Cutting fossil energy use can make Indonesia investment destination


The Indonesian government’s efforts to realize the energy transition and reduce fossil energy utilization can turn the country into a global investment destination, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has said.

“The energy transition to new and renewable energy should not only be an idea. It must be the global mission,” he stated in a post on his personal Instagram account @luhut.pandjaitan on Thursday.

He is currently on a working visit to New York, the United States, along with a number of government and business representatives.

“I hope Indonesia’s commitment and efforts in reducing fossil energy can attract more investors to invest in Indonesia. Previously, Thailand and Vietnam were the investment destinations for global corporations, however, they say that currently, Indonesia is becoming more popular (as an investment target),” Pandjaitan said.

In the post, the minister also said that he welcomed the Bloomberg New Energy Finance (BNEF) Summit, which will be held for the first time in Southeast Asia in Bali in November 2022.

Besides hosting the BNEF Summit, Indonesia will also organize the 2022 G20 Summit, which also has new and renewable energy among the main topics of discussion, he noted.

“They (the investors) seem very interested in Indonesia’s efforts to achieve net-zero emissions,” he said.

During his meeting with the CEO of Bloomberg LP, Michael Bloomberg, Pandjaitan described Indonesia as a country with the largest economy in Southeast Asia, which has great potential for investment in the clean energy sector.

Meanwhile, a representative from Google said that the energy transition mechanism in Indonesia is more advanced than in developed countries.

“The cold weather in New York does not quiver our enthusiasm to invite all delegates, both the private and public sectors, to provide concrete suggestions, input, and support on energy transition, thus we can achieve global recovery from the pandemic together,” Pandjaitan remarked.

Source: Antara News