Financial investment is crucial in the global efforts to tackle climate change, as pronounced in the COP-26. It is also reflected in the Indonesian media for the past two months. In the December edition of Media Monitoring, climate finance remains the talk of the nation, along with the policy instruments to support such financing. We found that most climate-related news in the media revolves around these four themes.
- Climate Financing. The media emphasised Indonesia’s efforts to strengthen its climate financing governance, one of which is through climate budget tagging. CNN reported that the Indonesia Minister of Finance challenged Pertamina, the biggest state-owned energy company, to allocate more funds to combat climate change while identifying mitigation and adaptation spending through budget tagging. Another media outlet, Investor, highlighted that Indonesia could only allocate 29% of the required IDR343 trillion to finance climate actions.
- Energy Transition. Indonesia’s energy transition to reach net-zero carbon emission has also been the talk of the month in the media. Indonesian media reported the Country’s action to promote biogas and the shift from fossil fuel to renewable energy.
- Extreme Weather. Indonesia is bracing for a wetter season in the last month of 2021. As Tempo and Kompas reported, the Country’s Meteorological Agency has sounded the alarm bell of the possibility of extreme weather events induced by climate change.
- Private Sector. The Government of Indonesia is aware of the limit of public resources to scale up climate finance. To mobilise more funds, the Government sees the importance to work with the private sector to push for green investment and create more green employment.
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