SINGAPORE, April 17, 2024 (GLOBE NEWSWIRE) — Sustainability Economics, a leading provider of global net-zero solutions, has announced to choose Asia Carbon Institute (ACI) as the standard for evaluating our transition credits methodology that aims to expedite the phase-out of coal-fired power plants (CFPPs) in the Asia region.Coal-fired power generation remains a significant contributor to global carbon emissions, particularly in Asia where a concentration of young CFPPs exists, averaging less than 15 years old. To address this pressing issue, Sustainability Economics will work with ACI and submit the methodology that facilitate the transition of CFPPs to clean energy sources. This methodology aims to create high-integrity Transition Credits, a financial instrument designed to accelerate the early retirement of CFPPs in Asia.Transition Credits, generated through the closure of CFPPs and their replacement with clean energy sources, provide a market-driven solution to enhance the economic viability and scalability of early retirement transactions. These credits adhere to the Core Carbon Principles (CCP) established by the International Carbon Value Chain Management (ICVCM), ensuring credibility and alignment with Sustainable Development Goals (SDGs).Sustainability Economics’ methodology, rooted in practicality and crafted with input from CFPP owners and renewable energy developers throughout Asia, emphasizes a data-driven approach and the use of digital platforms and state-of-the-art technologies to automate the process of producing Transition Credits from initiation to completion.Esther Benschop
Communications manager
Phone: +65 98851574
Email: [email protected]
Website: www.sustainabilityeconomics.com
(GlobeNewsWire)