10-9-2023 (JAKARTA) President Joko Widodo of Indonesia, known as Jokowi, voiced his concerns during the G20 Summit in New Delhi, India, where he criticized developed countries for what he referred to as mere rhetoric regarding climate finance commitments. Jokowi specifically mentioned the pledge of $100 billion per year for climate funding and the establishment of a loss and damage finance facility.
Addressing the assembled G20 leaders, Jokowi stressed the critical importance of accelerating the transition to a low-carbon economy to combat the rising global temperatures expected in the coming years. He remarked that “our earth is sick” and that the challenge of climate change would be challenging to address unless substantial and radical measures are taken.
Jokowi pointed out that efforts to reduce emissions have thus far fallen significantly short of what is required. Developing countries, he argued, require technological assistance and green investments to facilitate global emissions reduction.
“We, developing countries, want to accelerate emission reduction, but we need support for technology transfer and green investment,” Jokowi emphasized.
Furthermore, he highlighted the significance of the emissions reduction fund and called for the continued collaboration between governments and the private sector, as this partnership can lead to significant changes.
“Last year in Bali, Indonesia initiated the G20 Bali Global Blended Finance Alliance; the Just Energy Transition Partnership (JETP) scheme must be expanded and enlarged,” Jokowi added.
To prevent the practice of greenwashing, Jokowi emphasized the need for global standards, such as a taxonomy for categorizing economic and business activities accurately. He also underscored the importance of reforming multilateral development banks (MDBs) to ensure they represent the interests of their member countries effectively.
The Indonesian delegation at the G20 Summit included Coordinating Minister for Economic Affairs Airlangga Hartarto, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister of Foreign Affairs Retno Marsudi, and Minister of Finance Sri Mulyani Indrawati.
