- The G7 countries, co-led by Germany and the US, have launched the Just Energy Transition Partnership (JETP) with large developing economies.
- The JETP aims to help these countries move away from coal in their electricity systems and achieve the Paris climate goals.
- The JETP is modelled after the South Africa JETP launched at COP26 and received financing worth $8.5 billion in the first phase.
- Indonesia has also announced its JETP with the G7 nations co-led by Japan and the US for $20 billion, primarily focused on phasing out coal from the economy.
- Talks on JETP have stalled with India over differences in approaches to coal.
- The US wants to include decommissioning of coal assets as part of the discussion, whereas India is pushing for climate funds for renewable energy, technology transfer, and green jobs.
- India has refused to put coal phase-out on the negotiation table and wants to design its own “transition plan.”
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