Rockefeller Foundation Backs Coal Phase-Out via Carbon Credits

The Rockefeller Foundation is backing the world’s first coal-to-clean pilot project in the Philippines that will use carbon credits to enable early decommissioning of a coal-fired power plant.   The Coal to Clean Credit Initiative (CCCI), which has support from The Rockefeller Foundation, announced on Monday at the COP28 climate summit a new collaboration with ACEN Corporation to explore a pilot project in the Philippines that would use carbon finance to phase out a coal-fired power plant and replace it with renewable energy.  …