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From black to green: A new type of carbon credit could speed up the region’s shift to renewable energy and cut air pollution
Synopsis: Every first and third Tuesday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.
Carbon credits are increasingly regarded as a key way to accelerate investment in renewable energy in Asia while also shutting down polluting coal plants early. Burning coal is a top source of planet-warming CO2 and air pollution.
Asia faces a major challenge of meeting its growing appetite for electricity while also curbing emissions growth. A further challenge: The average age of coal power plants in the region is about 15 years – when the plants have a life of up to 50 years.
To compensate plant owners, a coalition of power companies, banks, governments and philanthropy have come together to embrace transition credits, which monetise each tonne of CO2 saved from shutting down a coal plant early. The money from credit sales helps pay for the renewable energy power generation that replaces the coal power plant.
But how far are we from viable transition credit projects and the sale of these credits? And who will buy them?
Join Green Pulse hosts Audrey Tan and David Fogarty as they discuss these questions in this episode.
Have a listen and let us know your thoughts!
Highlights of conversation (click/tap above):
1:42 What are transition credits?
3:53 Are there any projects in the pipeline that could yield transition credits?
5:53 Any idea how much transition credits might be?
9:08 Who will be the main buyers?
11:46 What are the criticisms of transition credits?
16:19 The chicken-and-egg problem. Build the green power project first, credit money comes later.
Follow Audrey Tan on LinkedIn: https://str.sg/848W
Read her articles: https://str.sg/JLM2
Follow David Fogarty on LinkedIn: https://str.sg/jcvy
Read his articles: https://str.sg/JLMu
Hosts: Audrey Tan ([email protected]) & David Fogarty ([email protected])
Produced and edited by: Hadyu Rahim
Executive producers: Ernest Luis & Lynda Hong
Follow Green Pulse Podcast here and get notified for new episode drops:
Channel: https://str.sg/JWaf
Apple Podcasts: https://str.sg/JWaY
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Feedback to: [email protected]
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Chapters
1. Can transition credits help SE Asia kick the coal habit? (00:00:00)
2. What are transition credits? (00:01:42)
3. Upcoming projects for transition credits? (00:03:53)
4. How much might these credits cost? (00:05:53)
5. Who'll likely buy transition credits? (00:09:08)
6. Criticisms of transition credits? (00:11:46)
7. Green project first or credit first? (00:16:19)
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