In the midst of a multidimensional crisis, namely the health crisis caused by the spread of coronavirus disease (covid-19), then its impact on the economy which caused the crisis to end in recession, and the environmental crisis, one of which is the climate crisis which is so worrying, makes the role of millennials as a group of people who are considered to be the bearers of change inevitable.
This is because many believe that millennials are a group of young people rich in ideas, thinking outside the box , and synonymous with innovation and change. Therefore, the leap to combat this multidimensional crisis will not be successful without a central role for millennials.
The notion that millennials possess the ability to bring about change has been recognized globally, as they have truly brought about significant disruption to today's global civilization. The most significant disruption in millennials' contribution to the global economy is none other than the use of technology, particularly financial technology ( Fintech).
In this regard, the Institute for Development of Economics and Finance (INDEF) and the Indonesian Fintech Joint Funding Association (AFPI) released research on the contribution of fintech peer-to-peer lending to the Indonesian economy. The research results indicate that fintech peer-to-peer lending, also known as online lending, has contributed IDR 60 trillion to Indonesia's Gross Domestic Product (GDP).
Fintech in Indonesia
In general, fintech , developed by startups, is so familiar to the public that it seems inseparable. Whether it's a company offering peer-to-peer lending or online lending, crowdfunding , personal finance , stock trading , or payment services, all are incredibly beneficial in daily activities. It's safe to say that there's virtually no crucial sector today that isn't touched by fintech.
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For example, if you want to travel short or long distances, you can directly contact online transportation providers like Go-Jek, Grab, Maxim, and many others. Meanwhile, if you want to travel between cities or simply relax (sightseeing), startups like Traveloka, Tiket.com, PegiPegi, and other platforms are ready to pamper you with convenience and, of course, competitive prices. Furthermore, fintech payment services like OVO, DANA, LinkAja, Go-Pay, Shopeepay, and various other brands are also actively offering promotions to increase the popularity of cashless transactions.
It doesn't stop there, if you are a shopping maniac, then online shopping alternatives through marketplaces such as Shopee, Tokopedia, Bukalapak, Blibli, and various other platforms can be said to be the best choice during the Covid-19 pandemic.
Fintech and the Environment
The current significant influence of fintech can be seen as concrete evidence that the millennial economy (millennialnomics) is truly reliable. However, many are beginning to question the contribution of millennials to sustainable development and economic development without damaging the environment.
In this regard, a surprising fact has surfaced. The results of a study from the Center for Oceanographic Research and the Indonesian Institute of Sciences (LIPI) stated that activities at home during the pandemic have increased the use of single-use plastics due to skyrocketing online shopping activities.
A study titled "The Impact of PSBB and WFH on Plastic Waste in the Greater Jakarta Area" revealed that people who usually shop online 1 to 5 times a month increased this to 1 to 10 times a month during the stay-at-home order. Furthermore, 96 percent of packages sent by sellers to consumers are always wrapped in thick plastic, even with bubble wrap added for additional protection. In the Greater Jakarta area itself, the amount of plastic waste from online shopping packages far exceeds the amount of plastic waste from packaging.
Because it's so uncontrolled, online shopping has a significant environmental impact. However, if properly explored with millennials, the opportunity to create an economy without damaging the environment is vast.
Ecological Understanding
It's undeniable that millennials' contributions to sustainable development, or more environmentally friendly development, or development that doesn't cause environmental damage, are still very minimal. Yet, millennials' knowledge of environmental issues, such as the climate crisis, forest and land fires (karhutla), renewable energy, and many other issues, is quite extensive.
A survey report released by the Bright Indonesia Foundation and Change.org Indonesia on the climate crisis in the eyes of young people found that 90 percent of young people (respondents) were concerned or very concerned about the impacts of the climate crisis, and none (0 percent) denied its impact. Top concerns included the water crisis, the food crisis, and other pandemics.
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Then, it was also stated that almost half of respondents saw deforestation and forest and land fires as the largest sources of greenhouse gas (GHG) emissions, a third of respondents mentioned exhaust fumes from motor vehicles and factories, and a fifth of respondents mentioned fossil fuel power plants as GHG producers.
Promoting an Ecological Millennial Economy
Adequate knowledge about environmental impacts should serve as a guide for millennials to encourage the realization of a more sustainable economy with various millennial styles themselves.
In my opinion, there are several important things millennials must do to achieve economic development without damaging the environment, in the millennial style. First , create eco-friendly lifestyle trends. It's a fact that millennials are always at the forefront of creating trends for society. In this regard, millennials must become trendsetters for eco-friendly lifestyles, such as using eco-friendly equipment or avoiding single-use plastics, creating a culture of not littering, developing habits to reduce motor vehicle emissions, and many other contemporary lifestyle habits.
Second , maximize the role of social media for environmental campaigns. Tech-savvy millennials are highly skilled at utilizing social media as a promotional tool. For example, in the case of forest and land fires, millennials can educate the public about them through vlogs, infographics, images, and more, to raise awareness that damaging the environment is very bad. This ability should also be used to promote to the public that protecting the environment is a must for everyone.
Third , develop environmentally-based startups. Because they excel in fintech development , millennials can explore environmental services businesses by leveraging current technology. These businesses could include waste management services such as waste banks, social entrepreneurship, social forestry, and tourism, among many other environmental businesses. All of this is certainly possible because environmental services are the business of the future.
It's well known that Indonesia enjoys one of the world's largest demographic dividends. Furthermore, this demographic will be largely comprised of highly productive millennials, driving forces for a better life. To realize dreams previously considered impossible, the role of millennials as the vanguard of change is crucial.
By: Delly Ferdian
Digital Media Specialist at the Madani Berkelanjutan Foundation
