Just Energy Transition Partnership (JET-P)

About Just Energy Transition Partnership (JET-P):

 

• It is a mechanism for multilateral financing by developed countries to support an energy transition in developing countries.
• It aims to reduce emissions in the energy sector and accelerate the coal phase-out. 
• Transition describes the gradual movement towards lower carbon technologies, while ‘Just’ qualifies that this transition will not negatively impact society, jobs and livelihoods.
• It was launched at the COP26 in Glasgow with the support of the United Kingdom (UK), the United States (US), France, Germany, and the European Union (EU).
• Senegal has become the fourth country after South Africa, Indonesia and Vietnam to sign the JET-P deal, with the International Partners Group comprising France, Germany, the European Union, the United Kingdom and Canada.
• India refused to give its consent saying that coal cannot be singled out as a polluting fuel, and energy transition talks need to take place on equal terms.

 

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Q1) What is the Conference of the Parties (COP)?

It is a term commonly used in the context of international climate change negotiations under the United Nations Framework Convention on Climate Change (UNFCCC).The Conference of the Parties (COP) is the supreme decision-making body of the UNFCCC. It brings together representatives from countries that are Parties to the convention to assess progress in dealing with climate change.

Source: Senegal signs Just Energy Transition Partnership deal after South Africa, Indonesia & Vietnam