Rethinking The Environment-Economy Nexus in Developing Country: Climate Finance Strategies for a Sustainable Mandalika SEZ

This study investigates the challenges faced by developing countries amid the current climate and energy crises, balanced against the imperative for economic growth. Utilizing qualitative methods, the research analyzes secondary literature from scholarly articles and policy documents, and conducts content analysis of various reports concerning the Mandalika Special Economic Zone (SEZ. Findings indicate that Mandalika SEZ meets the criteria for climate financing; however, significant issues such as funding shortages and trust deficits were identified. This study proposes a novel climate finance scheme promoting collaboration among stakeholders, including BPDLH, PLN, ITDC, SMI, DJP, philanthropic organizations, and international institutions. The scheme aims to collect and manage climate finance through green bonds, CSR funds, taxes, and grants. The study concludes that a robust climate finance scheme, supported by the smart application, can significantly enhance the project success and promote sustainable development, providing solution to the dilemma faced by developing countries.