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Modern Diplomacy
Published 5 days ago
Authors: Felicia Grace and Filda Citra Yusgiantoro
With the signing of the Paris Agreement in 2016, Indonesia is committed to reducing its 29% carbon emission by 2050. The other duty is to meet its ambitious target of 23% new renewable energy by 2025. However, the most significant contributor to carbon emission in Indonesia is the energy sector. Hence, the development of green energy will play a crucial role in mitigating climate change and fulfilling the national energy mix target.
To meet those targets, a massive amount of funding and investment is needed. It is estimated that the funding needs for mitigation and adaptation of climate change activities is USD247 billion. Climate change funding in Indonesia is mainly dominated by domestic financing from the government budget. But the budget itself, of course, is not limited to green energy development alone. Another statement explains that green energy development is lacking ....

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