Our feature report on the use of transition credits to phase out coal-fired power in the Philippines was recognised among other regional newsrooms for editorial excellence.
Signatories to the global corporate initiative can now use these certificates to make renewable energy claims in China, after authorities addressed previous concerns around double-counting.
The mechanism could also financially benefit the state utility company PT Perusahaan Listrik Negara (PLN) and attract private investments without burdening the state budget to scale renewable energy.
Across the region, private investments in green projects saw a substantial 43-per-cent increase year on year, led by solar deals. But progress is uneven and Southeast Asia still struggles to close an annual funding gap of US$50 billion by 2030.