Indonesia has launched the Just Energy Transition Partnership (JETP) with international partners to combat climate change. The program will provide US$20 billion over the next three to five years to help phase out coal energy and invest in renewable energy infrastructure. The JETP is a new model for international cooperation on country-specific efforts to combat climate change, combining public and private investments to assist with climate financing for developing countries. In addition to transitioning energy generation away from fossil fuels, the JETP model seeks to promote the green economy and address the economic and social needs of vulnerable communities. Indonesia is the second country to receive a JETP, with Vietnam and India likely to follow. The JETP is expected to create new momentum for Indonesia’s green economy and accelerate the development of its emerging green economy.
