The Indonesian government will present its financing mechanism to attract funding pledges for its own efforts to stave off the impact of global warming. (AFP Photo/Mark Ralston)

Indonesia to Introduce Climate Finance Mechanism at Paris Summit

BY :BASTEN GOKKON

NOVEMBER 26, 2015

Jakarta. Indonesia will use the climate change summit in Paris next month to introduce a blueprint for financing as it seeks international funds for its mitigation and adaptation efforts.

“What we will have ready at the Paris summit are only the fundamentals of our climate change finance mechanism, not the details yet,” Sarwono Kusumaatmadja, chairman of Indonesia’s Steering Committee on Climate Change, told reporters in Jakarta on Thursday.

Sarwono noted that numerous stakeholders – countries, companies and nongovernmental institutions – attending the 21st Conference of Parties organized by the United Nations Framework Convention on Climate Change had pledged nearly $200 billion for global climate change funds.

The government will present its financing mechanism to attract funding pledges for its own efforts to stave off the impact of global warming, Sarwono said.

He added the government wanted to use funds from the pledges in equal measures for climate change adaptation and mitigation, saying Indonesia’s geography allowed for the implementation for both strategies.

“We can't just focus heavily on one effort only, because we need both to work out well together,” he said.

To manage the funds, Sarwono said the government would appoint a state body to work together with relevant ministries in executing nationwide climate change-related projects.

Erwin Widodo, the executive director of the Indonesia Climate Change Trust Fund (ICCTF), said separately that his agency had been asked to draw up climate financing programs for the country.

“We will have to complete the programs by the end of the Paris summit,” he said on Thursday.

Earlier this month, Environment and Forestry Minister Siti Nurbaya Bakar said her office was considering expanding and strengthening the ICCTF, which falls under the purview of the National Development Planning Agency (Bappenas), into the so-called ICCTF+, for climate funding purposes, Antara reported.

Siti did not elaborate on her plans.

Sarwono, meanwhile, said the government would also establish a monitoring board to evaluate the upcoming appointed agency for climate change funds.

“Essentially our climate change finance mechanism will be acceptable and in line with the UNFCCC’s guidelines,” he said.

President Joko Widodo is scheduled to leave for Paris on Monday to attend to highly anticipated global summit, at which he will lay out Indonesia’s ambitious target to reduce carbon emissions by 29 percent by 2030 from business-as-usual levels, as described in the country’s Intended Nationally Determined Contributions.

The summit is expected to result in an international and legally binding agreement of efforts to keep global warming below 2 degrees Celsius, which scientists believe to be the tipping point for catastrophic climate change.

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