ASPIRING TO tri hita KARANA MAKING TECHNICAL KNOWLEDGE A GLOBAL PUBLIC GOOD

In 2018 President Joko Widodo shared that the “… Indonesian government and Tri Hita Karana Forum envisage a *Global Blended Finance and Innovation Institute for Better Business Better World in Bali to scale up capacity building, policy research, and action labs for real solutions.” Blended finance provides the ability for the realization of transformative climate results through a combination of public, philanthropic and private actors, the available capital makes impact investment opportunities promising financially for investors and addresses real local and regional challenges at a level of meaningful scale.

Tri Hita Karana Center of Future Knowledge offers the technology collaboration platform to attract local and global talents, corporates and innovators to solve climate and sustainable development challenges under the New Era Bali Kerthi Economic Roadmap.

The process of standardization is contingent on and promotes collaboration. It lowers barriers and costs to innovation, allows for greater market penetration and better returns on investment. In particular, the IEEE Standards Association enables technical and socio-technical consensus outcomes through its well governed, market-driven, globally open process. These outcomes result in local, regional, and global economic benefits through adoption and implementation of the standards, while offering scalability opportunities across geographies and markets.

sustainable manner. Moreover, this approach, when coupled with access to neutral technical expertise and appropriate technical roadmaps, blueprints, architecture diagrams, bills of materials, would create a kind of Climatech Knowledge Commons. This specific blend of innovation and proper financing would

Note: (*) now referred to as the Global Blended Finance Alliance eventually make reality the vision to “unite in diversity for our better world”. These necessary capacity building initiatives will be enabled through investments in systems and processes facilitating access to knowledge. The Future Knowledge framework identifies the interoperable gaps that could create a dynamic shift toward an “ecosystem mode”. For example, a climatech or public health knowledge commons would create strategic ecosystem options, capable of scaling both knowledge and its proper application in order to meet SDG goals. There is evidently an urgent need for a science of governance approach, including the opportunity for standardized and interoperable implementations and sharing of practices. This would also enable the development of policies that support and incentivize private sector and markets toward a better business, better world behavior. The combination of all these tools creates an environment that can truly move the needle towards a Tri Hita Karana world, inspired by the Bali Kerthi philosophy and practice.

Kominfo is exploring a partnership with McKinsey to develop a Roadmap document for Bali Digital Hub. The Roadmap is expected to complete by end of September 2022.

Kominfo is exploring a partnership with McKinsey to develop a Roadmap document for Bali Digital Hub. The Roadmap is expected to complete by end of September 2022.

Building on OECD DAC Tri Hita Karana Roadmap on Blended Finance, G20 countries can strengthen these principles through data traceability standards and – more generally - through an open and inclusive approach to data governance. This would support the Tri Hita Karana human-centric principles, which could be applied more generally to address the situation of developing, least developed countries and archipelagic island states. In particular, standardization of data and associated technology platforms will increase the probability of helping advance critical infrastructure projects with the help of Blended Finance in a scalable and

Engagement with the Key Stakeholders

Collision Workshops: Prioritize focus topics (2-3 workshops)

Taking the insights from deep structured interviews into Collision workshop to empathize with stakeholders and prioritize the core needs and value to them, resulting in 10-15 focus needs to be addressed.