News

U.S. Treasury officials have confirmed that the United States has withdrawn from the Just Energy Transition Partnership (JETP), refusing to provide the financing needed by developing countries for climate transformation.

The Just Energy Transition Partnership (JETP) is a crucial source of funding for Indonesia’s coal phase-out efforts. Despite the U.S. stepping back from its leadership role under President Trump, Germany has confirmed it will take over the responsibility.

Indonesia’s Just Energy Transition Partnership (JETP) has finally attracted its first overseas investment. The startup Xurya has secured a $25 million investment from the Norwegian Climate Investment Fund (NCIF).

Indonesia’s Financial Services Authority (OJK) is optimistic that carbon exchange will continue to grow in 2024. As of Nov 30 in 2023, the trading volume on IDX Carbon reached 494,000 tons of CO2e, with a transaction value of IDR 30.91 billion.

Indonesia Carbon Exchange (IDX Carbon) has outpaced the performance of similar exchanges in Malaysia and Japan since its initiation on September 26.

Indonesia’s Deputy Minister of Finance has said that the green economy will be one of the focuses of government’s policy in the coming years.

Indonesia launched its first carbon emissions trading market to curb the climate impact of its coal-dominated power sector.

Indonesia plans to launch its first carbon trade next week, aiming to provide companies a mechanism to offset their emissions, while offering funding for carbon reduction projects.

Indonesia and the UK signed an implementing arrangement to assist the Southeast Asian country in establishing carbon pricing.

Indonesia projects to initiate its carbon exchange in September, with power generation companies the first to trade on it.