The Development of Green Investment and Its Policies in The Regulation of The Indonesian Government

Abstract

Green investment is essential in protecting the environment from damage caused by non-green economic activity, including non-green investment. The development of green investment in Indonesia is still slow. Indonesia still uses massive non-renewable resources in addition to renewable resources. Indonesia still has difficulty increasing green investment uses because of its high dependency on non-green investment. The funds issued by the government for non-green investment are more than the fund for green investment. The government uses various ways to increase green investment through green programs and rules. The government needs to implement the right policies so Indonesia’s green investment can run as well as expected. This study aims to examine the development of green investment in Indonesia and the green investment policies in the regulation of the Indonesian government amid current economic growth. This research uses normative legal research methods. Provisions that are the basis of green investment include the 1945 Constitution of the Republic of Indonesia, Law Number 25 of 2007 on Investment, Law Number 16 of 2016, and Presidential Regulation of the Republic Indonesia Number 16 of 2012. The policymaking of green investment can refer to the degrowth and modernization of the policy. It can be seen to refer to the ideas presented by George C.