(The Guardian) Indonesia to get $20 billion of finance to help shut coal power
Some good news from Cop27: A coalition of countries will mobilise $20 billion (around £17bn) of public and private finance to help Indonesia shut coal power plants and bring forward the sector’s peak emissions date by seven years to 2030, the United States, Japan and partners have announced.
Indonesia is the world’s 5th largest greenhouse gas emitter.
The Indonesia Just Energy Transition Partnership (JETP), more than a year in the making, “is probably the single largest climate finance transaction or partnership ever”, a US Treasury official told reporters.
Jake Schmidt, from the US non-profit NRDC (Natural Resources Defense Council), said: This is a significant new step that will help Indonesia shift rapidly away from coal-fired energy to renewable power, and begin to align Indonesia’s electricity sector with the global goal to limit warming to 1.5C.
Some good news from Cop27: A coalition of countries will mobilise $20 billion (around £17bn) of public and private finance to help Indonesia shut coal power plants and bring forward the sector’s peak emissions date by seven years to 2030, the United States, Japan and partners have announced.
Indonesia is the world’s 5th largest greenhouse gas emitter.
The Indonesia Just Energy Transition Partnership (JETP), more than a year in the making, “is probably the single largest climate finance transaction or partnership ever”, a US Treasury official told reporters.
Jake Schmidt, from the US non-profit NRDC (Natural Resources Defense Council), said: This is a significant new step that will help Indonesia shift rapidly away from coal-fired energy to renewable power, and begin to align Indonesia’s electricity sector with the global goal to limit warming to 1.5C.
