At the G20 Summit in Brazil on November 19, 2024, Indonesia’s President Prabowo Subianto discussed sustainable development and energy transition. He stressed Indonesia’s commitment to fighting poverty, hunger, and climate change, while promoting green energy. Prabowo highlighted Indonesia’s vision for net-zero emissions by 2050, focusing on renewable energy, geothermal resources, and phasing out coal plants. He also emphasized Indonesia’s role in climate mitigation, offering carbon credits, and pledged $30 million to the WHO for global health initiatives. His speech called for global cooperation to tackle shared challenges.
President Prabowo Subianto announced Indonesia’s plan to develop a local nuclear reactor, aiming for 5 gigawatts of nuclear power by 2040. This is part of a broader initiative to add 100 GW of new power, including 75 GW from renewable sources like hydro and solar.
At the G20 Summit in Brazil on November 19, 2024, Indonesia’s President Prabowo Subianto discussed sustainable development and energy transition. He stressed Indonesia’s commitment to fighting poverty, hunger, and climate change, while promoting green energy. Prabowo highlighted Indonesia’s vision for net-zero emissions by 2050, focusing on renewable energy, geothermal resources, and phasing out coal plants. He also emphasized Indonesia’s role in climate mitigation, offering carbon credits, and pledged $30 million to the WHO for global health initiatives. His speech called for global cooperation to tackle shared challenges.
KSPI opposes the government’s plan to raise VAT to 12% by 2025, arguing it will burden low-income workers and hinder economic growth. They demand an 8-10% minimum wage increase and cancellation of the VAT hike, proposing higher taxes on wealthy individuals and corporations.
PT Pertamina is launching Sustainable Aviation Fuel (SAF) made from used cooking oil (UCO), using the HEFA method. The commercial rollout is planned for Q1 2024, with initial testing by Pelita Air. The initiative aims to collect 1.5 million tons of UCO by 2030, reducing emissions by 84%. Regulations to support SAF development are being drafted by Bappenas.
Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.
