"We have spoken too often, but there is no real result in the efforts to prevent a 1.5-degree Celcius increase in the Earth's temperature," he stated at the Ecosperity panel discussion held by Temasek Foundation in Singapore, Tuesday.
According to a statement issued here on Tuesday, Pandjaitan was present at the discussion along with Singaporean Sustainability and Environment Minister Grace Fu and Canadian Environment and Climate Change Minister Catherine McKenna.
He noted that Indonesia had prepared a clear roadmap to achieve the net zero emission target without disrupting efforts to boost growth for the prosperity of its people.
The five steps by the government are transitioning from fossil energy to renewable energy, developing electric cars, utilizing orphan wells for CO2 storage, developing electric vehicle batteries, and developing the recycling industry for those batteries.
The minister pointed out that funding remains the main challenge faced by Indonesia in implementing the roadmap.
"Many came to offer, but the interest rate offered is a commercial interest rate," he revealed.
He further noted that as long as funding for developing green projects remained a hindrance, efforts to reduce exhaust emissions would fail to achieve the desired target.
"One of the things we have to do together is create global blended finance. This is because the problem of global warming is a world problem and cannot be resolved by countries individually," he remarked.
Fu and McKenna shared the same view with Pandjaitan regarding the need for joint efforts from the international community to tackle global warming issues.
Fu assessed that blended finance could be a solution to create various projects that could later become pilot projects.
Apart from big projects, she invited the world of business and workers to innovate in their respective companies to contribute to exhaust emission reduction.
She cited as an example the initiative taken by Temasek Foundation through the use of coconut fiber to create air purifiers.
She called to make the most of opportunities within people's reach to reduce energy usage and exhaust emissions.
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Translator: Ade Irma, Raka Adji
Editor: Sri Haryati
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