On 13 September 2024, Tri Hita Consulting successfully held a second sustainability talk titled “Sustainable Finance Discussion: Implementing Climate Risk Management & Scenario Analysis (CRMS) from International Experiences.” This collaborative dialogue aimed to support Indonesia’s banking sector in complying with OJK guidelines. The event drew enthusiastic participation from the financial and non-financial sectors, with attendees eager to explore Indonesia’s adoption of CRMS guidelines. The session featured insights from international experts Rebecca Self and Joel Aymon from Seawolf Sustainability Consulting. The event was supported by Tri Hita Consulting’s Sustainable Finance Team, Julia Rahmi and Marya Tisnandya. The discussion focused on climate risk areas and challenges of CRMS implementation based on international practice. Rebecca shared international lessons learned such as: 1. in the EU region, taxonomy is being used for climate risk stress test (CRST); 2. the challenges that all banks have faced are that climate is not static and that Banks should avoid greenwashing practices but be transparent about their lack of data.
The participants from the Indonesian Bank KBMI 3 and 4 who have experience submitting their first OJK CRMS report for 2024 raised practical questions related to the implementation of OJK’s CRMS guideline. Some questions are on the connection between taxonomy and CRST and the impact of carbon tax policies and pricing on CRST. Rebecca and Joel provided some insights from international best practices. The questions and discussion are very relevant to CRMS implementation in Indonesia. The webinar ran smoothly with a high level of interaction demonstrating the growing commitment within the sector to address climate risks and promote sustainable finance practices.
Stay tuned for more insightful online events from Tri Hita Consulting, where we continue to discuss sustainability topics. Don’t miss the opportunity to be part of these important conversations!