2021 economic growth supported by renewable energy industry: Minister

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TEMPO.CO, JakartaThe New and Renewable Energy (REN) industry has been one of the key sectors that have supported Indonesia’s positive track record. economic growth in 2021, according to Coordinating Minister of Economic Affairs Airlangga Hartarto.

“Indonesia’s real gross domestic product (GDP) in 2021 was higher than real GDP before the pandemic. Currently, we have been assessed as an upper-middle-income country,” he noted on Wednesday as part of the Green Economy Outlook 2022.

The green economy has become the government’s main strategy for medium- and long-term economic transformation to accelerate economic recovery and encourage inclusive and sustainable development, he said.

Therefore, the implementation of green financing is important, he stressed.

Green financing should not only be implemented through the state budget (APBN) or the issuance of green debt securities and green sukuk, but should also be extended to various other financial instruments, did he declare.

“Furthermore, blended finance should be encouraged, not only by government, but also by the private sector and international donor agencies, especially those that focus on nature conservation,” he said.

The Environmental Funds Management Agency (BPDLH) should also encourage the development of transparent carbon trading, he said.

The government has continued to strive to increase green finance cooperation with various international institutions, he noted.

“Therefore, the government has established the Indonesian Investment Authority (INA), which is expected to improve Indonesia’s long-term investment opportunities, especially for the construction of various infrastructures that support national sustainable development” added the Minister.

In addition, the Financial Services Authority (OJK) released the second phase of the Sustainable Finance Roadmap 2021-2025 to encourage the implementation of the green taxonomy, he noted.

In addition, the government launched a risk-based business licensing system on August 9, 2021, to facilitate the development of a safe, secure, sustainable and environmentally friendly business ecosystem in Indonesia, he added. .

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