Indonesia Joins Countries Seeking Faster Coal Exit

Indonesia is one of four countries to join a pilot program from the Climate Investment Funds (CIF) worth around US$2.5 billion to transition from coal to clean energy. India, the Philippines, South Africa and Indonesia will be the first beneficiaries of the Accelerating Coal Transition (ACT) investment program. The four countries account for more than 15 percent of coal-related emissions globally. The CIF says the ACT program is its first-ever program to target emerging economies, helping them finance the shift away from coal, a step considered essential to limit the global temperature rise to 1.5 degrees Celsius by 2030.