Sunday, May 28, 2023

US and RI agree to accelerate Indonesia’s transition to renewable energy

Bali, , President Joe Biden’s Special Envoy for Climate John Kerry visited Bali from 30 August to 2 September 2022 to participate in the G20 Environment and Climate Ministerial Meetings, as well as Indonesia’s fair transition to renewable energy with the Indonesian government To expedite bilateral talks.

Minister Kerry and the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan agreed on a framework to accelerate the spread of renewable energy in Indonesia this decade, with the United States, Japan and other partner countries, both public and private. Raising funding is important. Investing in Indonesia’s energy transition.

Special Envoy Kerry and Coordinating Minister Luhut also aimed to accelerate the development of renewable energy systems by accelerating the transition from coal-fired power plants to renewable energy, including increasing rapid deployment of renewable energy through policy reforms. Agreed on the urgency to decarbonise. Energy efficiency, reducing consumption and discontinuing use, coal, and end-use efficiency, while strengthening efforts to achieve universal, affordable, and reliable energy access.

They reaffirmed that funding for the energy transition, including public and private finance, would be an important tool to support Indonesia’s energy transition, and the United States expressed its commitment to raising finances to support the transition. Minister Kerry and Coordinating Minister Luhut also held discussions with several financial institutions.

These private finance representatives, all of whom are members of the Glasgow Financial Alliance for Net Zero (GFANZ), provided their support for a fair energy transition in Indonesia and in terms of agreements on renewable infrastructure and capital availability for the coal transition. Tried to expand. mentioned above, and share your views on the steps to be taken to implement this Agreement.

This is the first time that financial institutions have collaborated with the governments of Indonesia and the United States to discuss in detail the requirements needed to mobilize their finances for Indonesia’s energy transition.

Indonesia expressed its intention to implement the necessary measures to facilitate the acceleration of grid-scale renewable energy in this decade. They discussed ways to expand and accelerate cooperation and support for the transition.

Both countries recognize the need to mobilize significant public and private funding to follow up on this transition. They agreed to meet over the next two weeks to work towards finalizing the agreement and expressed their enthusiasm for the progress made.

“The United States is committed to working with other partner countries to mobilize investments to support Indonesia’s energy transition,” Minister Kerry said.

Coordinating Minister Luhut said Indonesia is determined to transform Indonesia’s electric power system from coal to renewable energy and enhance Indonesia’s leadership in the climate crisis.

“Indonesia looks forward to sustainable and integrated financing commitments from developed countries, multilateral institutions, philanthropists and investors, as well as capacity building and technical assistance to implement an appropriate energy transition for our shared future, and sees this partnership as this must ensure that this infection does not impede growth and economic growth,” Luhut said. [KM-01]

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