Indonesia can achieve its target of net zero emissions by 2060 with a sustained policy effort on renewables, according to a latest report of International Energy Agency (IEA).
The report mentioned that the country has a viable path to achieve this goal of net zero.
However, it mentioned that Indonesia needs “energy efficiency solutions, solar, wind and electric vehicles, which are already commercially available today and cost-effective, provided that the right policies are put in place.”
The report further stated that there is a need of driving rapid expansion of renewables, especially solar, which calls for immediate and sustained policy push.
It has been reported that the country needs almost triple energy investment by 2030 from today’s level to achieve net zero by 2060. For this, there is a need of additional $8 billion in investment annually by the end of this decade.
IEA Executive Director Fatih Birol commented, “Indonesia has the opportunity to show the world that even for a country that relies heavily on fossil fuel exports, a pathway to net zero emissions is not only feasible but also beneficial.”
He further stated that there are more economic opportunities than the challenges.
