Biden, Jokowi Unveil $20 Billion Deal to End Coal in Indonesia
- Largest climate transaction in history, US official says
- Indonesia to reach peak emissions seven years earlier
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US President Joe Biden and Indonesian President Joko Widodo announced a climate finance deal providing $20 billion to help Indonesia pivot away from coal power.
The funding deal, brokered between the US, Indonesia and Japan, is set to be outlined Tuesday on the sidelines of the Group of 20 summit in Bali, following more than a year of talks. It is the largest single climate finance transaction ever, according to a senior US Treasury Department official.