Capital Owners and Impact Partners Roundtable Report 2026

Indonesia’s challenge is not simply mobilising more capital—it is making existing capital work better together.

We are pleased to launch the Capital Owners and Impact Partners Roundtable Report 2026, produced by Indonesia Impact Alliance in partnership with KINETIK—Australia Indonesia Partnership for Climate, Renewable Energy and Infrastructure, supported by DFAT. The report draws on insights from around 60 capital owners, intermediaries, and impact partners in Jakarta and Surabaya, and was shaped with the valuable support of our strategic collaborators: Asian Venture Philanthropy Network (AVPN), Perhimpunan Filantropi Indonesia (PFI), Indonesia Global Compact Network (IGCN), and Sarona Asset Management.

The report examines the structural barriers preventing domestic capital from reaching climate-aligned enterprises—including mandate constraints, pipeline mismatches, high transaction costs, and the absence of an effective intermediary layer. Its central message is clear: capital must be understood by its mandate, risk appetite, return expectations, and impact objectives—not merely by the institution that holds it.

Here are the key insights:

• The Core Challenge: Indonesia’s primary hurdle in impact finance is not simply mobilizing more capital, but making the existing capital work better together.
• Barriers to Climate Finance: Domestic capital struggles to reach climate-aligned enterprises due to structural roadblocks, including mandate constraints, pipeline mismatches, high transaction costs, and a missing intermediary layer.
• Redefining Capital: Capital should be understood and categorized by its mandate, risk appetite, return expectations, and impact objectives—not merely by the institution that holds it.
• Local Solutions Drive Real Results: Locally developed models are proving highly effective. For example, the Prokesra–BAZNAS model in East Java successfully blended government interest subsidies, commercial MSME lending, and faith-based capital to disburse over IDR 860 billion to 28,000+ borrowers, achieving a remarkably low 0.1% non-performing loan (NPL) rate.
• The Path Forward: The future of Indonesia’s impact finance relies less on importing foreign capital and more on strengthening local market infrastructure, empowering intermediaries, and improving coordination to drive shared domestic outcomes.