The first pilot project being explored under the CCCI is the closure of the Philippines’ South Luzon Thermal Energy Corporation (SLTEC) coal plant in 2030, 10 years ahead of its scheduled retirement.
The first Coal to Clean Credit Initiative (CCCI) pilot project under consideration in the Philippines could avoid up to 19 million tonnes of carbon dioxide emissions, announced the Philippines-headquartered Acen Corporation and The Rockefeller Foundation on April 17.
The CCCI aims to unlock carbon finance to accelerate the early retirement of coal-fired power plants (CFPPs) and replace them with renewable energy.
