NUSA DUA, Indonesia : U.S. President Joe Biden on Monday announced a number of investments in Indonesia spanning areas like climate and food security, including a $2.5 billion agreement between ExxonMobil and state-owned energy company Pertamina on carbon capture.
The partnership"will enable key industry sectors to decarbonise" the statement said, citing the refining, chemicals, cement, and steel sectors. It said this would lower carbon emissions, ensure economic opportunities for Indonesian workers and help Indonesia achieve its net-zero ambitions in 2060 or sooner.
Biden is visiting Indonesia to take part in a G20 summit this week in Bali and announced the investments in a meeting with Indonesian President Joko Widodo, where he described the Southeast Asian country as a"critical partner".