Kendala Keuangan dan Kemampuan UKM Indonesia untuk Mengakses Keuangan Berkelanjutan untuk Adopsi ESG di Bawah Standar Perdagangan Internasional: Kasus Kulit Garut di Tahun 2025

Jan Hadi Putra, Prof. Gugup Kismono, MBA., Ph.D.

2026 | Tesis | S2 MANAJEMEN (MM) JAKARTA

Penelitian ini mengkaji bagaimana keterbatasan akses terhadap pembiayaan berkelanjutan memengaruhi adopsi ESG pada UKM industri kulit di Garut, Indonesia, di tengah meningkatnya tuntutan keberlanjutan dalam perdagangan internasional. Penelitian menggunakan metodologi Gioia dengan pendekatan studi multi-kasus kualitatif yang mencakup seluruh rantai nilai industri kulit.

Hasil penelitian menunjukkan bahwa praktik keberlanjutan pada UKM telahada, tetapi masih bersifat informal, tidak terdokumentasi, dan belum terintegrasi dalam kerangka ESG formal akibat rendahnya literasi keuangan, kapasitas manajerial, dan standar pelaporan ESG. Akses terhadap pembiayaan formal juga terhambat oleh keterbatasan agunan, pencatatan keuangan yang informal, serta tingginya persepsi risiko dari lembaga keuangan. Selain itu, rendahnya pemahaman mengenai pembiayaan berkelanjutan, lemahnya regulasi, dan minimnya dukungan kelembagaan semakin memperlambat adopsi ESG.

Penelitian ini mengidentifikasi tiga dimensi utama, yaitu paradoks operasional, eksklusi keuangan sistemik, dan inersia struktural, yang menjelaskan kesenjangan antara praktik keberlanjutan UKM dan akses terhadap pembiayaan formal. Studi ini menunjukkan bahwa pembiayaan berkelanjutan masih cenderung bersifat eksklusif bagi UKM di negara berkembang serta menekankan pentingnya dukungan ekosistem dalam mendorong adopsi ESG. 

This study aims how sustainable finance limitations shape adoption concerning environmental, social and governance (ESG) practices between small and medium-size leather enterprise (SMEs) in Garut, Indonesia. It explores these dynamics in the context of increasing sustainability requirements for international trade. The research conducts across the leather value chain, including livestock farming, tanning, manufacturing, retail, and repair services based on a qualitative multiple study using Gioia methodology. The research explores how sustainability practices arise, evolve, and interact with financial institutional and Government or Regulator conditions in an emerging-economy context.

Findings show that SMEs already engages in various sustainability practices but remain informal, undocumented and disconnected from formal ESG frameworks. Limited financial literacy, weak managerial capacity, and absence of ESG measurement and reporting prevent firms from formalizing these practices and communicating them to financial institutions. Simultaneously, access to formal financing is highly constrained due to inadequate collateral, informal financial and sustainability records, and also high perceived risk. Awareness and availability of sustainable finance instruments are still low, while weak regulatory enforcement and limited institutional support reduce incentives for ESG formalization.

Study identifies three aggregate dimensions: operational paradox, systemic financial exclusion, and structural inertia which collectively explain the decoupling between SME sustainability practices and access to sustainable finance. Building on findings, the study develop ecosystembased explanation of ESG adoption and proposes that sustainable finance currently functions more as an exclusionary filter than an enabling mechanism for SMEs in emerging-market supply chains.

This research contributes to the literature by identifying the informal stage of ESG adoption, emphasizing ecosystem-level constraints, and developing recommendation for future research on SME ESG transitions and sustainable finance. The study offers insights for policymakers, financial institutions, and development actors seeking to support SMEs’ participation in sustainability-driven global markets.

Kata Kunci : UKM, Adopsi ESG, Keuangan Hijau, Kendala Keuangan, Industri Kulit, Indonesia