The upcoming United Nations climate summit, COP29, has been hailed as the “Finance COP,” as countries are expected to significantly scale up climate finance by adopting the clumsily named New Collective Quantified Goal on Climate Finance (NCQG). The new global goal, first proposed at COP15, could provide urgently needed funding for climate action in developing countries, allowing them to boost their ambitions ahead of the next round of NDC submissions in 2025. However, divisions between developed and developing countries could derail progress on climate finance.
Developing countries are estimated to need trillions of dollars annually to combat climate change, but developed countries have been reluctant to commit to a figure ahead of November. Which countries should contribute toward the goal is another topic of debate. Currently, only “developed” countries, as defined in Annex I of the United Nations Framework Convention on Climate Change (UNFCCC), are required to contribute – in Asia, this includes Japan, Australia, and New Zealand. However, some developed countries, such as the United Kingdom, argue that the world has changed since Annex I countries were defined in 1992 and that more recently wealthy countries should also contribute. Conversely, developing countries, represented by the G-77, argue this is unfair, especially considering historical emissions and current development needs.
Other issues include whether loss and damage should be integrated into the NCQG, and the role of public and private finance. Tracking progress toward the goal and holding contributors accountable will require a focus on transparency. Greater transparency on climate progress could also help developing countries attract financing, although more resources are needed to enable data collection. This could be achieved by leveraging the existing Enhanced Transparency Framework (ETF).
Undoubtedly, the ongoing disputes between Global North and Global South countries are unlikely to be fully resolved by COP29. Any delay in financing could devastate vulnerable countries’ adaptation efforts and threaten global climate action. To address this issue, a regional approach to climate finance and adaptation could offer a viable solution. Taiwan needs to collaborate with regional partners to contribute to climate action effectively.
Why Does Asia Matter?
Asia is one of the largest sources of global greenhouse gas emissions, with CO2 emissions from fuel combustion in the Asia-Pacific region totaling more than 1 billion metric tonnes in 2022, representing 3.2 percent of global emissions from combustible fuels and showing a 30 percent increase between 2000 and 2022. The region also faces significant climate change risks, including extreme weather, rising sea levels, and economic disruptions. Together, these facts make Asia’s role in global climate action critical.
In recent years, China has sought to position itself as a leader in climate action for developing countries; however, some of China’s actions, such as military expansion, continued coal mining, and environmental disasters caused by large-scale projects, undermine its role as a climate leader.
Despite its exclusion from the United Nations, Taiwan’s cooperation model spans both developing and developed nations, advocating for regional actors to jointly address and adapt to the challenges posed by climate change. Taiwan’s climate finance initiatives demonstrate how an industrialized Asian country can financially support climate-vulnerable partners.
Recognizing the importance of finance for climate adaptation in small island states, the Taiwanese government has worked with the Republic of the Marshall Islands to establish the “Taiwan-RMI Adaptation and Contingency Fund for Climate Change.” So far, $1 million has been committed to the fund for use in adaptation and resilience efforts. Taiwan also intends to set up a just transition fund to support Pacific nations with climate adaptation. While this is a promising start, Taiwan’s climate finance commitments need greater ambition and transparency.
Beyond climate finance, sharing techniques and working together to find solutions for mitigation and adaptation is essential; the recently established Asia Zero Emission Community (AZEC), spearheaded by Japan, could be a case in point. As a country vulnerable to typhoons, Taiwan is similarly actively seeking regional collaboration with other partners, eager to share experiences and advancements in disaster prevention technologies.
Taiwan’s Hard-earned Knowledge in Disaster Preparedness and Renewable Transition
Taiwan has actively engaged in regional partnerships to enhance disaster resilience and climate adaptation efforts across the Asia-Pacific region. For instance, the collaboration between Taiwan and the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) has advanced weather monitoring technology. This technology enables people in the Philippines to identify and measure expected rainfall levels during radar observations, helping to enhance the country’s weather prediction and response efforts.
Taiwan has also deepened collaboration with its diplomatic allies to address shared challenges in disaster resilience and climate adaptation. As part of these initiatives, Taiwan signed the “Disaster Risk Management Capacity Building and Disaster Prevention Technology Sharing Cooperation Agreement” with Palau. These partnerships aim to strengthen regional disaster preparedness and response capabilities, with support in areas including drought management, medical and food supply donations, and essential infrastructure.
In addition to its disaster preparedness initiatives, Taiwan is poised to offer various technical solutions to address climate change and promote sustainable development. The country has developed innovative technologies in renewable energy, energy efficiency, and waste management, which can benefit its neighbors and the broader global community. Taiwan’s expertise in solar energy and offshore wind power can help countries in the Asia-Pacific region transition to cleaner energy sources without the need for nuclear energy. To support such a transition, the renewal and expansion engineering of grid-connection facilities and the installation of storage units (primarily batteries) will be indispensable.
At COP29, the Global Green Energy Storage Pledge will call for adding or renovating more than 80 million kilometers of grid by 2040, an amount equivalent to the existing global grid. This goal coincides with Taiwan’s ongoing “Power Grid Enhancement Project.” The project aims to shift Taiwan’s centralized grid to a more regionally balanced one to increase its resilience against possible large-scale blackouts due to the interruptions of extreme weather events. Taiwan’s project perhaps reveals the underlying purpose of the global pledge, and its grid enhancement experience could be a reference for its allied countries.
Outside the Venue of COPs: Taiwan’s Global Collaboration and Internal Challenges
Taiwan is committed to sharing its expertise and technology with the world, positioning itself as a global partner in resilience and sustainable development. Since COP27, Taiwan has actively assisted its allies and engaged in international cooperation to collectively address climate change’s impacts. However, Taiwan’s participation in the global arena remains limited due to the China factor.
In addition to facing international challenges, Taiwan’s climate policymaking process faces several internal issues that must be addressed. For instance, the Ministry of Economic Affairs and the Ministry of the Environment have invested significant effort in negotiating and reaching a consensus among stakeholders for Taiwan’s newly announced carbon fee. Yet, further discussion will require a collaborative approach among ministries to clarify and regulate the usage of the collected carbon fee to ensure a healthy financial environment for climate action.
As international challenges remain in place, Taiwan has turned its focus to city governments to continue its cooperation with the world. Taiwan and its Global Cooperation and Training Framework (GCTF) partners held the “International Workshop on Impacts of Climate Change on the Ocean” this October to promote exchanges and share knowledge on combating environmental challenges. These efforts emphasize Taiwan’s unique position in fostering regional and global collaboration.
Furthermore, Taiwan is actively pursuing partnerships with like-minded nations to enhance its contribution to global climate initiatives. Its determination to participate in international dialogues underscores a commitment to addressing climate change and promoting sustainable development worldwide.
In terms of establishing resilient climate partnerships, Taiwan is also committed to maintaining regional peace, a crucial requirement if the world is to limit global warming to within 1.5 degrees Celsius. Military conflicts not only lead to local-level environmental degradation but also emit significant amounts of greenhouse gases and prevent the long-term stability needed to achieve deep decarbonization. If countries are truly committed to combating climate change, they must also be committed to peace.
The convening of COP29 is the perfect time to reiterate Taiwan’s vital role in fostering regional cooperation in the Asia-Pacific. While not actually participating in the official U.N. negotiations, Taiwan has already been present in many countries, assisting with disaster-prevention techniques and energy transition strategies to enhance regional resilience and sustainability. Furthermore, Taiwan is known as an island of science and technology, and its domestic semiconductor industry is in step with global decarbonization trends, with climate action underpinning sustainable growth and competitiveness.
Taiwan’s strategic position in the global geopolitical and economic landscape makes it indispensable in realizing the world’s climate plan. Taiwan’s experiences encourage us to think beyond the dichotomy of developing and developed countries. Transcending these divisions, such as by establishing more inclusive climate cooperation frameworks that leave no one behind, will ensure resilient climate futures for the Asia-Pacific.