The Tri Hita Karana (THK) Forum for blended finance announced that it had catalysed over $30 billion worth of pledges, projects and initiatives for the UN Sustainable Development Goals (SDGs).
THK supported the incubation of more than 20 projects that will catalyse over $30 billion investment into clean energy, avoided deforestation, ecosystem restoration, marine protection, circular waste management and human health.
The THK Forum held on November 13-14 in Bali under the auspices of Indonesia’s President Joko Widodo ahead of the B20 and the G20 leaders’ summit, attracted hundreds of leaders from business, finance, government, philanthropy and academia.
Tantowi Yahya, executive lead of THK Forum 2022, said the forum acted as a platform to showcase and celebrate major SDG-related commitments, announcements and milestones to drive sustainable development.
Opening the forum, Luhut B. Pandjaitan, coordinating minister of maritime affairs and investment of Indonesia, despite strong commitment to climate change by the country, it was facing a financial gap to accelerate the achievement of SDGs.
“Thus, blended finance is so important to finance so many climate projects,” he said.
The minister said Indonesia was currently finalising the ‘Just Energy Transition Partnership’ (JETP), including collaboration for early retirement of coal power plants and moving towards renewable energy.
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