Indonesia and the Philippines will join the coal transition program

#accelerate #crucial #strengthening 
Indonesia, the Philippines and India will follow South Africa in accelerating the coal transition as the first recipients of the multi-billion dollar pilot scheme, the Climate Investment Fund (CIF) said on November 4.
These four countries account for 15 per cent of global coal-related emissions. Reducing their carbon emissions will help accelerate the world's goal of net zero emissions by 2050.
Indonesia is committed to reducing the number of coal-fired power plants in the country and replacing them with renewable energy as part of its energy transition, energy Minister Tasrif Said.
The fund says its plan to Accelerate the Coal Transition, or ACT, is the first aimed at developing countries. These countries lack the resources to finance the energy transition, and phasing out coal is seen as crucial to meeting the goal of limiting global temperature rises to 1.5C by 2030.
The new plan will invest in projects ranging from strengthening the nation's capacity to manage the energy transition to decommissioning or other uses of coal assets and creating economic opportunities for coal-dependent communities.