The award also aims to strengthen awareness of the importance of sustainability and its big impact on the future, and was first initiated by the Swiss-Indonesia Chamber of Commerce (SwissCham), Indonesian Chamber of Commerce and Industry (Kadin), the European Business Chamber of Commerce (EuroCham), the British Chamber of Commerce (BritCham), German-Indonesian Chamber of Industry and Commerce (Ekonid), Italian Business Association in Indonesia (IBAI), Indonesian-French Chamber of Commerce and Industry (IFCCI) and Trisakti University.

“Switzerland will continue to partner and support Indonesia's efforts to achieve sustainable economic development supported by Indonesia's skilled workforce. I invite all Swiss companies in Indonesia to collaborate and share knowledge with their Indonesian counterparts to jointly realize the Sustainable Development Goals,” said Swiss Ambassador to Indonesia and Timor Leste H. E Kurt Kunz.

"We are honored to be a part of this collective effort to raise awareness of the importance of sustainability for a better future for society, the environment and the economy," Vincent Piket, the European Union ambassador to Indonesia, said on the initiation of the B20 Sustainability 4.0 Awards, who echoed Kunz's statement on the need of joint efforts to further develop sustainability practices in business.

According to him, the Group of 20 and B20 could be an opportunity to demonstrate innovative sustainable development practices and share information on their development among G20 countries.

The awards event is expected to identify and recognize the high-impact sustainability projects of private businesses in Indonesia. It will focus on several issues, such as clean water, reduction and recycling, women empowerment, digital sustainability and carbon emissions.

One of its inventors, Kadin, is encouraging the adoption of environmental, social and good governance (ESG) values in the corporate world. More specifically, it is advocating for efforts to decarbonize and increase investment in environmentally-friendly business sectors, noting that investments in those that prioritize ESG are no longer optional for the future. Kadin recognizes that changing consumer, market and investor behavior requires ESG to be implemented and enforced by all stakeholders with full government support.

"Real action is needed, both from the public and private sectors to achieve the Sustainable Development Goals and decarbonization targets. Kadin initiated the formation of the Kadin Net Zero Hub, which is expected to be a common space to share insights, share information, share knowledge, share resources, share tools for companies, even MSMEs [micro, small and medium enterprises] that want to be involved in net-zero efforts," said Arsjad Rasjid, chairman of Kadin.

He added that he believed the implementation of ESG would bring added value to companies as long as it is managed properly. Kadin is expected to gather the participation of the entire private sector to become a catalyst for the net-zero emissions policy and will integrate it into the cycle of economic activities in order to contribute to decarbonization efforts. Moreover, all are encouraged to adopt new and renewable energy (NRE) to accelerate the energy transformation. This commitment is in line with the government’s mission to meet the target of 23 percent of the NRE mix by 2025.

The deputy chairperson of Kadin and coordinator for maritime affairs, investment and international relations, Shinta Widjaja Kamdani, who is also the chairperson of the B20 Organizer, said the Sustainability Awards aim to inspire more companies to adopt sustainable business, along with giving recognition to those that have adopted the new practices. This is in line with Indonesia's B20 goal, which is to promote a transition to net-zero for a greener and more sustainable world.

“As a forum for communication and consultation between Indonesian business actors and the national and international community, the Indonesian Chamber of Commerce and Industry strongly encourages the business world to take advantage of the B20 forum to develop productive and innovative solutions, as well as increase cooperation at the sectoral and cross-sectoral, national and international levels, as a contribution toward sustainable development,” said Sita.

She also showed her appreciation for MSMEs that had made positive transformation efforts to help further the goal of sustainability. MSMEs accounted for 61 percent of Indonesia's gross domestic product (GDP) and have the ability to employ as much as 97 percent of the national workforce.

MSMEs and individuals are eligible for the awards, based on their existing and foreseeable results and verifiable evidence and innovation in implementing sustainability. The three categories the awards will focus on are Women in Sustainability (SDG5), Improving Access to Clean Water (SDG6) and Reduction and Reuse of Plastic (SDG12).

"With many ongoing initiatives to advance environmental protection, diversity, equality and inclusion, as well as the digital economy in Indonesia, we hope to showcase works from unknown but impactful corners of Indonesia with the B20 Sustainability 4.0 Awards," said SwissCham board of management chairman Christophe Piganiol.

The B20 presidency of Indonesia will also launch a program called Global Center of Carbon Market Excellence, which aims to provide up-to-date information on global carbon market regulations so that stakeholders can support and guide the choices of the carbon market.

Moreover, it can also connect carbon credit buyers, sellers and investors as a networking forum to share experiences regarding decarbonization and carbon markets.

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