They (the industries) will definitely have the opportunities to grow faster (thanks to the transition).
Jakarta (ANTARA) - Green economic growth should create new jobs with higher quality, so the green economy transition will not increase poverty or unemployment, Indonesian Finance Minister Sri Mulyani Indrawati stated.

"The green economy transition is (implemented) for (the sake of) future generations, and (it) must also ensure protection for the current generation, especially for the underprivileged and most vulnerable people," the minister remarked at the side event of Indonesia’s 2022 G20 Presidency titled "Sustainable Finance for Climate Transition Roundtable" in Badung District, Bali Province, on Thursday.

Indrawati noted that the Indonesian government had prepared roadmap, policies, infrastructure, and regulations, as well as analyzed and readied mitigation plans on the short-term social impact that might occur due to the economic transition.

There will be opportunities for new and more eco-friendly investments due to the transition, especially for the battery, electric vehicle, as well as solar panel industries.

“They (the industries) will definitely have the opportunities to grow faster (thanks to the transition),” the minister stated.

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The minister noted that in addition to the green industry, the carbon market should be readied to accommodate the economic transition.

To mitigate the short-term impact of the transition, Indrawati said that the government will strive to provide best public services and ensure the stability of commodity prices.

If the need arises, energy price adjustment will be conducted gradually and carefully to maintain the people's purchasing power.

Indrawati noted that for meeting the community's demand, the government will ensure the stability and availability of essential services, such as electricity; stability of energy, food, and public transportation prices; social protection for the poor and vulnerable people; as well as implementation of sustainable development.

The "Sustainable Finance for Climate Transition Roundtable" is the side event of the 3rd 2022 G20 Finance and Central Bank Deputies (FCBD) Meeting as well as the 3rd 2022 G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting.

The 3rd FCBD and FMCBG meetings were held in Nusa Dua, Badung District, Bali Province, on July 11-17, 2022, with the themes of policy normalization; digital economy and finance; green, inclusive and sharia economy; as well as international taxation.

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Translator: Agatha Victoria, Uyu Liman
Editor: Suharto
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