The new Partnership for Carbon Accounting Financials guidance goes beyond the dominant financed emissions metric and could be used to quantify avoided emissions from financing the early phase-out of coal, which has gained momentum in Asia.

Cirebon 1’s financial advisor says the model "might not be replicable" nationwide as grid stability costs were overlooked early on and transition credits – being trialled in the Philippines – may not apply. Updates on the pending transaction are expected at COP29.

Studio EB Amid escalating climate losses and no net zero goal in sight, a newly proposed Low Carbon Economy Investment Act and ambitious private sector-led initiatives only way for Philippine industries to decarbonise.

A new climate guide for the region’s boards of directors warns of growing legal consequences for corporate stewards who fail to account for climate and sustainability-related risks.