Group of 20 President Indonesia has called for a global solution to pave the way for the transition to green energy, with the private sector expected to play a key role in decarbonizing the economy, as more countries have pledged to reduce their carbon emissions.

Speaking during a Business 20 (B20) forum, President Joko “Jokowi” Widodo said a sustainable transition to a green economy was a “big responsibility” and presented a “significant opportunity” for businesses to take part in accelerating the transition.

“We hope for the B20’s contribution to accelerate a smooth energy transformation without having a negative impact on poor people. The global solution in terms of funding and partnership should be our main agenda, including technological transfer to boost green economy-based production,” Jokowi said during the B20 inception meeting last week.

The B20 is the official dialogue forum between global businesses and the G20 member countries. Established in 2010, it aims to deliver policy recommendations on selected priorities set by the rotating G20 president to spur economic growth and development.

Read also: Indonesia launches G20 forum on recovery, innovation

A sustainable transition toward green energy is one of three key focuses for Indonesia’s G20 presidency, along with inclusive healthcare and digital-based transformation.

Jokowi said Indonesia’s energy transition from fossil fuels to renewables was designed to safeguard “investment certainty”, adding that the government had pushed for early retirements of coal-fired power plants to be replaced with geothermal plants and solar panels.

Popular

RI, Australia strengthen partnership on taxing crypto assets

Analysis: Indonesia denies normalization with Israel to enter OECD

Citroen to produce electric cars in Indonesia