US Committed to Supporting Indonesia's Energy Transition

United States (US) is committed to supporting Indonesia's Just Energy Transition Partnership (JETP).

IDXChannel - United States (US) is committed to supporting Indonesia's Just Energy Transition Partnership (JETP), a landmark, long-term partnership, launched at the G20 under PGII, that will mobilize $20 billion in public and private financing to accelerate Indonesia’s clean-energy transition.

Last week, Secretary of State Antony Blinken met with Indonesia’s Coordinating Minister for Investment and Maritime Affairs, Luhut Binsar Pandjaitan in Washington.

Secretary Blinken and Coordinating Minister Luhut emphasized the importance of the US and Indonesia’s economic relationship,  including continued cooperation in negotiations of the Indo-Pacific Economic Framework for Prosperity (IPEF), support for the US Asia-Pacific Economic Cooperation (APEC) host year in 2023, and scaling new infrastructure investments through the Partnership for Global Infrastructure and Investments (PGII).

Finally, the Secretary and Coordinating Minister discussed the importance of critical minerals to a clean energy future and Indonesia’s efforts to improve the environmental, social, and governance and labor standards in the country’s mining sector.

In Washington, the Indonesian Coordinating Minister also met with USD Secretary of the Treasury Janet Yellen. During the meeting, Secretary Yellen discussed the Indonesia JETP work on the Comprehensive Investment and Policy Plan (CIPP). 

The CIPP will inform how partners allocate the $20 billion in JETP financing towards specific projects and priorities that will support Indonesia’s achievement of the ambitious climate targets the Government of Indonesia set in the November 2022 JETP Joint Statement. 

The Secretary discussed Indonesia’s continued efforts to develop and implement an ambitious strategy for an on-and-off-grid power sector transition that supports Indonesia’s economic development while reducing emissions.  

The Secretary also discussed the Inflation Reduction Act, which sets the United States on a strong pathway to meeting our emissions reductions targets while catalyzing jobs through our largest-ever investment in fighting climate change. (WHY)