Photo 1. Group Photo of the Participants in the Day 1 Grand Ceremony 

The ASEAN Centre for Energy (ACE) conducted a Grand Ceremony of the GCF-KDB Programme: Supporting Innovative Mechanisms for Industrial Energy Efficiency Financing in Indonesia with Lessons for Replication in other ASEAN Member States on Thursday and Friday, 15 – 16 May 2025, at Shangri-la Hotel, Jakarta, Indonesia. 

The event served as a symbol of the programme’s start, with workshop sessions aimed at increasing the participation of local financial institutions (FIs) and attracting more project pipelines to be supported under the GCF-KDB Programme. The programme fulfils the ASEAN Plan of Action for Energy Coordination (APAEC) Programme Area 4 of Energy Efficiency and Conservation (EE&C), Outcome-based Strategy (OBS) 5: Advance Energy Efficiency and Energy Management in Industry, with related activities under the GCF-KDB Programme FP 196: Supporting Innovative Mechanisms for Industrial Energy Efficiency Financing in Indonesia with Lessons for Replication in other ASEAN Member States.  

Day 1: Financial Institutions 

On Day 1, the workshop focused on the GCF Guarantee Component for Financial Institutions (FIs), highlighting how FIs can leverage this mechanism to expand financing for energy efficiency projects and strengthen their green portfolios. The event opened with remarks from prominent stakeholders in Indonesia’s financial players sectors, underlining the urgency of scaling up energy efficiency investments. Bobby Wahyu Hernawan, Director for the Centre of Climate Change and Multilateral Policy, Ministry of Finance, highlighted Indonesia’s USD 281 billion climate finance needs by 2030. Dr. Ir. Hendra Iswahyudi, Director of Energy Conservation at the Ministry of Energy and Mineral Resources, addressed financial barriers in industrial efficiency. Se-Kyung Park, Head of Climate Business Team at KDB, framed the Grand Ceremony as a pivotal moment for the programme’s second year, and Dato’ Razib Dawood, Executive Director of ACE, expressed the strong support for the programme’s long-term impact.  

Photo 2. Opening Remarks delivered by Bobby Wahyu Hernawan, Ministry of Finance (Upper Left), Dr. Ir. Hendra Iswahyudi M.Si., Ministry of Energy and Mineral Resources (Upper Right), Se-Kyung Park, Korea Development Bank (KDB) (Bottom Left), and Dato’ Razib Dawood, ACE (Bottom Right).

The first day featured practical insights on scaling up energy efficiency financing in Indonesia. Haein Cho from KDB introduced the GCF-KDB Programme, offering technical assistance and loan guarantees to de-risk investments. The session continued by Yuki Yasarani from OJK, outlining Indonesia’s sustainable finance framework while noting gaps in energy efficiency financing. Further, Pablo Oses Bermejo (BASE Foundation) presented the Energy Savings Insurance (ESI) model for addressing energy efficiency challenges for SMEs, followed by Kwon Dae Kun (KEA) on presenting the Korea’s ESCO model. Eisha Maghfiruha Rachbini (INDEF) closed by emphasising gender inclusion in financial policies. 

 Photo 2. Session’s presentation delivered by  Haein Cho, Korean Development Bank (Top Left),  Yuki Yasarani, Indonesia’s Financial Services Authority (Top Right), Pablo Oses Bermejo, BASE Foundation (Centre Left), Kwon Dae Kun, KEA (Centre Right), and Eisha Maghfiruha Rachbini, Institute For Development of Economics and Finance (INDEF).

The event was concluded with closing remarks from Dr. Zulfikar Yurnaidi, Acting Head of Energy Efficiency and Conservation Department at the ASEAN Centre for Energy, underscoring the programme’s reach, stating, “These guaranteed components from the programme will help catalyse more energy efficiency projects. Collaboration across sectors, involving both public and private stakeholders, is essential in cultivating a supportive ecosystem and creating meaningful access points.” 

Photo 3. Closing remark delivered by Dr. Zulfikar Yurnaidi, ASEAN Centre for Energy 

Day 2: Industrial Players 

Day 2 centred on empowering Indonesia’s industrial sector to scale up energy efficiency through practical, inclusive solutions. Dr. Winardi M.Si., Director of the Industrial Region at the Ministry of Industry, highlighted the GCF-KDB Programme’s role in exceeding net-zero targets and supporting SMEs and women-led enterprises. Further, Se-Kyung Park, Head of the Climate Business Team at KDB, underscored energy efficiency as vital for resilient growth, while Dr. Zulfikar Yurnaidi, Acting Head of the CEE Department at ACE, called for integrating de-risking tools, ESCOs, and gender-sensitive strategies into industrial planning.  

Photo 4. Opening Remarks delivered by Dr Winardi, M.Si. Ministry of Industry (Upper Left), Se-Kyung Park, Korean Development Bank (KDB) (Upper Right), and Dr Zulfikar Yurnaidi, ACE (Bottom Centre) 

Dan Valeriz from the ASEAN Centre for Energy opened the first session by highlighting the GCF-KDB Programme’s role in scaling industrial solutions through de-risking tools, ESCOs and capacity building. Gyeongmin Yeo from KDB outlined the guaranteed process, emphasising strong support for SMEs and ESCOs.  

Photo 5. Session’s presentation delivered by Mr Dan Valeriz, ACE (left) and  Gyeongmin Yeo, Korean Development Bank (right)  

Dr. Hanny J. Berchmans of TetraTech stressed the importance of Investment Grade Audits in turning potential into bankable projects. Presentations from BASE and KEA showcased global models like Energy Savings Insurance and Korea’s ESCO approach. Closing the session of day 2 grand ceremony, Eisha Maghfiruha Rachbini of INDEF introduced a Gender Action Plan, urging gender-responsive financing through evidence-based policymaking to support inclusive and sustainable industrial growth. 

Photo 6. Session’s presentation delivered by Dr Hanny J Berchmans, TetraTech (Upper Left), Pablo Oses Bermejo, BASE Foundation (Upper Right), Kwon Dae Kun, KEA (Bottom Left), and Eisha Maghfiruha Rachbini, INDEF (Bottom Right) 

At the closing stage of the Grand Ceremony, Dr. Zulfikar thanked participants and underscored the vital role of energy efficiency in industrial transformation. He pointed out the GCF-KDB Guarantee Programme’s importance in reducing investment risks for SMEs and stressed the need for supportive policies, technical assistance, and collaborative efforts to build a competitive and sustainable industrial sector in Indonesia. 

Photo 7. Closing remark delivered by Dr. Zulfikar Yurnaidi, Acting Manager of CEE Department at ACE.

About the GCF-KDB Programme 

In 2023, Green Climate Fund and Korea Development Bank have signed a funded activity agreement (FAA) for a programme called “Supporting Innovative Mechanisms for Industrial Energy Efficiency Financing in Indonesia with Lessons for Replication in other ASEAN Member States programme”. This programme aims to increase Indonesia’s capacity to address the rising energy consumption in the industrial sector. The programme provides a package of innovative energy efficiency solutions including financial de-risking mechanisms, exploration of new energy service business models, development of a supportive regulatory framework, and technical assistance for the industry sector in Indonesia.  

For more information, please visit the GCF-KDB Programme landing page.