The Indonesia Just Energy Transition Partnership , more than a year in the making, "is probably the single largest climate finance transaction or partnership ever", a U.S. Treasury official told reporters.to help South Africa more quickly decarbonise its power sector that was launched at COP26 in Glasgow by the United States, Britain and European Union.
Indonesia also has set a goal to reach net-zero emissions in its power sector by 2050, a full decade before its current target set in its national climate plan, and to double the pace of renewable energy deployment so that it accounts for at least 34% of all power generation by 2030. The plan will eliminate 300 million tons of greenhouse gas emissions through 2030 and a reduction of well over 2 billion tonnes through 2060, the partners said in their statement.
"This partnership will generate valuable lessons for the global community and can be replicated in other countries to help meet our shared climate goals," he added.The United States and Japan are co-leading the effort with Indonesia on behalf of the other G7 democracies Britain, Canada, France, Germany Italy, as well as partners Norway, Denmark and the European Union.
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