MUFG and Danamon Host Inaugural MUFG Net Zero World (MUFG N0W) to Support Indonesia's Energy Transition

Press Release / 04 September 2024

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Masakazu  Osawa, Managing  Executive Officer and Chief Executive for APAC, MUFG Bank, Ltd. making  welcome  remarks  at  the  MUFG  N0W event    held    at    Raffles    Hotel,  Jakarta    on September 4, 2024. MUFG N0W in Jakarta was hosted by MUFG Bank. Ltd. and its strategic bank partner,   Danamon.   In   his   remarks,   Osawa emphasized   MUFG  commitment   to   support Indonesia’s net zero emission agenda. As one of Indonesia’s leading financial groups, MUFG and Danamon  will  continue  to  mobilise  the  public and    private    sector    towards    the    country’s transition.

With  the  theme  “Strengthening  Momentum  – Indonesia’s Transition to Net Zero,” MUFG N0W featured Juda Agung, Deputy Governor of Bank Indonesia  as keynote speaker  (center).  During his   keynote   speech,   Juda   Agung   said   “As Indonesia  takes  significant  strides  towards  net zero emission, the role of our financial sector is crucial in driving this transformation. There are 4   key   strategies   for   banks   to   support   this transition:  clear and  objectives  targets, integrating  climate  risk  into  core  operations, expanding   sustainable   finance   offerings,   and strengthening  governance  and  accountability. The climate  transitions    are    not    only    the environmental   imperative, but   also   strategic opportunity for Indonesia    Financial    Sector. Banks  have  a  crucial  role  to  take  part  in  this transformation.” 

Parjiono,  Assistant  to  Minister  of  Finance  for Macro   Economy   and   International Finance, Ministry  of  Finance  (left)  joined  a  leadership dialog  session  during  MUFG  N0W  (Net  Zero World) hosted by MUFG Bank and Danamon on September  4,  2024,  at  Raffles  Hotel,  Jakarta. During the leadership dialogue Session, Parjiono spoke  with  Country  Head,  Indonesia,  MUFG Bank,    Kazushige    Nakajima    (right)    on   the importance of establishing the proper policy and regulatory frameworks in support of Indonesia’s 2060 Net Zero target. 

The  first  panel  discussion  “Indonesia’s  Energy Transition:   Financial   and   Policy Imperatives” included speakers: (left to right) Sahid Junaidi – , Secretary      Directorate      General      of      New Renewable   Energy   and   Energy   Conservation, Ministry  of  Energy  and  Mineral  Resources;  , Abdul   Kudus   -   Vice   President   of   Financial Planning, PT. PLN (Persero); Alice Carr, Executive Director,  Public  Policy  and  JETPs,  GFANZ,  Paul Butarbutar,    Deputy    Head,    JETP    Indonesia Secretariat,  and  Michael  Sugirin,  Head  Global Corporate  &  Institutional  Banking,  Indonesia, MUFG as the moderator.

This   panel   explored   the   required   steps   to enhance  policy  frameworks,  and  how  to  align these  with  corporate  business  strategies.    The panelists discussed the roles of JETP, GFANZ and how policy support can enhance the commercial attractiveness and viability of technologies and energy sources from geothermal, bioenergy, to co-firing   and  CCUS,   in   supporting   regional decarbonization. 

Sunar Basuki, Operational Director, Permodalan Nasional Madani (PNM) (second from left) and Herry    Hykmanto    Director    of    Sharia    and Sustainability  Finance  Danamon  (second  from right)  discussed  the  significant  impact  of  the PNM   MEKAAR   program towards   improving underprivileged     women's      livelihoods      and empowering ultra micro and micro entreprises in the  community.  These  efforts  aim  to  reduce poverty and provide employment opportunities to   accelerate   the   growth   of   the   Indonesian economy, and to create a just transition for the country.

MUFG  N0W’s  panel  “From  Plans  to  Actions  – Implementing Net Zero in Corporate Roadmaps” presented    various    speakers    (left    to    right) Suripno,       Vice       President Sustainability, PT.Pertamina      (Persero);      Andrew      Nasuri, Director, Indomobil; Kenichi Ishikawa - President Director, PT Summit Niaga;  Tomohiro Ishikawa, Chief  Regulatory  Engagement  Officer,  MUFG, and  Herry  Hykmanto,  Director  of  Sharia  and Sustainability Finance,     Danamon     as     the moderator.

This  panel  explored  how  the  financial  sector  is pivotal   in  supporting Indonesia’s  energy transition,   through  active  stakeholder engagement and the deployment of sustainable finance. 

Daisuke  Ejima,  President  Director  of  PT  Bank Danamon Indonesia Tbk (Danamon) closed the MUFG N0W event by reiterating that MUFG and Danamon  remains  committed  in  strengthening its  partnership  as  one  of  Indonesia’s  leading financial groups to support Indonesia’s net zero goal by 2060.

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