Just Energy Transition Partnerships (JET-Ps)
Just Energy Transition Partnerships (JET-Ps) are a structure for accelerating the phase-out of fossil fuels in emerging markets and developing economies, which coordinate financial resources from developed countries and the private sector to partner recipients.
2030 Goals
- Learning from the current process, effectively scale JETPs as transformational plans for decarbonization that include stakeholders from across the domestic and international system.
- Use the experience gained from the initial group of countries to ensure the challenges encountered are mitigated, as JETPs are extended to other economies.
- Determine how JETPs can be used to enable other revenue streams, for example private sector financing and carbon markets, and how these relate to transition financing. Explore additional focus areas within JETPs, such as Just Adaptation and Resilience Transition Plans, to ensure a comprehensive approach that integrates mitigation, adaptation, and resilience
StatusModerate progress
Moderate progress
- Four JETPs have been announced to date, with a variety of lessons learned from the development and initial implementation of each. They remain a high-potential source of both public and private financing for early coal phaseout in EMDEs, where domestic financing alone cannot cover the infrastructure burdens of changing to a cleaner energy mix.
- An important aspect to engage with is benefit and/or revenue sharing models for impacted communities. This is poorly understood, and there are few models of operationalization.
Leading Actors
Private FIs
Citigroup, HSBC, Bank of America
Public FIs
Agence Française de Développement (AFD), KfW (Germany), Development Bank of Southern Africa
Multilateral Development Banks
Asian Development Bank (ADB), African Development Bank (AfDB)
International Organizations
International Partners Group (IPG- members: Canada, Denmark, France, Germany, Italy, Japan, Norway, The Netherlands, UK, US).
Leading Countries
Indonesia, Senegal, South Africa, United Arab Emirates
Alliances
Glasgow Financial Alliance for Net Zero (GFANZ)
Supportive Stakeholders
South Africa PCC, Green Cape Development Agency, National Business Initiative, Rockefeller Foundation, The Environmental Defense Fund
Milestones
The below events contain milestones related to JET-Ps.
November
UNFCCC COP30
Milestones
Just Energy Transition Partnerships (JET-Ps)
At least two more countries announce their JETPs.
Resources
The below resources all pertain to the topic of JET-Ps.
Working Paper: Guidelines For Financing a Credible Coal Transition A Framework for Assessing the Climate and Social Outcomes of Coal Transition Mechanisms
Country Led Initiatives, Just Energy Transition Partnerships (JET-Ps)
This working paper provides a framework for assessing the climate and social credibility of financial transactions that aim to accelerate a managed phaseout of coal-fired power plants globally.
Scaling the JETP Model – Prospects and Pathways for Action
Country Led Initiatives, Just Energy Transition Partnerships (JET-Ps)
The Rockefeller Foundation partnered with the Environmental Defense Fund, to facilitate a series of convenings that examined Just Energy Transition Partnerships (JETP) and how to scale these models to benefit the world's most vulnerable communities.
Joint article on Just Energy Transition Partnerships from the UK, US, Italy, France, Canada and the European Commission
Country Led Initiatives, Just Energy Transition Partnerships (JET-Ps)
What are JETPs? (Just Energy Transition Partnerships)
Country Led Initiatives, Just Energy Transition Partnerships (JET-Ps)
Joint Multilateral Development Banks (MDBs) Statement for COP 29 – MDBs’ Support to Implementing the Paris Agreement
Country Led Initiatives, Just Energy Transition Partnerships (JET-Ps)