GoTo secures $150M from IFC to propel sustainability effort

Indonesia's GoTo continues to break new ground in the digital world, securing an investment of $150M from the International Finance Corporation (IFC). This partnership aims to propel the digital economy towards greater inclusivity and sustainability.

Key elements of the collaboration include:

• Shared Values and Vision: The partnership between PT GoTo Gojek Tokopedia Tbk and the IFC is rooted in a shared commitment to Environmental, Social, and Governance (ESG) goals, financial inclusivity, and eco-friendly practices.

• Democratization of Digital Economy: Together, they aim to democratize the digital economy by providing more Indonesians access to digital services.

• Addressing Critical Issues: The collaboration seeks to tackle financial inclusion and climate change, two pressing global challenges. With a staggering 97 million adults in Indonesia unbanked, the partnership will address this issue head-on. Moreover, it will aid GoTo in adopting sustainable business practices, like transitioning to electric vehicles.

• Investment Allocations: The $150M investment breakdown includes $125M from the IFC and an additional $25M from private investment firm Franke & Company. These funds will be directed towards bolstering working capital and numerous ESG initiatives like renewable energy adoption and waste reduction.

• GoTo's Commitment to 'Three Zeros': GoTo is unwavering in its mission to achieve 'Zero Emissions', 'Zero Waste', and 'Zero Barriers' by 2030. They have been demonstrating this commitment through their recent electric vehicle trials in South Jakarta, and a shift to renewable energy in operations.

GoTo's overarching vision is to "empower progress" by creating technology that benefits all players in the digital economy. Their extensive ecosystem includes on-demand services, e-commerce, fintech, and logistics.