Indonesia keeps commitment on energy transition

The US withdrawal from the Just Energy Transition Partnership (JETP) will not reduce the nine other countries' commitment to support Indonesia to achieve the net-zero target date by 2060.

Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on March 24 affirmed that the US decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.

The JETP, a financing commitment from developed countries and global lenders to help developing nations adopt cleaner energy, has earmarked 20 billion USD to help Indonesia cut its emissions.

Earlier this month, the US said it had withdrawn from its JETP deals with three countries, including Indonesia. Previously, the US commitment in Indonesia was over 2 billion USD, made up of non-concessional loans, multilateral development bank (MDB) guarantees, and grants.

2018-01-04-38388-1515057536-large.jpg
Solar panel in the city. (Shutterstock/File)

Airlangga said that the US exit will not reduce the commitment of the nine other countries to support Indonesia to achieve the net-zero target date in 2060 or earlier.

He said the JETP financing commitments are now co-led by Japan and Germany.

Under the JETP framework, Indonesia is aiming to cut annual carbon emissions by more than 50 million tonnes to 250 million tonnes of carbon dioxide equivalent from its on-grid power sector by 2030. It also plans to increase the share of renewable energy in its power mix to 44% by 2030, from around 12% in 2022.

So far, the JETP has made funding commitments worth 1.1 billion USD across 54 projects, including the expansion of the Muara Laboh geothermal plant, the minister said, adding that Indonesia will find other modes of funding.

Indonesia is the world's top thermal coal exporter. It currently sources 60% of its energy from coal, the most carbon-intensive fossil fuel./.

World

Indonesia seeks new markets for palm oil
World

Indonesia seeks new markets for palm oil

Indonesia is the world's biggest producer of the edible oil used in making foods such as cakes, chocolate, and margarine as well as cosmetics, soap and shampoo, accounting for more than half of the global supply.

Thailand optimistic about tourism and spending during Songkran festival
World

Thailand optimistic about tourism and spending during Songkran festival

Deputy government spokesman Anukul Prueksanusak has cited findings from a recent consumer behaviour survey conducted by the University of the Thai Chamber of Commerce, which said spending during Songkran is projected to increase by 4.5% to 134 billion THB (3.8 billion USD), up from last year’s 129 billion THB

Thailand to negotiate with US on tariffs
World

Thailand to negotiate with US on tariffs

Thailand is on the list of 15 countries that could be affected by Trump’s tariff policy. The average US tariff on Thai imports is 2% while Thailand levies an average tariff of 8% on US products

Thailand revises tourism strategy after earthquake
World

Thailand revises tourism strategy after earthquake

Minister of Tourism and Sports Sorawong Thienthong said that a tourism risk and crisis management team will be established to support the industry, with representatives from organisations in the tourism supply chain, such as the Ministry of Home Affairs and the Roads Authority.

Belgian monarchs' state visit to open new chapter in bilateral cooperation
World

Belgian monarchs' state visit to open new chapter in bilateral cooperation

As a major player in the region and one of the most dynamic economies in Asia, Vietnam is an indispensable partner for Belgium. The meetings with the various Vietnamese authorities will therefore offer an excellent opportunity to further deepen and enrich this diverse partnership, according the Belgian Federal Public Service of Foreign Affairs, Foreign Trade and Development Cooperation.

Indonesia rolls out people's schools initiative
World

Indonesia rolls out people's schools initiative

Indonesia's Ministry of Social Affairs has identified over 200 potential sites for the establishment of people’s schools (Sekolah Rakyat), a programme designed to provide free, quality education to children from economically disadvantaged families.