“Peatlands are sexy!” They aren’t words you would normally associate with peatlands, but judging from the large audience that participated in the lively discussion on financing peatland restoration in Indonesia at the “Global Landscapes Forum: Peatlands Matter” conference, held May 18 in Jakarta, it seems to be true. The observation was made by Erwin Widodo, one of the speakers in the World Bank-hosted panel discussion at the event.
For me, it was a great honor to moderate a panel comprised of several of the leading voices in the space: Kindy Syahrir (Deputy Director for Climate Finance and International Policy, Finance Ministry), Agus Purnomo (Managing Director for Sustainability and Strategic Stakeholder Engagement, Golden Agri-Resources), Erwin Widodo (Regional Coordinator, Tropical Forest Alliance 2020), Christoffer Gronstad (Climate Change Counsellor, Royal Norwegian Embassy), and Ernest Bethe (Principal Operations Officer, IFC).
It was the right mix of expertise to address the formidable challenges in securing resources to finance sustainable peatland restoration in Indonesia. These include finding solutions to plug the financing gap, and identifying instruments and the regulatory framework necessary to strengthen the business case for peatland restoration. A significant amount of finance has been pledged. But one of the key issues the panel needed to address was how to redirect available finance towards more efficient and effective outcomes to reach sustainable restoration targets.