▎GLOBAL OUTLOOK

A Taiwanese team led by NTU Prof. Ming-Jer Tsai was invited to present a solution to the ecological crisis at COP28 in 2023. In particular, the proposal won high praise for the application of “Biocredit Taiwan” and was hailed as a significant contribution to the conference.

Prof. Tsai proposed the “Biodiversity Credit” initiative in his keynote speech, which will further cooperation between financial institutions and other industries on biodiversity issues. Having received widespread attention from professionals attending the conference, this new model combines green economy and biodiversity preservation. The team shared the case of lowland restoration in NTU Experimental Forest, highlighting nature-oriented solutions and the results of improving biodiversity with carbon-negative technology.

The certification mechanism of “Biocredit Taiwan” is regarded as a solution to the ecological crisis, demonstrating Taiwan’s vision, determination and ability in ecological preservation. At COP28, Prof. Tsai reiterated the importance of this initiative three times in a row. The team members including Prof. Tzung-Su Ding, Chair of the School of Forestry and Resource Conservation, and Prof. Shu-Yuan Pan from the Department of Biomechatronics Engineering further discussed the technical details for implementation during two subsequent dedicated forums. The discussions enhanced the understanding and support for this initiative by experts and scholars around the world.

With the conclusion of COP28, the global trend of green transformation has officially moved on to a new phase. The “Biocredit Taiwan” initiative proposed by Taiwan demonstrates its commitment to sustainable development and calls for global cooperation in terms of addressing the ecological crisis.