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Leaders of ASEAN and G20 nations gather this month with climate change, and how to finance tackling it, looming large after one of the hottest summers on record. Illustration by Hiroko Oshima
Asia Insight

Indonesia climate deal in $20bn gridlock as Vietnam, India on hold

'Breakthrough' funded by G7+ investors misses deadline; Hanoi's $15.5bn plan delayed

SAYUMI TAKE and ERWIDA MAULIA, Nikkei staff writers | Indonesia

TOKYO/JAKARTA -- Last November, G20 leaders in Bali hailed what they said was a transformational climate change finance deal to help wean Indonesia off coal. Nine months on, not a single dollar of the $20 billion package has been spent on actively closing down fossil fuel projects.

As the Northern Hemisphere sweats out one of the planet's hottest-ever summers, and G20 leaders prepare to gather again in India this month, the project that was supposed to provide a breakthrough model in paving the way for the developed world to assist emerging countries to reduce carbon while their economies grow remains mired in meetings on operational details.

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