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Progress Against Pillars and Sub Pillars
This graphic can also be found within this country’s 2019 Country Progress Report.
Framework Documents
Country | Policies/ Principles/ Guidelines | Year | Issuer |
---|---|---|---|
Indonesia | 2022 | Indonesia Financial Services Authority (OJK) | |
Indonesia | 2021 | Indonesia Financial Services Authority (OJK) | |
Indonesia | 2021 | Indonesia Financial Services Authority (OJK) | |
Indonesia | 2021 | Indonesia Financial Services Authority (OJK) | |
Indonesia | 2020 | Government of Indonesia | |
Indonesia | 2017 | Indonesia Financial Services Authority (OJK) | |
Indonesia | Regulation on the Issuance and the Terms of Green Bond (No. 60/POJK.04/2017) | 2017 | Indonesia Financial Services Authority (OJK) |
Indonesia | Regulation on application of Sustainable Finance to FSI, Issuer and PLC | 2017 | Indonesia Financial Services Authority (OJK) |
Indonesia | 2017 | Indonesia Financial Services Authority (OJK) | |
Indonesia | 2014 | Indonesia Financial Services Authority (OJK) |
Strategic Development - Alignment with global E&S standards and best market practices
S1.1 – Does the framework make reference to international E&S targets (SDGs, Paris Agreement, Global Compact)?
Yes
S1.2 – Does the framework make reference to established international E&S risk management standards (IFC PSs, EPs)?
Yes
S1.3 – Does the framework make reference to established international sustainability reporting standards (GRI, SASB)?
Yes
S1.4 – Does the framework make reference to established international climate finance reporting standards (TCFD)?
No
S1.5 – Does the framework ask to make E&S policies, practices and results externally verified (assurance, independent review)?
Yes
Strategic Development - Multi-stakeholder collaboration
S2.1 – Does the framework involve interagency collaboration between financial supervisors/regulators, industry association, and FIs?
Yes
S2.2 – Does this collaboration also include other public agencies (e.g., environmental agencies, ministries)?
Yes
S2.3 – Does this collaboration also include representatives of civil society (e.g., NGOs, associations, media)?
Yes
Strategic Development - Alignment to NDCs and with National or Regional Climate Change Targets
S3.1 – Is the framework aligned with national NDCs or other national and regional policies on climate?
Yes
S3.2 – Has the SBN member identified the main climate risks (transition/physical) for their local financial sector?
No
ESG Integration - Governance of E&S
E1.1 – Does the country policy require one of the FI’s governing bodies (e.g., Board of Directors, Executive Committee, Supervisory Board, etc.) to approve an E&S strategy?
Yes
E1.2 – Does the policy require management to report on E&S strategy implementation to the governing bodies?
Yes
E1.3 – Does the policy require FI operational bodies to report to the governing bodies (or specific Board committee) on implementation of the E&S strategy?
No
Organization
E1.4 – Does the framework ask FIs to define E&S roles and responsibilities?
Yes
E1.5 – Does the framework highlight the E&S roles of front office staff and second lines of defense (e.g. risk officers and/or compliance officers)?
No
Yes
E&S Risk Management
E&S Policy
E2.1 – Does the framework ask FIs to formalize an E&S or ESG policy?
Yes
E2.2 – Does the framework encourage FIs to go beyond E&S requirements of local laws and regulations?
No
E2.3 – Does the framework ask FIs to set E&S objectives and targets?
Yes
E2.4 -Does the framework ask FIs to publicly disclose their E&S policy and its governance?
Yes
Risk Assessment
E2.5 – Does the framework require FIs to carry out appropriate E&S due diligence at transaction level?
No
E2.6 – Does the framework require FIs to carry out appropriate E&S due diligence at client level?
Yes
E2.7 – Does the framework encourage FIs to categorize projects/clients according to their level of E&S risk?
Yes
E2.8 – For high-risk transactions, does the framework encourage site visits to be organized?
No
E2.9 – In case of negative E&S impacts, does the framework invite FIs to engage with clients to implement mitigation measures?
No
E&S Covenants
E2.10 – Does the framework ask FIs to incorporate E&S covenants and investment conditions into legal agreements with clients?
No
Project Supervision & Portfolio Review
E2.11 – Does the framework ask FIs to develop processes to manage E&S risks during supervision?
No
E2.12 – Does the framework encourage a periodic review of E&S risks at aggregate portfolio level?
No
Training
E2.13 – Does the framework ask FIs to develop and maintain E&S capacity through regular training?
Yes
E2.14 – Does the framework highlight the training of (i) front office staff, (ii) second lines of defense (risk officers and/or compliance officers), and (iii) E&S experts?
Yes
External Communication Mechanism
E2.15 – Does the policy require FIs to establish and maintain an inquiry/complaints/grievance mechanism in relation to E&S or ESG practices?
Yes
E & S Reporting
E2.16 – Does the policy require FIs to report regularly on E&S or ESG performance, including publicly, to investors or to regulators?
Yes
E2.17 – Does the policy make E&S or ESG reporting and disclosure more consistent across financial institutions through principles, guidelines, or templates?
Yes
E & S Integration - Enforcement
E3.1 – Is the implementation of the framework regularly verified or is information regularly collected from FIs?
Yes
E3.2 – Is there any financial and/or non-financial incentive for establishing ESRM systems?
No
E3.3 – Are there sanctions/penalties/warnings in case of noncompliance with the framework?
Yes
Climate and Green Finance - Products and Services
Defining sustainable assets and financial products
C1.1 – Does the framework provide definitions and examples of green assets?
Yes
C1.2 – Does the framework provide a comprehensive taxonomy of green assets?
No
C1.3 – Does the framework provide definitions, examples, or a taxonomy of social and/or sustainable assets?
Yes
C1.4 – Besides debt products (loans, bonds), does the framework provide definitions and examples of different types of sustainable finance products/services (e.g., saving accounts, means of payment, insurance, private equity, etc.)?
Yes
Green Finance Product Guidelines
C1.5 – Does the framework provide guidelines for green loan/green credit or other green financial assets (excluding green bonds)?
Yes
C1.6 – Does the framework provide guidelines for issuance of green bonds?
Yes
C1.7 – Does the framework refer to existing standards (e.g., ICMA’s Green Bond Principles or CBI’s Climate Bonds Standard)?
No
C1.8 – Does the framework recommend external party verification (e.g., second party opinion, assurance, certification)?
Yes
Climate and Green Finance - Climate and Green Investment Reporting
Tracking and Disclosure of Climate & Green Finance
C2.1 – Does the framework ask FIs to report on climate/green finance flows (quantitatively or qualitatively)?
Yes
C2.2 – Does the framework ask FIs to report on climate risk exposure at portfolio level?
No
C2.3 – Does the framework encourage FIs to report publicly on their green finance activities (i.e. not only to the regulator)?
Yes
Climate and Green Finance - Measurement
Calculation of Environmental Benefits
C3.1 – Does the framework ask FIs to calculate the environmental benefits of their investments? (e.g., CO2 emission reduction, water saving, etc.)
C3.2 – Does the framework provide a taxonomy of potential environmental impacts?
No
C3.3 – Does the framework provide methodologies, tools, and/or templates to measure and report these impacts?
No
Climate Risk Exposure Assessment
C3.4 – Does the framework ask FIs to monitor climate risk exposure at portfolio level?
No
C3.5 – Does the framework refer to specific climate risk exposure methodologies (e.g., climate scenario analysis, climate risk stress testing, calculation of carbon risk exposure, tracking of energy efficiency for real estate portfolio)?
Yes
C3.6 – Does the framework encourage FIs to take mitigating steps on these risks?
No
Climate and Green Finance - Incentives
Financial and Non-Financial Incentives
C4.1 – Does the framework provide any type of incentives for green financial products and services?
Yes
C4.2 – More specifically, does the framework introduce financial incentives on green products and services?
No
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