At COP31, Partnerships Launched To Help Nations Move From Coal To Clean Power

(MENAFN- IANS) Antalya (Türkiye), Nov 10 (IANS) Countries looking to move from coal to clean power will get tailored and coordinated support through the Coal Transition Partnerships initiative launched on Tuesday by the Powering Past Coal Alliance (PPCA) at the UN Climate Summit (COP31) underway here.

The partnerships will help them build cleaner, more affordable and resilient power systems while meeting rising electricity demand and managing the impacts of the energy crisis.

The scarcity and high price of gas have put energy security at the top of every government's agenda, and some countries are turning to coal to keep the lights on. The risk is that short-term fixes become decades of lock-in through new investments and policies, raising costs and emissions. Over the long term, clean power will be substantially cheaper and better suited to the new demands for flexibility that electrification is placing on the grid, but making the switch in the middle of a crisis is hard. The Coal Transition Partnerships respond to these challenges.

Tailored to countries' priorities and circumstances, each partnership will provide rapid support to power sector decision-makers, including governments and utilities, at the critical early stages of a coal-to-clean transition. They will help them develop robust transition plans and prepare investable projects to tap at least $23 billion already allocated to the coal transition, much of which remains unused, as shown by the Coal-to-Clean Finance Catalogue published by the PPCA in October.

Eight finance and technical partners have joined the Coal Transition Partnerships initiative, including the Asian Development Bank (ADB), the Climate Investment Funds (CIF), the European Bank for Reconstruction and Development (EBRD), RMI, the Carbon Trust, TransitionZero, Asia Investor Group on Climate Change (AIGCC) and Clean Energy Bridge.

They will be working with the PPCA to connect countries with their existing support. The initiative also has political backing from PPCA government members and partners, including Canada, France, Germany, Indonesia, the Netherlands and Britain.

The first country-led partnerships are expected to be announced in 2027. The partnerships respond to a central challenge facing COP31: how to support countries in accelerating the implementation of climate action.

By COP33 in 2028, the partnerships aim to support around 10 of the world's 21 most coal-dependent countries identified by the IEA, focusing on those at the early stages of planning for the transition. Together with countries already developing and delivering transition plans, this would put the large majority of the world's most coal-dependent economies on a clear path to clean power, a decisive step for the global energy transition.

Oman, which has never had coal power, has joined the PPCA at COP31 and committed to maintaining a coal-free power system, bringing the alliance to 184 national and subnational governments, businesses and organisations and showing continued momentum behind the coal-to-clean transition.

Katie White, UK Minister for Climate Transition and PPCA Co-Chair, said,“Britain has already moved beyond coal power, and we're far from alone. Countries around the world are joining forces to make the switch to cleaner, cheaper energy. Working with Canada and other partners, we're sharing what we've learned and helping more countries make that change, cutting costs and strengthening energy security for us all.”

Farah Heliantina, Assistant Deputy for the Acceleration of Energy Transition in the Coordinating Ministry of Economic Affairs, Indonesia and Co-Chair of the Coal Transition Commission, hosted by the PPCA, said,“In Indonesia we have been working on accelerating the coal to clean transition because we recognise that it is essential not only for enhancing competitiveness and developing a more modern energy system, but also for supporting sustainable economic growth."

“However, our experience has taught us how challenging this transition can be, particularly as we navigate rapidly rising electricity demand and global energy market uncertainties, while prioritising energy security, ensuring a reliable power supply, and sustaining economic growth. We have therefore worked with the PPCA to develop these coal transition partnerships to help every country access the expertise and financing needed to navigate these challenges and succeed in this difficult but important endeavour,” Heliantina said.

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