Indonesia's Green Energy Ambitions Hindered by Lack of Climate Finance

📆 9/15/2024 10:03 AM
📰 OilandEnergy

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Indonesia News

Coal,Climate Change,Climate Finance

Indonesia's transition from coal to clean energy is crucial for global climate goals, but a lack of financial support from wealthy nations hinders progress.

Indonesia is the world’s biggest producer of coal, and the world’s 5th largest consumer of the dirtiest fossil fuel. Since 2001, according to figures from the International Energy Agency IEA, coal production in Indonesia has climbed by 558%, domestic coal consumption has risen 494%, and coal exports have skyrocketed by a whopping 608%.

In practice, climate finance has been characterized by years of delays and broken promises. Back in 2009, at the COP15 United Nations climate summit in Copenhagen, rich nations made a promise to send US$100 billion per year to less wealthy nations by 2020 as part of the global imperative to lower greenhouse gas emissions. They never made good on that promise. Today, Indonesia is plagued with a continued failures of the climate finance system.

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