Indonesia to Join G7's New Climate Association to Secure Climate Fund

By Editorial Team 18/04/2023
Climate funds
Summary

Indonesia will join the 'new climate' association formed by the Group of Seven or G7 countries. The announcement was made by German Chancellor Olaf Scholz during his opening speech at the Hannover Messe 2023 trade fair, which was also attended by President Joko "Jokowi" Widodo.

The association, which was crafted by Scholz last year, aims to coordinate global regulations related to climate change and prevent disputes over trade and green energy tariffs.

Quoting Bloomberg, Scholz has been actively seeking support for Germany's ambitious climate change projects. He hopes to encourage the construction of renewable energy plants while phasing out nuclear power plants.

In addition, the project aims to reduce energy dependence on Russian natural gas. Scholz also highlighted the need for European leaders to accelerate dialog with Indonesia, India, and Mexico regarding trade. He also aims to encourage other countries to prioritize the climate agenda while creating opportunities for European companies to profit from the energy transformation.

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