Sep 08 2024 29 mins
As one of the most populous and rapidly developing nations, Indonesia faces unique sustainability challenges, from managing its natural resources to addressing social inequalities. Environmental, social, and governance (ESG) principles have become integral to the country's long-term growth and development strategy, as businesses and policymakers recognize the need to balance economic progress with environmental protection and social responsibility.
At the forefront of this movement are chief financial officers (CFOs), whose role has evolved beyond traditional financial management to encompass strategic decision-making and risk mitigation.
In Indonesia, CFOs are now expected to be sustainability champions, integrating ESG factors into their financial planning and reporting processes. This includes identifying and mitigating ESG-related risks, allocating resources towards sustainable initiatives, and communicating the company's ESG performance to stakeholders.
By aligning financial objectives with sustainability goals, Indonesian CFOs can help their organizations maintain a competitive edge, attract investment, and contribute to the country's broader sustainability agenda.
Joining us today on PodChats for FutureCFO is Yohanes Jeffry Johary, former CFO and now managing director at OCS Indonesia.
Questions:
1. Is sustainable growth a new initiative (in 2024) or something that has been a priority for many businesses in recent years? How is sustainable growth related to the other priority: cost efficiency?
2. Do you think the CFO is the best leader to drive the two goals: sustainable growth and cost efficiency? What qualifies a CFO to lead these two goals?
3. What would be the key metrics (financial and non-financial) that a CFO must focus on to drive sustainable growth and cost efficiencies?
4. How would CFOs integrate new initiatives like ESG and sustainability while driving positive sustainable growth and improving cost efficiency?
5. Name one key emerging strategy that CFOs can adopt to drive sustainable growth and cost efficiency in today's rapidly changing business environment?