A paradigm shift in finance is needed. International climate finance cooperation must be designed to finance the full range of activities that are necessary for countries to pursue their long term low greenhouse gas emissions development strategies (LT-LEDS). This is necessary to ensure that the nationally defined development vision can be implemented and that alignments between development and climate are pursued. The Just Energy Transition Partnerships of JETPs is an important finance mechanism that can strengthen the global response to climate change in the context of sustainable development and the eradication of poverty.
Just Energy Transition Partnerships
Just Energy Transition Partnerships (JETPs) are a new funding model created to help global south countries transition from fossil energy and toward clean energy, in a way that ensures social justice and development goals remain an important part of each country’s transition. JETP agreements have been signed by South Africa, Vietnam, India, Indonesia, and Senegal.
Drawing lessons from current JETPs as a new approach to finance, we design country-driven approaches that are supported by effective international cooperation on finance. We promote this idea with finance actors, especially development banks.
Our key activities include:
- Building/exploring/strengthening partnerships that can help reach ministries of finance (in donors and recipient countries), as well as key actors of international development finance
- Synthesizing the limitations of the current financial system to address both climate change and development
- Ensuring the continuity of the Senegal JETP deal in the context of the DDP-Senegal project
- Contributing to the development of “A pilot South African Coal Retirement Mechanism (CRM)” to discuss JET-P pertinence and adequacy to support coal phase down
- Participating in all relevant international fora (FICS, G20, follow-ups of the Paris Summit, COP28)