TransitionZero becomes GFANZ workstream partner on the managed phaseout of coal in APAC

Media release

London, UK, 5 June, 2023: Today the Glasgow Financial Alliance for Net Zero’s (GFANZ) APAC Network launched a public consultation on its proposed set of voluntary guidelines for financing the early retirement of coal-fired power plants in Asia-Pacific.

TransitionZero was a knowledge partner of the working group that developed the report, providing technical input. This consultation will support the production of a final report ahead of COP28.

To achieve a transition away from coal power and maintain an affordable and dependable energy supply, particularly in light of growing demand, meticulous planning is essential to decrease reliance on coal and expedite investments in renewable energy sources. TransitionZero’s open source tools provide local policy makers, financial institutions, researchers and interest groups access to verified asset-level data that allows them to make informed decisions about energy transition pathways.

In response to the consultation, Matt Gray, Co-founder and CEO of TransitionZero, commented:

“Phasing-out coal is the number one priority to meet the temperature goal of the Paris Agreement. Collaboration among investors, policymakers and civil society is essential to close coal in an economically efficient and socially responsible way. We hope our open data products, Coal Asset Transition Tool and Model Builder, can help GFANZ with its endeavours.”

For more information on GFANZ APAC Network’s consultation for managed phaseout of coal please click here.

About TransitionZero

TransitionZero is a climate analytics non-profit established in 2021. We build accessible, auditable and open energy transition planning products, supporting mission-aligned organisations. For more information on how your organisation or initiative can access our data and analytics, visit our website or contact us.

For media interviews, comments or press queries, contact:

Simone Huber - Communications and Marketing Manager, TransitionZero

simone@transitionzero.org