Indonesia’s net-zero emissions target to drive economic development

By Ayushi Garg  | Date: September 02, 2022

Indonesia’s net-zero emissions target to drive economic development

A new report from the International Energy Agency (IEA) has stated that Indonesia is reportedly on its way to reaching its net-zero emissions target by 2060, offering key benefits to its residents, like more safe and reasonable energy supplies.

The agency’s Energy Sector Roadmap to reach Zero Emissions in Indonesia, a joint project commenced with the Indonesian MEMR (Ministry of Energy & Mineral Resources), was unveiled recently at the G20 Energy Transitions Ministerial Meeting held in Bali under Indonesia’s first G20 Presidency.

According to sources, Indonesia’s Minister of Energy and Mineral Resources, Arifin Tasrif and IEA’s Executive Director Fatih Birol inked a joint high-level declaration that lays out a combined vision of Indonesia’s route to net zero, drawing on the roadmap’s findings.

However, in view of attaining this, key policy reform and international support will be crucial for successfully transitioning into clean energy as it forays into a new phase of economic development.

For the record, Indonesia’s economic development during the past decades has been remarkable, removing millions of people out of poverty and providing electricity to almost all the citizens across 17,000 islands in the country.

It is imperative to note that access to affordable energy supplies from the country’s abundant resources and the revenue from fossil fuel exports have been significant drivers of the success.

The clean energy transition will offer enormous prospects for the development of Indonesia as it intends to become an advanced economy by 2045.

As per the IEA Roadmap, several elements required for reaching zero emissions and advancing the economy are the same, including innovation, technology, knowledge, and economic diversification.

While speaking on the latest development, Fatih Birol stated that Indonesia has the opportunity to demonstrate to the world that a path to net zero emissions is not only achievable but also profitable, especially for a nation that substantially depends on the export of fossil fuels.

It’s vital to be realistic about the difficulties, especially in coal-dependent regions, but the benefits to the economy more than compensate the costs.

Source credit – https://www.iea.org/news/indonesia-s-push-to-reach-net-zero-emissions-can-help-power-a-new-phase-in-its-economic-development

About Author

Ayushi Garg     ibmag.com

Ayushi Garg

Currently working as an associate content writer, Ayushi pens down insightful articles for several websites. She began her profession by taking classes in digital marketing to broaden her skills. Given her passion for writing, she took up several freelancing projects ...

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