Coal supplies just over a third of global electricity generation, but accounted for over 40% of the overall growth in global CO2 emissions in 2021. In order to achieve the International Energy Agency’s Net Zero Emissions by 2050 scenario, all unabated coal generation needs to end by 2040.
Coal-fired power plant or coal asset owners sit at the centre of the systemic change required for the global clean energy transition. The Coal Asset Transition Accelerator (CATA) is a first-of-its-kind platform that is focused on empowering coal asset owners, alongside governments, financiers and key local stakeholders, to put in place the financial mechanisms that will support acceleration of the transition away from coal in a just and inclusive way.
The Pooled fund on International Energy (PIE) hosted at the European Climate Foundation (ECF), the Carbon Trust, Climate Smart Ventures (CSV) and RMI partnered to initiate CATA, which was launched at COP26 in Glasgow in 2021.
CATA is delivered by the Carbon Trust, RMI and Climate Smart Ventures
Established in 2001, the Carbon Trust works with businesses, governments and institutions around the world, helping them contribute to, and benefit from, a more sustainable future through carbon reduction, resource efficiency strategies, and commercialising low carbon businesses, systems and technologies. Headquartered in London, the Carbon Trust has a global team of over 400 staff, representing more than 30 nationalities based across five continents.
RMI decarbonizes energy systems through rapid, market-based change in the world’s most critical geographies to address the climate crisis. We work with businesses, communities, and policymakers to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030.
Climate Smart Ventures is a transition and transaction advisory firm with a track record for bringing together the region’s leading power asset owners, debt and equity providers, ESG investors and experts in accelerating energy transition in a just, orderly, and competitive manner with focus on emerging markets. To date, CSV has supported multilateral development banks, investors and corporates on developing robust and value creating transition strategies with the goal of delivering a just and managed energy transition suited to power hungry emerging market contexts.
To date, CATA has been incubated by PIE ECF and funded by Growald Climate Fund and IKEA Foundation
The Pooled-fund on International Energy (PIE) is an international grant making and strategy platform. PIE supports leading organisations to work with governments, business and societies to overcome the barriers to clean energy and clean steel and to achieve our common goals of a safe climate, clean air and a just energy transition.
The IKEA Foundation is a strategic philanthropy that focuses its grant making efforts on tackling the two biggest threats to children’s futures: poverty and climate change. It currently grants more than €200 million per year to help improve family incomes and quality of life while protecting the planet from climate change. Since 2009, the IKEA Foundation has granted more than €1.8 billion to create a better future for children and their families. In 2021, the board of the IKEA Foundation decided to make an additional €1 billion available over the next five years to accelerate the reduction of greenhouse gas emissions.
Growald Climate Fund is a high-impact venture philanthropy fund catalyzing the rapid transition to a clean energy future. Growald helps create agents of change and activate innovation and collaboration within the energy transition sector, enabling collective impact for fast, equitable progress.