South China Morning Post-At the G20 summit in Bali in November, Indonesia and the United States announced a headline-grabbing US$20 billion energy transition deal aimed at helping the Southeast Asian nation curb its carbon emissions and reach its net-zero target a decade faster than planned.
Details of the Just Energy Transition Partnership (JETP) would be announced in six months, it was said at the time.
Six months have passed since the landmark deal and Indonesia, Southeast Asia’s biggest economy, finds itself in a stalemate with its JETP partners. Not only has a comprehensive investment plan not been publicly announced, Jakarta has openly voiced its frustration with its partners’ perceived lack of commitment in disbursing the promised money.
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Andri Prasetiyo, a researcher at Trend Asia, a Jakarta-based non-profit that focuses on the transition to clean energy, said the EXIM cash underlined the “inconsistency” of the Biden administration’s vow to stop backing fossil fuel projects.
“This funding risks disrupting the achievement of the net zero target. One of Indonesia’s net zero targets is reducing the use of fossil energy, not just coal, but also oil and gas, but the US seems to show that the fossil energy industry is still relevant to support,” Andri said.
Photo: via Reuters