The United States remains optimistic about the progress of Indonesia’s Just Energy Transition Partnership (JETP), a program aimed at helping the country’s transition away from coal-based energy.
Leonardo Martinez-Dias, Managing Director of Climate Finance at the Office of the US Special Presidential Envoy for Climate, shared his views during a sustainable finance conference in Hong Kong on Wednesday, October 30, 2024, stating that JETP initiatives in both Indonesia and South Africa are ongoing despite implementation challenges.
“It’s harder than it sounds, but the government and private sector can come to an agreement,” Martinez-Dias said on Wednesday, stressing the importance of collaboration between public and private sectors to secure sustainable project financing.
He added that participating countries need to further identify specific projects that fit the JETP’s goals.
Launched at the 26th UN Climate Change Conference (COP26) in Glasgow, Scotland, in 2021, JETP is an initiative by a coalition of wealthy nations, including the U.S., UK, France, Germany, and the European Union.
This US$20 billion (Rp313.8 trillion) funding program aims to support developing countries in moving away from coal while encouraging the use of low-carbon.
