Opinion / #public-private partnership
Much of the international community has been under the illusion that climate action and development are different pursuits. But to make progress on both agendas, the delegates at this year’s United Nations Climate Change Conference must recognise that they are one and the same, and begin building an integrated financing system.
Chinese state-owned banks has shrunk as commercial bank "co-financing" grows. But a meaningful green pivot to lower-income countries, especially for renewable projects, has yet to be seen.
Concerns exist over the Prabowo administration's commitment to Nusantara's development, given its other priorities, unmet investment targets, and uncertainties surrounding coordination, transparency, and long-term vision.
Progress towards Indonesia's renewables target has been slow. Rethinking energy subsidies and carbon pricing can hasten the shift of Southeast Asia's largest economy away from coal.
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