OJK (Otoritas Jasa Keuangan)
Climate Impact & Sustainability Data (Nov 2023)
Reporting Period: Nov 2023
Environmental Metrics
ESG Focus Areas
- Sustainable insurance practices
- ESG criteria in investment decisions
Climate Goals & Targets
Short-term Goals:
- Increase insurance penetration from 2.9% to 7.1% by 2025.
Environmental Challenges
- Fragmentation of digital ecosystems leading to duplicated processes and data risks.
- Compliance with IFRS 17 and upcoming ESG standards.
Mitigation Strategies
- Establishing a single source of truth for data.
- Adopting a forward-thinking approach to technology adoption and developing a comprehensive digital strategy.