Earth Security, in partnership with the Indonesia Business Council for Sustainable Development and the Indonesian Chamber of Commerce and Industry (KADIN), involving Indonesian banks, insurance companies and investors in considering a series of product, strategy and policy innovations to support the trend of corporate commitments towards sustainable palm oil, including the KADIN-led business pledges to zero deforestation in Indonesia.
A 1-day workshop is being organised at one of Indonesia’s leading commercial banks, Bank Negara Indonesia (BNI), which will convene key leaders from finance, business and policy for a focussed discussion on an Earth Security market intelligence brief of financial sector innovation opportunities relating to new areas of credit, biofuel investment risks and insurance premium innovation that can tap into Indonesia's growth markets while promoting sustainable palm oil.
The workshop will focus on discussing an innovation agenda designed by Earth Security, which evolves around three areas of opportunity where the projected growth in Indonesia’s financial markets will shape the palm oil sector further. These provide a rationale for build sustainable palm oil criteria into the products and strategies that financial institutions will use when playing into the projected growth of the Indonesian insurance sector in response to weather extremes; the projected growth in biofuel investments in response to the increase in the country biofuel targets; and new areas of credit to smallholders and small to medium enterprises by commercial banks.
In collaboration with IBCSD and KADIN, Earth Security will follow up the workshop's recommendations and innovation opportunities to continue to support the development of financial policies, insurance products, and investment priorities. The first stage of this project has the support of the UK Prosperity Fund South East Asia and the British Embassy in Indonesia.
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