New carbon finance tools can accelerate Asia's energy transition

Philippine coal plant emerges as test of case for innovative climate action

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Coal barges in North Jakarta: Private-sector institutions are wary of involvement in any financing that touches the coal sector, even if the ultimate goal is to reduce emissions. © Reuters

Naveed Tariq is CEO of Seagrass, an Abu Dhabi-based carbon finance provider owned by German utility company E.ON.

In the Philippine province of Batangas, 100 kilometers south of Manila, a 270-megawatt coal-fired power plant is at the heart of a bold financial experiment that could usher in a new form of climate finance.

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