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Yellen, Luhut discussed potential to speed transition away from coal: Treasury
Yellen and Luhut also spoke about the potential for a Just Energy Transition Partnership that would bring together funding from donor countries, multilateral development banks, philanthropic groups, and the private sector to speed the decommission of coal-fired power plants, it said.
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Secretary of Treasury Janet Yellen testifies during a US House Committee on Financial Services hearing on Capitol Hill in Washington, DC, April 6, 2022. (AFP/Saul Loeb)
US Treasury Secretary Janet Yellen met on Tuesday with Coordinating Maritime Affairs and Investment Luhut Binsar Pandjaitan, and discussed the potential for accelerated transition away from coal in Indonesia’s power sector, Treasury said in a statement.
Yellen and Luhut also spoke about the potential for a Just Energy Transition Partnership that would bring together funding from donor countries, multilateral development banks, philanthropic groups, and the private sector to speed the decommission of coal-fired power plants, it said.
Indonesia is using its stint as G20 president to push for more international funding for the green energy transition in developing nations, although analysts say Jakarta needs to back up its calls with more ambitious plans to cut emissions at home.
The world's top exporter of thermal coal and its eighth-biggest carbon emitter, Indonesia has made a sustainable energy transition one of three focuses for its maiden, year-long presidency of the G20 group of the world's 20 largest economies.
The government of President Joko "Jokowi" Widodo plans to phase out coal for electricity by 2056 and has brought forward its net-zero emissions target from 2070 to 2060 or sooner - but weaning itself off the dirty, climate-heating fuel remains a challenge.
