Abstract
A Just Energy Transition Partnership (JETP) is a climate finance mechanism comprising a host country and an International partner group (IPG). It is part of a global initiative that has committed to providing billion-dollar financial packages to selected lower-income countries. However, implementing a multilateral partnership such as a JETP requires much effort and many transactions among multiple stakeholders to be successful. Transaction costs (TCs) refer to the costs incurred by host and partner countries in the process of developing the partnership. There is a gap in the knowledge about the transaction costs associated with JETPs. By combining a scoping review of the grey literature and document analysis of JETP documents, this study provides an in-depth analysis of different types of TCs associated with JETP Indonesia and their drivers. The study finds that asset specificity, uncertainty, legitimacy, and accountability influence the TCs in the governance of the Indonesian JETP.
