#COP28: Our CEO Eric Francia, in a discourse with other Coal to Clean Credit Initiative panelists, pointed out that lost generation from early coal phasedown needs to be replaced by clean, reliable, dispatchable and affordable energy so as not to disturb the grid.
At the #COP28 Singapore Pavilion, our CEO Eric Francia emphasized that we need to ensure clean, reliable and affordable energy replacement in further accelerating the coal plant’s retirement by a decade using Transition Credits. “We cannot just shut down a coal plant by 2030. We need to replace that with an integrated renewable and energy…
By Eric Francia MANILA, Philippines — The beginning of a year typically ushers renewed hope, and I believe that there is much to be hopeful for. The recently concluded COP28 held in Dubai signaled the “beginning of the end” for the fossil fuel era. For the first time ever, signatories of the United Nations Framework…
ACEN president and CEO Eric Francia joined an esteemed panel at the COP28 Singapore Pavilion in Dubai on December 4, 2023 to discuss Coal Managed Phaseout Package, where he underscored the importance of a responsible and just coal-to-clean transition that ensures affected stakeholders like workers and communities are taken into account in the pivot to renewables. Watch the full panel discussion.
DUBAI – Singapore’s central bank launched a coalition on Dec 4 to help accelerate early coal power plant retirements, and also announced two pilot projects that aim to demonstrate how this might be achieved using revenue from the sale of high-integrity carbon credits.
DUBAI – A consortium led by the Rockefeller Foundation has launched a pilot initiative to use carbon credits to retire a coal power plant in the Philippines before the end of its natural life, it said on Monday during the COP28 climate talks in Dubai.
The Monetary Authority of Singapore (MAS) today announced the launch of the Transition Credits Coalition (TRACTION) and two pilot projects to test the use of high-integrity transition credits in transactions for the early retirement of coal-fired power plants (CFPPs).
The Coal to Clean Credit Initiative (CCCI), a consortium of global experts, receives high-level endorsement from Philippines’ ACEN to begin exploring the world’s first coal-to-clean pilot project in the Philippines, supported by the Monetary Authority of Singapore.
ACEN is the first energy company in Southeast Asia to announce its Net Zero roadmap that includes near-term scope 1, 2 and 3 greenhouse gas (GHG) emissions reduction targets, aligned with a 1.5°C pathway for the power sector.
While everyone was focused on the ongoing COP27 in Sharm El-Sheikh, a breakthrough in energy transition financing happened in Asia on November 8 with the completion of the first-ever energy transition mechanism (ETM) by a small power plant in the Philippines that can be the model for other private sector ETM transactions.
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