Indonesia outlines energy transition initiatives

- Indonesia revealed concrete steps it will take to achieve a fair and affordable energy transition at the 2022 World Economic Forum Annual Meeting (WEFAM) in Davos, Switzerland.

In his statement in Davos on May 25, Coordinating Minister for Economic Affairs Airlangga Hartarto said Indonesia is committed to gradually reducing fossil fuel utilisation for the sake of climate security in the future, noting that this commitment is being realised through various concrete and innovative steps.

Indonesia has also joined the initiative to phase out coal, he added.

This generation's important task is to pass down a planet worth living to the next generation, and to achieve this, a transformation of people's lifestyles is needed, especially in the energy sector, which accounts for 72 percent of total global emissions, he remarked.

Hartarto held that to handle this dilemma, it is necessary to create better and more eco-friendly jobs as well as invest in workers' training and reskilling. Only then this energy transition can be called fair.

A fair and affordable energy transition to the green economy can generate up to 26 trillion USD in net benefits and 65 million high-value jobs by 2030. However, large funds are needed to reach that stage.

In response to this, the minister underlined the importance of developed countries fulfilling their commitment to providing funding to support global energy transition every year./.

VNA