President Joko Widodo says that solving climate change requires a sustainable collaboration between developed (Global North) and developing (Global South) countries.

"We must prioritize humanity so that the process does not sacrifice the interests of small communities because the green economy is not only about environmental protection but also about sustainable welfare to the people," President Joko Widodo told the opening of the Indonesia International Sustainability Forum (IISF) 2024 at JCC Senayan in Jakarta on Thursday, September 5, 2024.

President Director of State energy company PT Pertamina, Nicke Widyawati, said that the energy transition strategy was carried out by Pertamina to support national economic growth and the Indonesian Government's net zero emission (NZE) target.

"Pertamina's transitional energy can support national economic growth while strengthening Indonesia's ability to deal with the energy trilemma," Nicke said while addressing the panel discussion on Advancing Energy Transition in Emerging Economies at the IISF.

In addition to supporting economic growth, Nicke cited, Pertamina's energy transition can boost Gross Domestic Product (GDP) per capita and strengthen the capital index.

She added that Pertamina has allocated around 15 percent of its total Capital Expenditure to support the energy transition and the development of a low-carbon business portfolio. This figure is much higher than the average world energy company.

"Pertamina continues to be committed to supporting the Indonesian government's target of NZE by 2060, or sooner," Nicke said.

Pertamina, Nicke added, continues to maintain national energy security as a top priority in supporting Indonesia's economic growth. Pertamina implements a dual growth strategy, namely maintaining and improving existing businesses to ensure national energy security and at the same time developing low-carbon businesses.

Pertamina continues to develop gas infrastructure as a mainstay energy source in supporting the energy transition. Pertamina also continues to develop geothermal which can be the best option for environmentally friendly energy in Indonesia.

"Pertamina has developed biofuels with the application of carbon capture, utilization, and storage (CCUS) technology, to Nature-Based Solutions (NBS) which are proven to reduce emissions," Nicke said.