Background

Echoing the UN Secretary-General said about the era of global boiling has arrived, the final installment of the Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report in March 2023 detailed the devastating consequences of rising greenhouse gas (GHG) emissions and climate change around the world. This report mentioned the severity of climate change impacts as well as the increasingly dangerous and irreversible risks should we fail to act fast. The report also warned that the now increased 1.1⁰C global temperature has disrupted all living systems in every region of the world like drought, increased potential disease outbreaks, reduced availability of water resources to more extreme weather events and rapidly disappearing sea ice.

It is worth noting that climate change is not solely considered as an environmental issue but also a development issue which affects also the economy and the social. Take Indonesia as an example. There, it is estimated that the economic loss caused by disasters that are dominated by hydrometeorological disasters reached up to IDR 22.8 Trillion per year and have caused up to 1,183 fatalities in the last 10 years. In total, climate change is estimated to cause  economic loss worth IDR 544 Trillion if no policy intervention is carried out.

The impacts of climate change that happen all over the world surely displayed a grim situation for our world. However, the synthesis report also offers pathways to avoid these devastating risks such as readily available actions that can be undertaken now to reduce GHG emissions and minimize the impacts of climate change.

In agreement with several solutions offered by the report, Indonesia, through the Ministry of National Development Planning/National Development Planning Agency (Bappenas), has established the Economic Transformation Strategy through Green Economy Framework. The Green Economy Transformation Strategy is backboned by the Low Carbon and Climate Resilience Development to drive Indonesia’s economic growth and achieve net zero emissions in 2060 or sooner. The green economy interventions with Low Carbon and Climate Resilience Development offer to realize the nation’s average GDP growth in 2025-2045 by 6,22%. Green Economy would also bring possible stepstones to achieve sustainable development and the net zero emission target in tangible and systematic manners that is believed contribute to the world’s better future.

To measure the achievement and progress of Green Economy implementation, Indonesia has promoted Green Economy Index for both national and subnational level. This composite index adopted the global initiative to be able to monitor the progress and performance of several indicators that reflect the achievement of Green Economy implementation each year. The index is also beneficial inputs for setting necessary policy intervention in the priority areas. The index complements Indonesia’s efforts in shifting towards a green economy by providing an accurate and reliable methodology in measuring the progress and achievements. For that, the Government of Indonesia has been integrated the Green Economy Index into the National Long-Term Development Plan (RPJPN) 2025-2045 as one of the 17 goals to achieve Indonesia’s 2045 target: to become a Sovereign, Developed, and Sustainable Archipelago and subsequently will be integrated to the medium and annual development plans.

Moving forward, the transition towards Green Economy with low carbon and climate resilience development will require several enabling conditions especially in green financing and technology innovations. That is why it is important to collaborate with all stakeholders, locally and internationally, to accelerate the progress at each stage of transition faster. Additionally, it is essential to bring collaborative ideas from different angles to understand opportunities and setbacks in mitigating implementation of the Green Economy.

Objectives

The discussion session is expected to:

Exchange ideas and sharing knowledge in implementing Green Economy to reach the net zero emissions and sustainable development

Gain global-collective perspectives in supporting the Green Economy framework through finance and technology innovations

Target audience

Stakeholders relevant to Indonesia’s economic transformation policy and net zero emissions along with sustainable development, but not limited to representatives from the Government, Development Partner, Non-Government Organization, Private Sector and Small Medium Enterprise, Civil Society, and Academician.

Format of Talk Show

A panel discussion led by a moderator, where all panelists share their respective thoughts based on their selected-themes through a presentation deck or visual representation