Washington, Nov. 15, (dpa/GNA) - The US, Germany and other international partners want to support Indonesia in reaching the climate targets developed during the country’s G20 presidency, the White House announced on Tuesday.
Indonesia aims to reduce emissions in the electricity sector to zero by 2050 – bringing this goal forward by 10 years. It also plans to accelerate the use of renewable energy.
Power generation from renewable energy is to account for at least 34% of total power generation by 2030. This is a considerable step forward.
To achieve these goals, an initial $20 billion in public and private funding will be mobilised during a period of three to five years, the White House explained.
This would be a mix of grants, loans or even private investment.
In the next six months, the parties want to jointly develop a concrete plan for investments.
“Our progress together with Indonesia is a strong signal that accelerating climate action goes hand in hand with a just energy transition and economic prosperity,” the White House quoted German Chancellor Olaf Scholz as saying.
The group of leading world economies (G20) has been meeting on the Indonesian island of Bali since Tuesday.
GNA