Media Release
21 May 2025
Indonesian and Australian Government officials met in Jakarta this week to strengthen cooperation on climate-related financial policy and regulation.
The second Australia-Indonesia Sustainable Finance Deepening Program brought together key institutions including Indonesia’s Financial Services Authority (OJK), Ministry of Finance, Bank Indonesia, and Australia’s Treasury, Prudential Regulation Authority (APRA), Securities and Investments Commission (ASIC) and Reserve Bank.
During the workshop, participants shared progress on each country’s sustainable finance agendas, including the development of sustainable finance taxonomies, a tool to encourage investment in sectors to help reach net-zero emissions goals.
They also discussed approaches to climate-related financial disclosures, climate vulnerability assessments in the banking and insurance sectors, greenwashing prevention, and opportunities for international engagement and collaboration.
“This Sustainable Finance Deepening Program presents a significant opportunity to strengthen Australia’s relationship with Indonesia and enhance collaboration on sustainable finance, particularly regarding climate-related financial policy and regulation,” said Suzanne Smith, Head of delegation and Executive Board Member at APRA.
The workshop follows last week’s joint statement by Indonesian President Prabowo and Australian Prime Minister Anthony Albanese welcoming the ‘economic opportunities of the global net zero transition, including to increase investment, create jobs, drive sustainable growth and increase energy security’.
The Australia-Indonesia Sustainable Finance Deepening Program is supported by KINETIK, the $AU200 million Australia-Indonesia Partnership for Climate, Renewable Energy and Infrastructure, which supports a just energy transition and green economic growth across the archipelago.
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