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All Journal International Journal of Humanities Education and Social Sciences The International Journal of Financial Systems
Faturohman, Taufiq
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Humanities Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences Other

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Climate Change as a Business Risk: An Indonesian Banking Industry Perspective Puspitasari, Indah; Faturohman, Taufiq
International Journal Of Humanities Education and Social Sciences (IJHESS) Vol 4 No 3 (2024): IJHESS DECEMBER 2024
Publisher : CV. AFDIFAL MAJU BERKAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55227/ijhess.v4i3.1369

Abstract

Climate change has emerged as a new business risk that must be carefully evaluated, forecasted, mitigated and managed by all corporate organizations, including banks. Climate change has a profound effect on finance and business continuity, so all sectors, including the financial industry, must plan for it. In June 2022, the Basel Committee on Banking Supervision (BAS) announced general principles for banks around the world to manage and supervise climate change risks, entitled “Principles for the Effective Management and Supervision of Climate-Related Financial Risks”. Managing Climate-Related Financial Risks requires an acceptable management structure and information tools that can be used by banks to monitor, measure and manage asset portfolios affected by Climate-Related Financial Risks. In addition, this research also aims to assess the readiness of Indonesian banks in implementing an effective BCBS management framework for climate change-related financial risks. This research utilizes a qualitative research type. The research methodology used in this study is to use in-depth and semi-structured interviews to obtain narratives and subjective reflections from the participants. The main purpose of the interviews was to uncover significant meanings and structures inherent in their professional experiences. By using a sample method involving regulators and selecting banking executives who specialize in risk management. The results of this study provide an explanation of the perspective of Indonesian banks in dealing with business risks due to climate change, OJK's policies related to banking risk management due to climate change, OJK's response to the possibility of adopting an effective management framework for financial risks related to climate change developed by the BCBS in terms of, Bank Indonesia's Perspective on the Integration of Climate Risk into Macro Prudential Supervision, Impact on Financial Stability and Economic Resilience, and Policy Recommendations, and Banks' readiness to implement an effective financial risk management framework for financial risks related to climate change based on the risk management framework developed by the Basel Committee on Banking Supervision (BCBS).
Climate Change as a Business Risk: : Perspective from Indonesia’s Banking Sector and Regulators Puspitasari, Indah; Faturohman, Taufiq
The International Journal of Financial Systems Vol. 4 No. 1 (2026)
Publisher : Otoritas Jasa Keuangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61459/ijfs.v4i1.87

Abstract

Climate change is increasingly recognized as one of the most significant risk that impacts economic stability and the financial system, particularly banking. Although several studies have examined climate change as one of the significant risks that must be considered in the banking business, these studies are generally conducted in developed countries. In developing countries, research on this topic is still relatively limited. This study examines how leading Indonesian banks perceive climate change as a business risk and evaluate their preparedness to align climate risk into their risk management concept, and analyze the regulatory responses from the Financial Services Authority and Bank Indonesia. This research designed as a qualitative study and using a semi-structured interviews with executives form eight major commercial banks and key regulators as respondents. This study uses thematic analysis to identify key patterns in institutional readiness and challenges. The findings indicate that although banks demonstrate a strong awareness of climate-related risks, there are still significant gaps in data availability, methodological tools, and regulatory standardization. Furthermore, the research findings highlight the structural gap between international frameworks and domestic implementation capacity. This study provides three main contributions to the literature. First providing empirical evidence from the banking sector in developing countries, particularly Indonesia. Second, presenting an integrated perspective between banks and regulators in viewing climate risk. Third, identifying the main implementation gap between international standard under Basel Committee on Banking Supervision (BCBS) framework and readiness of Indonesian banking sector.    
Co-Authors INDAH PUSPITASARI