Wednesday
September 7
2022

International Energy Agency Says Indonesia Needs to Invest $8 Billion per Year on Energy Transition

To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.

Mobilising that additional financing will hinge on policy reforms and international financial support, noted the IEA in its report.

Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its citizens in the process, such as more secure and affordable energy supplies, according to the new IEA report released 2 September. But key policy reforms and international support will be crucial to the success of the clean energy transition in the world’s fourth most populous country as it enters a new phase of its economic development.

Photo courtesy of jplenio.

Source: Energy Voice (link opens in a new window)

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Energy
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clean energy, economic development, finance, investing, renewable energy