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he climate crisis is driving an increase in voluntary commitments by financial institutions to reduce emissions. National and international ESG (environmental, social and governance) policies are evolving and transitioning from voluntary to mandatory relatively quickly.Indonesia has made ESG disclosure mandatory through the Financial Services Authority (OJK) Regulation No. 51/2017 on sustainable finance. But disclosure is only the first step, and it does not do enough to push banks and portfolio managers to internalize ESG principles when assessing projects that land on their desks. Indonesia’s banks are not yet ready to fully account for ESG in their internal procedures and management…

Facebook parent Meta Platforms on Thursday said it understood it was not required to pay for content of news publishers posted voluntarily by users in Indonesia, following a government regulation seeking a sharing of profits between digital platforms and media firms.Indonesia’s president signed a regulation on Monday requiring digital platforms to pay media outlets that provide them with content, a move aimed at levelling the playing field between big tech companies and the media industry.Rafael Frankel, Meta’s public policy director in Southeast Asia, said in an emailed response to Reuters that after consultations, it understood it was not “obliged to…

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World tourist destination of Bali needs action to prepare Island of Gods in rising tropical disasters riskBali, Indonesia – World famous tourist island Bali has fallen behind in the global race to cope with rising threats of tropical natural catastrophes, a regional disaster risk specialist has found in response to urgent measures put forward at the recent United Nations World Conference for Disaster Risk Reduction (UNWCDRR) held in Japan.Global disaster trends show island nations in zones across the tropics are most at risk from an increase in natural disasters, and island populations need to do more in preparedness for human…

JAKARTA – Indonesia is pushing ahead with a data protection law following a series of high-profile data breaches in recent months at some of its biggest e-commerce companies. The legislation – due by the end of the year – will make it illegal to collect consumer data without permission and requires businesses to alert customers within days of knowing that their names, email and other information had fallen into the wrong hands. The proposed law, which includes fines of up to 210 billion rupiah (S$20 million) for corporations or up to seven years in prison for individuals, reflects growing concern…

The US Department of Justice said it seized two Internet domains and searched nearly 1,000 social media accounts that Russian threat actors allegedly used to covertly spread pro-Kremlin disinformation at home and abroad on a large scale. “The social media bot farm used elements of artificial intelligence to create fictitious social media profiles, often purporting to belong to individuals in the United States, which the operators then used to promote messages in support of Russian government goals,” the Justice Department said. said. The botnet, which includes 968 accounts on X, is believed to be part of a complex scheme developed…

TikTok owner ByteDance is set to resume business in Indonesia by taking a majority 75.01% stake in Tokopedia with a promised $1.5bn investment. Indonesian tech company GoTo will maintain a 24.99% minority stake in Tokopedia, reports Reuters. This comes after the social media giant was banned from operating its e-commerce platform in Indonesia in October due to new regulations. TikTok will initially pay out $840 million to acquire its stake and has promised further investment in Tokopedia – one of Indonesia’s most visited e-commerce platforms – amounting to $1.5 billion over a longer period. TikTok’s e-commerce arm, TikTok Shop Indonesia,…

Indonesia is experiencing a record-breaking surge in holiday travel as more than 190 million people embark on the annual Eid al-Fitr exodus. This mass migration, locally known as “mudik”, is the reunion of families during the festive occasion.A National Police spokesperson revealed that this year’s exodus has shattered previous records, with an estimated 193.6 million individuals planning to celebrate Eid al-Fitr by returning to their hometowns. This figure surpasses last year’s already staggering count of 123 million participants.The bustling capital of Jakarta, typically notorious for its traffic congestion, has transformed into a deserted landscape as businesses shutter their doors and…

Prof. Dr. (Hon) Jonathan L. Parapak, M. Eng. Sc., (centre), Rector at Universitas Pelita Harapan, is joined by colleague Prof. Dr. Manlian Ronald A. Simanjuntak, S.T, M.T (right) and William James Duggan, READI Project Field Director, Indonesia, at the April 10, 2017 signing of a Memorandum of Understanding to participate in the READI Project’s Indonesian activities which includes the creation of an Actuarial Science co-operative education program at his university. Other colleagues (not pictured) present for the signing included: Dr. Helena Margaretha, M.Sc., Associate Dean of Faculty of Science & Technology, Kie Van Ivanky Saputra, S.Si. Ph.D, Head, Mathematics Program…

Law firm interviewed: GHP Law Firm TikTok has been engulfed in regulatory whirlwinds across the world, which have put a dent in its global ambitions. In the United States, the popular social media app owned by ByteDance faces a ban unless its Beijing-based parent company divests its U.S. operations, and in Indonesia, TikTok had to temporarily quit its e-commerce business as its shopping arm ran into a slew of obstacles. In September last year, Indonesia announced it would ban direct commercial transactions on all social media platforms in a bid to ensure “fair and just” competition, protect user data, and…