Irma Maria Dulame
Department of Management, STIE Bhakti Pembangunan, Jakarta, Indonesia

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Green Economy and Sustainable Finance as Pillars of Indonesia’s Economic Resilience Toward a Developed Nation by 2045 Wedia Hastuti; Irma Maria Dulame; Daniel Susanto
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 4 No. 2 (2026): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v4i2.563

Abstract

The global shift toward a sustainable economy and finance is essential to address climate change and 21st century uncertainties. While existing studies extensively cover green growth in developed economies, there remains a critical gap in understanding how integrated sustainable finance frameworks specifically catalyze economic transformation in emerging markets like Indonesia, particularly within the context of its 2045 vision. This research addresses this gap by assessing the role of green economy implementation and sustainable finance policies as key pillars in strengthening Indonesia’s economic resilience. Employing a qualitative descriptive approach grounded in a comprehensive review of policy reports, international comparative studies, and recent scientific literature, this study offers a novel synthesis of energy transition, digital transformation, and sustainable financial systems. The research contributes by identifying a strategic roadmap that bridges government policy, private sector participation, and technological innovation to achieve long-term resilience. The findings indicate that green investment, renewable energy, and ESG based financial systems are not merely environmental goals but are fundamental drivers of economic stability and national competitiveness. Furthermore, this study demonstrates how sustainable funding tools, such as green bonds and climate finance, can accelerate socio-economically inclusive growth while reducing carbon intensity. The study concludes that the synergy between institutional frameworks and innovative human capital development is the primary determinant of Indonesia’s capacity to achieve sustainable prosperity and reach developed nation status by 2045.
Bridging Disclosure and Value: The Mediating Role of ESG Performance in Indonesian Manufacturing Firms Wedia Hastuti; Lies Hendrawan Krisnawati; Irma Maria Dulame; Muslimah Muslimah; Tukidi Tukidi
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 4 No. 3 (2026): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v4i3.847

Abstract

This research seeks to empirically analyze and assess how Environmental, Social, and Governance (ESG) performance acts as a mediator in the structural linkage between sustainability reporting and corporate value, focusing on manufacturing firms listed on the Indonesia Stock Exchange (IDX) from 2020 to 2025. Amid escalating global demands for corporate transparency and the enforcement of national sustainable finance mandates, notably POJK No. 51/POJK.03/2017, understanding the economic efficacy of non-financial disclosures is paramount. Utilizing a quantitative explanatory framework, this paper analyzes secondary panel data from a balanced sample of 45 manufacturing companies meeting strict disclosure requirements. Data analysis and hypothesis evaluation were performed through Partial Least Squares Structural Equation Modeling (PLS-SEM) utilizing SmartPLS software. The empirical results demonstrate that sustainability disclosures have a direct, positive, and statistically significant impact on both operational ESG performance and market valuation indicators. Furthermore, the analysis confirms that ESG performance functions as a vital partial mediator, demonstrating that sustainability disclosures translate into maximized shareholder wealth and market capitalization more effectively when they are genuinely underpinned by substantive internal operational improvements. Theoretically, these outcomes reinforce stakeholder theory and signaling theory within emerging market economies. Practically, the insights provide strategic guidance for corporate management to prioritize authentic sustainability execution over superficial compliance, assist institutional investors in refining fundamental risk assessments, and offer actionable frameworks for regulatory authorities.