Jakarta (ANTARA) - The Indonesian Minister of Finance Sri Mulyani Indrawati has emphasized the importance of executing the transition to a green economy in order to mitigate the adverse impacts of climate change.

Based on data from the World Bank, she cautioned that climate change could cost the global community US$560 billion and drag as many as 100 million people into poverty annually.

"A financial transition has become crucial to create more sustainable environmental conditions for all human beings," she remarked during the 2023 Indonesia International Conference for Sustainable Finance and Economy in Jakarta on Wednesday.

In her speech, Indrawati underscored the need for relevant stakeholders to comprehend, identify, and take concrete actions aimed at mobilizing funds required for carrying out a transition to a green economy, including by actively participating in discussions on climate issues at global forums.

She said that her ministry has been actively involved in discussions on climate change issues, both at the regional and global levels, including ones held under Indonesia's leadership in the G20 last year and the Association of Southeast Asian Nations (ASEAN) this year.

She also noted that issues related to climate change have been continuously endorsed to be discussed at meetings of finance ministers.

However, Indrawati affirmed that all parties should take concrete actions to mitigate climate change rather than merely delivering speeches.

"All the speeches, all the commitments, can be tested on real issues. Indonesia has always discussed and presented the actual cases," she stressed.

She expressed optimism that by transitioning to renewable energy to handle the effects of climate change, Indonesia could become a testing ground for the commitments made and discussions held in relation to climate change.

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Translator: Imamatul S, Tegar Nurfitra
Editor: Anton Santoso
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