Jakarta: Indonesian President Joko Widodo (Jokowi) invited G7 member countries to invest in the clean energy sector in Indonesia on account of the huge potential that exists in the form of Indonesian natural resources.
During the opportunity to speak at the first session of the G7 Summit in Elmau, Germany, June 27, local time, the president noted that Indonesia and several other developing countries faced real risks due to climate change.
"Indonesia's commitment and efforts to climate change and energy transition are very clear," Foreign Minister Retno Marsudi noted in a press statement broadcast on the official YouTube channel of the Presidential Secretariat, Tuesday.
Marsudi said President Jokowi highlighted that Indonesia had the potential to become a major clean energy contributor, from the sea and land.
However, in order to fulfill this potential, Indonesia requires large amounts of investment coupled with technology transfer, the minister stated.
"The president also said that Indonesia needed big investments and low-carbon technology to support transition to fast and effective clean energy," the minister remarked.
Jokowi stated that Indonesia required US$25-30 billion of investment to accelerate energy transition efforts over the next eight years.
It is also believed that the energy transition process could be optimized as a driving force for economic growth, opening up business opportunities and creating new jobs.
"President Jokowi invited G7 countries to contribute in taking advantage of this opportunity, especially investment in the clean energy sector in Indonesia, including the development of an electric car and lithium battery ecosystem," Minister Marsudi stated.
She also said that President Jokowi closed his statement at the forum by seeking support and presence of all G7 countries at the G20 Summit in Bali, later this year.
In addition to attending two sessions of the G7 Summit as partner countries, President Jokowi held at least nine bilateral meetings, including with Indian Prime Minister Narendra Modi, French President Emmanuel Macron, and German Chancellor Olaf Scholz.
Jokowi also conducted bilateral meetings with British Prime Minister Boris Johnson, Canadian Prime Minister Justin Trudeau, Japanese Prime Minister Kishida Fumio, European Commission President Ursula von der Leyen, European Council President Charles Michel, and IMF Managing Director Kristalina Georgieva.