01 September 2022 | Tri Hita Karana Climate Road To G20 Dialogue “Making History for Climate Action” Unlocking Finance for the Energy Transition and Nature Oceans

Co-hosted by Special Presidential Envoy for Climate John Kerry and Coordinating Minister for Maritime and Investment Affairs, Luhut Binsar Pandjaitan and Coordinating Minister for Economic Affairs, Airlangga Hartarto, B20, KADIN, ICC, UN SDSN, Global Blended Finance Taskforce, and UID inviting G20 Energy, Environment & Climate Ministers, funds and Multilateral Institution. This private closed-door hybrid event was conducted with participants from diverse sectors and experts including patrons and principals government, environmental practitioners, the green industry, financing and investment groups, international environmental advisory and business development group, environmental associations, and organizations. The event featured national and international speakers and subject matter experts on two Deep Dive Discussion.

Deep Dive Discussion 1:
(B20 Host)

“Accelerating a Just Transition to Sustainable Energy”

Indonesia on its G20 Presidency has the chance to receive feedback on international support, especially from developed countries, in preparing energy transition programs through capital support and technology transfer. However, as we transition to a sustainable energy future, we should prioritize a “just transition” that ensures both benefits and costs are equitably distributed.

The Energy Transition takes a market approach in the early retirement of coal fired power plants and just transition towards renewable energy. Indonesia is leading an ambitious approach to energy transition and those identified pipeline of plants for early closure and are committed to a just transition where benefits are shared. While momentum continues to grow to invest in “green” projects, there is still a gap in financial innovation to bring fossil-fuel infrastructure offline, especially to decommission coal fired power plants early, and to address the billions of dollars, which still flow into coal production. Tackling existing and new capital going to coal (whether through project or corporate finance) must be the first priority to meet net zero commitments and benefit from green investment and jobs. Acknowledging the unprecedented political leadership and momentum, and building on the expertise, research and innovation of many others, this discussion will be an opportunity to evaluate learnings from other countries (e.g., South Africa’s JET-P) and to foster engagement with key stakeholders on how to create the unique financial incentives needed to accelerate Indonesia’s just energy transition.

Deep Dive Discussion 2:

“Ocean 20 Blue Finance: Unlocking Capital for Oceans”

Ocean, as the largest ecosystem on earth, is a major food source for nearly half of the world’s population and is home to an estimated 80% of the planet’s biodiversity. Major industries such as shipping, fishing, aquaculture, and coastal tourism depend upon ocean health.

With an estimated annual economic value of US$2.5 trillion, the blue economy is progressively attracting investors, insurers, banks, and policymakers as a new source of wealth. However, rapid and unsustainable growth can lead to environmental risks and loss of natural capital, erode the marine resource base and create regulatory, market, and physical threats. The financial and investment community has a key role to play in promoting sustainable investment, but they need guidance on how to act in a complex environment that inherently poses significant business risks. This discussion aims to attract the key keyholders to collaborate in achieving a sustainable blue economy by unlocking capital for oceans.

SPEAKERS LINE-UP

Opening Remarks

• Tri Hita Karana, Tantowi Yahya, THK Forum Executive Lead
• B20 Indonesia, THK Steering Committee and Chairman of KADIN, Shinta Kamdani, Chair of B20 Indonesia 2022, THK Steering Committee
• Arsjad Rasjid P.M., Chairman of the Indonesian Chamber of Commerce and Industry (KADIN)

Setting the Scene on Blended Finance for Climate Energy Transition Climate and Nature Positive by THK co hosts

• H.E. Luhut Binsar Pandjaitan, Coordinating Minister of Maritime Affairs and Investment, Republic of Indonesia, THK Forum Co-host. “The importance of accelerating a just transition to sustainable energy”
• The Honorable John Kerry, U.S. Special Presidential Envoy for Climate , United States of America, “Enhanced support from developed to developing countries in sector reforms to ensure the transition to sustainable energy”

 Special Remarks

• Robert S. Kaplan, Co-chair of Tri Hita Karana, Senior Fellow and Marvin Bower Professor of Leadership Development, Emeritus at the Harvard Business School.
• Jules Kortenhorst, Chief Executive Officer of Rocky Mountain Institute, THK Forum Partner
• Paul Polman, Influencer, Business leader, Campaigner, Co-author of “Net Positive”, THK Forum Steering Committee and NCCC Council Chair

Deep Dive 1:

“Accelerating a just transition to sustainable energy”

Delivery of Task Force Policy Recommendations

• Oki Muraza, Senior Vice President Research & Technology Innovation, Pertamina (Task Force Policy Manager)
• Valentin De Miguel, Senior Managing Director – Strategy & Consulting Lead and Sustainability Services Lead at Accenture -Growth Markets
• Febriany Eddy, CEO, PT Vale Indonesia Tbk

Responding remarks: B20 Energy, Sustainability & Climate Task Force

Leadership Attendance:

• Mari Elka Pangestu, World Bank Managing Director of Development Policy and Partnerships, THK Forum Cofounder
• Ambassador Robert Blake – Senior Advisor to US Special Presidential Envoy for Climate
• Lord Nicholas Stern, Chair of the Grantham Research Institute on Climate Change and Environment, London School of Economics, NCCC International Advisory Council, Tri Hita Karana Forum
• Darmawan Prasodjo, President Director Perusahaan Listrik Negara (PLN), THK Forum Partner
• Edwin Syahruzad, Chief Executive Officer PT Sarana Multi Infrastruktur (Persero), THK Forum Partner
• Jon Moore, CEO of Bloomberg NEF
• Nicole Iseppi, Bezos Earth Fund

Closing Remarks

• Siti Nurbaya, Minister for Environment & Forestry, Republic of Indonesia, THK Forum Partner (5 mins) (tbc)
• Agung Wicaksono, Deputy Chair of Energy, Sustainability and Climate Task Force and CEO of PT Jababeka Infrastruktur

Facilitated by Tantowi Yahya, THK Forum Executive Lead

Deep Dive 2:

“Ocean 20 Blue Finance: unlocking capital for oceans”

Honorary Chair:

Sakti Wahyu Trenggono, Minister of Marine Affairs and Fisheries of Indonesia

Roundtable Discussion:

• Peter Thomson, Fijian diplomat and the United Nations SecretaryGeneral’s Special Envoy for the Ocean, and Former President of the United Nations General Assembly
• German Velasquez (Jerry), Director of Mitigation and Adaptation, Green Climate Fund
• Genevieve Ding, AWS Lead for Sustainability Policy & Strategy
• Gim Huay Neo, Managing Director, Centre for Nature and Climate at the World Economic Forum
• Tomas Anker Christensen, Climate Ambassador, Ministry of Foreign Affairs of Denmark
• Enki Tan, Board Member of Conservation International / Ketut Putra, APFD Transboundary Oceans Senior Advisor Konservasi, Indonesia
• Endah Tri Kurniawaty, Director of The Environmental Fund Management Agency
• Raul Herrea, Partner of Arnold & Porter

Discussion chaired by:

• Pak Jodi Mahardy, Deputy Coordinating Minister for Maritime
• Resources, Coordinating Ministry for Maritime and Investment
• Affairs, Republic of Indonesia/ Katherine Stodulka, Partner
• SYSTEMIQ, Director Global Blended Finance Taskforce
• Facilitated by Tantowi Yahya, THK Forum Executive Lead

Closing remarks & call to action

• Sir Gordon Duff, Former Pro-Vice Chancellor, Oxford University, Honorary President of United in Diversity Foundation
• E. Airlangga Hartarto, Coordinating Minister of Economic Affairs, Republic of Indonesia, THK Forum Co-host