COP27: Indonesia Will Get Public and Private Financing to Shift from Coal to Clean Energy
SHARM EL-SHEIKH, EGYPT— A coalition of countries announced today that they will mobilize $20 billion of public and private finance to help Indonesia, the world’s 5th largest greenhouse gas emitter, shut down coal power plants and ramp up investment in renewable energy.
The following is a statement from Jake Schmidt, senior strategic director for international climate in the International program at NRDC (Natural Resources Defense Council):
“This is a significant new step that will help Indonesia shift rapidly away from coal-fired energy to renewable power, and begin to align Indonesia's electricity sector with the global goal to limit warming to 1.5C. Going forward, Indonesia should consult broadly with leading climate and energy advocates and experts, and other key players to develop a robust implementation plan that is durable, effective, and delivers results.
“Furthermore, developed countries entering into this partnership must ensure that investments to help Indonesia make this needed transition to clean energy are equitable.”
NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world's natural resources, public health, and the environment. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.