Minister Of Environment And Forestry Emphasizes The Importance Of Resource Mobilization For Sustainable Development

Minister of Environment and Forestry (LHK), Siti Nurbaya. (doc KLHK)

JAKARTA - The Minister of Environment and Forestry (LHK), Siti Nurbaya highlighted the importance of resource mobilization, including the economic sector, to encourage sustainable development as Indonesia has done with the issuance of green sukuk.

"One of the important elements in realizing the global environmental agenda and recovering stronger from the COVID-19 pandemic is the mobilization of resources to finance sustainable development, both through a green and blue economy portfolio," said Minister of Environment and Forestry Siti Nurbaya when opening the Stockholm virtual dialogue + 50 which was followed from Jakarta, Monday 30 May.

Activities that promote sustainable development include funding, technology transfer and capacity building.

He reminded that in the Glasgow Climate Pact as a result of the 26th United Nations Climate Change Conference (COP-26) in 2021, it has been mandated by each country to increase commitment to climate change mitigation ambitions.

Developed countries are mandated to provide support to developing countries, including in terms of financial mechanisms to increase investment for adaptation and mitigation actions as well as funding sources that are more accessible to developing countries.

No less important, said Siti, is the mobilization of resources from public, private and mixed funding for sustainable development that must be carried out and accelerated.

"Indonesia is the first country in the world with the government issuing sharia bonds in the form of green sukuk to finance climate change adaptation. The business world uses corporate social responsibility funds and mobilizes support for nature and community sustainability," he said.

He hoped that the international meeting Stockholm +50 on 2-3 June 2022 which was held by the United Nations would contribute to the development of a shared vision of rebuilding the world from the impact of the pandemic with green and blue principles.

"This must be supported by increased mobilization of sustainable resources that are directed at priority actions and can advance environmental recovery," he said.