- On Monday, 10 June, a coalition of Civil Society Organizations (CSOs) from South Africa, Indonesia, Vietnam, and Senegal presented the “Principles for a Fair Just Energy Transition Partnership (JETP)” during a virtual press conference launch ahead of the G7 Summit proceedings starting on June 13th.
- These guiding principles for global just transitions highlight the integral need for accountability, transparency, equity, and other principles in climate finance towards addressing the urgent climate crisis, from the perspective of the Global South communities and civil society in line to receive JETP finance.
The JETP deals announced in South Africa, Indonesia, Vietnam, and Senegal underscore the necessity for finance in combating the climate crisis. As discussions around COP29 in November begin to take shape, robust commitments to principled climate finance are deemed essential for the world’s climate response. Despite finally meeting the USD$100 billion annual goal, developed countries are seemingly in favour of placing higher interest rates and restrictive conditions on their investments.This course of climate finance may ultimately hinder effective climate action in developing nations and increase their debt burden. Civil society voices urge G7 leaders and developed nations, as major polluters, to commit to creating a sustainable energy future through just climate finance deals.
Collectively developed by 350africa.org, 350.org Indonesia, Trend Asia, Nu Climate Movement, Enviro Vito, Good Governance Africa, Lumière Synergie Développement (LSD) and Action Solidaire International (ASI), through sharing knowledge and experiences, these Global JETP Principles call for climate justice and affirm the aspirations of CSOs in recipient countries for enduring climate solutions. They aim to serve as an advocacy and capacity-building tool, bringing together civil society and grassroots communities to advocate for fair and ambitious climate finance that is responsive to the realities of developing countries.
JETPs recognize the need for resources to transform energy systems and support developing countries. Expensive access to finance traps these nations in debt, limiting climate investments and necessitating a reevaluation of climate finance delivery. Collaboration among CSOs in the global south is vital to challenge the top-down approach. Principles developed by recipient countries, facilitated by civil society, are essential for accountability and asserting local aspirations in the energy transition.
Source: 350Africa.org
