Sustainability Economics, a leading provider of global net-zero solutions, has announced the choice of the Asia Carbon Institute (ACI) as the standard for evaluating our transition credits methodology, which aims to expedite the phase-out of coal-fired power plants (CFPPs) in the Asia region.
ACI is an independent non-profit organization that has established voluntary carbon credit standards and a registry. It is committed to accelerating the transition to a carbon-neutral economy by producing credible, transparent, and high-quality carbon credits. ACI is also a member of the TRACTION group led by the Monetary Authority of Singapore (MAS), which is focused on developing transition credits as a complementary financial instrument for the early retirement of Asia’s coal plants.
Sustainability Economics is a leading global provider of end-to-end net-zero solutions across multiple sectors. Their expertise combines extensive domain knowledge with state-of-the-art digital platforms and advanced technologies, prioritizing lifecycle management and automation by connecting the dots to deliver comprehensive net-zero transition solutions for high-emission sectors.
Kasu Venkata Reddy, Co-Founder/CEO of Sustainability Economics: “We are thrilled to partner with Asia Carbon Institute in our shared mission to accelerate the transition towards clean energy sources in Asia. This collaboration underscores our commitment to driving sustainable solutions and combating climate change.”
John Lo, Founder of Asia Carbon Institute: “We are pleased that Sustainability Economics has chosen ACI as the standard for evaluating their transition credit methodology. This marks a significant milestone in our efforts to establish transparent standards for carbon credits and accelerate the transition to a carbon-neutral economy.”
Transition Credits
Coal-fired power generation remains a significant contributor to global carbon emissions, particularly in Asia, where a concentration of young CFPPs, averaging less than 15 years old, exists. To address this pressing issue, Sustainability Economics will work with ACI and submit a methodology that facilitates 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.
Market Driven Solution
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).
Practical and Crafted Methodology
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.
Related Stories:
FedEx Introduces FedEx® Sustainability Insights in AMEA to Support Customer Emissions Reporting
What is sustainability? Five key focus areas of corporate sustainability
Former ‘Nickelodeon’ Child Star Madisyn Shipman Joins Playboy, Sheds Squeaky-Clean Image
SRK’s Son Aryan Khan Heads Abroad for First Time Since Getting Clean Chit in Drug Case
Visa partners Grow Asia as Business Council Co-Chair to support financial inclusion for smallholder farmers in Southeast Asia
NASA Confirms Launch Date for Its Massive Moon Rocket
Celebrating World Sustainable Energy Day 2023: The Benefits of Renewable Energy
Can Crypto Clean Up its Act? Green Initiatives Offer a Glimpse into a Sustainable Future
