A team of lecturers from the Faculty of Economics and Business (FEB) and the Faculty of Engineering (FT) at Yogyakarta State University (UNY) has won the 2024 Bank Indonesia Research Grant. The team developed an innovative greenwashing detection system using artificial intelligence (AI). Led by Dr. Ratna Candra Sari, S.E., M.Sc., CA., CFP., IFP., CSRS. (FEB UNY), the team includes Annisa Ratna Sari, S.Pd., M.S.ED. (FEB UNY), and Dr. phil. Nurhening Yuniarti, S.Pd., M.T. (FT UNY). Their research proposal stood out among 34 finalists in the 2024 Bank Indonesia Research Grant (RGBI), securing the grant after a rigorous selection process.

RGBI is a research grant program from Bank Indonesia, aimed at supporting strategic and pioneering research. It focuses on projects conducted by external researchers that align with topics identified as priorities by Bank Indonesia.

The team's research centers on "Artificial Intelligence to Detect Greenwashing in Increasing Green Financial Inclusion." Dr. Ratna Candra Sari explains, “Greenwashing is when companies misrepresent their environmental or social efforts, often highlighting positive actions without disclosing negative impacts.” This creates a disconnect between what companies claim regarding their environmental, social, and governance (ESG) practices and their actual performance—a critical issue in today’s sustainability-focused era. To address this, the team is developing an AI-based algorithm capable of identifying signs of greenwashing in corporate sustainability reports.

Their research aims to contribute significantly to promoting sustainable business practices in Indonesia. Beyond this, the achievement of these lecturers underscores UNY's dedication to advancing research that aligns with societal and environmental needs.

Bank Indonesia’s research grant is part of the institution's commitment to fostering innovation with the potential to drive sustainable development. With such support, the hope is to develop more innovative solutions to meet the environmental challenges of our time. (Astri)