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03/15/2024
Foreword of the week
Certification framework: the devil is in the details
A few days after the conclusion of negotiations on the European Union’s carbon removals certification Framework (CRCF), I4CE helped organise the European Carbon Farming Summit in Valencia, as part of the CREDIBLE project. The high level of stakeholder participation at the summit testifies to the expectations that this new tool will contribute to a better economic valuation of carbon farming practices. The summit raised high hopes for improving and harmonising carbon measurement to certify projects, in particular through remote sensing, in a sector where there is a great deal of uncertainty. While it is vital to improve measurement and monitoring, uncertainty must not be allowed to justify inaction, and the key is to find the right balance between cost and accuracy.
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03/08/2024
Foreword of the week
Fossil fuel phase-out: Development banks need to play a bigger role
A couple of months ago, COP28 called for the acceleration of efforts “towards the phase-down of unabated coal power”. Limiting temperature rise to 1.5°C requires stopping the construction of new coal power plants, that’s for sure. But it also requires retiring existing plants before the end of their lifetimes, which can be more challenging. Public development banks (PDBs) are well-positioned to help overcome barriers to coal phase-out and support countries with the transition to decarbonised electricity systems. A growing number of these banks are exploring strategies to accelerate the early retirement of coal plants. Yet these efforts may carry risks of unintended adverse impacts.
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03/07/2024
Financing Coal Phase-out: Public Development Banks’ Role in the Early Retirement of Coal Plants
Public development banks have the potential to facilitate the transition from coal to renewable alternatives in developing and emerging countries by fostering conditions conducive to the early retirement and repurposing of coal plants. Co-written with NewClimate Institute, this report highlights the challenges associated with the early retirement of coal plants and examines public development banks’ role in collaborating with national governments and power producers to support coal phase-out.