Transition credits need to be at least $30 to hasten coal phase-out: CIX chief

(Image: Freepik / standret)

Mikkel Larsen, CEO of Climate Impact X, a Singapore-based carbon credit trading platform, suggested that the pricing of transition credits should start at 30 USD per ton to effectively encourage the early retirement of coal-fired power plants while ensuring fairness in the transition to green energy.

Many coal-fired power plants in Southeast Asia are major contributors to climate change, yet they provide nearly half of the region's electricity. Some of these plants have completed recently, making early retirement with significant costs.