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Public urged to use spare coins to help cut carbon emissions

12/05/2023 04:12 PM
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CNA file photo
CNA file photo

Taipei, Dec. 5 (CNA) The Central Bank of the Republic of China (Taiwan) on Tuesday urged the public to either spend their spare coins or deposit them into their bank accounts, to reduce the cost to the central bank of producing more coins and to help cut carbon emissions.

To many people, the link between the country achieving net zero emissions and spending their spare change may seem remote, but the central bank said in a statement on its Facebook page that it will only take people "lifting a finger" to help Taiwan reach the goal.

President Tsai Ing-wen (蔡英文) on April 22, 2021, Earth Day, declared Taiwan's aim to achieve net-zero emissions by 2050.

In March 2022, the National Development Council (NDC), the Cabinet's policy-planning body, unveiled a road map to increase the share of renewables in the country's electricity supply to 60-70 percent by 2050.

"When people don't use their coins and leave them at home, the central bank then has to produce more to meet demand, which raises the bank's costs and also produces more carbon emissions," the central bank said.

One simple thing that people can do to "help protect the ecosystem" is to gather all those "coins from their heavy wallets and those hidden in corners of their homes and spend them."

Or, the central bank added, people can deposit the coins into their bank accounts, which helps increase coin circulation and cuts the need for the central bank to roll out more.

According to the central bank, a total of seven financial institutions in Taiwan -- Cathay United Bank, Taishin International Bank, Bank SinoPac, CTBC Bank, Shanghai Commercial & Savings Bank, Bank of Taiwan and Chunghwa Post -- are equipped with automated coin deposit machines to provide a convenient way to deposit coins.

In addition, the public could use spare coins to top up their EasyCards, iPass or other electronics payment devices at metro stations or convenience stores, the central bank said.

"Use those coins that have been lying around your home and in your wallet," the central bank urged, calling on people "to do their bit to protect the planet."

(By Pan Tzu-yu and Frances Huang)

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