Indonesia mines the minerals every EV battery needs, yet that resource wealth alone has not been enough to earn investor confidence. INTRA Institute explores what shapes those decisions through interviews with institutional investors and stewardship consultants. While capital remains concentrated in upstream mining and mineral processing, EV manufacturing faces policy uncertainty, limited independent verification, and ESG that is often treated as a compliance checkbox. The report examines what it could take to bridge that gap: verified transparency, sector-specific certification, and ESG embedded in corporate strategy.