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Indonesian Stocks Plunge as MSCI Threatens to Drop Market from Indexes

16 October 2026 at 11:30
The potential downgrade by MSCI, an influential index provider, adds to a deepening crisis of investor confidence in the economic policies of Indonesian President Prabowo Subianto.

© Ajeng Dinar Ulfiana/Reuters

An display at the Indonesia Stock Exchange in Jakarta on Friday.

Revealed: VW, Ford and Tesla batteries linked to destructive deforestation of indigenous lands

Mines in supply chains of western carmakers linked to widespread deforestation of primary rainforest in nickel-rich lands inhabited by Tolaki people in Indonesia

Volkswagen, Ford and Tesla are among the electric carmakers whose batteries may contain nickel mined in indigenous woodlands plagued by deforestation, an analysis has found, highlighting the struggle to make vehicles that are free from environmental destruction.

Corporate disclosures and trade flows from the last two years show mines in the battery supply chains of automotive giants are linked to the loss of trees in Sulawesi, a wildlife hotspot in Indonesia that houses the world’s largest nickel deposits. The metal is widely used in cathodes in car batteries because it boosts energy density and increases range.

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© Photograph: Didi Hardiana, NGO Puspaham

© Photograph: Didi Hardiana, NGO Puspaham

© Photograph: Didi Hardiana, NGO Puspaham

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