Denmark will donate DKK 100 million to the Climate Investment Fund’s (CIF) new Accelerating Coal Transition program, Devdiscourse reports.
CIF’s new program is a first-ever effort to advance a just transition from coal power to clean energy in emerging economies with Indonesia, the Philippines, South Africa, and India being selected as the first beneficiaries of the initiative.
In a statement, Denmark’s Foreign Minister Jeppe Kofod said, “As part of our comprehensive climate efforts, the Danish government is working to phase out coal while also investing massively in new green energy sources.”
About the donation to CIF, Minister for Climate and Energy Dan Joergensen said the money “will help coal-intensive countries reduce their coal consumption and create new income opportunities in local communities, which is absolutely vital to accelerating the energy transition.”
According to the Danish government, the program includes efforts supporting alternative employment of the local population in impacted areas.