Indonesian Government launches Climate Change Trust Fund
14 September 2009, Indonesia
On 14 September 2009, the Indonesian Minister of National Development Planning and the Minister of Finance launched the Indonesia Climate Change Trust Fund (ICCTF), identifying the energy sector, including renewable energies and energy efficiency, as well as the sustainable management of forest and peat land as main priorities on the mitigation side. Regarding adaptation, the priority will be reducing the vulnerability of agriculture, water and coastal zones will be the adaptation priority.
The Fund was developed with the goal to advance investment towards the country’s low-carbon growth strategy and greater resilience to the negative climate change impacts. It is designed to assist the Government of Indonesia in addressing Indonesia’s emerging and immediate needs with respect to climate change, which are currently being formulated in the 20 Years Indonesian Climate Change Sectoral Roadmap (20-ICCSR).
The ICCTF will not only pool and coordinate grant funding from development partners and other contributors, but also try to catalyze investment and other sources of funds, in order to bridge the gap between financial needs and national budget capacities. Countries that already pledged funds for the ICCTF are the UK, Netherlands, Australia, Norway and Sweden, so that it can begin to pursue its goal of mitigating climate change and increasing Indonesia’s resilience in the face of adverse climate change impacts as quickly as possible.
The detailed design of the ICCTF is contained in the ICCTF Blueprint document, which will shortly be made available on the ICCTF website.