COP28: The Rockefeller Foundation, ACEN Corporation, Monetary Authority of Singapore Partner to Explore Phasing Out Coal Plant in Philippines
CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.
- CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.
- "To retire coal plants, avoid those emissions, and create jobs, we need to create the right incentives for asset owners and communities and mobilize additional finance.
- This innovative CCCI agreement will pilot a coal-to-clean credit methodology in the Philippines, one critical step toward breaking that overreliance and building a better future."
- The project, the South Luzon Thermal Energy Corporation (SLTEC) coal plant, would become the world's first coal-fired power plant to leverage carbon credits to enable its early decommissioning.