In June 2022, a communique of the leaders of G7 said the intergovernmental forum of Canada, France, Germany, Italy, Japan, the UK, and the US is working with India, Indonesia, and Vietnam on more such partnerships.
iFOREST said apart from bilateral partnerships, the transition is primarily being advanced through national policies, laws, and sub-national or provincial plans in the global north.
South Africa’s Presidential Climate Commission commissioner Louise Naude said they are getting money more in the form of loans than grants under JETP. “…we have argued for grants. …these loans should be highly concessional and should be provided in local currency instead of dollars or Euros to avoid disruption.”
Naude said these are bilateral partnerships under which a group of countries is partnering with a country that is strategic to them thereby making energy transition only in some countries.
India depends heavily on coal while the developed nations are dependent on oil and gas. At COP26, India opposed hard targets on phasing out coal, which remains among the key sources of energy for developing nations.
India was among the developing countries that opposed the language on coal and phasing out of fossil fuel subsidies in the Glasgow pact. It pushed to introduce equity and safeguards on fossil fuel subsidies for the poor following which the text in the final pact was reworded.
Experts said India may take a careful call on JETP with G7 because of the push from developed nations to phase out coal first.
Source- Hindustan Times.