A Just Energy Transition Partnership (JETP) is a financing cooperation mechanism to help a heavily coal-dependent emerging economy make a just energy transition away from coal.[1]
Countries edit
Indonesia edit
The Indonesia Just Energy Transition Partnership is a 20 billion dollar agreement to decarbonise Indonesia's coal-powered economy, launched on 15 November 2022 at the G20 summit.[2][3][4] This Just Energy Transition Partnership comes after the first such agreement, the South Africa JET-IP was announced in 2021 as a partnership with Germany, France, the UK and US.[5][6] The agreement with Indonesia involves all G7 countries as partners, including Canada, Italy and Japan. It also includes Denmark and Norway.[7][8] The JETP aims to develop a comprehensive investment plan (the JETP Investment and Policy Plan) to achieve Indonesia's decarbonisation goals.[9]
Under the JETP, Indonesia aims to reach net-zero emissions of greenhouse gases from electricity production by 2050, bringing forward its target by a decade, and reach a peak in those emissions by 2030. According to two think tanks, the $20bn allocated under the programme are insufficient for these goals.[10]
On the sideline of the same conference, the Asian Development Bank signed an agreement with Cirebon Electric Power to open discussions on accelerated retirement of the Cirebon Steam Power Plant.[11]Senegal edit
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This was announced in 2023.[12]
South Africa edit
The South Africa Just Energy Transition Investment Plan (JET-IP) is a $8.5bn deal to help South Africa (ZA) decarbonise its economy, struck at COP26 in 2021.[13][14] This Just Energy Transition Partnership is a cooperation between the governments of ZA, France, Germany, the United Kingdom, the United States and the European Union.[15] It aims to help South Africa achieve the goals set out in its nationally determined contribution to the Paris Agreement, and prevent emissions of 1 to 1.5 gigatonnes of greenhouse gas emissions.[16] The South African JETP was a model for a subsequent similar agreement on coal power in Indonesia, known as the Indonesia Just Energy Transition Partnership.
Alongside the main JETP, there are two other international agreements to accelerate the retirement of coal power plants in South Africa. The others are:
- The Eskom Just Energy Transition Project, a $497 million project to support Eskom, South Africa's public utility, to decommission the Komati Power Station. It was funded by the World Bank.[17]
- The Climate Investment Funds Accelerating Coal Transition Investment Plan, which blends billions of dollars from the World Bank, International Finance Corporation and African Development Bank to finance coal power plant decommissioning and repurposing in Mpumalanga, the province where most of South Africa's coal capacity is located, along with replacement of its power capacity.[17]
Vietnam edit
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References edit
- ^ "Just Energy Transition Partnerships: An opportunity to leapfrog from coal to clean energy". International Institute for Sustainable Development. Retrieved 2023-12-16.
- ^ "Indonesia Just Energy Transition Partnership Launched at G20". GOV.UK. Retrieved 2022-11-15.
- ^ antaranews.com. "Indonesia negotiating funding cooperation for energy transition". Antara News. Retrieved 2022-11-14.
- ^ "G7 offered Vietnam and Indonesia $15B to drop coal. They said 'maybe'". POLITICO. 2022-10-26. Retrieved 2022-11-14.
- ^ "Deutsche G7-Präsidentschaft treibt ambitionierte Just Energy Transition Partnerships voran". Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (in German). Retrieved 2022-11-14.
- ^ Lo, Joe (2022-11-07). "As Cop27 kicks off, where are the coal to clean deals at?". Climate Home News. Retrieved 2022-11-14.
- ^ "U.S., Japan to offer Indonesia $15 bln in energy transition funds-Bloomberg News". Reuters. 2022-11-11. Retrieved 2022-11-15.
- ^ "Press corner". European Commission - European Commission. Retrieved 2022-11-16.
- ^ "Indonesia JETP - Accelerating Indonesia's Decarbonisation Timeline". Mayer Brown. Retrieved 2022-11-16.
- ^ "How Indonesia, a major fossil-fuel user, plans to decarbonise". The Economist. ISSN 0013-0613. Retrieved 2022-11-17.
- ^ "ADB and Indonesia Partners Sign Landmark MOU on Early Retirement Plan for First Coal Power Plant Under Energy Transition Mechanism". Asian Development Bank. 2022-11-14. Retrieved 2023-07-19.
- ^ "Launch of a Just Energy Transition Partnership". elysee.fr. 2023-06-22. Retrieved 2023-12-16.
- ^ van Diemen, Ethan (2022-11-12). "DISPATCH FROM COP27: What the world is learning from South Africa's nascent Just Energy Transition Investment Plan". Daily Maverick. Retrieved 2022-11-14.
- ^ Ghazi, Saarah (2022-11-08). "Unpacking South Africa's R1.5trn JET IP unveiled at COP27". Oxford Economics. Retrieved 2022-11-14.
- ^ EC (7 November 2021). "Joint Statement: South Africa Just Energy Transition Investment Plan". European Commission – European Commission. Retrieved 2022-11-14.
- ^ "France, Germany, UK, US and EU launch ground-breaking International Just Energy Transition Partnership with South Africa". European Commission - European Commission. 2 November 2021. Retrieved 2023-07-19.
- ^ a b "Factsheet: Eskom Just Energy Transition Project in South Africa". World Bank. Retrieved 2023-07-19.
- ^ "Political Declaration on establishing the Just Energy Transition Partnership with Viet Nam". European Commission - European Commission. Retrieved 2023-12-16.
- ^ "Energy Transition Partnership - Vietnam". www.energytransitionpartnership.org. Retrieved 2023-12-16.