On October 2, 2024, Indonesia's Deputy Governor of Bank Indonesia, Juda Agung, announced the launch of the Green Calculator, aimed at providing an early warning system for the financial sector regarding carbon emissions linked to economic activities. The initiative is designed to assist both non-financial corporations and financial industries in measuring the sustainability of their economic activities.
The Green Calculator, developed in collaboration with the Coordinating Ministry for Maritime and Investment, will facilitate the tracking of the greenness of economic activities and the progress towards a green economy. It is expected to help companies meet sustainability reporting requirements mandated by global regulators and markets.
Agung emphasized the tool's potential to improve access to green investments and financing, which may influence banks to offer incentives for sustainable practices. The application is available on both iOS and Android platforms, marking a significant step in Indonesia's commitment to reducing greenhouse gas emissions.
The Green Calculator will initially cover emissions from stationary and mobile fuel sources, as well as electricity consumption. Future expansions will include a broader range of emission-generating activities.
This initiative reflects Indonesia's ongoing efforts to align with international standards for sustainable finance and environmental management, which are crucial in the global fight against climate change.