The Just Transition Transaction (JTT) in Southeast Asia; Application to Indonesia, Vietnam, and the Philippines

• Main Authors: GANGWANI, Bharat, SHRIMALI, Gireesh, LALL, Rajiv B.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: Just Transition Transaction; green transition; Indonesia; Vietnam; Philippines; national utlility; energy market; Asian Studies; Energy Policy; Environmental Policy; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/skbi/20; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1019&context=skbi
• Institution: Singapore Management University

The Just Transition Transaction (JTT) was developed for South Africa to support its coal retirement and greening of its national utility, ESKOM. We first use South Africa as a reference case study to deconstruct the JTT and develop a framework of necessary and conducive features for its application to other countries. We then use this framework to evaluate the JTT’s suitability for supporting a green transition in key South-East Asian countries, specifically Indonesia, Vietnam, and the Philippines. We find that, while the JTT is suitable for Indonesia and Vietnam, it is not as suitable for the Philippines. Finally, we present a tiered JTT as a model to encourage a green transition at a supranational level and propose avenues for specific research to apply the JTT to Indonesia and Vietnam.