But negotiations have been snarled by national politics and Russia’s war in Ukraine, which has made the dirtiest fossil fuel a lucrative commodity to mine and export, according to people familiar with the talks who asked not to be identified because the discussions are private.
Getting a deal done could earn rich countries some goodwill in Egypt after they failed again last year to meet a decade-old target to deliver $100 billion a year in climate finance for poor nations. But developed countries are also adamant that money can only flow if recipient governments come up with detailed economy-wide plans to end the use of coal.
Indonesian ministries contacted by Bloomberg didn’t immediately respond to queries sent ahead of a week-long public holiday. The government last October released a plan to get to net-zero emissions by 2060 which includes retiring all coal-fired power plants by 2055. Meanwhile talks between India and the US and Germany — representing the EU — haven’t progressed significantly, according to people familiar with the discussions. Any commitment could end up being a bilateral arrangement rather than a multilateral one, two of the people said. A coal shortage that’s led to power cuts are a hurdle, one of the people said.
The country has since appointed Daniel Mminele, a former South African central banker, to lead the talks. He said that “work is progressing well” and the focus over the next few weeks will be on “assessing the detail of the funding elements relative to South Africa’s needs and priorities.”
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