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The document highlights Indonesia's climate crisis, noting record temperatures in Larantuka and the country's position as a top ten global greenhouse gas emitter due to coal dependency. It criticizes the government's continued construction of coal-fired power plants (PLTU), the use of biomass co-firing that threatens forests and indigenous peoples, and the environmental damage caused by nickel mining for electric vehicle batteries. The guide advocates for community-based renewable energy and provides a framework for individual and collective action, including reducing transport emissions, mindful consumption, and demanding political accountability.

The 2024 Private Equity Climate Risks Scorecard reveals that 21 analyzed private equity firms are responsible for an estimated 1.17 gigatons of annual emissions from upstream operations, LNG terminals, and coal plants. The report argues that the industry's lack of transparency and continued investment in fossil fuels obstruct the global transition to a 1.5°C warming scenario. It ranks firms from 'B' to 'F', with EIG Global Energy Partners receiving the lowest grade due to its high emissions and low alignment with climate demands. The authors call for mandatory disclosures and a just transition for workers and impacted communities.

The 2024 Private Equity Climate Risks Scorecard reveals that the energy portfolios of 21 analyzed private equity firms are responsible for 1.17 gigatons of annual CO2 equivalent emissions. As of July 2024, 66 percent of these portfolios remain invested in fossil fuels, primarily in upstream fossil fuels, LNG terminals, and coal plants. The report argues that these investments expose firms and their investors—including public sector pension funds—to significant financial risks such as asset stranding, citing the bankruptcy of at least 60 U.S. coal companies between 2012 and 2022. The firms are evaluated against standards including science-based targets, fossil fuel disclosure, energy transition plans, environmental justice, and lobbying transparency.

The document is a letter expressing concern over Energy Capital Partners' (ECP) pending acquisition of Lightstone Holdco LLC, which owns the General James M. Gavin Power Plant. The authors highlight the plant's high emissions and public health risks, contrasting this acquisition with Bridgepoint's public commitments to decarbonisation and sustainability. They request a commitment to retire the plant by 2028.

The report calculates that the planned expansion of the Afşin Elbistan A Thermal Power Plant will cause significant public health damage and economic losses. In the first year of operation (2028), the project is estimated to cause 42 deaths and cost the economy 58.1 million USD. Over a 35-year operational period (2028-2063), the cumulative impact is projected to be 2,268 deaths and an economic cost of 2.6 billion USD, which the authors equate to the cost of building 29 hospitals with 500 beds each.

The report examines the Rempang Eco City project, a National Strategic Project (PSN) in Indonesia's Riau Islands, which is promoted as a green industrial zone for solar panel glass manufacturing. It argues that the project, linked to the Just Energy Transition Partnership (JETP) framework, has resulted in forced evictions, human rights violations, and the marginalization of indigenous Malay, Orang Laut, and Orang Darat communities. The analysis reveals a lack of transparency in the PSN designation process and suggests that the project is driven by a network of global and local elites, specifically citing the involvement of Xinyi Group and the use of shell companies in the British Virgin Islands to obscure beneficial ownership. The report concludes that the transition to green energy is being used as a cover for land grabbing and corruption, calling for the recognition of customary land rights and a re-evaluation of JETP's social justice criteria.

The report examines the Rempang Eco City project, a National Strategic Project (PSN) in Indonesia's Riau Islands, which is promoted as a green industrial zone for solar panel glass production. It argues that the project contradicts the principles of the Just Energy Transition Partnership (JETP) by causing forced evictions, human rights abuses, and social conflict among indigenous Malay, Orang Laut, and Orang Darat communities. The analysis reveals that the project's primary investor, Xinyi Group, plans to use a 2 GW coal-fired power plant, undermining its 'green' label. Furthermore, the report alleges systemic corruption and a lack of transparency, identifying PT Makmur Elok Graha (PT MEG) as the concession holder and tracing its ownership through shell companies in the British Virgin Islands to hide the beneficial ownership of figures like Tomy Winata. The document concludes that the project prioritizes elite profit and foreign investment over the rights and basic needs of local residents, who continue to face electricity shortages while the region is developed for energy exports to Singapore.

The report tracks the shift in China-Africa energy cooperation from large-scale infrastructure and thermal power projects toward 'small and beautiful' green initiatives. It highlights a growing alignment between China's commitment to stop funding overseas coal-fired projects and Africa's strategic priorities for climate finance, renewable energy access, and resilient infrastructure. While China offers technological and financial aid, the report notes that some African priorities, such as critical minerals, remain insufficiently addressed.

The report finds that Türkiye's domestic coal power plants are incapable of providing baseload electricity, characterized by an average availability rate of 52% and significant annual production losses of 22 TWh due to malfunctions. Despite this poor performance, coal-fired generation reached a record 118 TWh in 2023, contributing 20% of the country's total carbon emissions. The analysis highlights that domestic lignite plants are particularly inefficient, with energy efficiency 15% below the EU average, and some wind farms now achieve higher capacity factors than these coal plants. The document argues that Türkiye lacks a coal phase-out strategy, with some licenses extending to 2069, and recommends transitioning to cheaper renewable energy to meet its 2053 net zero target and mitigate potential EU Carbon Border Adjustment Mechanism (CBAM) costs.

The briefing examines how battery energy storage systems (BESS) can replace fossil fuel generation to ensure grid reliability. It details three primary functions of batteries: balancing variable renewable energy supply and demand, providing stability services like frequency and voltage regulation, and enabling 'black start' capabilities to restore power after blackouts. The author contends that batteries often offer lower costs and faster response times than thermal plants. To maximize these benefits, the document recommends that utilities conduct analytical studies to identify specific reliability needs and utilize all-source procurement processes to ensure the most cost-competitive resources are selected.

The Gavin Coal Plant, owned by Lightstone Generation (a Blackstone and ArcLight Capital Partners joint venture), faces significant financial instability due to declining revenues in the PJM Interconnection market and high debt burdens. The plant is also subject to substantial EPA-mandated cleanup costs for coal ash contamination following a June 2024 court ruling. With the broader U.S. coal industry in decline and institutional investors divesting from thermal coal, the report urges pension funds to pressure owners to retire the plant responsibly to avoid the community and financial losses seen in other coal plant closures.

The report argues that for China's power sector to meet its 2030 peak emissions and 2060 carbon neutrality targets, electrical utilities must develop credible, science-based transition plans. These plans serve as the foundation for transition finance instruments, such as Use of Proceeds (UoP) bonds and sustainability-linked bonds (SLBs). While China is a major global issuer of SLBs, the report notes a lack of alignment with rigorous standards, as many domestic issuers focus on renewable energy capacity rather than comprehensive greenhouse gas (GHG) emission reduction targets. The document provides a framework for utilities to develop transition plans and select appropriate financial tools to support low-carbon development, including the retirement of coal assets and grid optimisation.

The report finds that U.S. residential electricity rates have generally kept pace with economy-wide inflation since 2010, and that states with high clean energy growth often see rates rise slower than inflation. Instead, the report identifies natural gas price volatility, wildfire mitigation and liability costs, aging coal plant investments, and rising transmission and distribution costs as the primary drivers of rate spikes. It further argues that the regulated utility business model incentivizes capital-heavy investments over more cost-effective operational solutions, which compounds these costs for consumers.

RMI conducted a pre-feasibility analysis on a coal power plant in Indonesia's Java-Bali region, evaluating four transition scenarios: baseline operation, early retirement without repurposing, early retirement with clean energy repurposing, and biomass co-firing. The analysis found that early retirement is financially feasible, especially with blended financing, and that clean repurposing via solar PV and battery storage offers the highest value and emissions reductions, provided land constraints are overcome. Conversely, biomass co-firing was found to be generally unprofitable due to high retrofit costs.

The document argues that the U.S. coal fleet is already in a sustained economic decline, making the EPA's emissions rules a catalyst for prudent utility planning rather than a source of economic or reliability risk. It asserts that the 2032 compliance timeline is sufficient for utilities to procure replacement resources, citing hundreds of gigawatts of 'shovel-ready' projects in interconnection queues. The authors maintain that 'baseload' coal is no longer necessary for grid stability, as portfolios of wind, solar, battery storage, and low-utilization gas can meet peak loads and growing demand without compromising reliability.

The report identifies a systemic network of financial support for Indonesia's coal industry, noting that between 2020 and 2023, at least IDR 163 trillion was disbursed to coal-related activities. It highlights the role of state-owned banks, particularly Bank Mandiri and Bank Rakyat Indonesia, as primary funders. The document argues that this financial support, combined with 'regulatory capture' and the influence of a wealthy elite (the 1%), creates a state of 'climate delay.' It specifically criticizes the OJK's updated green taxonomy for labeling certain coal-fired power plants as 'Green' or 'Transition,' which the authors characterize as greenwashing. The report also maps the ownership and political affiliations of seven major coal companies, linking them to politically exposed persons and individuals listed in Offshore Leaks.

The report identifies a systemic link between Indonesia's coal industry, political elites, and national banks, which continues to fund fossil fuel expansion despite global climate commitments.

The report argues that Indonesia's biomass co-firing program primarily benefits large conglomerates and politically connected elites rather than promoting a just energy transition. It highlights how companies affiliated with groups like Sinarmas, Korindo, and Medco dominate energy plantation forest (HTE) concessions, often through opaque ownership structures or 'shadow companies'. The document details instances of deforestation, land conflicts with indigenous peoples (notably in Papua and NTB), and the persistence of 'carbon debts' resulting from the conversion of natural forests to HTE. Furthermore, it notes that some biomass suppliers are also coal traders, and that the actual biomass used in PLTUs often consists of unregulated sawdust rather than the planned wood pellets, undermining the program's environmental claims.

A collaboration between University College London and the International Institute for Sustainable Development (IISD) asserts that existing fossil fuel capacity is sufficient to meet energy demand under 1.5°C-aligned scenarios. The authors propose a "No New Fossil Fuels" norm as a politically and legally feasible first step toward a full transition, noting that peer-reviewed science indicates no room for new oil and gas fields or coal- and gas-fired power plants.

The EPA has finalized a new rule closing a loophole in the 2015 Coal Ash Rule that previously exempted landfills and waste piles that stopped receiving coal ash before the rule's inception. This loophole allowed 320 coal plants across 41 states to avoid cleanup requirements for over half a billion tons of coal ash. The new regulation requires power plant owners to monitor and clean up all coal ash dumps to prevent the contamination of groundwater and drinking water, addressing a risk that affects an estimated 91 percent of coal plants.