Developed countries must aid energy transition in developing nations:

Developed countries must aid energy transition in developing nations:

Indonesian President Joko Widodo joined the 2022 Annual Meeting of Finance Services Industry virtually from Bogor Presidential Palace, West Java, on Thursday (January 20, 2022). (ANTARA/HO-Press Bureau of Presidential Secretariat/Muchlis Jr/aa/uyu)

No government can work alone.
Jakarta (ANTARA) - Indonesia and other developing countries have asked developed countries to fund their transition to environmentally friendly energy and transfer the required technology.

President Joko Widodo (Jokowi) made the statement while making a presentation at the World Economic Forum, which he joined virtually from Bogor Presidential Palace, West Java province, on Thursday.

"Available funding sources and technology transfer will be game-changers in the eco-friendly energy transition. Thus, innovative funding schemes must be developed," he said.

Indonesia is committed to starting the transition, he added. However, it requires enormous funding and access to green technologies, he pointed out.

Indonesia needs US$50 billion to realize the transformation as well as US$37 billion to manage land use in the forestry sector and marine carbon, the President noted.

"Developing countries, such as Indonesia, must be supported by technology and investment for realizing their transition attempts; thus, (this will ensure) the attempts do not burden the community, industrial players, and state's finances too much," he explained.
 

Related news: President to call for energy transition funding at G20

ence, technology and funding are key for developing countries to promote an environmentally friendly energy transition, he stressed.

This will require strong cooperation among developed and developing countries, he said.

“No government can work alone. Governments need to work together internally, nationally, and globally along with state-owned energy companies and the private sector to realize a fair and affordable energy transition," he added.

Earlier, President Widodo highlighted that the environmentally friendly energy transition is one of the priorities of Indonesia’s 2022 G20 Presidency, in addition to restructuring the global health architecture and optimizing digital technology for economic transformation.Moreover, Indonesia has affirmed its commitment to implementing the transition at the Conference of Parties (COP) 26 World Leaders Summit in Glasgow, Scotland in November 2021 to achieve carbon neutrality by 2050, he added.
Related news: Indonesia, Japan ink Memorandum of Cooperation on energy transition

 



Comments