The White House on Tuesday announced a $20 billion plan it, along with international partners, will launch with Indonesia to eliminate its dependence on coal-fired electricity and pursue a green economy.
Under the “Partnership for a Just Energy Transition,” the United States and Japan will lead a coalition of 10 international partners to help Indonesia’s energy sector through a “mix of grants, concessional loans, market, guarantees and private investments”.
In a statement released Tuesday at the G-20 summit in Bali, the White House said G7 countries and “like-minded” allies like Denmark and Norway would “pursue an accelerated and ambitious energy transition plan. for Indonesia which “supports a trajectory that keeps within reach a warming limit of 1.5 degrees Celsius above pre-industrial levels.”
BIDEN SAYS WE WILL HANDLE COMPETITION WITH CHINA ‘RESPONSIBLY’, NO NEED FOR NEW COLD WAR
The plan will phase out coal-fired electricity and implement sustainable energy alternatives to develop the renewable energy sector in Indonesia.
China remains the largest emitter of greenhouse gases in the world, while the United States, Japan and some European countries such as Germany occupy the second, fifth and sixth places respectively.
Indonesia is also one of the world’s top emitters, ranking 10th in the world among the countries that produce the most emissions, according to 2019 data.
“Indonesia is committed to using its energy transition to achieve a green economy and drive sustainable development,” Indonesian President Joko Widodo said. “This partnership will generate valuable lessons for the global community and can be replicated in other countries to help achieve our common climate goals through concrete collaborative actions.”
Earlier this year, the Indonesian government pledged to reduce its own emission levels by nearly 32% or 43% with the help of international partners by 2030.
BIDEN MEETS CHINA’S XI JINPING AT G-20 SUMMIT IN INDONESIA, RAISES US CONCERNS ABOUT TAIWAN, HONG KONG, PUTIN
The targeted reductions are more ambitious than projections it had previously committed to under the Paris Agreement, which aimed to cut emissions by 29% or 41% with international assistance, according to Reuters.
Indonesia’s latest aid package would not only transition the country to cleaner energy, but comes with a commitment to make the transition alongside its workers and communities.
The deal will also cap the country’s electricity emissions at 290 megatonnes of CO2 by 2030, down from a baseline of 357 megatonnes of CO2.
CLICK HERE TO GET THE FOX NEWS APP
The country will also set a goal of achieving net-zero emissions by 2050 and commit to having at least 34% of its electricity sector include renewable energy systems by the end of the year. decade.
President Biden defended the plan and said its agreements “demonstrate how countries can significantly reduce emissions and increase renewable energy while advancing a commitment to create good jobs and protect livelihoods and communities.” “.
#Biden #announces #billion #steer #Indonesia #coal