Indonesia Strengthens Sustainability Finance and Carbon Market Agenda in Edinburgh

William Sabandar, COO of the Indonesian Business Council (IBC), was invited as a keynote speaker and a panelist at the Global Ethical Finance Initiative (GEFI). His participation highlights  IBC’s growing role as a leading think tank in sustainability finance and the digital economy in Southeast Asia. 

The engagements began with his participation in an  SDG Hive panel titled “The Trump Effect,” moderated by Amy Clarke, Chief Impact Officer at Tribe Impact Capital, alongside Hans Stegeman, Chief Economist of Triodos Bank. The panel discussion explored how the Trump administration represents a broader global tipping point that, while unfolding differently across regions, offers a challenge to the already slow progress of the Sustainable Development Goals (SDGs). In response to this global shift, panelists emphasized the urgent need to rethink the role of finance, calling for a return to its core purpose: serving people and the planet. Discussions covered key issues such as financial security, the concept of degrowth, and the need for more effective and equitable financing instruments. William highlighted systemic flaws in the global development framework, including the SDGs, arguing that today’s multipolar world presents a timely opportunity to critically reassess and potentially deconstruct the current model, while underscoring the importance of stronger collaboration between civil society, business, and government.

Following the panel, William delivered a keynote address to GEFI on the critical topic of "The Great Transition Challenge." The address outlined three major global trends: the shift from unilateralism to geopolitical multipolarity, the global transformation from an industrial economy to a green and digital economy, and the ongoing energy transition and climate change. William emphasized that while ASEAN faces significant climate risks, it is uniquely positioned as a laboratory for transition, thanks to its abundant renewable resources and a young workforce.

William also shared four key strategies Indonesia is pursuing to capitalize on the green transition: the Pentahelix Platform, which fosters collaboration among government, business, academia, and civil society to design actionable green growth strategies; the development of innovative funding schemes to support both green and blue projects; the creation of transparent and credible carbon markets to attract international investments; and the alignment of technological innovation with financial strategies to drive the transition.

To conclude his speech, William emphasized that ethical finance should be evaluated by actual capital flows, rather than commitments made. This crucial transition period will require stronger collaboration between developed and emerging economies. His presence and contribution throughout his engagements in Edinburgh further reinforced IBC's leadership in advancing sustainability finance as a critical pillar for shaping the future global economy.