The Indonesian Sustainability Forum (ISF) 2023, one of the world’s largest gathering on sustainability issues in Asia-Pacific, today concluded on a high note with the signing of a series of Memorandum of Understanding (MoU) that would contribute to accelerate the transition towards green energy and inclusive economy in Indonesia.

At least 2,000 people joined the two-day gathering which was attended by government top leaders such as Papua New Guinea, James Marape, Head of global organization such as the International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, and the World Bank President, Ajay Banga.

The Indonesian Government, through the Coordinating Ministry of Maritime Affairs and Investment (Kemenko Marves), hosted the ISF 2023, in partnership with the Indonesian Chamber of Commerce and Industry (Kadin Indonesia).

Speaking to close the ISF 2023, Deputy Coordinating Maritime Affairs and Investment, Rachmat Kaimuddin, said that the large turn-out of the event, as well as the signing of the key pacts signify a positive shift in the region to support the sustainability agenda.

“The sustainability agenda is not a check-the-box activity for the government and corporate world. It's about a change of business models in our consumption and growth to ensure that our progress for prosperity can swiftly continue, while also protecting our planet. In this context, strong public and private partnership can foster an enabling ecosystem for new and green business to grow.”

He added that international collaboration can be the key to break down the barriers of high cost financing, limited access to technology and human capital for countries to fully embrace sustainable growth, especially for developing economies.

Coordinating Vice Chairwoman for Maritime, Investment and Foreign Affairs Kadin Indonesia, Shinta Kamdani, said that the Forum was an opportunity for the private sector to create concrete and meaningful contributions to the sustainability agenda. “
The Indonesian business community is ready to accept greater responsibility to ensure that sustainability practices are being ingrained into our business operations. The private sector has always been the engine of Indonesia’s robust growth in recent years, therefore, any positive change to bolster the sustainability agenda will have a significant impact on society and the planet. We look forward to strengthening the concrete collaborations which have been formed in this Forum in the coming weeks and months.” said Kamdani.

Following are the MoU signed at the ISF 2023:

MOU 1 : Cooperation and Implementation of Carbon Capture, Utilization and Storage Technology between PT PLN (Persero) and Karbon Korea Co., Ltd

MOU 2 : LoI signing between Stanford Doerr School of Sustainability and Otorita Ibu Kota Nusantara, signifying the interest of Stanford University to develop research collaboration with Indonesia’s new capital city, Nusantara.

MOU 3 : New Renewable Energy (EBT) signing by Inspira and Original Equipment Manufacturers (OEMs).
The launching of Pertamina Sustainable Academy launch the first-of-its-kind, at-scale Oil & Gas Sustainability Academy in Asia.
Joint Declaration between Ministry of Energy and Mineral Resources of the Republic of Indonesia and Indonesia’s state-owned electricity company (PLN) on Support for Infrastructure of Charging and Battery Swap Ecosystems for Battery Electric Vehicles

More than 100 speakers from the business sector, civil society and government participated in 10 plenary and 14 thematic sessions at the ISF 2023. The ISF plenary sessions tackled issues ranging from green energy transition and technology, biodiversity protection and down streaming critical mineral industry for decarbonization. The ISF 2023 also featured 14 thematic sessions on issues such as circular economy, international cooperation, clean air management, green financing, among others.

The Indonesian government aims to turn the ISF into an annual event.