Rich nations pledge $20bn to wean Indonesia off coal use
NUSA DUA, INDONESIA: Rich nations pledged on Tuesday to raise at least $20 billion to help wean Indonesia off coal and reach carbon neutrality by 2050, a decade earlier than planned, the White House said.
The US, Japan, Canada and six European countries signed the accord with Jakarta on the sidelines of the G20 summit in Bali to ensure a “just power sector transition” away from Indonesia’s coal-dependent economy, they said in a statement released by the White House.
Under the deal, Indonesia, home to the world’s third-largest rainforest, pledges to be carbonneutral by 2050, 10 years earlier than previously planned, and to almost double its renewable energy generation by 2030.
Indonesian President Joko Widodo hailed the deal as a model that could be replicated in other countries to meet the world’s climate goals. “Indonesia is committed to using our energy transition to achieve a green economy and drive sustainable development,” he said. “We are grateful for the cooperation and the support from our international partners to realise its full implementation that will accelerate this transition.”