UWP RESEARCH TEAM HOLDS FGD ON THE URGENCY OF REGULATION OF BLUE BOND IN INDONESIA
The Research
Team from Wijaya Putra University (UWP) held a Forum Group Discussion (FGD) and
Expert Test with the theme "The Urgency of Blue Bond Regulations as a Blue
Economy Financing Instrument in Indonesia".
The FGD invited
academics from lecturers and students as well as practitioners from across
fields such as law, the environment and economics. The FGD was held in the
Prof. Auditorium. Saleh Soegiyanto, UWP Wiyung Campus on Friday, September 20
2024.
In the
presentation delivered by the Head of the Research Team, Dr. Budi Endarto,
S.H., M.Hum., said that the direction of global development has shifted towards
sustainable development.
At the national
level, sustainable and environmentally sound principles have been recognized as
the direction of the national economy as well as a part of Human Rights (HAM),
as stated in Article 28H paragraph (1) and Article 33 paragraph (4) of the 1945
Constitution of the Republic of Indonesia.
"This is a
philosophical basis for the implementation of the national economy and
sustainable development in Indonesia," said Budi in his presentation.
He conveyed
that the geographical fact is that Indonesia is an archipelagic state with 2/3
of Indonesia's territory being territorial waters. From this, the development
of the blue economy concept emerged in Indonesia.
“The potential
is huge. More than 2000 Trillion Rupiah sourced from maritime economic
potential. "In addition to the current direction of global and national
development, a blue economy is a necessity," said Budi Endarto who is also
the Chancellor of UWP.
However,
according to Budi, there is one thing that must be considered in developing the
blue economy, namely the blue financing aspect which is a source of financing
for the development of the blue economy. According to him, it would be very
difficult to only rely on financing sourced from the public sector such as the
APBN and APBD.
Reflecting on
this, the UWP Research Team offers financing from the private sector involving
companies, maritime related agencies or even the community. The financing in
question is Blue Bonds as a blue economy financing instrument in Indonesia.
"The
results of our study show that Indonesia needs to make a special regulation
regarding blue bonds in Indonesia, which currently does not yet exist.
"Apart from that, we suggest that changes be made to the International
Convention on the Law of the Sea or UNCLOS in the future by elaborating on the
concept of the blue economy and the principles of blue financing," he
concluded.
The first
responder to the FGD was Dr. Rihantoro Bayuaji, S.H., M.H., expressed his
appreciation for the research results from the UWP Research Team.
"This is
very good writing, especially in the world of capital markets in
Indonesia," said Bayu, who is an advocate and capital market legal
consultant.
Meanwhile, the
second responder, namely Dr. Suwarno Abadi, S.H., M.Si., said that this
research should be one of the materials in academic texts related to the
formation of legislation related to the blue economy and blue bonds in
Indonesia.
“This research
is very good and should be used as a reference in future academic papers. This
is related to vertical and horizontal harmonization regarding blue economy and
blue bond regulations. "We reflect on the Job Creation Omnibus Law and the
IKN Law which have caused many problems due to fast track legislation."
This research
is part of a Fundamental Research Grant funded by the Ministry of Education and
Culture, T.A. 2024. This research is chaired by Dr. Budi Endarto, S.H., M.Hum.,
and members Dr. Taufiqurrahman, S.H., M.Hum., Dr. Fitra Mardiana, S.E., M.M.,
and 2 UWP FH students, namely Dina Wanda Setiawan Putri and Marselinus Kosten.
It is hoped
that this research can become a reference material for relevant institutions in
forming regulations related to the development of the blue economy, especially
blue bonds in Indonesia.
