Indonesia’s push for sustainable finance has made the Environmental, Social, and Governance (ESG) transparency a regulatory obligation under the Regulation of the Financial Services Authority (Peraturan Otoritas Jasa Keuangan/POJK) No. 51 of 2017. Large banks such as Mandiri, BRI, and BCA, have the resources to meet global reporting standards, turning sustainability disclosure into a competitive advantage that attracts investors and lowers capital costs. Smaller institutions, such as BPRs, cooperatives, and microfinance lenders face the opposite reality. Limited budgets, weak data systems, and lack of expertise make ESG reporting expensive and difficult. As a result, transparency creates a compliance divide: big players gain visibility and capital access, while small players risk exclusion from the sustainable finance ecosystem despite their important role in financial inclusion. The article argues that transparency has become a form of privilege. To prevent sustainability from becoming elitist, Indonesia needs proportional policies, such as simplified reporting requirements, shared digital reporting platforms, and evaluation based on real outcomes rather than lengthy reports. The goal is to make sustainability reporting inclusive, ensuring that all financial institutions can participate meaningfully.