Limiting global average temperature rise to 1.5°C requires stopping the construction of new coal power plants, and that many existing plants must retire early, before the end of their technical lifetimes. Early phase-out of coal assets faces a number of financial, regulatory, and political barriers.

NewClimate Institute, together with the Institute for Climate Economics (I4CE), are developing guidance for the early retirement of coal-fired power generation, focusing on public development banks.

Throughout the project, they engaged with public development bank practitioners and civil society experts and hosted several workshops, including at the Finance in Commons Summit (FiCS) 2023 and COP28. They also responded to the 2023 GFANZ public consultation on Financing the Managed Phaseout of Coal-Fired Power Plants in Asia Pacific. 

The project runs from March 2023 through April 2024 and receives financial support from the European Climate Foundation (ECF).