Under the Singapore-Asia Taxonomy, the Monetary Authority of Singapore (MAS) has initiated a public consultation to gather feedback on the specific thresholds and criteria to finance the early decommissioning of coal-fired power plants.
The conditions for financing include economic viability, replacement with clean energy sources that have an equivalent electricity capacity, a phase-out timeline by 2040, and a maximum operational lifespan of 25 years. Additionally, the owner of the plant must commit to not developing any new coal-fired power plants and must establish a transition plan to achieve full alignment with the Government of Singapore’s climate goals by 2030.
Those who are interested in providing input on these criteria are encouraged to submit their comments before July 28, 2023.