Indonesia sets emission target for G7 funding, lays out investment map

Indonesia aims to cut carbon emissions to 250 million metric tons for its on-grid power sector in 2030 and increase its share of renewable energy generation to 44% under a Just Energy Transition Partnership (JETP), its plan showed on Wednesday.
The partnership, a financing scheme of equity investments, grants and concessionary loans from Group of Seven (G7) members, multilateral banks and private lenders, is aimed at helping developing countries shift to cleaner energy in the power sector.
Indonesia’s comprehensive investment and policy plan (CIPP) for the partnership was made public to lay out a path for the Southeast Asian country to secure $20 billion in funding under the programme.
Indonesia and a group of investors, led by United States and Japan, had initially agreed to peak emissions from the power sector of 290 million tonnes by 2030, and to increase the renewable share of power generation to 34%, but the scope of the off-grid power system was not fully mapped out at the time.