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Energy

Indonesia wins $20bn in G-7, other support to speed net zero push

Deal for G-20 chair 'arguably largest ever' country-specific climate partnership

Indonesia's coordinating minister for maritime and investment affairs, Luhut Pandjaitan (second from right), and John Morton (second from left), climate counsellor to the U.S. treasury secretary, speak at a news conference in Bali, Indonesia on Nov. 15. (Photo by Erwida Maulia)

BALI, Indonesia/SHARM EL-SHEIKH, Egypt -- Indonesia has obtained at least $20 billion in funding commitments from developed nations led by the United States and Japan to speed up its clean energy transition and move forward its net zero carbon pledge by 10 years.

All members of the Group of Seven advanced economies plus Denmark and Norway, on Tuesday launched the Just Energy Transition Partnership (JETP) specifically for the Southeast Asian country. They intend to mobilize an initial $20 billion in public and private financing over the next three to five years to help it significantly reduce its greenhouse gas emissions.

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