Senior economist Chatib Basri (second left) during the plenary session of the T20 Indonesia Summit in Nusa Dua, Bali, on Monday (5/9/2022). (ANTARA/Sanya Dinda)
When the climate issue is concerned, we can discuss what will be the funding sources for climate financing. For instance, we can discuss the management of domestic resources, assistance and role of the private sector or the role of philanthropic instG20 leaders need to choose universal issues for discussion at the G20 Summit to be held in Bali in November, senior economist Chatib Basri stated.
"We know several issues related to geopolitics, narrow personal interest of a country, and so on," he noted at the plenary session of T20 Indonesia Summit here on Monday.
Basri highlighted two universal issues -- climate change and health crisis due to the COVID-19 pandemic -- that can be discussed at the G20 Summit.
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"When the climate issue is concerned, we can discuss what will be the funding sources for climate financing. For instance, we can discuss the management of domestic resources, assistance, and role of the private sector or the role of philanthropic institutions," he stated.
One of the ways to mitigate climate change through energy transition is the use of green stimuli, he remarked.
"One of the examples is cutting fuel subsidy, so we would better reduce fossil fuel demand and use the subsidy to protect vulnerable groups," he remarked.
Indonesia's G20 Presidency also serves as a forum to discuss how countries in the world can apply the exit strategy of the COVID-19 handling policy without disturbing one another, he stated.
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Currently, countries still aim to assist their vulnerable communities amid the rising global commodity prices. However, the exponential inflation rate has indubitably caused each country to withdraw the stimulus, he remarked.
"Hence, we can recalibrate and sit together to use G20 as a way to discuss various main issues in the world," he stated.
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