In order to expand the implementation of green economy in West Java, the West Java Representative Office of Bank Indonesia, in collaboration with the West Java Provincial Government, organized the West Java Energy Forum (WJEF) which aimed to seek solutions and innovations to address various challenges related to green investment and financing in West Java.  The Head of Bank Indonesia West Java Representative Office, stated that the WJEF is a highly strategic forum. This aligns with the follow-up actions of the G20 Summit and ASEAN Chairmanship, which encourage countries worldwide to accelerate the energy transition and promote various innovations in the field of green energy to reduce global carbon emissions and foster sustainable economic growth.

This support includes the issuance of green bonds and the establishment of lower Loan-to-Value (LTV) ratios for green vehicles and properties. Additionally, at the spatial level, West Java is at the forefront of green economy implementation. The region possesses abundant potential for renewable energy, such as geothermal reserves, solar energy resources, wind power, water, and electricity. These various potentials for renewable energy require support through green investment and financing to create a new primary energy mix for West Java. Governor of West Java expressed that the world is currently facing an increasing demand for energy resources and Indonesia can take pride in being at the forefront of renewable energy in the world. Specifically, West Java possesses various potentials for renewable energy resources. Among them, the province is currently constructing the largest floating solar power plant in ASEAN, with a power generation capacity of 145 MW. West Java also boasts the largest plastic waste recycling plant in Indonesia, with a waste processing capacity of 24,000 tons per day. West Java has 12 renewable energy projects that require investments and green financing amounting to USD 82 million. The WJEF is an important forum to seek innovative approaches in addressing the challenges of financing green projects in West Java, in order to achieve Indonesia's Net Zero Emission target by 2060.

Source:
https://wartaekonomi.co.id/read505440/jawa-barat-perluas-investasi-dan-pembiayaan-hijau