A few dozen kilometres from the Philippine capital Manila sits a coal plant that some hope could be a model for how developing countries can quit the polluting fossil fuel.
BANGKOK -
Carbon credits essentially allow a polluter to"offset" their emissions by paying for"avoided" emissions elsewhere. "There's not one coal plant, of all the 4,500 in emerging markets and developing countries, that has been shut down and replaced with clean power," said Curtin.Coal employs millions of people directly and indirectly, as well as offering affordable and reliable baseload power.Government and industry heavyweights are often invested in coal, and in Asia especially plants tend to be young, meaning years of lost income if they close early.
The idea has faced criticism however, particularly after revelations about problems with other carbon credit projects. "It's hard to know what are the forces pushing for and against coal phaseout today," said Gilles Dufrasne from the Carbon Market Watch think tank."These forces, economic and political, can change quite significantly over time," he told AFP.
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