April 25, 2024

Transition Credit Pilot for Philippines Coal Plant Could Avoid up to 19 Million Tons of CO2

Transition Credit Pilot for Philippines Coal Plant Could Avoid up to 19 Million Tons of CO2

Climate Smart Ventures

Climate Smart Ventures

Climate Smart Ventures

Climate Smart Ventures

In photo left to right: Eric Francia, President & CEO, ACEN; Andrew Jeffries, Advisor, Energy Transition Mechanism and Partnerships, Asian Development Bank; Elizabeth Yee, Executive Vice President, Program Strategy, The Rockefeller Foundation. Photo source: The Rockefeller Foundation

Climate Smart Ventures is collaborating with energy company ACEN Corporation, the Rockefeller Foundation, the Coal to Clean Credit Initiative, and the Monetary Authority of Singapore in an ambitious effort to shut down coal plants by leveraging high integrity carbon finance.

On April 17 during Ecosperity week in Singapore, the Rockefeller Foundation announced that a transition credit pilot with the SLTEC coal plant in Batangas, Philippines could avoid up to 19 million tons of CO2 emissions if the plant shuts down 10 years earlier than planned. The planned pilot also includes replacing the coal plant with clean power and battery storage, while supporting the livelihoods of workers affected by the plant’s early transition. Climate Smart Ventures is pleased to be working with its partners on this innovative pilot project.

Learn more about the announcement in the Rockefeller Foundation’s press release here.

**About Climate Smart Ventures**

Climate Smart Ventures (CSV) is an advisory firm advancing the energy transition in Asia. Our expertise and projects span coal to clean utility-level energy transition, industrial decarbonization, grid transformation, transition finance, and government-level policy recommendations. We also provide ESG and sustainability advisory services, focused on decarbonization and management of environmental and social impacts. Ecosystem building and collaboration are key elements of our firm, which partners closely with the region’s leading corporates and power portfolio owners, investors, off-takers, and others. For more information, visit our website https://climatesmartventures.com.