Adopting low-emission technologies lags in most developing countries, particularly least developed ones, resulting from limited finance, technology transfer, and skills.[1] The Just Energy Transition Partnership (JETP) provides innovative lessons in designing and executing financing for the region's energy transition. The first JETP was announced at the 26th UN Climate Change Conference of the Parties (COP 26) in Glasgow for South Africa for $8.5 billion. In late 2022, Indonesia and Viet Nam announced JETPs for, respectively, $20 billion and $15.5 billion.
This session will explore opportunities for countries globally to learn from Indonesia, South Africa, and Viet Nam’s experiences in developing and implementing comprehensive multi-stakeholder financing plans for their energy transition. It will also allow Indonesia, South Africa, and Viet Nam stakeholders to share lessons learned. The session will focus on financing the three JETP programs, their challenges, opportunities, and potential for replication at the regional and global scale.
Session themes:
- How can the regulatory and legal environment be streamlined to support the structuring of financial instruments? Including the implementation of the JETPs through governance structures in each of the jurisdictions at stake?
- How can we accelerate the managed phase out of coal, ensuring a just transition that includes appropriate compensation and alternative clean energy opportunities for key stakeholders involved?
- How can we best involve the private sector in co-creating financing solutions with JETP investors?
- How can stakeholders mobilize concessional finance at the scale needed for this just transition?
- How can local investors be encouraged to invest in the energy transition in local currency at scale and pace?
[1] https://www.ipcc.ch/report/ar6/syr/
Speaker(s)
