According to Reuters, the United States has withdrawn from a fair energy conversion partnership (JETP), climate financial mechanisms help developing countries to decrease dependence on coal power.
Fair energy conversion partnership (JETP) is a climate financial mechanism of 10 rich countries that support developing countries from coal power to cleaner energy. This initiative was first announced in 2021, in the United Nations climate negotiations in Glasgow, Scotland.
The close sources of Reuters On March 5, the US withdrew from the Jetp program in many countries, including Indonesia, South Africa and Vietnam.
Joanne Yawitch, head of the Jetp project management department in South Africa, said the US side announced the withdrawal from the project. However, there are still significant financial resources and the group of international partners (IPG) committed to supporting South Africa to carry out the process of energy conversion.
The US State Department has not responded to this content.
The beams filled with coal on the Samarinda River, Kalimantan, Indonesia, December 19, 2022. Image: AP
Since President Donald Trump has returned to his office in January, the Washington administration has reduced foreign aid and supported the development of fossil fuels.
Jetp’s commitment to Indonesia is 21.5 billion USD. Before withdrawing from Jetp, the United States also withdrew from the position of the leader of the international partners (IPG) groups in the country, a rich country of the wealthy country occupied half of the aid package.
Jetp in South Africa pledged to aid US $ 11.6 billion, of which the US alone, if not withdrawing, will contribute more than $ 1 billion to the country.
Vietnam announced the JETP program at the end of 2022, with the international partner (IPG) group committed to supporting the United Kingdom, the European Union, France, Germany, the US, Italy, Canada, Japan, Norway and Denmark. The level of support for Vietnam shifting energy is US $ 15.5 billion from public and private financial resources in 3-5 years.