On November 15, President Biden, Indonesian President Widodo, Japanese Prime Minister Kishida and different world leaders introduced the launch of the Simply Power Transition Partnership (JETP) in Indonesia, a landmark, long-term partnership designed to create an bold and simply energy sector transition in Indonesia, according to retaining the 1.5 °C international warming restrict inside attain.
This JETP will considerably speed up Indonesia’s transition towards a cleaner power future, decreasing cumulative greenhouse fuel emissions by greater than 300 megatons by means of 2030 and a discount of effectively above 2 gigatons by means of 2060 from Indonesia’s present trajectory.
The partnership additionally features a goal, for the primary time, a 2030 peaking date for Indonesia’s energy sector emissions together with from on-grid, off-grid and captive energy techniques, shifting the projected peak seven years earlier.
The JETP will focus not solely on delivering sturdy emissions reductions, but additionally on driving sustainable improvement and financial progress, whereas defending the livelihoods of communities and employees in affected sectors.
Alongside our Japanese co-leads, the Workplace of the Particular Presidential Envoy for Local weather (SPEC) and Treasury groups have labored intently with Indonesia and Worldwide Companions Group nations during the last 9 months to develop a partnership that mixes a excessive stage of Indonesian local weather ambition with $20 billion in mixed sources from private and non-private companions, to assist Indonesia’s purpose of a swift and simply power transition.
The Workplace of the Particular Presidential Envoy for Local weather and U.S. Treasury Division, in cooperation with Japan’s Ministry of Finance, will proceed to actively work with Indonesia and private and non-private companions to assist Indonesia’s improvement of a complete funding plan over the subsequent six months to direct implementation of the partnership over the subsequent 3-5 years.
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