News November 16, 2022

Deutsche Bank supports Indonesia Just Energy Transition Partnership

Working closely with the Indonesian Government and other international partners towards the mobilisation and facilitation of at least 10 billion US dollars in private finance support

Deutsche Bank is once again supporting an emerging economy’s sustainability goals by helping Indonesia transition away from using coal as its main energy source.

The bank will support this ambitious transition path and investment plan as part of a six-bank working group created by the Glasgow Financial Alliance for Net Zero (GFANZ), a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.

Working group members are committed to working closely with the governments and partners supporting Indonesia’s transition, as well as GFANZ and the private sector. The aim is to create a blueprint for how private finance can collaborate with governments, public finance, and others, to implement ambitious climate objectives.

Christian Sewing, CEO, said: “Deutsche Bank has been on the ground in Indonesia for more than 50 years, and we are deeply committed to the development of the country’s economy and markets. Taking action to make this development more sustainable is very important to Indonesia and to the global fight against climate change. We are therefore very proud to be a member of the GFANZ Working Group in support of the Indonesian Just Energy Transition Partnership, mobilising private finance in support of an accelerated transition path.”

The GFANZ Private Sector Finance Working Group also includes Bank of America, Citi, HSBC, Macquarie, MUFG, and Standard Chartered.

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