Energy Transition Partnership Indonesia

Project Dates: January 2022 - December 2026

PROJECT OBJECTIVE

The UN's Energy Transition Partnership brings together funders, philanthropies, and governments in Southeast Asia to accelerate a transition to greener economies. The IKEA Foundation is supporting this work in Indonesia due to the nation's significant reliance on fossil fuels. The grant provided amounts to Euro 1.82 million.

PROJECT DESCRIPTION

The Indonesia JETP is a agreement to mobilize USD 20 billion in public and private financing to support a just energy transition in Indonesia. It was signed on 15 November 2022 at the G20 Leaders’ Summit in Bali between the President of Indonesia and the International Partners Group (IPG) led by USA and Japan. The Indonesia JETP targets by 2030 to cap total power sector emissions at 290-million-ton CO2eq, accelerate deployment of renewable energy to contribute at least 34% of all power generation, and to establish a goal to reach Net Zero Emissions in the power sector by 2050.