Indonesia’s Decarbonization Challenges and the Importance of PCAF Compliance

Indonesia has set an ambitious goal of achieving carbon neutrality by 2060. In support of this, the Indonesian government and the Financial Services Authority (OJK) are enhancing regulations around climate risk management and CO2 emissions reporting for domestic financial institutions. The PCAF Standard, along with the Climate Risk Stress Testing (CRST) guidelines, provides a clear framework for financial institutions to achieve decarbonization targets across their portfolios, highlighting the importance of adhering to these standards in anticipation of potential regulatory mandates.

Given this context, SMBC Indonesia, which has investments in thousands of companies across the region, recognized the need to enhance both the efficiency and reliability of its CO2 emissions visualization and disclosures, leading to the adoption of the “ASUENE” solution.

The decision to implement ASUENE was driven by its robust capabilities in calculating Scope 3 Category 15 emissions, specifically addressing financed emissions in compliance with the PCAF Standard. With the deployment of ASUENE, SMBC Indonesia will enable over 300 of its major investee companies, particularly publicly listed and large corporations, to align with PCAF-compliant emissions calculations.

This implementation will be conducted under a white-label model, allowing SMBC Indonesia to maintain its brand presence while effectively enhancing CO2 emissions transparency among its investees. Additionally, ASUENE supports multiple languages, including Indonesian, Japanese, and English, and is backed by ASUENE APAC’s dedicated consulting team for rapid, localized support.

ASUENE remains committed to supporting sustainable finance initiatives in the Indonesian market by providing solutions that contribute to CO2 emissions reduction. We will continue to collaborate with SMBC Indonesia and other financial institutions, offering comprehensive support to help them achieve their decarbonization goals across their finance portfolios.

SMBC Indonesia / Nathan Christianto, Head of Wholesale Banking SMBC Indonesia&nbsp;

Through this partnership with Asuene, SMBC Indonesia proves its commitments in supporting the Indonesian government's initiatives to strengthen regulations on climate risk management. SMBC Indonesia hopes this collaboration will provide customers with added value by supporting them with platform to manage their emissions administration and maintain the historical records.

ASUENE APAC / Kohei Nishiwada, Founder &amp; CEO of Asuene Inc.

We see a rising demand for GHG accounting in Indonesia as part of the push toward Net Zero and the 2030 targets. OJK's new guidelines highlight the critical need for accurate financed emissions measurement by financial institutions. Few banks in ASEAN currently calculate these emissions using primary client data, making this initiative a pioneering step. ASUENE is dedicated to providing efficient solutions to help companies in Indonesia meet regulations and advance sustainability.&nbsp;

PT Bank SMBC Indonesia Tbk (SMBC Indonesia)—formerly PT Bank BTPN Tbk (Bank BTPN)—is a foreign exchange bank resulting from the merger of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia in February 2019. Driven by the spirit of "Do Good, Be Great," SMBC Indonesia aims to create more meaningful growth for society through innovative and comprehensive financial solutions centred on meeting customers' needs across various segments. SMBC Indonesia provides products and services such as green financing, products and services for retired customers, for micro, small, and medium enterprise customers, for large national, multinational, and Japanese corporations, wealth management services through Sinaya, as well as digital banking services for digital-savvy communities through Jenius. Additionally, SMBC Indonesia has subsidiaries, including PT Bank BTPN Syariah Tbk, serving customers from productive underprivileged communities, and financing companies PT Oto Multiartha (OTO) for four-wheel vehicles and PT Summit Oto Finance (SOF) for two-wheel vehicles. SMBC Indonesia's commitment to positively and sustainably impacting the broader community is also reflected through Daya. This sustainable and measurable empowerment program offers regular training to enhance personal capabilities and capabilities for a more meaningful life.&nbsp;

Representative: President Commissioner, Chow Ying Hoong Headquarters: Menara SMBC, CBD Mega Kuningan, Jl. Dr. Ide Anak Agung Gde Agung, Kav 5.5-5.6 Website: https://www.smbci.com For media inquiries, please contact:Andrie Darusman, Communications &amp; Daya Head Email: andrie.darusman@btpn.com or corporate.communications@btpn.com

ASUENE Inc. is pleased to announce that it has provided its carbon accounting platform, “ASUENE,” to PT Bank SMBC Indonesia Tbk (SMBC Indonesia), a major banking subsidiary of Sumitomo Mitsui Banking Corporation operating in Indonesia. By leveraging ASUENE, SMBC Indonesia can conduct calculations in line with the PCAF (Partnership for Carbon Accounting Financials) Standard, strengthening its sustainable finance initiatives and accelerating decarbonization efforts across its entire financial portfolio. <h2>Indonesia’s Decarbonization Challenges and the Importance of PCAF Compliance</h2><img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/caacc496-a823-44f7-d738-7b59a7ab8500/public" alt="Nathan Christianto, Head of Wholesale Banking SMBC Indonesia.; Atsushi Hino, Director of Corporate Banking SMBC Indonesia.; Shu Setogawa Manager of Asuene Inc.; Callista Daniella, Sustainability Consultant of Asuene Inc." />Indonesia has set an ambitious goal of achieving carbon neutrality by 2060. In support of this, the Indonesian government and the Financial Services Authority (OJK) are enhancing regulations around climate risk management and CO2 emissions reporting for domestic financial institutions. The PCAF Standard, along with the Climate Risk Stress Testing (CRST) guidelines, provides a clear framework for financial institutions to achieve decarbonization targets across their portfolios, highlighting the importance of adhering to these standards in anticipation of potential regulatory mandates.Given this context, SMBC Indonesia, which has investments in thousands of companies across the region, recognized the need to enhance both the efficiency and reliability of its CO2 emissions visualization and disclosures, leading to the adoption of the “ASUENE” solution.<h2>Why SMBC Indonesia Chose “ASUENE”</h2>The decision to implement ASUENE was driven by its robust capabilities in calculating Scope 3 Category 15 emissions, specifically addressing financed emissions in compliance with the PCAF Standard. With the deployment of ASUENE, SMBC Indonesia will enable over 300 of its major investee companies, particularly publicly listed and large corporations, to align with PCAF-compliant emissions calculations.This implementation will be conducted under a white-label model, allowing SMBC Indonesia to maintain its brand presence while effectively enhancing CO2 emissions transparency among its investees. Additionally, ASUENE supports multiple languages, including Indonesian, Japanese, and English, and is backed by ASUENE APAC’s dedicated consulting team for rapid, localized support.<h2>Future Outlook</h2>ASUENE remains committed to supporting sustainable finance initiatives in the Indonesian market by providing solutions that contribute to CO2 emissions reduction. We will continue to collaborate with SMBC Indonesia and other financial institutions, offering comprehensive support to help them achieve their decarbonization goals across their finance portfolios.<h2>Comments from Key Executives</h2>SMBC Indonesia / Nathan Christianto, Head of Wholesale Banking SMBC Indonesia&nbsp;Through this partnership with Asuene, SMBC Indonesia proves its commitments in supporting the Indonesian government's initiatives to strengthen regulations on climate risk management. SMBC Indonesia hopes this collaboration will provide customers with added value by supporting them with platform to manage their emissions administration and maintain the historical records.ASUENE APAC / Kohei Nishiwada, Founder &amp; CEO of Asuene Inc.We see a rising demand for GHG accounting in Indonesia as part of the push toward Net Zero and the 2030 targets. OJK's new guidelines highlight the critical need for accurate financed emissions measurement by financial institutions. Few banks in ASEAN currently calculate these emissions using primary client data, making this initiative a pioneering step. ASUENE is dedicated to providing efficient solutions to help companies in Indonesia meet regulations and advance sustainability.&nbsp;<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/e747269e-1c78-4eed-6dd5-740d3ea9dc00/public" alt="Image" /><h2>About SMBC Indonesia</h2>PT Bank SMBC Indonesia Tbk (SMBC Indonesia)—formerly PT Bank BTPN Tbk (Bank BTPN)—is a foreign exchange bank resulting from the merger of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia in February 2019. Driven by the spirit of "Do Good, Be Great," SMBC Indonesia aims to create more meaningful growth for society through innovative and comprehensive financial solutions centred on meeting customers' needs across various segments. SMBC Indonesia provides products and services such as green financing, products and services for retired customers, for micro, small, and medium enterprise customers, for large national, multinational, and Japanese corporations, wealth management services through Sinaya, as well as digital banking services for digital-savvy communities through Jenius. Additionally, SMBC Indonesia has subsidiaries, including PT Bank BTPN Syariah Tbk, serving customers from productive underprivileged communities, and financing companies PT Oto Multiartha (OTO) for four-wheel vehicles and PT Summit Oto Finance (SOF) for two-wheel vehicles. SMBC Indonesia's commitment to positively and sustainably impacting the broader community is also reflected through Daya. This sustainable and measurable empowerment program offers regular training to enhance personal capabilities and capabilities for a more meaningful life.&nbsp;<h2>Company Name: PT Bank SMBC Indonesia Tbk</h2>Representative: President Commissioner, Chow Ying Hoong Headquarters: Menara SMBC, CBD Mega Kuningan, Jl. Dr. Ide Anak Agung Gde Agung, Kav 5.5-5.6 Website: https://www.smbci.com For media inquiries, please contact:Andrie Darusman, Communications &amp; Daya Head Email: andrie.darusman@btpn.com or corporate.communications@btpn.com

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ASUENE Inc. is pleased to announce that it has provided its carbon accounting platform, “ASUENE,” to PT Bank SMBC Indonesia Tbk (SMBC Indonesia), a major banking subsidiary of Sumitomo Mitsui Banking Corporation operating in Indonesia. By leveraging ASUENE, SMBC Indonesia can conduct calculations in line with the PCAF (Partnership for Carbon Accounting Financials) Standard, strengthening its sustainable finance initiatives and accelerating decarbonization efforts across its entire financial portfolio.

Asuene provides the carbon accounting platform “ASUENE” to SMBC Indonesia, a member of the SMBC Group in Indonesia, to support the PCAF calculations needed to achieve Indonesia's decarbonization goals.

AMEICC Human Resource Development Project for ASEAN

AMEICC (AEM-METI Economic and Industrial Cooperation Committee) is a committee under the Japan-ASEAN Economic Ministers' Meeting, supported by the Japanese government, aimed at promoting ASEAN economic development. Starting this year, AMEICC has begun providing training support through the "ASEAN Support Program for GX/DX Human Resource Development" to develop GX and DX talents who will support the supply chains in the ASEAN region.

The "Human Resource Development Course ILX" is a program developed by Green CPS Council, a general incorporated association with participation from ASUENE and Lexer Research, along with local partners, Thammasat University in Thailand and INDONESIA-JAPAN BUSINESS NETWORK (IJBNET). This course has been certified as part of AMEICC's ASEAN Support Program for GX/DX Human Resource Development and it is launched as an industry-government-academia collaboration. The course offers foundational knowledge on calculating a company’s CO2 emissions and assessing the Carbon Footprint (CFP)  for products and services, aiming to contribute to the GX talent development to drive decarbonization management in ASEAN based companies.

In ASEAN countries, regulations aimed at achieving decarbonization goals are strengthening, making the promotion of decarbonization management for companies based in the region an increasingly essential element. Among these, manufacturing bases are particularly concentrated in ASEAN and account for a significant portion of CO2 emissions. Major manufacturing companies are being required, along with their suppliers, to visualize and reduce CO2 emissions. As a result, there will be a growing demand for talent who can drive decarbonization management in the future.

In the manufacturing industry, there is a shortage of GX talent with the necessary knowledge and skills to promote decarbonization across ASEAN, despite the rising demand for such talent.

ASUENE  offers a range of multi-products, including the CO2 emissions visualization, reduction, and reporting cloud service "ASUENE," the ESG evaluation service "ASUENE ESG," and the GX/ESG talent-focused recruitment platform "ASUENE CAREER." By providing one-stop solutions in the sustainability field, "ASUENE" is driving decarbonization and ESG management for over 10,000 companies, and "ASUENE ESG" is supporting more than 14,000 companies, boasting the No.1 record in Asia.

Lexer Research  is engaged in business areas such as production system simulation and cyber-physical systems in the manufacturing sector, while also advancing human resource development activities for the manufacturing industry based on its expertise in digital engineering.

By leveraging ASUENE’s expertise in decarbonization management and Lexer Research’s manufacturing sector knowledge, we will promote the development and dissemination of GX talent development courses for the manufacturing industry.

About the "Human Resource Development Course ILX"

ASUENE, Lexer Research, ASEAN partner Thammasat University, and IJBNET, together with support from AMEICC, are launching the "Human Resource Development Course ILX" as an industry-government-academia collaboration across ASEAN countries. As the first phase, seven courses will be jointly held in Thailand and Indonesia this year.

Course Title: “Basic Course for CFP Knowledge and Self-Accounting”

Target: Japanese-affiliated manufacturers or local manufacturers recommended by Japanese-affiliated manufacturers

Masahiro Nakamura (Representative Director &amp; CEO of  Lexer Research Inc.,Ph.D. in Engineering)

“Decarbonization efforts must not be limited to domestic initiatives, but should be expanded internationally. To drive these efforts, it is effective to promote awareness and the dissemination of methods through human resource development. Especially in ASEAN, it is expected that Japan’s decarbonization knowledge and technologies will be applied, demonstrating leadership in Asia. I am pleased to sign this Memorandum of Understanding with ASUENE, as it allows us to share and collaborate on our complementary expertise, human resource development materials, and services to promote decarbonization activities both domestically and internationally.”

Yoshihiro Iwata (Co-Founder COO of Asuene Inc.)

“Achieving decarbonization targets in ASEAN is essential for the growth of sustainable societies and businesses. We will leverage our experience in supporting the decarbonization management of many companies and fully commit to developing the next generation of talent to support the decarbonization of the manufacturing industry. We are truly delighted to be able to work with Lexer Research on GX talent development projects in the ASEAN region. We hope this initiative will contribute to the region's sustainable future.”

ASUENE has signed a Memorandum of Understanding (MoU) with Lexer Research regarding a GX human resource development project aimed to support the trainings for green transformation (GX) which are to enhance productivity and reduce greenhouse gas (GHG) emissions of companies belonging to the Japanese supply chains in the ASEAN region. The two companies will collaborate to promote GX talent development, leveraging Asuene's expertise in sustainability, particularly in decarbonization management, and Lexer Research's expertise in the manufacturing sector. AMEICC Human Resource Development Project for ASEANAMEICC (AEM-METI Economic and Industrial Cooperation Committee) is a committee under the Japan-ASEAN Economic Ministers' Meeting, supported by the Japanese government, aimed at promoting ASEAN economic development. Starting this year, AMEICC has begun providing training support through the "ASEAN Support Program for GX/DX Human Resource Development" to develop GX and DX talents who will support the supply chains in the ASEAN region.The "Human Resource Development Course ILX" is a program developed by Green CPS Council, a general incorporated association with participation from ASUENE and Lexer Research, along with local partners, Thammasat University in Thailand and INDONESIA-JAPAN BUSINESS NETWORK (IJBNET). This course has been certified as part of AMEICC's ASEAN Support Program for GX/DX Human Resource Development and it is launched as an industry-government-academia collaboration. The course offers foundational knowledge on calculating a company’s CO2 emissions and assessing the Carbon Footprint (CFP) for products and services, aiming to contribute to the GX talent development to drive decarbonization management in ASEAN based companies.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/52f49eb0-3a8e-49b3-7653-8a56686c6900/public" alt="Image" />Background of the MoUIn ASEAN countries, regulations aimed at achieving decarbonization goals are strengthening, making the promotion of decarbonization management for companies based in the region an increasingly essential element. Among these, manufacturing bases are particularly concentrated in ASEAN and account for a significant portion of CO2 emissions. Major manufacturing companies are being required, along with their suppliers, to visualize and reduce CO2 emissions. As a result, there will be a growing demand for talent who can drive decarbonization management in the future.In the manufacturing industry, there is a shortage of GX talent with the necessary knowledge and skills to promote decarbonization across ASEAN, despite the rising demand for such talent.MoU DetailsASUENE offers a range of multi-products, including the CO2 emissions visualization, reduction, and reporting cloud service "ASUENE," the ESG evaluation service "ASUENE ESG," and the GX/ESG talent-focused recruitment platform "ASUENE CAREER." By providing one-stop solutions in the sustainability field, "ASUENE" is driving decarbonization and ESG management for over 10,000 companies, and "ASUENE ESG" is supporting more than 14,000 companies, boasting the No.1 record in Asia.Lexer Research is engaged in business areas such as production system simulation and cyber-physical systems in the manufacturing sector, while also advancing human resource development activities for the manufacturing industry based on its expertise in digital engineering.By leveraging ASUENE’s expertise in decarbonization management and Lexer Research’s manufacturing sector knowledge, we will promote the development and dissemination of GX talent development courses for the manufacturing industry.About the "Human Resource Development Course ILX"ASUENE, Lexer Research, ASEAN partner Thammasat University, and IJBNET, together with support from AMEICC, are launching the "Human Resource Development Course ILX" as an industry-government-academia collaboration across ASEAN countries. As the first phase, seven courses will be jointly held in Thailand and Indonesia this year.Course OutlineCourse Title: “Basic Course for CFP Knowledge and Self-Accounting”Target: Japanese-affiliated manufacturers or local manufacturers recommended by Japanese-affiliated manufacturersPeriod: December 2024 - January 2025CommentsMasahiro Nakamura (Representative Director &amp; CEO of Lexer Research Inc.,Ph.D. in Engineering)“Decarbonization efforts must not be limited to domestic initiatives, but should be expanded internationally. To drive these efforts, it is effective to promote awareness and the dissemination of methods through human resource development. Especially in ASEAN, it is expected that Japan’s decarbonization knowledge and technologies will be applied, demonstrating leadership in Asia. I am pleased to sign this Memorandum of Understanding with ASUENE, as it allows us to share and collaborate on our complementary expertise, human resource development materials, and services to promote decarbonization activities both domestically and internationally.”Yoshihiro Iwata (Co-Founder COO of Asuene Inc.)“Achieving decarbonization targets in ASEAN is essential for the growth of sustainable societies and businesses. We will leverage our experience in supporting the decarbonization management of many companies and fully commit to developing the next generation of talent to support the decarbonization of the manufacturing industry. We are truly delighted to be able to work with Lexer Research on GX talent development projects in the ASEAN region. We hope this initiative will contribute to the region's sustainable future.”

ASUENE has signed a Memorandum of Understanding (MoU) with Lexer Research regarding a GX human resource development project aimed to support the trainings for green transformation (GX) which are to enhance productivity and reduce greenhouse gas (GHG) emissions of companies belonging to the Japanese supply chains in the ASEAN region. The two companies will collaborate to promote GX talent development, leveraging Asuene's expertise in sustainability, particularly in decarbonization management, and Lexer Research's expertise in the manufacturing sector.

ASUENE and Lexer Research have signed a MoU for a Human Resource Development project aimed to train GX talent to drive GHG emissions reduction in the ASEAN region.

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Asuene is a climate-tech startup with the mission of "Changing the world for the next generation".
Asuene provides the following services: Asuene, a cloud-based climate platform for measuring, reporting and reducing carbon emissions ; Asuene ESG, a cloud service for ESG evaluation of supply chain procurement; and Carbon EX, a carbon credit exchange market for Net Zero. We support net zero and ESG management and contribute to the creation of a sustainable society.

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