Indonesia's President Urges Developed Nations to Invest in Green Economy

Indonesia's President Joko Widodo has called on developed countries to invest in the nation's energy transition and climate solutions, highlighting Indonesia's vast potential for renewable energy and carbon mitigation.

At the Indonesia International Sustainability Forum in Jakarta, Widodo, commonly known as Jokowi, emphasized the country's considerable renewable energy potential—over 3,600 gigawatts—as well as its 3.3 million hectares (8.2 million acres) of mangroves, which can absorb up to 12 times more carbon dioxide than tropical rainforests.

Jokowi stressed that without significant investment from developed nations, the potential benefits of these resources would be minimal. He criticized the focus on economic calculations and called for broader sharing of research and development, as well as affordable funding schemes for emerging countries.

Despite securing a $20 billion funding pledge under the Just Energy Transition Partnership led by the Group of Seven (G7) countries, Indonesia has seen limited progress in actualizing this financing. Jokowi emphasized Indonesia's commitment to achieving net-zero carbon emissions by 2060 and expressed openness to partnering with various stakeholders to develop green projects, including investments in "green industrial estates."

Senior cabinet minister Luhut Pandjaitan noted that Indonesia has identified approximately 400 projects needing financing to meet its climate goals.

Jokowi's appeal underscores the need for increased international support to address climate challenges and capitalize on Indonesia's substantial environmental assets.