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

Spotify: https://str.sg/JWag

Feedback to: [email protected]

---

Follow more ST podcast channels:

All-in-one ST Podcasts channel: https://str.sg/wvz7

Get more updates: http://str.sg/stpodcasts

The Usual Place Podcast YouTube: https://str.sg/4Vwsa

---

Get The Straits Times app, which has a dedicated podcast player section:

The App Store: https://str.sg/icyB

Google Play: https://str.sg/icyX

---

#greenpulse

See omnystudio.com/listener for privacy information.