Since COP26, four Just Energy Transition Partnerships (JETP) political declarations have promised to mobilize billions of dollars to stimulate the energy transition in emerging markets. It is too early to judge the success of these four pilot partnerships. Implementation revealed many challenges, including the risk of being used for geopolitical purposes, hidden conditions, loss of confidence, and excessive debt. To mitigate these risks, JETPs should report results under the Paris Agreement transparency mechanisms, adopt widely accepted social and environmental standards, and reduce the share of sovereign debt in the package of measures while increasing the share of private finance.