The U.S. White House on Tuesday announced that the U.S., Germany and other international partners plan to support Indonesia in reaching the climate targets developed during the country’s G20 summit.
Indonesia aims to reduce emissions in the electricity sector to zero by 2050, bringing this goal forward by 10 years.
It also plans to accelerate the use of renewable energy.
Power generation from renewable energy is to account for at least 34 per cent of total power generation by 2030.
This is a considerable step forward.
The White House explained that to achieve these goals, an initial $20 billion in public and private funding will be mobilized over three to five years.
It said that this would be a mix of grants, loans or private investment.
It added that in the next six months, the parties want to jointly develop a concrete plan for investments.
The White House quoted German Chancellor Olaf Scholz as saying “our progress together with Indonesia is a strong signal that accelerating climate action goes hand in hand with a just energy transition and economic prosperity’’.
The group of leading world economies (G20) has been meeting on the Indonesian island of Bali since Tuesday.
