Kadin, PLN, and DBS Bank Indonesia support downstreaming and sustainable businesses
Indonesia, 30 May 2024 - The future of sustainability is everyone’s responsibility and downstreaming is part of the effort to make business operations greener. Aware of this, Bank DBS Indonesia held the DBS Asian Insights Conference 2024 with the theme "Election to Action: Crafting A Sustainable Future Towards Golden Indonesia 2045 and ESG Excellence". In one of the sessions entitled "Sustainable Downstream Processing: Balancing Economic Growth with Environmental Integrity", experts and business players such as Kadin Energy Transition Task Force Chairman
Anthony Utomo
and Executive Vice President of Commercial Product Development at PT PLN
Ririn Rachmawardini
shared their views on the benefits of downstream processing.
Speaking on a panel at DBS Asian Insights Conference 2024, Kadin Energy Transition Task Force Chairman
Anthony Utomo
said, "There is abundant opportunity arising from the downstream policy, most notably in the automotive sector. Many OEMs (Original Equipment Manufacturers) are keen to enter Indonesia and this is certainly an opportunity. By virtue of a presidential regulation on EVs (electric vehicles), manufacturers who want to build factories in Indonesia will be given incentives, including import duty exemptions. This should be an opportunity for Indonesia to shift to a green economy."
Kadin Indonesia is actively supporting industry players to help them improve their understanding of sustainability and corporate responsibility through the Kadin Net Zero Hub platform, where companies seeking to achieve net zero emissions will be given pro bono training. The training programme will serve as a guide for business people to the correct sustainability framework. To date, 80 companies have joined the Kadin Net Zero Hub with many companies on the waiting list.
On the same occasion, Executive Vice President of Commercial Product Development at PT PLN (Persero)
Ririn Rachmawardini
revealed PLN's commitment to supporting the government’s renewable energy programmes and to preparing for a sustainable future. "In accordance with the government's roadmap --and we also have programmes-- we strongly support the acceleration of renewable energy development. Consequently, based on PLN’s commitment to net zero emission and to providing support for all government programmes, we developed the RUPTL (Electricity Supply Business Plan) into a green-based RUPTL. And this is the first RUPTL in PLN's history that incorporates EBTs to meet the needs of investors planning to downstream their operations," said
Ririn Rachmawardini
.
PLN is planning an additional 54 gigawatts of green electricity capacity by 2040 and exploring various partnership models to accelerate renewable energy projects in Indonesia. Moreover, in 2023, PLN through PT State Grid Power Indonesia (SGPI), obtained a US$100 million loan from Bank DBS Indonesia to support Advanced Metering Infrastructure (AMI) services. The cooperation aims at boosting digital transformation in the energy sector that can improve the accuracy of electricity transactions.
In addition to PLN, in 2023 Bank DBS Indonesia allocated Rp6.1 trillion to fund various green and sustainable projects in the automotive, food and agriculture, oil and gas, and energy sectors. 30 percent of the fund was allocated specifically for renewable energy projects, in accordance with Bank DBS Indonesia's first sustainability pillar, Responsible Banking.
President Director of PT Bank DBS Indonesia
Lim Chu Chong
highlighted the importance of sustainable measures for Indonesia's future. "The surge in exports and foreign direct investments, as well as the World Bank's upgrade of Indonesia's status to an upper middle-income country in mid-2023, underline Indonesia’s huge potential. To ensure consistent growth, sustainable steps must be taken to prepare for a better future for Indonesia. Bank DBS Indonesia remains committed to supporting this through sustainable financing and initiatives, in line with our mission to be 'The Best Bank for a Better World'," said
Lim Chu Chong
.
As part of the DBS Asian Insights Conference series, Bank DBS Indonesia also organised Indonesia-China Business Forum 2024 to provide a platform for discussions and collaborations for concrete steps for the economic growth of both countries.
Plana and Nafas’ sustainability programmes to tackle environmental problems
In addition to government officials and state-owned enterprises (BUMN), DBS Asian Insights Conference 2024 also presented two young startup founders who are committed to sustainability, namely Plana Founder & CEO
Juan Apriliano Chandra
and Nafas Co-Founder & Chief Growth Officer
Piotr Jakubowski
. Plana is a social enterprise (SE) that focuses on processing plastic waste into a new material, Plana Wood, a durable natural wood alternative that can be used as a building material. Meanwhile, Nafas provides Air Quality Index (AQI) data to raise public awareness about air pollution and encourage policy changes.
Recently, the two SEs along with two other Indonesian SEs, Magalarva and Liberty Society, received S$710,000 (IDR8.2 billion) in grants from DBS Foundation (DBSF) Business for Impact Grant Award Program 2023. The grants were used to increase positive impact and inspire others to join the fight for a more sustainable future.
DBS Asian Insights Conference is an annual conference organized by DBS Bank Indonesia to bring together global leaders to discuss the opportunities and challenges of change in Indonesia. The conference is expected to turn concerns into concrete actions and strategic decisions regarding the future direction of businesses.
For more information on DBS Asian Insights Conference 2024, visit Instagram
@dbsbankid
and watch the replay on
Bank DBS Indonesia's YouTube channel
.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named
“World’s Best Bank”
by Global Finance,
“World’s Best Bank”
by Euromoney and
“Global Bank of the Year”
by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named
“World’s Best Digital Bank
” by Euromoney and the world’s “
Most Innovative in Digital Banking”
by The Banker. In addition, DBS has been accorded the
“Safest Bank in Asia
“ award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as
World’s Best Bank in Indonesia
for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia
is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit
www.dbs.com
.
DBS Bank Ltd | 12 Marina Boulevard, DBS Asia Central @ Marina Bay Financial Centre Tower 3,
Singapore 018982 | Co. Reg. No. 196800306E
Tel: 65.6878 8888 | www.dbs.com
