"U.S. exit from JETP threatens $3 billion green financing for Indonesia, Vietnam", 7 March 2025

The Trump administration, shirking climate responsibility, has once again pulled the U.S. out of international agreements. Treasury officials have confirmed that the United States has withdrawn from the Just Energy Transition Partnership (JETP), refusing to provide the financing needed by developing countries for climate transformation. This decision could severely impact the efforts of South Africa, Indonesia, and Vietnam in phasing out coal.

JETP is seen as a crucial financing mechanism for Southeast Asian countries to achieve their decarbonization goals, facilitating the transition from high-carbon coal-fired power generation to low-carbon renewable energy sources.

According to Reuters, the U.S. had committed a total of $3 billion to Indonesia and Vietnam, while its commitment to South Africa exceeded $1 billion, with most of the funds in the form of commercial loans.

Paul Butarbutar, the head of the JETP Secretariat in Indonesia, noted that the U.S. withdrawal was part of an executive order signed by Trump and is expected to affect energy transition research and the distribution of subsidies. ...