Bandung (ANTARA) - The Bandung City Government is exploring a global-scale green investment partnership with the UK Government and the International Finance Corporation (IFC) to reduce greenhouse gas emissions by up to 22 percent by 2035.
Bandung Mayor Muhammad Farhan stated in a press release on Monday that investment opportunities in the climate sector could strengthen Bandung's position as a world-class investment destination.
"The opportunity to invest within this climate investment framework increases Bandung's chances of becoming one of the world's top investment destination cities," Farhan said.
Farhan noted that several sectors have potential for development through green investment, including waste management, the development of green and blue open space index concepts, air quality improvement, and the management of raw and groundwater.
He added that improving water quality could help achieve the long-term target of providing drinkable tap water, starting at least within the hospitality sector.
British Ambassador to Indonesia Dominic Jermey appreciated the collaboration and affirmed the UK Government's readiness to support Bandung as it enters the implementation stage.
"This report presents data-driven analysis on Bandung's climate resilience priorities while identifying various green investment opportunities in the city. We are thrilled to support Bandung's journey at this stage," Jermey said.
IFC Country Manager Euan Marshall explained that the findings of the City Climate-Resilient Infrastructure (CIOD) study highlight 28 strategic steps to reduce emissions in Bandung. Eight of these steps account for up to 90 percent of the potential emission reductions, such as energy efficiency, waste management, and the strengthening of public transportation.
Additionally, the IFC offered a public-private partnership (PPP) scheme to fund infrastructure projects, such as Bus Rapid Transit (BRT), waste-to-energy programs, and low-emission zones.
"2035 is closer than we imagine, so this target is indeed very ambitious. However, we must also dare to think big in order to take steps that will have a massive impact as well," Euan said.