Finance Minister Sri Mulyani Indrawati invited all parties, both stakeholders and the general public, to reduce carbon emissions in order to prevent climate change in the future.
While delivering her remarks at the HSBC Summit 2022 Powering the Transition to Net Zero followed here on Wednesday, Indrawati emphasized that all parties should support the commitment of the Indonesian government and other countries’ governments to efforts to reduce carbon emissions.
Indrawati noted that through the Paris Agreement, the government had committed to reducing carbon emissions by 29 percent through its own efforts and by 41 percent with international support by 2030 in a bid to prevent climate change.
“For us to achieve the implementation of Indonesia’s ambitious long-term strategy for low-carbon and climate resilience, we definitely need real support. This is very dependent on the support of all stakeholders and cannot only rely on the government’s own resources,” she explained.
The minister noted that climate change will cause droughts, floods, storms, and sea level rise; thus, it can later have a direct impact on the environment, society, and economy.
Indrawati further said that the increase in greenhouse gas emissions by 4.3 percent annually from 2010 to 2018 had caused the sea levels in Indonesia to increase by an average of 0.8 to 1.2 centimeters (cm) per year.
The minister estimated the potential economic losses caused by climate change can reach 0.62 up to 3.45 percent of the gross domestic product (GDP) in 2030.
“Economic losses due to the climate crisis will reach 0.5 percent of the GDP next year (2023), and the impact on humans and ecosystems around the world will be more significant,” she remarked.
The former World Bank Managing Director stated that the government had allocated a budget of Rp89.6 trillion, or 3.6 percent of the total government spending, on climate change mitigation and adaptation actions every year.
Source: Antara News