Jakarta, 29 September 2026 – Through the Sustainable Development Goals International Webinar Series, known as the UN SDG Webinar Series 2026, we connected the BINUS academic community with esteemed international sustainability experts, Prof. Johan Sulaeman from National University of Singapore (NUS) and Dr. Ishani Mukjerjee from Singapore Management University (SMU) as part of our commitment to co-creating the intelligent society.  

Held from 23-25 September 2026, the series centered on the theme “Digital Transformation and Sustainable Development: Opportunities and Challenges for Inclusive Growth.” Among the issues examined throughout the discussions was the growing urgency of climate action and the role that sustainability data, sustainable finance, and the energy sector play in supporting the transition toward a more sustainable future across Asia, particularly in Southeast Asia. 

If we talk about climate change, its impacts are already visible across the region through rising temperatures, flooding, droughts, and sea-level rise, resulting in significant economic and financial losses. These growing risks have reinforced the need for long-term solutions that not only reduce environmental impacts but also strengthen economic resilience. As a result, governments, industries, and communities are increasingly prioritizing the transition toward a lower-carbon economy. However, achieving this transition requires substantial investment and transformation across sectors. 

Addressing this challenge, Prof. Johan Sulaeman, Director of the Sustainable and Green Finance Institute and Dean’s Chair Professor in the Department of Finance at NUS Business School, emphasized the critical role of green finance in supporting the transition toward a lower-carbon economy. 

“By directing capital toward climate mitigation, adaptation, resilience, and lower-impact business activities, green finance can help economies navigate the transition while supporting long-term sustainability goals,” he explained. 

Meanwhile, a key challenge in advancing sustainable finance lies in the quality and consistency of sustainability data. Investors increasingly rely on environmental information to assess climate-related risks and opportunities, yet obtaining reliable data remains a concern across the region. 

Referring to research conducted by the Sustainable and Green Finance Institute involving around 1,000 listed companies across Indonesia, Malaysia, Vietnam, Thailand, Singapore, and the Philippines, Prof. Sulaeman emphasized discrepancies between sustainability information reported by companies and data available on financial-data platforms. In some cases, different data providers reported different figures for the same company, making it more difficult for investors to assess environmental performance and make informed investment decisions.  

“Sustainable finance depends on reliable sustainability data. When emissions and other environmental indicators are measured or reported differently, investors may face challenges in making informed decisions and directing capital to where it can create the greatest impact,” he added. 

Despite these challenges, the research suggests that financial markets are already incorporating environmental considerations into investment decisions. Using machine-learning techniques, the study found that companies with higher carbon emissions tended to receive lower market valuations, although the magnitude of this effect varied across regions. 

While sustainable finance can help accelerate climate action, reducing emissions ultimately requires changes in the sectors that generate them. Among these, the energy sector plays a particularly important role, given its contribution to global carbon emissions and its influence on economic and social development. 

Expanding access to affordable and reliable energy supports households, schools, businesses, and broader economic growth. At the same time, transitioning to cleaner energy sources can help reduce emissions and advance climate goals. Discussing these opportunities and challenges, Dr. Ishani Mukherjee, Associate Professor of Public Policy and Urban Fellow (Urban Governance) at Singapore Management University, highlighted that energy transition is not merely a technological issue, but also a social and economic one.  

Changes in energy systems can affect employment and livelihoods, particularly in regions that depend heavily on fossil fuel industries, while decisions on energy infrastructure have long-term implications for industries, cities, transportation systems, and public spending. For this reason, she emphasized that sustainability policies cannot be designed in isolation. Efforts to accelerate renewable energy adoption, for example, must be balanced with considerations of affordability, energy reliability, and workforce transition.  

“Effective energy policy requires balancing affordability, reliability, accessibility, and sustainability. While countries aim to reduce emissions and transition to cleaner energy sources, they must also ensure that energy remains accessible and dependable for communities and businesses. As improvements in one area can affect another, energy transition is ultimately about managing trade-offs,” she highlighted the need of energy balance. 

As countries pursue cleaner energy pathways, policymakers must ensure that the benefits of the transition are shared broadly and that communities are equipped to adapt to the changes it brings. In Indonesia, for example, coal continues to play a significant role in providing reliable and affordable electricity, while existing coal-fired power plants represent major long-term investments. As a result, the transition to cleaner energy cannot happen overnight. Governments must carefully balance multiple considerations, including managing stranded assets, maintaining energy affordability, ensuring grid reliability, and scaling up renewable alternatives at a pace that meets growing energy demands. This approach allows countries to advance their sustainability goals while maintaining economic stability and energy security. 

Overall, by examining sustainability through the lenses of finance, data, and energy, participants gained a broader perspective on the complexities of climate action. The insights shared by Prof. Johan Sulaiman and Dr. Ishani Mukherjee demonstrated how decisions related to investment, sustainability reporting, and energy transition are closely interconnected. By understanding these relationships, participants gained valuable perspectives on the opportunities, trade-offs, and policy considerations involved in advancing sustainable and inclusive development across the region. 

Author: Mita Adhisti | Editor: Yusuf Rifai