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Indonesia: OJK affirms commitment to sustainable finance

The Financial Services Authority ('OJK') affirmed, on 2 November 2021, its commitment to implementing sustainable finance policies to support global green economy programmes and sustainable development. In particular, the announcement notes the OJK's commitment to accelerating sustainable finance has been realised through the Sustainable Finance Roadmap in 2015-2019 and continued in the second phase in 2020-2024. More specifically, the announcement details the Sustainable Finance Roadmap's objectives which include the acceleration of sustainable finance, increased supply and demand for funds and environmentally friendly financial instruments, as well as the supervision and coordination of sustainable finance in Indonesia.

In addition, the announcements highlight's the OJK's next strategic steps for implementing sustainable finance principles including the completion of the Indonesia Green Taxonomy, the development of a risk management framework and risk-based supervision guidelines for climate-related financial risks, and the development of innovative and feasible financing schemes for sustainable finance.

You can read the press release, only available in Indonesian here.