Policymakers can use the pandemic to bolster Indonesia’s shift towards a greener economy
Rofi Alhanif, assistant deputy of waste and sewage management at the Coordinating Ministry for Maritime Affairs and Investment, told Antara that “The garbage management has been directed at (green economy). There has been a paradigm shift in waste treatment, as plastic waste is now an issue.”
This is in reference to the country’s government urging the implementation of its waste management initiatives.
Data collected by the National Plastic Action Partnership revealed that Indonesia produces 6.8 million tonnes of plastic annually. Ten percent of which ends up in the sea. If left unresolved, the sea will be brimming with at least 780,000 tonnes of plastic waste by 2025.
It is possible to successfully implement the roadmap to Indonesia’s sustainable green economy through strong political commitment and the adoption of harmonised environmentally responsive policies.
According to East Asia Forum, policymakers can use the pandemic to bolster Indonesia’s shift towards a greener economy, considering that there can be environmental degradation that can significantly damage the country’s economy.
The long-term goal of a sustainable green economy is to promote human well-being while also reducing environmental hazards. From a global standpoint, it will attract foreign investors looking into green investments and decarbonisation.
At COP 26 in Glasgow, Indonesian President Joko Widodo emphasised the Indonesian government’s strong commitment to climate resilience through nationally defined contributions. The country’s Low Carbon and Climate Resilience 2050 strategy reflects this commitment.
The new Law on Harmonisation Tax Regulations demonstrates the country’s strong political commitment to climate resilience. It establishes a carbon tax, which will take effect in April 2022. It also helps the transition to net-zero emissions by 2060, meeting Indonesia’s long-term carbon pricing strategy.
Ultimately, Indonesia should proceed with caution when it comes to their new environmental fiscal strategies, as this might, instead, cause a “green paradox.” This is an occurrence where their efforts induce accelerated fossil energy extraction and increased carbon emissions instead of making things better for the environment.
The Property Report editors wrote this article. For more information, email: [email protected].
Setting the pace with Economist William Thomas
Marathon runner and director of The Economist Corporate Network in Southeast Asia William Thomas is thinking strategically about the future of the region’s cities
This will be Singapore’s largest business district outside the CBD
The Western Gateway to Singapore is shaping up with an exciting new opportunity for tourism players to take part in
Bright future awaits Indonesia as economy rebounds and consumer sentiment improves
The nation’s real estate market remains moribund following the pandemic. But strong housing demand and bright economic tidings offer grounds for optimism
Where Gen Z and millennials stand now on the property ladder
The buying ambitions of young property seekers around Southeast Asia are being stymied by a range of factors