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Wednesday was supposed to be the big unveiling of the plan to get the world’s fourth most populous country off coal and on to clean energy.
But disagreements between Indonesia and the wealthy countries backing it meant that the launch was delayed.
What were they arguing over? You guessed it – money. Specifically, how much of the $20 billion promised should be grants versus loans?
The wealthy countries represented by the US and Japan say 0.8%, while Indonesia says ‘a lot more than that please!’
While negotiations continue, the Indonesian government official in charge told Climate Home News they need to see how much is being put on the plate before committing to specific targets.
The pioneer of energy transition partnerships, South Africa, got 3%, which now looks positively generous in comparison. Is it any wonder India hasn’t followed through on talk about a similar deal?
This week’s news:
Carbon removal hijacked?
While the US plays Scrooge in Jakarta, back in Washington it’s ‘hey big spender’!
The government is giving out up to $1.2 billion for companies to invest in machines that are meant to suck carbon out of the atmosphere.
That’s all good in principle – the clever folks at the IPCC say we’re going to need this technology to compensate for the hardest-to-clean-up sectors.
But a big chunk will go to Occidental, whose CEO admits she sees these machines as a way to prolong their oil pumping business. Notably, this is not one of the hardest to clean up sectors.
With the Saudis lobbying the IPCC to emphasise carbon removal and Japanese coal plant owner Mitsubishi investing in it, is the fossil fuel industry hijacking the concept for its own ends?
