Top Climate Finance Group Floats Guidance on Asia Coal Phaseout
- Early retirement of coal power plants crucial to hit net zero
- Public consultation will support final report ahead of COP28
Coal loaded onto trucks at Cirebon Port in West Java, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
The world’s biggest climate-finance alliance has launched a public consultation on its guidance for financial institutions and others working to accelerate the managed phaseout of coal power in Asia.
The region’s largest economies are highly dependent on coal, with the dirtiest fossil fuel accounting for roughly 60% of power generation. Ending this reliance is crucial for the world to hit climate targets, and lies at the heart of efforts like the Just Energy Transition Partnerships.