Indonesian Chamber of Commerce and Industry taps AC Ventures’ ESG head to join task force
Published on December 14, 2022
The Indonesian Chamber of Commerce and Industry (KADIN) recently tapped AC Ventures’ (ACV) Head of ESG, Lauren Blasco, to join its newly formed ESG task force, an elite group of stakeholders in the nation that was assembled and launched on the sidelines of the recent B20 Summit in Bali in November 2022.
This group of high-profile corporate figures and business leaders has been asked to spend the next 12 months crafting and proposing a sector-agnostic roadmap that will help set the rules for ESG standards and compliance nationwide.
The task force is comprised of corporates, which cover the operationalization and implementation of ESG; investors, who serve as an important driver for companies in integrating ESG best practices; and auditors to ensure outputs are in line with assurance-ready requirements for reporting and disclosures.
In the context of a more sustainable future in Indonesia, one of the most prominent and formalized goals the country has is a pledge to reach net zero carbon emissions by 2060. KADIN’s task force will develop a policy package that would ensure a single, universal standard for carbon measurements, reporting, offsetting, and mitigation nationwide.
Other companies involved in the task force include names like GoTo Group, Lippo Group, TBS Energi, Indika Energy, Electrum, Modalku Group, Bukalapak, Utomo SolarUV, Pertamina, Triputra Agro Persada, Go-Ventures, and two of the top five global auditing firms.
A big part of what the group will do is create and publish a digital repository of ESG-related resources and references filtered for relevance within the Indonesian private sector. The idea is that this repository will serve as an introductory overview of ESG for companies that are just beginning their sustainability journeys. It will offer practical steps, credible best practices, and simple performance indicators to help businesses take proactive steps toward ESG implementation.
“I am honored and excited to get to work with KADIN on this roadmap that will ultimately give Indonesian businesses a clear and definitive guideline on how to report on ESG. It will help them know precisely what and how to report and how to get better as the years move forward,” explained Lauren Blasco of ACV. “The formation of this task force is a clear step in the right direction and I strongly believe Indonesia now has the chance to propel Southeast Asia to the same level of ESG responsibility as regions like northern Europe.”
Adrian Li, Founder and Managing Partner of ACV, said, “We brought Lauren onto our team at ACV earlier this year because we recognized that she is one of the leading authorities on ESG, impact, and what it means for the investment landscape. Having her join KADIN’s task force reinforces this and puts ACV in a position to work hand-in-hand with the government on policies that make sense and will drive the nation toward a more sustainable and equitable future.”
ACV Founding Partner Pandu Sjahrir, also KADIN’s Vice Chairman & Head of Digital, added, “If Indonesia is going to reach its ambitious sustainability goals, we are going to need the most talented and serious practitioners and the most important stakeholders from the national economy to take part in the discussion. I’ve seen firsthand Lauren’s ability to simplify complex issues and turn abstract ideas into clear policy recommendations. I believe she will be a valuable voice representing investors on KADIN’s ESG-focused task force.”
In partnership with Boston Consulting Group, ACV recently published the most in-depth, data-driven impact report to date on Indonesia’s tech ecosystem and digital economy. Lauren partnered with The Upright Project in Finland and used its proprietary platform to measure the portfolio’s impact on the environment and society. Overall, the venture firm and its portfolio delivered an above-average result of +37% compared to the Nasdaq Small Cap Index’s +29%.
To access the full report, please visit: https://acv.vc/impact-report-2022/