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Bisnis.comJAKARTA – President Joko Widodo (Jokowi) encourages developed countries to seriously deliver on their climate finance commitments to help developing countries accelerate the low-carbon economic transition.

Addressing the leaders of G20 countries at the first session of the G20 India Summit held on Saturday (9/9/2023) at Bharat Mandapam, New Delhi, India, Jokowi stressed that the world must make efforts massive and radical efforts to prevent the increase in Earth’s temperature, which is expected to continue to rise over the next five years.

The Head of State declared that accelerating the low-carbon economic transition was one of the efforts that could be made. However, according to Jokowi, so far the implementation of emissions reductions is still very limited.

“Financial commitments from developed countries remain limited to rhetoric and paper, whether financing climate 100 billion US dollars per year as well as financing facilities loss And Shamee”, he said, quoted via Presidential Secretariat YouTube, Saturday (9/9/2023).

Jokowi revealed that to accelerate the reduction of global emissions, developing countries need help in green technology and investments.

For this reason, Jokowi continued, financing to accelerate emissions reduction is considered important. Collaboration between government and the private sector must be continued as it is considered to be a big game-changer in reducing emissions.

“Last year in Bali, Indonesia launched the G20 Bali Global Blended Finance Alliance, the partnership program for a just energy transition (JETP“This needs to be extended and expanded,” the president said.

Meanwhile, during a series of bilateral meetings with a number of heads of state of the International Partners Group (IPG) on the sidelines of the G20 summit in India, Jokowi also called on donor countries to materialize their financial commitment for the energy transition of the Just Energy Transition Partnership (JETP). 20 billion US dollars, or approximately IDR 310 trillion, promised to Indonesia.

Jokowi expressed this during his meeting with French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni respectively.

As is known, the climate pact incorporated into the JETP partnership promised to provide the Indonesian government with pooled funds of $20 billion, or approximately Rp. 310 trillion, from the public and private sectors over the next 3-5 years.

The JETP financing program includes $10 billion from public financing commitments and $10 billion from private financing coordinated by the Glasgow Financial Alliance for Net Zero (GFANZ), which includes Bank of America, Citi, Deutsche Bank, HSBC, Macquarie. , MUFG and Standard Chartered.

Meanwhile, the JETP partnership led by the United States and Japan includes other G7 member countries, namely Canada, England, France, Germany and Italy, as well as Norway and Denmark .

It is expected that the common funds will be used to finance the PLTU early retirement program and the construction of new power plants based on renewable energy in the future.

1.France

Jokowi held a bilateral meeting with French President Emmanuel Macron on Saturday (9/9/2023) local time.

During the meeting, Jokowi encouraged Macron to realize France’s financial commitment to help Indonesia’s energy transition through the JETP program agreed at the G20 summit in Bali in November 2022.

“Regarding the energy transition, I hope that France can also realize its commitment to energy transition projects, particularly through the JETP program,” Jokowi said.

Besides the investment discussion, Jokowi also asked France to support Indonesia’s accession process to the Organization for Economic Co-operation and Development (OECD). The President said it was a step towards Indonesia becoming a developed country.

“We have carried out various economic reforms in line with the requirements for OECD membership,” he said.

2. Italy

Jokowi also asked Italian Prime Minister Giorgia Meloni to immediately deliver on the JETP funding commitment to encourage Indonesia’s energy transition.

Jokowi made the request during a bilateral meeting with Italian Prime Minister Giorgia Meloni on the sidelines of the G20 India Summit in New Delhi, Sunday (9/10/2023), local time.

Jokowi hopes that the financial commitment of the G7 countries for the energy transition can be realized in the near future.

“I hope the commitment will be implemented immediately because supporting the mobilization of finance is an important part of the energy transition,” Jokowi was quoted as saying in a press release, Sunday (10/9/2023).

Furthermore, Jokowi invited Italy to get involved in the development of the electric vehicle ecosystem and green infrastructure in Indonesia.

“I also invite Italy to develop the electric vehicle ecosystem, green infrastructure and development of the Indonesian capital,” he said.

During the meeting which lasted about 20 minutes, he also requested Prime Minister Meloni’s support for Indonesia’s membership in the Organization for Economic Co-operation and Development (OECD).

3. Netherlands

Jokowi also requested support from the Netherlands to contribute to Indonesia’s energy transition efforts. He reported this to Dutch Prime Minister Mark Rutte during a meeting on Saturday (9/9/2023).

“I hope that the Netherlands can support the development of low-carbon technologies and the conversion of PLTU to renewable energy as part of the follow-up to the JETP cooperation and encourage the abolition of the European regulation on deforestation in order to “do not discriminate against Indonesia’s main products”, “Jokowi was quoted as saying in a press release, Sunday (10/9/2023).

Apart from this, Jokowi also welcomed Dutch investments to build a center of excellence in the city of Surakarta and plans to organize a high-level conference in the field of new and renewable energy and climate.

“I welcome the Dutch investment in the construction of the Center of Excellence in Solo and the plan to organize the Renewable Energy and Climate Summit,” he said.

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