JAKARTA - The UK launched its Climate Finance Accelerator in Indonesia on Monday, opening applications for climate-focused businesses seeking at least US$3 million in funding to help close the country's estimated US$472.6 billion climate finance gap. 

Quoting Indonesia’s state-owned agency Antara, around ten Indonesian businesses will be selected from sectors including energy, waste, agriculture, transport, industrial processes and forestry.

Selected firms will receive three to four months of support through group workshops and one-on-one guidance from financial, technical and inclusion experts to help them become investment-ready. Applications close March 9.

The launch follows the strategic partnership agreement signed by UK Prime Minister Keir Starmer and President Prabowo Subianto during the Indonesian president's visit in London in January 2026. Dominic Jermey, the UK Ambassador to Indonesia and Timor-Leste, called Indonesia an important climate partner and major player in global climate action.

Indonesia needs the massive funding to meet its Second Nationally Determined Contribution targets and reach net zero emissions by 2060. The country aims to reduce emissions 31.89 percent unconditionally by 2030, or 43.20 percent with international support, compared to business-as-usual projections.

Indonesia represents one of Southeast Asia's highest-potential markets for low-carbon investment, backed by its rich renewable resources, strategic geography, and large labour force.

The accelerator operates in ten countries including India, Malaysia, Vietnam, South Africa, Kenya, Mexico, Colombia, Pakistan and Thailand.

The program is funded by the UK Department for Energy Security and Net Zero through International Climate Finance, with an additional £40 million commitment announced at COP28 to extend operations until 2029.