Appraisal of Denmark’s support to Climate Investment Fund’s Accelerating Coal Transition (ACT) investment program

Coal as an energy resource accounts for about 30% of the projected global temperature increase and thus, makes it the single largest driver of climate change. Nevertheless, the phase-out of the resource often meets strong opposition from public and private actors as there are strong economic and political incentives to maintain coal as a major energy resource. This is why the Climate Investment Fund (CIF) initiated the Accelerating Coal Transition (ACT) Program in early 2021 at COP 26. Denmark pledged a contribution in the amount of DKK 100 million to the program in 2022. PEM won the tender to provide quality assurance for the investment and its related documentation in accordance with the MFA Aid Management Guidelines. PEM partners Stephanie Oksen and Jens Lorentzen further proposed recommendations for adjustments and improvements of the project document.