Tri Hita Karana is a Balinese philosophy denoting the three ways to happiness through attaining the harmonies of people with people, with nature, and with the spiritual.
Harmony of people needs social basic issues addressed such as poverty, education, health, clean and affordable energy, sanitation, water, economic, work, industry and infrastructure growth, and last but not least inequalities including gender.
Harmony with nature seeks that we address sustainability challenges in urbanization, production and consumption cycle, climate change, and biodiversity.
Harmony with the spiritual calls for our inner strength and faith to bridge peace and collaboration within an across sectors as well as countries.
THE 2ND TRI HITA KARANA FORUM FOR SUSTAINABLE DEVELOPMENT
Blended Finance and Innovation for Better Business Better World
Innovative financing solutions are the path to productive infrastructure investment enabling emerging economies to address climate change and the sustainable development goals. Meeting the goals requires generating an additional $2-3 trillion a year to meet global infrastructure goals according to the Business Sustainable Development Commission (BSDC) and UN Sustainable Development Solutions Network (SDSN).
Indonesia, as a leading G20 emerging market economy, is taking on this challenge in the lead up to hosting the IMF World Bank Annual Meetings in October 2018 in Bali. President Joko Widodo will preside over the second Tri Hita Karana International Conference on Sustainable Development jointly organized with leading business and civil society organizations. The theme will be Blended Finance and Innovation for Better Business Better World.
ROAD TO THE FORUM
The planned Roadmap to the Forum will include:
- Leading edge commissioned reports on finance and the SDGs with on going stakeholder engagement. It is also planned that the research will deliver applied examples both for Government of Indonesia SDG investment and private sector social impact investors in Indonesia.
- Commissioned research and engagement will go through a process and be in tandem with various streams working on blended finance and key meetings: some important time lines (UNGA Sept 2017, AM Oct 2017, ICC meetings, BSDC fora, Davos early 2018) before AM 2018.
- In close coordination with Government of Indonesia to explore how findings in each of these aspects of SDG financing can be transformed into concrete development efforts in Indonesia.
- The Forum is hoped to be launching principles, standards, platform for blended finance and innovation that can be replicated, and pilot or concrete projects in Indonesia which achieves development and sustainability.
- The Government of Indonesia can benefit from financial instruments for pursuing the SDGs and three dimensions can be supported by commissioned research:
- Support development of a green bond market: the regulatory framework for adopting global best practice on green bonds and benefiting from the experience of other countries.
- As a public borrower, it could develop its own issuance of green bonds or other innovative financial instruments.
- As an investor, it could look to align its infrastructure investments with the SDGs that would provide vehicles for green investors to support: list of priority infrastructure projects that are candidates for new funding sources that are aligned with the SDGs. The research could provide templates of innovative financing solutions for these priority projects drawing on global experience as well as innovation.
The Government of the Republic of Indonesia
International Chamber of Commerce
The International Chamber of Commerce (ICC) is the world’s largest, most representative business organization in the world, with over six million businesses in more than 130 countries spanning every sector of private enterprise. The ICC is chaired by Sunil Mittal of Bharti Group and the Secretary General is John Danilovich, a respected former US diplomat and Ambassador. The ICC has three main activities: rule setting, dispute resolution, and policy advocacy. The ICC lobbies the United Nations, the World Trade Organization, and many other intergovernmental bodies, both international and regional, such as G20 on behalf of international business. The ICC was the first business organization granted general consultative status with the United Nations Economic and Social Council and UN Observer Status. For more information, please visit https://iccwbo.org/
Business and Sustainable Development Commission
The Business and Sustainable Development Commission (BSDC) brings together leaders from business, finance, civil society, labour, and international organizations, with the twin aims of mapping the economic prize that could be available to business if the UN Sustainable Development Goals are achieved, and describing how business can contribute to delivering these goals. BSDC is chaired by Lord Mark Malloch Brown, former UN Deputy Secretary General and member of the British cabinet. The Commission published its flagship report “Better Business Better World” offering a compelling alternative to the status quo of doing business. According to the report, by adopting sustainable development practices, companies can unlock $12 trillion in business opportunities, of which 40% ($5 trillion) can be found in Asia alone. For more information, please visit http://businesscommission.org/
UN Sustainable Development Solutions Network
UN global initiative Sustainable Development Solutions Network was launched by former Secretary-General Ban Ki-moon in 2012 to mobilize global scientific and technological expertise to promote practical problem solving for sustainable development, including the design and implementation of the Sustainable Development Goals (SDGs). The SDSN is committed to supporting the implementation of the SDGs at local, national, and global scales. The organization and governance of the SDSN aims to enable a large number of leaders from all regions and a diverse backgrounds to participate in the development of the network, while at the same time ensuring effective structures for decision making and accountability. The SDSN Secretariat is hosted by the SDSN Association and has offices in Paris and New York. For more information, please visit http://unsdsn.org/
United In Diversity Foundation
United In Diversity (UID) Foundation’s mission is to create a better common future through education and sustainable development. Over the past decade, UID partners with MIT Sloan for the IDEAS Leadership Action Learning program with Tsinghua University, University of Indonesia and other learning institutions to promote innovation and sustainable solutions through the three harmonies of people with people, with nature and with the spiritual aligned with the SDG Pyramid (Sustainable Development Goals Pyramid). UID is the Chair of SDSN Southeast Asia Chapter, and Co-Chair of SDSN Indonesia Chapter. UID is committed to promoting the United Nations’ Sustainable Development Goals and supporting the UN 2030 Agenda. More information can be found on http://www.unitedindiversity.org/uid/.
Government + Multilateral Agencies
Financial Institutions
Private / Sovereign Funds
Innovators / Technopreneurs
Think Tanks / NGOs
Industry Networks / Associations