Rich nations led by the US and Japan have pledged to give Indonesia a $20 billion package to help the coal-dependent country shift to renewable energy and reach carbon neutrality by 2050.
The deal put forward by the Just Energy Transition Partnership (JETP), which includes the US, Japan, Canada, the UK, and several European countries in the EU and Norway, has been more than a year in the making.
Launched at the sidelines of the G20 summit in Indonesia, which is being held in parallel to the COP27 UN Climate Summit in Egypt, the package includes $10 billion in public funding and a further $10 billion from the private sector, The White House said on Tuesday.
“Today, G20 leaders highlighted the importance of investing together and investing stronger to fill the enormous need for better infrastructure in low- and middle-income countries around the world, and we welcome all who share this vision to join our efforts,” US President Joe Biden said in the statement.
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