We have been waiting for this for a long time.
Jimbaran, Bali (ANTARA) - Investment Minister Bahlil Lahadalia unveiled the Sustainable Investment Guidelines (SIG) in Jimbaran, Bali, on Monday, which aim to encourage the growth of sustainable investment that does not harm the environment in Indonesia.

"So far, we have been fussing over investment (saying that it) damages the environment, (and saying that) investment does not pay attention to the people—it (the discourse) keeps being echoed,” he noted at “The Introduction to the G20 Bali Compendium & the Launch of the Sustainable Investment Guidelines” event.

He then asked the Deputy for Investment Planning at the ministry, Indra Darmawan, to establish a national investment guideline, which is in accordance with the sustainability concept.

The minister also directed his ranks to involve non-governmental organizations (NGOs) in compiling the guidelines.

Meanwhile, Darmawan said that the new guidelines would complement other existing green economy guidelines.

The existing guidelines include the Green Taxonomy Guideline of the Financial Services Authority (OJK), the Green Economy Index of the Investment Ministry, and the Environmental, Social, and Governance (ESG) Framework and Manual of the Finance Ministry.

"The guidelines issued by BKPM (Investment Coordinating Board/Investment Ministry) will be applied to all business actors in all sectors (in Indonesia) by using adopted indicators, which (also) apply globally," the deputy informed.

The emission reduction targets laid down in the SIG will also follow the national targets set by the government, such as the implementation of the new and renewable energy mix, which is targeted to reach 23 percent by 2030.

Deputy Chairperson for Regional Autonomy Development at the Indonesian Chamber of Commerce and Industry (Kadin), Sarman Simanjorang, welcomed the launch of the SIG so that potential investors or entrepreneurs have guidelines on environmental sustainability as well as developing cooperation with micro, small, and medium enterprises (MSMEs).

"This guide is very positive for business actors. We have been waiting for this for a long time," he remarked.

He added that the issuance of the SIG will expedite investment realization in Indonesia since it will help investors understand the regulations and conditions of doing business in the country as well as their obligations.

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Translator: Ade Junida, Uyu Liman
Editor: Sri Haryati
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