The loss due to extreme weather are expected to reach 18 percent of the global GDP (Gross Domestic Product) by 2050 if there is no mitigation attempt.
Jakarta (ANTARA) - Head of Bank Indonesia’s Representative Office for Central Java Rahmat Dwi Saputra noted that green investment could create new jobs up to seven to 10 folds more than conventional investments.

"It is because of the implementation of new, renewable energy, energy efficiency, recycling processes, and other activities regarding environmental responsibility that are more labor intensive," Saputra noted during a webinar titled "Green Economy as The Main Road to Achieve Sustainable Development in Indonesia" on Wednesday.

Green investment is needed to address the climate change crisis that has triggered extreme weather condition that is estimated to have caused total losses of up to US$5.1 trillion globally in the last two decades.

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"The losses due to extreme weather are expected to reach 18 percent of the global GDP (Gross Domestic Product) by 2050 if there is no mitigation attempt," he cautioned.

As an archipelagic nation, Indonesia is also considered as being more vulnerable to various natural disasters triggered by climate change that had caused total losses of up to Rp100 trillion per year, the official stated.

He remarked that the amount is expected to increase to 40 percent of Indonesia’s GDP by 2048.

Hence, his side collaborates with the Central Java provincial government to attract more green investments.

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As a result of the cooperation, Central Java was also the first province to successfully complete its regional general energy plan to realize energy transition, with a target of implementing 21 percent of the new and renewable energy (EBT) mix.

Several green investment opportunities offered by the provincial government currently include the establishment of a water-to-energy facility in Semarang City, a mini-hydro power plant in Banyumas District, as well as several floating solar power plants in various areas of the province.

"According to the project plan, the waste-to-energy facility in Semarang City will be located in Jatibarang Sub-district, and it is targeted to be able to process one thousand tons of waste every day," Saputra added.

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Translator: Sanya Susanti, Uyu Liman
Editor: Fardah Assegaf
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