Online Reporting Tool

National Target

General

Government

Indonesia

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National Target 18. Enhancing Transparency of the Private and Financial Sectors in Biodiversity Management and Reducing Negative Impacts of Business Operations on Biodiversity

Description

Private and financial sectors play an important role in managing biodiversity, especially in aligning business operations with biodiversity aspects. Transparency in the private and financial sectors is essential to ensure how companies mitigate the negative impacts from business operations and/or align their biodiversity management actions with national biodiversity policy directions. National Target 18 (NT 18) can be measured through the achievement of one indicator and is implemented through one action group.

The entities that will support the achievement of NT 18 are the Financial Services Authority (OJK), the Ministry of Environment (KLH/BPLH), the Ministry of Forestry (Kemenhut), the Ministry of Agriculture (Kementan), the Ministry of Marine Affairs and Fisheries (KKP), the Ministry of Energy and Mineral Resources (Kemen ESDM), the Ministry of National Development Planning (Bappenas), the Ministry of Finance (Kemenkeu), the Ministry of State-Owned Enterprises (Kementerian BUMN), Bank Indonesia (BI), private sectors, and non-state actors.

Please outline the main policy measures or actions that will be taken to achieve this national target.

18.1. Enhancement of biodiversity management disclosure by the private sector and financial institutions

Alignment

Contribution to global Goals

GBF-G-D. The biodiversity funding gap of 700 billion USD is progressively closed by ensuring adequate means of implementation are available.

Alignment with global targets

Global Targets

Degree of Alignment

GBF-T15. Businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impacts

Medium

Which of the “considerations for implementation” in Section C of the GBF have been taken into account in developing this national target, and the actions to implement it

Access to financial resources

Biodiversity and health

Collective effort towards the targets

Consistency with international agreements or instruments

Contribution and rights of indigenous peoples and local communities

Cooperation and synergies

Different value systems

Ecosystem approach

Formal and informal education

Fulfilment of the three objectives of the Convention and its Protocols, and their balanced implementation

Human rights-based approach

Gender

Intergenerational equity

National circumstances, priorities and capabilities

Principles of the Rio Declaration

Right to development

Whole-of-government and whole-of-society approach

Science and innovation

Please explain how these considerations have been taken into account

The implementation of the target consistently be guided by the vision, mission, and principles outlined in the Indonesia Biodiversity Strategy and Action Plan (IBSAP) and National Long Term Development Plan (RPJP), which broadly align with all components of Section C of the KM-GBF.

Explanation, including which aspects of the goal or target are covered

Most of the target elements have been covered. Although the timeline of Indonesia to achieve the target is 2045 according to National Long Term Development Plan, instead of 2030 as outlined in the KMGBF targets.

Indicators to be used to monitor this national target

Headline indicators

15.1 Number of companies disclosing their biodiversity-related risks, dependencies and impacts

D.1 International public funding, including official development assistance for conservation and sustainable use of biodiversity and ecosystems

D.2 Domestic public funding on conservation and sustainable use of biodiversity and ecosystems

D.3 Private funding (domestic and international) on conservation and sustainable use of biodiversity and ecosystems

Binary indicators

15.b Number of countries with legal, administrative or policy measures aimed at encouraging and enabling business and financial institutions, and in particular for large and transnational companies and financial institutions, to progressively reduce their negative impacts on biodiversity, increase their positive impacts, reduce their biodiversity-related risks and promote actions to ensure sustainable patterns of production

Other national indicators

18.a. Percentage of companies and financial institutions reporting on biodiversity and environmental management

Means to implementation and barriers to implementation

Please indicate if additional means of implementation are needed for the attainment of this national target.

Yes (Additional means of implementation are needed for the attainment of this national target)

Please explain (Additional means of implementation are needed for the attainment of this national target)

Indonesia requires further capacity building related to the implementation of this target