Responsibank Holds Equitable Energy Transition Financing Training

ResponsiBank Indonesia has held a training with the theme “Financing a Just Energy Transition” on 31 May – 1 June 2022. Held in a hybrid manner by inviting one of the researchers from Profundo as a presenter, Jurany Ramirez, this training was attended by participants from various backgrounds ranging from from students, bankers, to CSOs. 

This training is carried out in order to encourage equitable energy transition financing and investment practices. So that financial institutions play a role in ensuring that the energy transition is not only a solution to climate change, but also ensures that these changes do not lead to social consequences. particularly on the rights of workers affected by the transition, including women, children and other vulnerable groups. 

According to The PRAKARSA Deputy Director, Victoria Fanggidae, ResponsiBank needs to conduct this training because apart from financing, the energy transition to justice is also a major issue in various working groups related to sustainable development at the G20 meeting. 

"So we can't be left behind because as civil societies we also need to provide constructive input on how the energy transition is carried out fairly," said Victoria, Tuesday (31/5). 

Meanwhile, Jurany in his presentation explained that climate change and energy transition are urgent matters that require sustainable steps, including in the financial sector. 

In the context of Indonesia, as a country that is highly vulnerable to the impacts of climate change, Indonesia needs to take significant steps to align the Paris Agreement targets with energy transition support from banks and the government. 

The role of the financial sector is very important to balance emission reduction activities and maintain the global economy, so a progressive and large-scale regulatory and policy climate is needed. 

Jurany also said that the government needs to ensure that the framework for dealing with climate change is clearer, more serious, and not only normative through several incentives that encourage the energy transition, one of which is public financing. Therefore, the government and financial institutions can provide strategic policies with policies such as a sustainable finance roadmap, fiscal stimulus, and several other instruments that are more practical and applicable. 

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