectives of the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu encompass not only the pursuit of sustainable growth but also the promotion of social inclusivity. (...)

3.29. The government values the development of SMEs, and aims to enhance their competitiveness, foster new opportunities, and accelerate industry transitions and development to address the challenges posed by the digital economy, sustainable development, local innovation, and global challenges in the post-pandemic era. (...)

3.34. To facilitate the empowerment of indigenous peoples, the Indigenous Peoples' Economic and Industrial Development 4-Year Plan (2018-2021) was implemented to bolster the development of indigenous agriculture, cultural creativity, and ecotourism. (...)

3.38. (...) The ratification process for the WTO Agreement on Fisheries Subsidies has been set in motion. The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is actively engaging in negotiations for the second phase of the Agreement, focusing on addressing subsidies related to overcapacity and overfishing, aiming at advancing sustainable development goals in the fisheries sector. (...)

3.41. In terms of emerging issues in environmental sustainability, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu joined other WTO Members in launching the Trade and Environmental Sustainability Structured Discussion (TESSD) initiative in November 2022. It will continue to participate in discussions of the informal working group proposing concrete measures and suggestions for trade and environmental issues under the WTO framework.