Woochong Um, CEO of The Global Energy Alliance for People and Planet (GEAPP), recently spoke with Foreign Policy’s Andrew Sollinger at the FP Energy Forum, sharing a profound perspective on mobilizing capital to support a sustainable, resilient transition to net zero. Reflecting on his transition from development finance at the Asian Development Bank to the Global Energy Alliance, Woochong discussed how essential private capital is to global climate efforts. While multilateral development banks and philanthropies play pivotal roles, private sector funding remains largely concentrated in developed markets, leaving significant investment gaps in developing regions where energy access is most urgently needed. Woochong illustrated the risks: without access to renewable solutions, millions of people—particularly in Africa, where 300-600 million remain without electricity—might turn to fossil fuels, endangering global climate progress. Highlighting efforts to bridge this gap, Woochong described several strategic projects the Alliance is championing. In India, for instance, they’ve navigated complex regulatory challenges to secure approval for energy storage integration, opening up new opportunities for battery storage deployment. Meanwhile, they’re working with the ADB and the Indonesian government to accelerate the early retirement of coal plants, aligning these transitions with long-term sustainability goals. Woochong expressed cautious optimism, noting the private sector’s growing focus on solutions rather than problems. #ClimateAction #EnergyTransition #SustainableDevelopment #PrivateCapital #Mission300 #ClimateWeekNYC #Runh
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Indonesia is currently undergoing a crucial energy transition away from fossil fuels, which will impact various sectors of Indonesian society. To gauge public perception on this matter, CERAH and Markdata conducted a survey involving key stakeholders in three provinces: East Kalimantan, South Sumatra, and West Java. Our survey revealed intriguing insights. One notable finding is the relatively low level of knowledge among the public regarding the early retirement program for coal-fired power plants. Respondents also identified the 'Negative impact on communities and economies that depend on the coal industry' as the biggest disadvantage of this program. However, it's important to note that the energy transition will create numerous new job opportunities. While jobs in the fossil fuel sector may decline, green jobs will flourish once Indonesia successfully transitions to renewable energy sources ???? ?? Read the full report on https://lnkd.in/gVbamquq #YayasanIndonesiaCerah #JustEnergyTransition #RenewableEnergy #StopFossilFuels
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Given its reliance on coal, Indonesia's shift to renewable energy is crucial for tackling climate change. The plan to retire 15% of coal plants by 2030 and reach carbon neutrality by 2060, backed by the $20 billion Just Energy Transition Partnership (JETP), could create 1.12 million jobs but may hurt coal-dependent workers and communities. Fair policies focused on retraining, inclusive decisions, and financial support are needed to balance environmental goals with social equity. Larasati Eka Wardhani explores how Indonesia can navigate these challenges and opportunities. Read More: https://lnkd.in/ehAtEyNi #CornellPolicyReview #CleanEnergy #EnergyTransition #RenewableEnergy #Indonesia #JustEnergyTransistionPartnership #CarbonNeutral #ClimateAction #EnergyPolicy #CornellBrooks #CornellMPA
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Prime Minister Anwar Ibrahim has bold visions for #Malaysia, set out in a slew of policies under the #MADANI Economy Framework, which was launched in July 2023, as well as the National Energy Transition Roadmap (NETR), which aims to reduce greenhouse gas emissions by up to 45% by 2030 and achieve net zero by 2050. Global SWF examines the strategies and investments by Government-Linked Investment Companies (GLICs) - EPF Malaysia, KWAP Malaysia and Khazanah Nasional Berhad - in support of MADANI, with a focus on the energy transition and venture capital: https://lnkd.in/eGzav7TA
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Rosyid Jazuli, one of our PhD candidates, shares a blog piece on his recent work which explores the intricate challenges of achieving a just energy transition in the Global South. Using Indonesia as a case study, Rosyid provides a nuanced analysis of political, social, and regulatory realities that shape energy transitions under the Just Energy Transition Partnership (JETP). Their research highlights the complexities faced by nations like Indonesia, navigating economic growth imperatives, social dynamics, and regulatory hurdles, while addressing historical inequities in global energy systems. Check out the full blog piece here: https://buff.ly/3CA4Aks You can also access the Journal article: A review of Indonesia's JETP through the dynamics of its policy regime, by Muhamad Rosyid Jazuli, Kate Roll, Yacob Mulugetta. https://buff.ly/3V3P2vS #ResearchImpact #PhDLife #Sustainability #ClimateAction
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A new step for Indonesia’s efforts to fill in its climate finance gap. Congratulations to Indonesia Stock Exchange for opening this. A new beginning - although there are potential hurdles ahead. Hopefully this will fulfill Indonesia’s targets of: - Forest conservation - Less dependency on emissions-intensive production - Cleaner energy sources - Attracting international financing initiatives https://lnkd.in/gSbhRDpT
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The recent article on developed countries’ hesitance toward new Just Energy Transition Partnerships (JETPs) underscores a critical moment for Indonesia’s transition from coal to clean energy. As one of the pioneering nations in this initiative, Indonesia’s $20 billion JETP deal aims to accelerate the country’s shift toward renewables and reduce its reliance on coal. However, the reluctance of developed countries to commit additional funding raises questions about the feasibility of scaling up these efforts. For Indonesia, this is a concern, as achieving its ambitious renewable energy targets—while addressing economic and social implications—requires significant financial and technical support. Indonesia’s energy transition faces unique challenges: ?? Coal dependency: As the world’s largest coal exporter, transitioning will impact local economies and jobs. ?? Renewable capacity: Scaling up renewable energy infrastructure remains a logistical and financial hurdle. ?? Global equity: Developed nations’ hesitation to provide adequate support highlights the ongoing disparity in climate finance responsibilities. This moment calls for bold commitments. For JETPs to succeed, developed countries must recognize their responsibility to assist countries like Indonesia in balancing economic growth with climate goals. At the same time, Indonesia must continue to demonstrate leadership by strengthening its renewable energy strategies, ensuring a just transition for communities, and leveraging regional collaboration to attract investment. The stakes are high—not just for Indonesia but for the global climate agenda. #EnergyTransition #ClimateFinance #RenewableEnergy #Indonesia #JETP
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In 2024, our world has changed with big energy being held accountable for its own climate and energy policies. I was astonished to see that back in 2012, PT Adaro Energy, based in Indonesia, decided to install solar power beside its open-cut coal mines to provide itself with electricity. It was clearly ahead of its time. International markets are now dictating that even large Australian-listed companies, as well as global ones, must have and adhere to climate-driven policies. It is ironic to see that Woodside Petroleum’s climate transition policy was rejected by 58% of its shareholders, led by large institutions from California as well as local ones. What is clear is that resources and energy companies, as part of their social license, need more than 87-page documents; they need to deliver bona fide policies and investments that their shareholders believe meet not only their financial but also societal obligations. For Projects RH, our clients are seeing the green opportunity. They too now need to ensure their climate and energy policies meet community expectations and are well documented. It is clear that failure to do this will result in not receiving international funding. ?? Would you invest in a company that did not have clear energy/climate action reporting and a policy showing how they are moving towards or contributing to a climate of net zero? Fortunately, for the team at Projects RH, our clients know that having these policies as part of their business case is a prerequisite for funding. www.projectsrh.com Source: Chanticleer, “Woodside looks inward after climate gambit defeated”, The Australian Financial Review, 26 April, 2024, (See: https://lnkd.in/ekwtyXCC) https://lnkd.in/ekwtyXCC #Projectsrh #PaulRaftery #SustainableEnergy #ClimateAction #CorporateResponsibility #NetZeroGoals
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In this fascinating article for @Foreign Policy, my Chemonics International colleague, Chanaka Wickramasuriya, chief of party of the @USAID Sri Lanka Energy Program, makes the argument for concessional financing for the #EnergyTransition in #developing nations. Using #SriLanka as a case study, Chanaka unpacks the challenges these nations face when it comes to this transition, the biggest of which remains a lack of affordable #capital and domestic #financing capabilities, and proposes ways in which an enabling environment can be created to overcome these obstacles. Read more here: https://ow.ly/V35P50TEva6
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Indonesia plans to secure $25.2 billion in private sector investment for #greenhydrogen development by 2060, aiming to prevent #energy crises and reduce carbon dioxide emissions by 2030-- https://shorturl.at/95bMB #HydrogenNow #H2 #HydrogenEconomy
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Indonesia's economy is closely tied to its natural resources. But even with its connection to fossil fuels, the country's population strongly supports climate goals. How can Indonesian policymakers balance economic development and the energy transition? On this week's episode of #ColumbiaEnergyExchange, host Bill Loveless talks with Mari Elka Pangestu, Former Minister of Trade and Former Minister of Tourism & Creative Economy of Indonesia, and CGEP Distinguished Visiting Fellow, about the efforts to build a clean energy economy in Indonesia. Listen now: https://lnkd.in/e_UPdjxk
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