Jakarta. Chief economic affairs minister Airlangga Hartarto recently presented investment opportunities for sustainable infrastructure projects at a recent Indo-Pacific Economic Framework (IPEF) forum in Singapore.

According to Airlangga, Indonesia is offering 21 green sustainable infrastructure projects at the IPEF conference. About 19 of the projects are still in the pipeline, while the two others are ready.

“Those two ready projects are a green refinery project in Cilacap, and another green refinery in Plaju, South Sumatera. Both projects are worth $860 million, respectively,” Airlangga told the forum, as he was quoted as saying by a recent ministerial press statement.

Airlangga also revealed how much the country would need to meet its carbon reduction targets. Indonesia needs an estimated $281 billion in investments to meet its enhanced nationally determined contribution climate target.  “The needed investments can go up to $1.1 trillion for Indonesia to reach net zero emission by 2060,” Airlangga said. 

Airlangga also said that Indonesia had also developed a strategy to support green investment through a number of financing alternatives such as green bonds, green sukuk, green taxonomy, and carbon pricing. Indonesia is also doing work together with the Japanese government through the Just Energy Transition Partnership (JETP) scheme, which has secured $20 billion in funding.

Indonesia is also collaborating through the ASEAN Zero Emission Community (AZEC) with a $500 billion funding involving flagship projects such as the Muara Laboh geothermal project with a capacity of 80 megawatt and the waste-to-energy plant in Legok Nangka with a capacity of 35MW-40MW.

"Indonesia also provides policy support for special economic zones and the Job Creation Law," Airlangga said.