JAKARTA — The Indonesian government is trying to downplay the potential environmental fallout from a recently passed slate of deregulation, prompting criticism from experts. Foreign investors have joined domestic groups — ranging from labor unions to university students to religious conservatives — in flagging concerns about the so-called omnibus law on job creation that parliament passed on Oct. 5. In a recent letter to the Indonesian government, a group that includes 35 global investors, managing a combined $4.1 trillion in assets, expressed worries that the new legislation will have damaging consequences for the environment. “Specifically, we fear that proposed changes to the permitting framework, environmental compliance monitoring, public consultation and sanctioning systems will have severe environmental, human rights and labor-related repercussions that introduce significant uncertainty and could impact the attractiveness of Indonesian markets,” the investors wrote in the letter. “We recognize Indonesia’s progress in protecting tropical forests in recent years, yet the proposed legislation could hamper these efforts.” Among their concerns is that the rollback of environmental protections might lead to greater deforestation, which is the main driver of Indonesia’s greenhouse gas emissions, and in turn jeopardize global efforts to mitigate climate change as called for under the Paris climate agreement. “Failure to achieve the goals of the Paris Agreement poses a very real threat to the future stability and health of economies and society,” the investors wrote. “Cutting emissions from land use change is key to meeting these goals and while Indonesia can play a pivotal role in this…This article was originally published on Mongabay Läs mer