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The Philippines tests ‘transition credits’ to cut coal use in novel experiment
The pilot project aims to finance early coal plant retirement by replacing fossil fuel equipment with renewables, potentially attracting $110 billion in capital by 2030, experts say.
- The Philippines is testing 'transition credits' to encourage companies to phase out coal-fired power plants by creating funds for converting them to renewable energy facilities.
- Proponents say transition credits could unlock investment for the Asia-Pacific region and speed up Southeast Asia's transition to renewable energy, but some experts are wary of issues plaguing carbon markets.
- The experiment is playing out at a power plant in Calaca City, south of Manila, and if successful, could provide a playbook for coal asset owners' energy transitions.
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13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left4Leaning Right2Center4Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
Factuality
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