President Joko Widodo, on Thursday (5/9), emphasized the importance of increasing collaboration between developed and developing countries to address the increasingly threatening problem of climate change.
“The problem of climate change will never be resolved as long as the world uses an economic approach, as long as the world only calculates its own profits and as long as the world only cares about its own ego,” said Jokowi in his speech when opening the 2024 Indonesian International Sustainability Forum (ISF) in Jakarta.
According to Jokowi, Indonesia has abundant green energy potential, reaching more than 3,600 GW. The country also has a Floating Solar Power Plant (PLTS) in Cirata which has a capacity of 192 MW peak, the largest in Southeast Asia and the third largest in the world.
The President added that Indonesia also has great potential in carbon absorption, through the world's largest mangrove forest of 3.3 million hectares, which is able to absorb carbon 8-12 times better than tropical rainforests. In addition, Indonesia has a green industrial area of 13,000 hectares.
“But all of that will not have a significant impact on accelerating the handling of climate change impacts, as long as developed countries do not dare to invest, as long as research and technology are not widely opened and as long as funding is not provided in a scheme that lightens developing countries,” Jokowi emphasized.
Indonesia is stepping up various energy transition efforts to achieve the zero emission target by 2060. These efforts include plans for early retirement of coal-fired power plants (PLTU), construction of renewable energy plants and improvement of the electricity transmission network.
According to the Just Energy Transition Partnership (JETP) Comprehensive Policy and Investment Plan document, Indonesia needs more than US$97 billion or equivalent to Rp1,500 trillion between 2023 and 2030 to finance energy acceleration projects.
To finance a number of energy transition projects, the Indonesian Government is actively attracting funding and partnerships with a number of institutions and international partners in various forums, such as IISF.
So far, Indonesia has received a commitment to green transition funding, including through JETP, namely $353 million, of which $29 million came from grant funds.
“Indonesia is very open to partnering with anyone to maximize the potential for a greener world. To provide access to equitable green energy, for inclusive and equitable economic growth,” the President said in closing his speech.
Meanwhile, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, emphasized the importance of Indonesia's role in advancing sustainability in the Region because it has abundant natural resources, including critical minerals, which can accelerate the transition to a greener and cleaner economic path.
“Indonesia is at a critical crossroads in its history, where the need to adopt a green and clean economic path is non-negotiable. However, in our efforts to lift Indonesia out of the middle income bracket, a strategic approach is needed to sustain green growth so that Indonesia can become a developed country by 2045,” the Coordinating Minister added.
The Indonesia International Sustainability Forum, attended by around 8,000 participants from 50 countries, will facilitate the signing of 12 Memorandums of Understanding (MoUs) related to energy transition, one of which is Indonesia's electricity export plan to Singapore from a clean energy project. (ft/rs)
