Cooperation is needed, be it in terms of financing, technology, and expertise, in order to realize a fair and affordable transition for allJakarta (ANTARA) - Finance Minister Sri Mulyani reiterated the importance of global cooperation in the efforts to face climate change, as she believes that a country cannot work alone.
"Cooperation is needed, be it in terms of financing, technology, and expertise, in order to realize a fair and affordable transition for all," the minister remarked at the 2023 Paris Summit held on June 21-23, as quoted from the official statement received here on Monday.
The minister noted that several developing countries were facing financial constraints in their efforts to overcome the effects of climate change.
Bearing that in mind, Mulyani emphasized the importance of support from the global financial system, including multilateral development banks, in the efforts to address financing gaps experienced by developing countries, in particular.
Furthermore, the minister urged developed countries to take concrete steps to help finance climate change-related actions, including by fulfilling their commitment to provide the budget of US$100 billion per year.
Mulyani then drew attention to more dangerous climate change effects that can cause disastrous losses, both to the environment and humans.
In order to anticipate such dangers, Minister Mulyani highlighted several measures that can be taken, including increasing the capacity of multilateral development banks and financial agencies by prioritizing grant facilities and other concessional financing schemes.
The minister attended the summit on behalf of President Joko Widodo in response to the invitation of President of France Emmanuel Macron.
The climate summit was organized, with the objective of providing a forum for discussion and strengthening multilateral cooperation in finding solutions to issues related to global financing as an effort to achieve the common targets encapsulated in the Sustainable Development Goals (SDGs).
On the sidelines of the summit, the minister also attended a series of bilateral meetings in London and Paris to exchange insights on global economic recovery, energy transition, the financing of climate change and carbon market, as well as Indonesia's ASEAN Chairmanship this year.
Minister Mulyani met several important figures, including the finance ministers of the United Kingdom, France, the United States, and India as well as representatives of the World Bank, the Organization for Economic Co-operation and Development (OECD), and the Climate Policy Initiative.
The minister also made the most of the bilateral meetings to seek support for Indonesia's priority agendas, such as in the energy and financial sectors, including cooperation at the G20 forum and strategic multilateral financial institutions.
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Translator: Agatha Olivia, Tegar Nurfitra
Editor: Sri Haryati
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