Indonesian Minister Says Country Needs US$200 Billion For Sustainable Development

Speaking at this week’s ASEAN Finance Ministers and Central Bank Governors Meeting in Jakarta, Indonesia’s Finance Minister Sri Mulyani Indrawati said her country needs US$200 billion in investment to carry out its planned sustainable development.

She also stressed that innovative and environmentally friendly development financing is crucial to transforming the country’s economy. This she added has compelled the government to work diligently to utilise several financing options to support sustainable development projects.

During her address, Indrawati said her ministry has already implemented a number of programs to achieve sustainability, including offering fiscal incentives to attract investment in green projects and green industries.

Indrawati added that she wanted all stakeholders to collaborate in efforts to encourage sustainable development, for example, through a policy framework that can develop rules and instruments to realise green housing finance in Indonesia.

This she said would increase innovation in housing and building construction to achieve energy efficiency, including limiting energy consumption while still paying attention to the need for advances in cooling and ventilation.

She said that these steps are necessary to move toward energy-efficient housing and have been included in new sustainable development projects.

Indrawati also confirmed that Indonesia is in the process of implementing regulations on carbon trading, which will serve as an instrument to reduce greenhouse gas emissions.

The Southeast Asian country has recently reaffirmed its plan to launch its first carbon exchange in September.