IsDB President Addresses G20 High-Level Events

Bali, Indonesia, 14 November 2022– On the sidelines of the global events at G20 Summit, now underway in Bali, Indonesia, Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser addresses (3) high-level events on Energy Transition for Indonesia, Leveraging on Sukuk for Sustainable Finance, and Islamic Finance and Digitalization.

Addressing a side event on Just and Affordable Energy Transition for Indonesia, Dr. Al Jasser lauded the Government of Indonesia for its strong commitment to addressing climate change, through the launching of the Energy Transition Mechanism (ETM) Country Platform, noting that “this launch is very timely, particularly in the context of Indonesia’s historic G20 Presidency in 2022”. He further underscored the importance of energy transition as a key enabler of the implementation of sustainable development goals (SDGs).  Dr. Al Jasser reiterated the IsDB’s commitment to build member countries (MCs) resilience (renewable energy, adaptation and mitigation, and food security) and attain full alignment with the 2015 Paris Climate Agreement

Dr. Al Jasser stressed the need to foster global partnerships in achieving the energy transition to cleaner energy in a measurable, gradual and affordable manner. “The 2022-2025 Member Country Partnership Strategy (MCPS) with the Government of Indonesia strategically focuses on facilitating the green and sustainable development in Indonesia”.

Dr. Al Jasser confirmed IsDB Group’s readiness to collaborate, demonstrate leadership, and pioneer change in order to define the future of the energy system, and map out the net zero business and governance pathways. “We can also explore the leading technologies and solutions to access and accelerate the energy transition, not only in Indonesia but regionally and globally as well,” he concluded.

At another G20 event titled “High-Level Panel Discussion Leveraging on Sukuk for Sustainable Finance”, Dr. Al Jasser reiterated the IsDB’s Green Sukuk issuances as enabling instruments to help scale up sustainable finance to MCs. He lauded the Indonesia Ministry of Finance for its strategic efforts towards Retail Green Sukuk that has enabled citizens to fully participate in the economic development of their country. “The Bank is committed to help MCs drive green growth economy, that involves transition to low-carbon economies by prioritizing energy investments towards renewable sources. This will help our members progress towards their net-zero targets” Dr. Al Jasser stated.

In the same context, Dr. Al Jasser highlighted that “Islamic finance, with its unprecedented innovative digitalization, is a catalyst for supporting sustainable development in our member states”. The IsDB President made his remarks while addressing the “High-Level Seminar on Islamic Finance and Digitalization”.

Lauding the increased level of financial inclusion witnessed recently, Dr. Al Jasser also called for the full deployment of innovative financial technologies and formulation of appropriate policies to help reduce poverty and enhance shared prosperity. “Digital Islamic finance is well-positioned to economically empower our communities in member and non-member countries,” he said.