Bali, 16 November 2022 (TDI): In a joint statement, Indonesia’s President Joko Widodo and representatives of the International Partners Group (IPG) announced the creation of the Just Energy Transition Partnership (JETP).
This collaboration aims to secure climate goals and related funding. The JETP was officially launched on Tuesday at the Partnership for Global Infrastructure and Investment (PGII) event that was hosted in Bali on the sidelines of the G20 Summit.
The alliance works to transform Indonesia’s power sector in a way that is both ambitious and just. It encourages a course that will keep the 1.5 degree Celsius global warming goal within reach.
Indonesia will seek to create a comprehensive investment strategy to lower greenhouse gas emissions with assistance from international partners. Additionally, it will support affected communities by carrying out specific actions.
Moreover, the long-term collaboration plans to raise the initial US $20 billion over a three- to five-year period to meet the goals are part of it.
Also, the stakeholders will cooperate over the following six months to create a detailed plan. This will be used to achieve these objectives through investments, funding, and technical support.
Warm congratulations to Indonesia & its partners, led by 🇺🇸 & 🇯🇵, for finalising the Indonesia Just Energy Transition Partnership – exactly the type of international cooperation needed to finance energy transitions@IEA is proud to have underpinned development of the JETP
— Fatih Birol (@fbirol) November 16, 2022
Indonesia continues to be committed to using its energy transition, according to the country’s President Joko Widodo. This will be used to promote sustainable development and a green economy.
“We are grateful for the cooperation and the support from our international partners to realize its full implementation that will accelerate this transition,” Widodo said.
“This partnership will generate valuable lessons for the global community. Also, this can be replicated in other countries to help meet our shared climate goals through concrete collaborative actions,” he added.
In this regard, US President Joe Biden also stressed the significance of this partnership. He claimed that throughout the partnership’s development, Indonesia has shown great leadership and vision.
Fumio Kishida, the Prime Minister of Japan, also spoke in this context. Japan, according to him, is pleased with the beginning of the relationship supporting Indonesia’s commitment to the 1.5-degree target.
“Japan will continue to co-lead the Partnership with the US, in coordination with the other partner countries. In addition, it will accelerate Indonesia’s transition from coal to renewable alternatives, with further private sector engagement,” Kishida stated.