G20 Parallel Event: High-Level Dialogue on Mobilizing Finance for Indonesia’s Just Energy Transition




Ministry of Energy and Mineral Resources of the Republic of Indonesia in collaboration with the Institute for Essential Services Reform.

Meeting Paris Agreement’s goal requires rapid decarbonization of entire economies and industries. However, the process, scale, and speed of decarbonization vary among countries. In Glasgow, the Indonesian government has agreed to Global Coal to Clean Power statement to rapidly scale up technologies and policies in this decade to achieve a transition away from unabated coal power generation in the 2040s (or as soon as possible thereafter) .

Being one of the world’s largest coal producers and consumers, Indonesia is open to the possibility of adopting a more ambitious net-zero target and a 2040s coal phaseout with international support. Additional support is requested to address the broader socio-economic implications of achieving the 1.5°C-compatible coal-to-clean power transition and ensure the accelerated transition is also carried out in a just and equitable way.

IESR and the University of Maryland (UMD) study found that the coal phase-out could be made as early as 2045. The cost of retirement is estimated to be 4.3 billion USD through 2030 and 28.3 billion USD through 2045. About 2/3 of these cover the retirement of IPP plants, with rests for PLN plants. Significant international support will be required, particularly to jump-start the transition upfront. A similar scale of investment is also required to scale up renewables and transmission to replace the retired coal-fired power plants, estimated at 1.2 trillion USD through 2050.

With various financing mechanisms under discussion, it remains unclear how to evaluate just transition financing needs, what elements should be considered, and how to allocate the financing assistance among different domestic and international stakeholders. IESR and the University of Maryland (2022) identified the magnitude and distribution of the benefits and costs of a rapid, just coal transition in Indonesia to support the 2050 net-zero emissions target.

The high-level dialogue intends to bring various key stakeholders to have a better understanding of the pathway for just the energy transition of Indonesia and identify the financial needs to enable such a rapid transition. This dialogue intends to support the Indonesia Just Energy Transition platform and contribute to the outcome of the Indonesia G20 Presidency agenda.


Melia Bali Hotel

Jl. Nusa Dua, Benoa, Badung Regency, Bali 80363, Indonesia



12.00 – 13.30Registration and Lunch for invited participants (on site)
13.30 – 13.45Welcome remarks
Ir. Yudo Priaadi, MSc., Chair ETWG G20, Expert Staff to the Minister EMR
Fabby Tumiwa, Executive Director IESR
13.45 – 14.00Opening remarks
Ir. Rida Mulyana, MSc., General Secretary of Ministry of Energy and Mineral Resources, Republic of Indonesia
14.00 – 15.30Part 1: The need for coal phase down to meet the NZE goal
1. Indonesia Pathway on Net Zero, Timothy Godson, International Energy Agency
2. PLN’s NZE Pathways, Darmawan Prasodjo, PhD, CEO, PT PLN*
3. Propose Retirement Plan and Financing Needs for Accelerated and Just Coal Phase-Out in Indonesia, Ryna Yiyun Cui, PhD, Assistant Professor CGS, University of Maryland

10 min each
Chair: Dr. Suzanty Sitorus (CWF)

1. How feasible are early coal retirement options for PLN from now until 2030 and before 2050?
2. What are enabling conditions must be in place for PLN to accelerate coal phase down?
3. How much capital and investment are needed to reach NZE for Indonesia's power sector?
15.30 – 16.00Break
16.00 – 17.45Part 2: Financing the Energy Transitions
1. Leveraging Sustainable Finance for Energy Transition, Jessica J Farmer, International Finance Corporation
2. IPP-led coal plants retirement initiative, Lawrence Ang, Climate Smart Ventures, Singapore.
3. Financing Coal Phase-Out: Options and Modalities for Indonesia, Udetanshu, Energy Finance Specialist, Rocky Mountain Institute (RMI)*
4. Supporting a Just Energy Transition in Indonesia: A Philanthropy Perspective, Rui Luo, Bloomberg Philanthropy and ClimateWorks

10 min each
Chair: Dr. Elvi Nasution (Finance Expert)

1. What are the viable financial options for supporting Indonesia energy transition?
2. What is the mechanism to accelerate coal to renewables power transitions? What financial options available for Indonesia and for PLN?
3. What enabling factors to mobilize finance for coal to clean power transitions?
17.45 – 18.00Closing remark and Way Forward
Dr. Dadan Kusdiana, DG New Renewable and Energy Conservation, Minister of Energy and Mineral Resources Republic of Indonesia.

Note: Only selected participants will be invited.


Travel Info

Entry to Indonesia and Travel Requirement regarding COVID-19

We recognize that travel logistics are challenging at this time, and that there are health and safety concerns regarding COVID-19. For ease of access and avoiding additional travel time, we suggest International participants enter through Ngurah Rai, Bali International Airport.

All participants must comply with Indonesian Government health protocols. It is mandatory to wear a face mask in public and many public spaces require proof of vaccination to enter. Fines and other penalties may apply for violations of the restrictions.

All participants (domestic and international) must use PeduliLindungi application. Please download the application through Play Store or App Store



Highly Encouraged Testing: We highly encourage you to take a Covid test prior to travel, to avoid traveling with Covid and to avoid getting stuck in Indonesia while recovering.

Required Testing: To minimise health risk during the event, We will ask you to take an antigen or PCR test prior to attending our event. Test kits will be provided upon entering the meeting site.

Contact Person

Shall you have further inquiries regarding the agenda, accommodation, travel and other related business, please feel free to reach out to the IESR Energy Transition Program Manager Deon Arinaldo at deon@iesr.or.id.

The RSVP ticket sales has ended!


Aug 30 2022


13:00 - 17:30


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