Decarbonization is one of the policies, strategies, and efforts the Indonesian government can take to achieve the net zero emissions target by 2060 or sooner. The efforts include producing low-carbon emission hydrogen, which could play an essential role in decarbonization in the industrial and transportation sectors. Nuclear cogeneration can be an alternative technology and investment strategy for low-carbon emission hydrogen production. In investment planning, it is necessary to design a financial model that is a stakeholder decision-making tool. This study aims to identify important factors, actors, stakeholders, goals, and their relationships using a systematic framework based on a soft system methodology. This identification is essential to ensure a better understanding of the problem’s systems, leading to a better model and decision-making, especially with relatively new technology and topics of its kind in Indonesia.