IGCN Annual Members Gathering - Resident Coordinator's Speech, Gita Sabharwal

I am delighted to address you as we work together on the private sector’s contributions to Indonesia’s sustainable development in line with President Prabowo’s vision for a high growth trajectory.

In his address to the UN General Assembly last month, the President highlighted the Government’s goal to “make Indonesia a hub for solutions to food, energy, and water security” while leaving no one behind.

As captains of industry, your leadership is critical to realizing this vision and transforming Indonesia into a beacon of prosperity, sustainability, and inclusion in the region and globally. 

We at the UN are committed to deepening our partnership with the IGCN as you continue stepping up your green transformations.It has been two decades since IGCN was founded. Now is the time to raise our collective ambition together with the founding members, advisors and the board.

The platform already brings together over 170 private sector players, employing nearly 600,000 people, and representing total capital of $263 billion. 

Going forward, as IGCN’s membership grows we can take sustainable development truly to scale across Indonesia. 

This is critical as sustainable development is everyone’s business, particularly now in the face of climate and geopolitical dynamics that impact us all.

Among the challenges are fiscal strains on governments.

Indonesia’s SDG financing gap currently stands $1.7 trillion, that cannot be bridged with public resources alone. 

This makes it imperative for the private sector to mobilize capital at scale to finance business transformations in line with the SDGs. 

At the UN, we have deep experience in innovative financing, having mobilized $1.6 billion annually from sustainability-linked sovereign bonds.

Now, in partnership with you, we aim to replicate this success through corporate SDG bonds, blue bonds, and green sukuks to accelerate progress.

We will bring our cutting-edge expertise to bear on your SDG-related investment aspirations, reinforcing both sustainable development and your bottom lines.  

Equally important is to leverage green technologies across supply chains.

The UN Country Team is already supporting the private sector by deploying best available technologies to reduce GHGs in hard-to-abate sectors such as iron, steel and fertilizer.

Together with BRIN, the UN is also greening small-scale fishing boats.  

A pilot in Maluku is demonstrating how converting benzine boats to solar hybrids can boost livelihoods, reduce emissions, and lower environmental impacts at the same time.  

To scale this up nationwide, we are exploring partnerships with Sharia banks and private sector partners, to unlock additional financing and reach more coastal communities.

The aim is to have 800,000 small fishing boats retrofitted with hybrid technology – transforming livelihoods while contributing to Indonesia’s blue economy. 

Through your CSR initiatives, IGCN can play a pivotal role in fast tracking this transformation. 

Another cornerstone of Indonesia’s just transition is the mainstreaming of business and human rights.

This includes embedding human rights into corporate governance, enhancing transparency, and boosting gender equality - such as by appointing more women to corporate boards. 

IGCN provides technical assistance to its members to strengthen ESG principles in daily operations.

Going forward, as you raise ambition, you can lead by example for Indonesia’s private sector on responsible, purpose-driven business practices.

Transformative investments in vocational training will also be key to futureproofing the labour market while driving growth, innovation, and community resilience.

The time for incremental change has passed. 

Let us act boldly and invest wisely to turn sustainability into a strategic advantage for Indonesia’s private sector and its people.

The IGCN has a vital role to play in shaping a future that is inclusive, resilient, and prosperous. The decisions you make today will echo across generations. 

The UN stands ready to support your efforts, amplify your impact, and celebrate your success.

Thank you