Indonesia Just Energy Transition Partnership

The Indonesia Just Energy Transition Partnership is a 20 billion dollar agreement to decarbonise Indonesia's coal-powered economy, launched on 15 November 2022 at the G20 summit.[1][2][3] It comes after the first such agreement, the South Africa JET-IP was announced in 2021 as a partnership with Germany, France, the UK and US.[4][5] The agreement with Indonesia involves all G7 countries as partners, including Canada, Italy and Japan. It also includes Denmark and Norway.[6][7] The JETP aims to develop a comprehensive investment plan (the JETP Investment and Policy Plan) to achieve Indonesia's decarbonisation goals.[8]

Under the JETP, Indonesia aims to reach net-zero emissions of greenhouse gases from electricity production by 2050, bringing forward its target by a decade, and reach a peak in those emissions by 2030. According to two think tanks, the $20bn allocated under the programme are insufficient for these goals.[9]

On the sideline of the same conference, the Asian Development Bank signed an agreement with Cirebon Electric Power to open discussions on accelerated retirement of the Cirebon Steam Power Plant.[10]

References
  1. "Indonesia Just Energy Transition Partnership Launched at G20". GOV.UK. Retrieved 2022-11-15.
  2. antaranews.com. "Indonesia negotiating funding cooperation for energy transition". Antara News. Retrieved 2022-11-14.
  3. "G7 offered Vietnam and Indonesia $15B to drop coal. They said 'maybe'". POLITICO. 2022-10-26. Retrieved 2022-11-14.
  4. "Deutsche G7-Präsidentschaft treibt ambitionierte Just Energy Transition Partnerships voran". Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (in German). Retrieved 2022-11-14.
  5. Lo, Joe (2022-11-07). "As Cop27 kicks off, where are the coal to clean deals at?". Climate Home News. Retrieved 2022-11-14.
  6. "U.S., Japan to offer Indonesia $15 bln in energy transition funds-Bloomberg News". Reuters. 2022-11-11. Retrieved 2022-11-15.
  7. "Press corner". European Commission - European Commission. Retrieved 2022-11-16.
  8. "Indonesia JETP - Accelerating Indonesia's Decarbonisation Timeline". Mayer Brown. Retrieved 2022-11-16.
  9. "How Indonesia, a major fossil-fuel user, plans to decarbonise". The Economist. ISSN 0013-0613. Retrieved 2022-11-17.
  10. "ADB and Indonesia Partners Sign Landmark MOU on Early Retirement Plan for First Coal Power Plant Under Energy Transition Mechanism". Asian Development Bank. 2022-11-14. Retrieved 2023-07-19.
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