Jakarta, July 1 -- Indonesia is stepping up efforts to diversify its climate financing instruments as it seeks to mobilise about 800 trillion IDR (nearly 50 billion USD) a year to achieve its net-zero emissions target by 2060, according to a senior finance official.

Acting Director General of Financial Sector Stability and Development at Indonesia's Ministry of Finance Herman Saheruddin said the country is building a comprehensive climate finance ecosystem involving both the public and private sectors while expanding cooperation with international financial institutions to support its green transition.

Herman said the government is promoting a broad range of financing instruments in addition to state and regional budgets. These include ...