Jakarta (VNA) – Indonesia needs at least 266billion USD to fund the government's efforts to overcome climatechange until 2030, according to Finance Minister Sri Mulyani Indrawati.
This means that mitigation of spending in ministries meetsonly 21 percent of the funding needed to achieve the 2060 Paris commitment ornet zero emissions, the minister said on August 26.
Meanwhile, the state’s Revenue andExpenditure Budget (APBN) was tagged with a 4.1 percent budget for climate change each year from 2016 to 2020, shesaid.
She added that some localgovernments have begun allocating funds from the Regional Budget (APBD) since2019 to support Indonesia’s efforts to tackle climate change.
She said that Indonesia’s National Budget (APBN) could notmeet its climate change promises and that its funding would require fundingfrom both the domestic and global private sectors.
Therefore, the government continues to develop policies toattract more investment to develop key climate change-determining sectors suchas forestry, energy and transportation, waste, agriculture and industry, andsets CO2 reduction targets.
The minister emphasised that omnibusreforms that have changed the country’s investment climate will have manypositive impacts on Indonesia and will allow it to attract investment andtechnology for sustainable development.
In addition, she explained that various financialinstruments such as tax exemption periods, tax deductions and value-added tax(VAT) facilities related to the Green Project are still provided./.
This means that mitigation of spending in ministries meetsonly 21 percent of the funding needed to achieve the 2060 Paris commitment ornet zero emissions, the minister said on August 26.
Meanwhile, the state’s Revenue andExpenditure Budget (APBN) was tagged with a 4.1 percent budget for climate change each year from 2016 to 2020, shesaid.
She added that some localgovernments have begun allocating funds from the Regional Budget (APBD) since2019 to support Indonesia’s efforts to tackle climate change.
She said that Indonesia’s National Budget (APBN) could notmeet its climate change promises and that its funding would require fundingfrom both the domestic and global private sectors.
Therefore, the government continues to develop policies toattract more investment to develop key climate change-determining sectors suchas forestry, energy and transportation, waste, agriculture and industry, andsets CO2 reduction targets.
The minister emphasised that omnibusreforms that have changed the country’s investment climate will have manypositive impacts on Indonesia and will allow it to attract investment andtechnology for sustainable development.
In addition, she explained that various financialinstruments such as tax exemption periods, tax deductions and value-added tax(VAT) facilities related to the Green Project are still provided./.
VNA
