The Sustainable Development Solutions Network Southeast Asia Network (SDSN SEA) co-hosted a conference dedicated to the topic of blended finance October 9-11, 2018. Held in Bali, Indonesia alongside the 2018 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group, the second Tri Hita Karana Forum for Sustainable Development hosted over 300 industry experts from around the region to brainstorm new approaches to financing sustainable development programs throughout Asia. The forum was also endorsed by the Indonesia Government. This was the premier blended finance conference in the world, putting Indonesia at the leading edge of this emerging industry of public-private partnerships. Prior to the conference, SDSN SEA led a day of celebration on the island of Kura Kura Bali.
Commitments resulting from the conference are listed below. This incredible, three-day event was facilitated by the vision and leadership of Cherie Nursalim, SDSN SEA Chair. Her unrelenting passion for sustainable development and ongoing commitment to the Sustainable Development Goals (SDGs) is an example for others to follow. She is also responsible for all of the past and future planned activities on the island of Kura Kura Bali.
Kura Kura Bali–dubbed the “Island of Happiness” for its adoption of the ancient Balinese philosophy of Tri Hita Karana, or three routes to happiness–is making global headlines again for highlighting sustainable solutions. The spirit of Kura Kura Bali is to inspire a generation of innovators, entrepreneurs, and creative talents from all over the world. The vision of the island is to provide a space for testing inclusive new technologies and best practices for sustainable living by reducing energy use, conserving water, reducing waste, and lowering carbon emissions.
During the celebrations held before the conference, SDSN SEA, led by United in Diversity, featured two extraordinary announcements on the island.
First, the network cohosted a ceremonial dinner to celebrate the finalist in its Coastal Design Competition, launched last year in partnership with HeroX. The competition called for innovative design concepts for a vertical seawall to increase the resilience of the island and protect its natural beauty. Seeking something beyond a standard concrete wall and aligned with the local ecology, participants were asked to create a prototype wall to protect the island that was also in harmony with nature. This was part of the famous HeroX Prize, an offshoot of the X Prize, started by visionary Peter Diamandis.
The result was a remarkable story of co-creation, “crowd-sourcing” a truly global collaboration, and creating the world’s first prototype of an ecologically harmonious and environmentally sustainable seawall. Forty-two technically sophisticated seawall designs were submitted from around the world. The Coastal Design Competition is the first in a series of sustainability initiatives planned for the Kura Kura Bali Island of Happiness. The competition provides an extraordinary opportunity to challenge and inspire engineers, architects, entrepreneurs, and innovators from all around the world to develop sustainable infrastructure. “We congratulate the final teams for their relentless effort in delivering their best ideas and inspiration to develop new solutions while supporting the SDGs through the approach of Tri Hita Kirana,” said Cherie Nursalim.
On the same day, SDSN SEA co-hosted a signing ceremony with China’s Tsinghua University, committing to the development of a “creative campus” on the island as an extension campus of Tsinghua University in Indonesia–Tsinghua SEA Center at Kura Kura Bali. This partnership with the island’s creative campus is historical, as Tsinghua University is also one of the earliest Chinese institutions dedicated to higher education and research in sustainable development. Tsinghua SEA at Kura Kura Bali in Indonesia is one of only three of its global locations, tertiary to the United States and Italy. This partnership will further the vision to develop sustainable solutions on the island and to encouraging unique green solutions and prototypes to inspire the rest of the region and the world. Gede Ardhika, President Director of Kura Kura Bali said, “Tsinghua’s SEA Center, along with SDSN SEA, demonstrate our commitment to sustainability. This will be the hub for innovation and incubation of ‘technopreneurs,’ working in collaboration with various stakeholders.” The center will inspire the island’s co-creative learning process for humanity’s sustainable common future. The Tsinghua SEA Center will later serve as a key partner and learning lab for SDSN SEA. The global recognition of these two intuitions will be a strong foundation of their future programs and further collaboration throughout the SEA region.
Outcome Announcements and Commitments: an exemplary list but not exhaustive
Green Finance for Sustainable Infrastructure | SDG Indonesia One
Partners: Indonesia’s Sarana Multi Infrastruktur (SMI), Indonesia Ministry of Finance, and the Asian Development Bank (ADB)
Launch of SDG Indonesia One fund, an integrated SDG program to drive new investment into large-scale green infrastructure projects.
100 Island Solutions | Geothermal Energy Upstream Development Project
Exploration project in geothermal energy to increase the electrification ratio of East Nusa Tenggara Province.
Tech Parks, Innovation, and Education | Jambi Micro Hydro Power Project
Partners: UN Development Programme (UNDP), Badan, Amil Zakat Nasional (BASNAS), and Bank Jambi
60 KW of new development and 120 KW of revitalization of existing hydro power plants, providing electricity to schools, mosques, and 803 households (4,448 people) in Jambi.
Resilient Cities – Connectivity Paradigm | Indonesia Country Report on Connectivity
Partners: GSM Association (GSMA)
Allocating 700 MHz spectrum for mobile broadband could deliver economic benefits of US$11 billion (IDR161 trillion) to the Indonesian economy between 2020 and 2030, equivalent to 1 percent of GDP; new GSMA country report on connectivity launched.
Happiness Paradigm – Ecotourism and Conservation | Belantara Ecotourism Projects to Moblise Private Investors for Conservation
Partners: SDSN and Belantara
Soft launch for two ecotourism projects with Belantara in South Sumatra.
Ocean Health, Plastics, and the Blue Economy | Tri Hita Karana for Clean Bali – Sakenan Charter
Partners: SDSN Indonesia and Udayana University
The Sakenan Bali Declaration is a new, locally-driven effort using traditional power structures and laws to change behavior and reduce marine littering.
Funding the Female Economy (large scale funds to microcredit) | $10 Million Fund Investing in Anti-Stunting Programs in Indonesia
Partners: 1000 Days Fund and FeelWell Ceramics
One in three Indonesian children suffer from stunting. This new US$10 million fund and young entrepreneurs from Indonesia is taking action to reverse the trend.
Policy and Regulation for Sustainable Finance | Tri Hita Karana Roadmap for Blended Finance
Partners: The Organisation for Economic Development (OECD), Blended Finance Taskforce, major multilateral development banks (MDBs), and other key partners
THK Forum endorses Tri Hita Karana Roadmap for Blended Finance as Indonesia leads on blended finance for the SDGs.
Media Contact: Arnfinn Jacobsen
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About the Island of Happiness Kura Kura Bali
Kura Kura Bali Island lies just 15 minutes’ drive from Ngurah Rai International Airport, connected seamlessly to the main Bali island by a short bridge. Set against the dramatic backdrop of Bali’s sacred Mount Agung on the horizon, Kura Kura Bali is within the realm of Bali’s capital city of Denpasar, and easily accessible from prime resort destinations. The unique eco-development spanning 500 hectares with 3000m of coral reefs, 92 birds species invites world-class master-planners, architects and partners from diverse fields to co-create a World of Happiness in Bali. www.kurakurabali.com
About Hero X
Founded in 2013, HeroX exists at the intersection of crowdsourcing, competition, and collaboration. HeroX was created as a means to democratize the innovation model of the XPRIZE, founded by Peter Diamandis. The HeroX crowdsourcing platform brings together global communities of problem solvers to deliver breakthrough solutions to social, economic, and strategic challenges. www.herox.com