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2022-11-16 Southeast Asia
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US, partners offer Indonesia $20B to wean itself off fossil fuels
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[BenarNews] The United States and its partners will offer $20 billion to help wean Indonesia, the world’s biggest coal exporter, away from fossil fuels and transition to renewable energy, U.S. President Joe The Big Guy Biden
 ...46th president of the U.S. You're a lyin' dog-faced pony soldier . Of course Corn Pop is a real person....
announced Tuesday on the sidelines of the G20 summit in Bali.
The agreement, which an American official called "the single largest country specific climate investment partnership," will see Indonesia committing to move up its target for net zero emissions by 10 years, to 2050.
Since that is multiple American administrations in the future, no need for Indonesia to worry its pretty little head about delivering until halfway to never instead of three quarters of the way. And in the meantime, look at all that pretty money! ...or am I perhaps being overly cynical? "Indonesia has shown tremendous leadership and ambition throughout the development of this partnership," Biden said in a statement.
"The resulting new and accelerated targets demonstrate how countries can dramatically cut emissions and increase renewable energy while advancing a commitment to creating quality jobs and protecting livelihoods and communities."
The so-called Just Energy Transition Partnership (JETP) deal, led by the U.S. and Japan, was signed by Canada, Denmark, the European Union
...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...
, La Belle France, Germany, Italia, Norway, and the United Kingdom.
Coal, the dirtiest of fossil fuels, powers 65 percent of the energy needs of Indonesia, Southeast Asia’s largest and most populous country.
Indonesia is the world’s eighth most polluting country with 2 percent of global greenhouse-gas emissions to its name, according to the World Resources Institute.
The energy sector accounts for nearly half of the country’s emissions, with automotive emissions making up about one-fifth of its overall emissions, according to the Ministry of Industry.
Under the agreement with the U.S. and its partners, Indonesia will work to reduce greenhouse gas emissions and support affected communities by shifting its projected emissions peak forward by 7 years, to 2030.
Indonesia also agreed to cap power sector emissions at 290 megatons of CO2 in 2030, down from 357 megatons. The Southeast Asian country also agreed to accelerate the deployment of renewable energy so that it comprises at least 34 percent of all electricity generation by the same year.
"If you look at the investment values that are brought together under the terms of this partnership, it is arguably the single largest country specific climate investment partnership," said John Morton, the U.S. Department of Treasury’s first climate counselor.
Morton called the emissions reductions from those targets "significant."
"Just to put those numbers in perspective. Three hundred megatons is the equivalent of taking half the U.S. passenger cars off the road for one year," Morton told a presser in Bali.
"And two gigatons is equivalent to about 15 percent of global power sector emissions in any given year."
Luhut Pandjaitan, the coordinating minister for investment and maritime affairs, said Indonesia had an important role to play in avoiding the worst impact of climate change, as the world’s largest archipelagic nation.
"Indonesia is committed to a low carbon economy, energy transition and we believe that we must not sacrifice our economy, but that we must also build a more sustainable economy for the future generation," he said at a news conference in Bali on Tuesday.
"I promised my oldest granddaughter I will make policy that benefits the next generation. She is the strongest reminder I have," he said. 
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Posted by trailing wife 2022-11-16 00:00||
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Posted by DarthVader 2022-11-16 00:04||
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Posted by Deacon Blues 2022-11-16 07:20||
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Posted by USN, Ret. 2022-11-16 13:46||
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