Legal transplantation of blue bond regulation in Indonesia

IF 4.7 2区环境科学与生态学 Q2 ENVIRONMENTAL SCIENCES

Environmental Development Pub Date : 2024-11-23 DOI:10.1016/j.envdev.2024.101118

Budi Endarto , Dwi Elok Indriastuty , Fitra Mardiana

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引用次数: 0

Abstract

As one of the largest archipelagic states in the world, Indonesia has a maritime economic potential of IDR 2026 trillion divided into coastal (IDR 650 trillion), biotechnology IDR (480 trillion), fisheries (IDR 380 trillion), petroleum (IDR 252 trillion), marine transportation (IDR 240 trillion), and marine tourism (IDR 24 trillion). However, it does not yet have a special and specific financing instrument oriented toward the development of its marine economy. The purpose of this study was to identify a blue bond regulatory model as an instrument for developing the blue economy in Indonesia. The study method employed is normative-exploratory legal research, which combines statutory, conceptual, and comparative approaches. Using several models of legal development, namely unification, harmonization, and transplantation, revealed the right model for regulating blue bonds in Indonesia. The results indicate that the development of legal arrangements in Indonesia, as stated in the National Long-Term Development Plan (RPJPN) 2025–2045 oriented towards realizing economic transformation to increase the productivity of the blue economy will be a future economic booster in line with its role as the world's maritime axis. Thus, legal transplantation of the Blue Economy Act and SEC Memorandum Circular No. 15, Series of 2023, Guidelines on Eligible Blue Projects and Activities for the Issuance of Blue Bonds in the Philippines is an effective step that can be taken in Indonesia.

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来源期刊

Environmental Development Social Sciences-Geography, Planning and Development

CiteScore

8.40

自引率

1.90%

发文量

审稿时长

74 days

期刊介绍： Environmental Development provides a future oriented, pro-active, authoritative source of information and learning for researchers, postgraduate students, policymakers, and managers, and bridges the gap between fundamental research and the application in management and policy practices. It stimulates the exchange and coupling of traditional scientific knowledge on the environment, with the experiential knowledge among decision makers and other stakeholders and also connects natural sciences and social and behavioral sciences. Environmental Development includes and promotes scientific work from the non-western world, and also strengthens the collaboration between the developed and developing world. Further it links environmental research to broader issues of economic and social-cultural developments, and is intended to shorten the delays between research and publication, while ensuring thorough peer review. Environmental Development also creates a forum for transnational communication, discussion and global action. Environmental Development is open to a broad range of disciplines and authors. The journal welcomes, in particular, contributions from a younger generation of researchers, and papers expanding the frontiers of environmental sciences, pointing at new directions and innovative answers. All submissions to Environmental Development are reviewed using the general criteria of quality, originality, precision, importance of topic and insights, clarity of exposition, which are in keeping with the journal''s aims and scope.