Jakarta. Indonesia seeks to achieve a global deal on accelerating energy transition out of its G20 presidency this year, the government announced on Thursday.
Indonesia’s G20 presidency has chosen energy transition as one of its top priorities. The energy transition working group (ETWG) zeroes in on energy access, technology, and funding.
In a speech read by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, President Joko “Jokowi” Widodo said energy transition would require a substantial amount of funding. This will place a heavy burden on developing nations, particularly in the middle of the Covid-19 pandemic.
It is also imperative to ensure a just energy transition by minimizing the negative socio-economic impacts. And so, Indonesia calls for robust global cooperation.
“This calls for robust global cooperation. This is what we will establish in G20 Indonesia. This is what we meant by global deal,” Luhut said, while reading Jokowi’s remarks, at the G20 energy transition launch on Thursday.
Greener industries are also an integral part of the energy transition. In this regard, Indonesia has begun constructing a green industrial park in North Kalimantan.
“Here, we need the role of investment and contributions from the private sector, philanthropy, innovative financing that can affirm the developed nations’ commitment to provide $100 billion a year [in climate finance] for its developing counterparts,” Luhut said, still reading Jokowi's speech.
“I [Jokowi] will ask for a global commitment or a global deal from every G20 leader to jointly agree on concrete steps in accelerating energy transition,” he added.
Indonesia aims to reach net-zero emission by 2060 or sooner.
During last month’s World Economic Forum (WEF) discussion, President Jokowi revealed that Indonesia needed $50 billion to switch to renewable energy. And a further $37 billion for the sectors of forestry, land use, as well as marine carbon.