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Just Energy Transition Partnership (JET-P) deal

Santhosh Kumar 01/07/2023
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Just Energy Transition Partnership (JET-P) deal upsc notes Senegal signs JET-P Fourth country Others: South Africa, Indonesia, Vietnam Announced June 22, 2023 Mobilizes 2.5 billion euros Financing period: 3-5 years About JET-P Accelerate phasing out of coal Reduce emissions Sector: Energy Launch: 2021 Announced at 26th UN Climate Change Conference of the Parties (COP 26) Supported by: United Kingdom (UK) United States (US) France Germany European Union (EU) G7 partnership Countries: India, Indonesia, Senegal, Vietnam Funding for developing countries Existing Deals COP 26(2021) South Africa finance: $8.5 billion Aim: To meet Nationally Determined Contribution (NDC) goals COP 27 (2022) South Africa's JETP Implementation Plan (JETP IP) G20 leaders’ summit in Bali Indonesia’s JETP deal Challenges Developed countries' emphasis on coal phase-down Ignores country context Ignores energy transition differences Between industrialized and emerging economies India’s Stand Refuses coal phase-out negotiation Wants its own transition plan JETP talks stalled Differences in coal approaches US push for coal phase-out India's push for climate funds For renewable energy For technology transfer For green jobs

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