BBG: Indonesia delays investment plan for $20bn climate deal

© Elnur

BLOOMBERG reports:

Indonesia has pushed back the launch of a much-anticipated investment plan underpinning a landmark $20 billion climate financing deal struck with US President Joe Biden last year.

Efforts to hammer out the specifics of the Just Energy Transition Partnership, or JETP — which is intended to provide affordable financing to clean up the Southeast Asian nation’s coal-dependent power grid — have been hampered by disagreements over the cost of funds, and by legal and policy tangles.

Half of the $20 billion intended to be mobilized was supposed to come from wealthy nations and the other half via large financial institutions like HSBC Holdings Plc and Citigroup Inc., under the Glasgow Financial Alliance for Net Zero…

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