Climate Politics
Indonesia’s $20 Billion Climate Deal With Biden Hits Delay
- Investment blueprint had been expected around mid-August
- Launch of investment plan now expected “later this year”
Indonesia's climate financing deal would fund upgrading its grid to spurring renewable energy investment.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Indonesia has pushed back the launch of a much-anticipated investment plan underpinning a landmark $20 billion climate financing deal struck with US President Joe Biden last year.
Efforts to hammer out the specifics of the Just Energy Transition Partnership, or JETP — which is intended to provide affordable financing to clean up the Southeast Asian nation’s coal-dependent power grid — have been hampered by disagreements over the cost of funds, and by legal and policy tangles.