Indonesian Diaspora Community Launches in New York with Forum on Indonesia's Green Investment Future

NEW YORK, April 24, 2026 — SANARA (Sustainability Network of Nusantara) officially launched today at the Consulate General of the Republic of Indonesia in New York, hosting a public forum on Indonesia's green investment future alongside the Sustainable Investing Research Initiative (SIRI) at Columbia SIPA. The afternoon brought together 40 to 50 professionals, researchers, and investors for two panel discussions on what it will realistically take to move Indonesia's energy transition from ambition to execution.

The policy gap is real, and so is the opening

Former Indonesian Finance Minister and current National Economic Council member Dr. Chatib Basri set the tone for the first session. "The investment in renewable energy will only work if we get the price right," he said. "With fossil fuel subsidies continuing, there's not much incentive for renewable energy." His prescription was direct: phase out fuel subsidies, which he described as a triple win for climate, the poor, and the macroeconomy, and cut bureaucratic friction. "Do economic deregulation. I call it a stimulus without fiscal costs."

Ana Maria Camelo Vega of Columbia's Center on Sustainable Investment pushed back on how Indonesia's risk is being measured. "The perceived risk is actually way higher than the actual risk," she said. "Sovereign ratings are not always accurate. We need more granular measurements grounded in local reality." Prof. Zongyuan (Zoe) Liu, IGP Senior Research Scholar at Columbia SIPA and author of Sovereign Funds, added that good policy design is not the binding constraint. "How to ensure government can deliver and manage the unintended consequences probably matters more than what kind of policies you want to pursue."

Dr. Nnamdi Igbokwe, Director of Blended Finance at Columbia's SIRI, argued the financing approach itself needs to shift. "You can no longer look at blended finance deal-by-deal," he said. "It needs to start building the market, leaving trails behind for each transaction so that the market can learn and build on its own."

On the ground, the gap looks different

The second session moved from macro to street level. Tessal Maharizky Febrian, Director of Indonesia's Investment Promotion Center in New York, pointed to real regulatory progress, including the Omnibus Law, the Online Single Submission system, and a 2025 regulation that auto-issues licenses once a ministry's review window closes. He was clear the message still needs to reach investors consistently. "We need to be on the same page. Indonesia is very prospective, and this is the right time."

Rizka Gita Miranti, Chairwoman of HIPMI Institute, gave the most grounded read of the afternoon. "The opportunity for sustainability is super big," she said, "but the sad reality is that many local entrepreneurs, especially outside Jakarta, might not be ready to grab that investment yet. That's the gap we're trying to close." Her organization works to bridge it through capacity building, international education partnerships, and an investment-readiness program that curates businesses for investor matching.

Yemima Silitonga of Indonesia Financial Group brought the financier's view on what actually gets funded. "Not all capital is the same," she said. "The challenge is not only attracting investors but finding alignment between your project and their objectives." Revenue stability, long-term buyer relationships, and ESG compliance all factor in, often before policy considerations even enter the conversation.

The event also recognized delegates from the Makassar City Government, winners of the World Resources Institute RISE program in health and urban planning, a reminder that the conversation happening in New York has direct stakes on the ground across the archipelago.

About SANARA

SANARA (Sustainability Network of Nusantara) is a community of 180+ Indonesian young professionals and students based primarily in the United States, affiliated with institutions including Columbia, Stanford, Cornell, and Carnegie Mellon. It operates across five program pillars: Community Activation, People Development, Media and Public Engagement, Sustainable Partnership, and Research and Advisory.

Linkedin: SANARA Indonesia

Instagram: @sanara.indonesia