India, Indonesia and Philippines Become Part of Coal Transition Program

India, Indonesia, and the Philippines are set to join South Africa as the first to receive climate funding from the world’s largest countries to phase out coal.

The multilateral Climate Investment Funds (CIF) announced on Nov. 4 that the four countries — collectively accounting for 15 percent of the world’s coal emissions — will participate in the pilot of a $2.5 billion energy transition program.

The Accelerating Coal Transition (ACT) investment program, according to CIF, is the first ever program that will directly fund the transition of developing countries from fossil fuel energy to clean energy by phasing out coal power.

Phasing out coal and its related emissions is a vital move to limit the global temperature to 1.5 degrees Celsius by 2030 and a key goal of the ongoing UN COP26 climate summit in Glasgow, Scotland.

The investment program is backed by United States, United Kingdom, Germany, Canada, and Denmark.

South Africa first announced on Nov. 2 that it will receive funding from Germany, the U.K., the U.S., France and the EU to help phase out its coal use.

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