Traction is supported by close to 30 members and knowledge partners, including Temasek, GenZero, Citi, Standard Chartered, DBS and Oversea-Chinese Banking Corporation (OCBC). It will study the challenges and propose solutions to scale the early retirement of CFPPs in Asia through “high-integrity carbon credits”, says MAS.
The Monetary Authority of Singapore (MAS) has launched 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 Dec 4 launch follows a working paper jointly published by MAS and McKinsey & Company in September.
