Implementation of Green Finance based on Blue-Green Infrastructure

Abstract

The global development agenda driven by the United Nations Sustainable Development Goals (SDGs)—specifically Goal 11 (Sustainable Cities and Communities) and Goal 12 (Responsible Consumption and Production)—prioritizes waste management in the pursuit of sustainable cities. At the local level, Metro City faces rising waste generation driven by population growth and economic activity, yet its management system remains dominated by the conventional "collect-transport-dispose" model. While initiatives such as waste banks and TPS3R (Reduce, Reuse, Recycle at Source) facilities have been implemented, challenges persist regarding infrastructure, institutional capacity, spatial planning integration, and funding limitations. This study aims to analyze and formulate a "blue-green development" policy model by integrating blue-green infrastructure (BGI) and optimizing green finance for waste management in Metro City. A qualitative research approach was employed, utilizing data collection methods such as in-depth interviews, field observations, and document analysis. The findings indicate that Metro City has not yet fully implemented BGI, as waste management efforts lack integration across the various managing units. Nevertheless, the city possesses existing policies that could serve as a foundation for future BGI implementation. Furthermore, Metro City is equipped with waste management infrastructure, including a final disposal site (TPA), TPS3R facilities, wastewater treatment plants (IPAL), and waste processing units (PDU). However, the development of green finance mechanisms for waste management has not progressed effectively; the government remains heavily reliant on the local budget (APBD) and has yet to maximize collaboration with the private sector.