Analytical notes on ESG measurement, climate risk, disclosure regulation, and capital allocation in emerging markets.
12 August 2026
Text-based climate exposure measures were built on English earnings calls. In a bilingual market with a different disclosure architecture, they miss precisely where the transition risk sits.
4 July 2026
Pillar-level rating data for the four largest Indonesian banks: Environmental scores from negligible to very low alongside financed emissions in the tens of millions of tonnes, and why the risk-rating defense does not close the gap.
2 July 2026
A before-and-after reading of Indonesia’s four largest banks’ sustainability reports: what POJK 51 genuinely changed, and the gap it left between disclosure and capital allocation.