INDONESIA’S investment plan to finance its transition to low-carbon energy adds clarity, but may not tap enough concessionary capital to sufficiently draw private capital, Singapore banks told The Business Times.

The investment and policy plan was released on Nov 21 almost a year after the signing of the US$20 billion Just Energy Transition Partnership (JETP) by South-east Asia’s largest economy, a group of developed nations comprising mainly of the Group of Seven countries, and seven private-sector banks that are members of the Glasgow Financial Alliance for Net Zero (GFanz).

The document outlined specific targets in emission reductions, five key investment areas and the total amount of investments required to hit JETP targets.