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Indonesia Needs $247 Billion to Achieve Paris Agreement's Target: Finance Minister

English environment
Antara • 11 June 2021 16:38
Jakarta: The 2018 Second Biennial Update Report highlighted that Indonesia requires US$247.2 billion, or Rp3,461 trillion, to realize the target of the Paris Agreement.
"It means we need at least Rp266.2 trillion every year. This amount is even higher than the budget allocated for National Economic Recovery (PEN) in the health sector that reached Rp172 trillion," Finance Minister Sri Mulyani Indrawati stated during a webinar on "Climate Change Challenge" here on Friday.
The budget allotted for climate change reached 4.1 percent, or Rp86.7 trillion, per year of the total State Budget (APBN). Hence, the government is striving to mobilize all parties to partake in upholding the climate change commitment, starting from itself and private sectors to the public by conducting waste management and developing "save energy" habits, including utilizing environmentally friendly goods.

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Indrawati emphasized the government’s serious commitment to slowing climate change by designating 11 regions comprising seven provinces, three districts, and one city in the endeavors to educate their residents on the issues and make them as their priorities.
This year, the government will add six other regions to the regional program of climate budget tagging, she stated.
The government also formed the Indonesian Environmental Estate Fund (BPDLH) in 2019 and SDG Indonesia One, the integrated funding cooperation platforms to raise funds from various sources to fund infrastructure development in line with the sustainable development goals.
The Paris Agreement refers to a global and monumental agreement aimed at tackling climate change. The nations have expressed their commitments through Nationally Determined Contribution (NDC) for the 2020-2030 period.
Indonesia has ratified the commitment by targeting to slash greenhouse emissions by 29 percent by 2030 and by nearly 41 percent with international aid.

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