Various sources of funding needed for environmental management: Ministry

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We cannot rely solely on the government budget and conventional sources of funding

Jakarta (ANTARA) – Funding for environmental management and encouraging sustainable development as part of the climate management strategy requires various sources, said Laksmi Dhewanthi, director general of climate change management at the ministry. Environment and Forests.

“We cannot rely solely on the government budget and conventional funding sources,” Dhewanthi noted during the STOCKHOLM +50 virtual town hall on Monday.

“We need other sources, other funding,” she said.

In a discussion on mobilizing resources to support environmental protection, she explained that resources outside of government, such as entrepreneurs, the capital market and people, are needed to encourage sustainable development.

In addition to resource mobilization, understanding and planning are deemed necessary to achieve the climate target which had been set based on the required resources, Dhewanthi said.

“This fundraising strategy is not just a strategy to get as much money as possible but also to get or prepare a business plan design and fundraising plan,” she explained.

“We need to make sure we know exactly what we need and know precisely how to measure the achievement of those goals,” she added.

In addition, specific partners or funding sources are needed.

Several strategies for meeting demand for environmental protection and management include strengthening fiscal policy, enhancing the attractiveness of private investment, developing innovative financing instruments, such as sukuk green (Islamic bonds), and improving access to global finance.

These strategies must be combined not only by the government but also by all stakeholders.

Indeed, all parties must make efforts to preserve and manage the environment as well as to achieve the Sustainable Development Goals.

“Hopefully we can all continue to collaborate and cooperate to mobilize various kinds of resources that we need to use to achieve these goals,” Dhewanthi said.

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