Indonesia Calls for $1 Trillion Investment to Achieve Net Zero Emission by 2060
Admin
Dec 02, 2023
President Joko Widodo (Jokowi) of Indonesia has stated that the country needs approximately $1 trillion in investment to achieve the target of net zero emissions by 2060. Jokowi emphasized the need for collaboration among friendly nations and private entities to reach this goal. Indonesia invites bilateral partners, private investments, philanthropic support, and assistance from friendly countries to collaborate in achieving the target. Jokowi highlighted Indonesia's credible innovative financing platforms, such as carbon markets, energy transition mechanisms, green bonds and sukuk, as well as environmental funds through Result Based Payment. He also urged international development banks to increase low-interest funding capacities for energy transition. Jokowi emphasized that addressing the financing issue is crucial for achieving the Paris Agreement target of limiting the temperature increase to 1.5 degrees Celsius above pre-industrial levels and reaching net zero emissions. In addition, Jokowi mentioned Indonesia's efforts in reducing carbon emissions and deforestation, improving Forest and Other Land Use (FOLU) management, and accelerating the transition to renewable energy sources.
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