The US, Japan and other countries will offer a climate finance deal worth as much as USD20bn to help Indonesia shift its coal-dominated power grid away from the polluting fossil fuel. The deal would enable Indonesia to accelerate efforts to shutter excess fossil fuel generation capacity, and to limit its pipeline of coal power projects, factors that are currently thwarting the development of renewable energy. Southeast Asia’s largest economy will need about USD600bn to phase out coal generation, add a similar amount of renewable capacity and make other changes like developing an electric vehicle sector over the next three decades.

Source: ESG News