Jokowi Explains AZEC's Guide to Facing Climate Change

President Joko Widodo (Jokowi) (ANTARA)

JAKARTA - President Joko Widodo (Jokowi) explained a number of things that can be used as a guide for the Asia Zero Emission Community (AZEC) to face climate change in the future, one of which is the recognition of various energy transition pathways.

President Jokowi stated this when conveying his views at the first AZEC Summit which was held at the Japanese PM's Office, Tokyo, Monday, December 18.

"Each country has a unique and different energy transition strategy, because it is prepared according to national conditions. Indonesia itself has the Indonesian Way of Just Energy Transition through the development of EBT (New Renewable Energy) and strengthening decarbonization efforts," said President Jokowi.

President Jokowi said that Indonesia, as the 3rd largest tropical forest country in the world, has done a number of things, starting from reducing emissions by reducing the rate of deforestation and forest degradation, as well as developing the potential of mangroves to absorb carbon.

"I hope that AZEC collaboration can emphasize the importance of inclusive funding decarbonization cooperation to develop various CCS and CCUS projects," said President Jokowi.

The second guideline conveyed by President Jokowi is innovative funding support. The President said that the estimated funding needs for ASEAN's energy transition will reach 29.4 trillion US dollars until 2050.

Therefore, President Jokowi said that sustainable funding scaling up is needed so that the energy transition can encourage economic growth and benefit the people.

On that occasion President Jokowi also said that Indonesia already has various credible innovative financing, such as energy transition mechanisms, sukuk and green bonds, as well as carbon exchanges.

He emphasized that the synergy between government, private sector and banking is key and must be a game changer or significant change in accelerating the energy transition so that the realization of priority projects to support important emission reduction initiatives continues to be encouraged.

"Such as the geothermal power plant in Muara Laboh, waste to energy in Legok Nangka, and peatland management in Central Kalimantan," said President Widodo.

Through these guidelines, President Widodo hopes that AZEC can become a platform with a spirit of collaboration that can take a concrete part in efforts to reduce emissions.