The Global Blended Finance Alliance (GBFA) is expected to lay the foundation for transformative change and future knowledge, accelerating value creation and investment in key economic sectors. This was stated by Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Panjaitan, at the G20 Bali GBFA Dialogue on Natural Capital, Communities, and Climate Action for a Better Business and Better World, held at UID Bali Campus, Bali, on Sunday, May 19, 2024. Minister Luhut highlighted that the primary economic sectors include energy, forests, the blue economy—such as mangroves and seagrass, health infrastructure, and sustainable tourism, particularly through the Just Energy Transformation Partnership (JETP) scheme.
The world's attention is currently on Indonesia, which must serve as an exemplary model for equitable energy transition, balancing economic development, social justice, and environmental management. "I welcome the launch of the Happy Energy Action Leadership (HEAL) program in collaboration with the United in Diversity Foundation and the Rocky Mountain Institute as part of the GBFA outcomes to enhance capacity," Minister Luhut continued. Initiatives like JETP, he explained, need strong stakeholder alignment not only on technical aspects but also relational ones, encouraging participation in HEAL to utilize this opportunity for collaborative learning in addressing challenges. The Indonesian government is collectively working to identify innovative solutions and multi-faceted approaches to meet funding needs and policy requirements, ensuring a holistic and just transition. "GBFA is not only a solution for addressing the energy transition, but Indonesia is also leading in forest and mangrove conservation as part of Nature-Based Solutions for climate action," concluded Minister Luhut.
