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December 9 Analysis of global trend to cope with climate change after COP23 Date:2017-12-09
The COP23 this year was held by the Republic of Fiji and selected Bonn, Germany as the venue with help from the United Nations and Germany. Generally speaking, this year’s conferences and arrangement of meetings were less interesting and somewhat lackluster than they used to be. About sixteen thousand attended, a figure less than a half of the past. The major reasons are there were major issues in the past few years such as COP21 in 2015 with the Paris Agreement, COP22 in 2016 with Donald Trump’s intention to withdraw from the Paris Agreement. The issues in this year are mainly about the preparation stages before the Paris Agreement is implemented in 2020.

Another issue of concern was the “Powering Past Coal Alliance” initiated by countries like the UK, Canada, and the Marshall Islands with the hope that each country could submit their timetables for phasing out coal from power generation. The UK, Portugal, France, Finland, and Austria have formally announced to phase out coal by 2025. But there are only 25 countries joining this alliance that accounts for only 2.5% percent of the world’s coal consumption and the influence is quite limited.

Observed from this trend, Taiwan specifically should take note of stranded assets. No matter it is energy policy or investment in the electric car industry chain,  attention is specifically needed. For example Taiwan currently wants to build new coal fired power plants. If their use were restricted due to pressure from global carbon reduction standards a few years from now, they might not be able to run for 30 years as expected, leading to great losses. Similarly this also applies to the car industry and motorcycle industry, so they need to get prepared as soon as possible to prevent investment losses.
 

       
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