Retail Green Sukuk ST009 Popular Among Millennials

Economics & Macro

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Adi Ahdiat 21/03/2024 16:32 WIB

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According to the Ministry of Finance's report, millennials constitute the majority of investors in the ST009 retail green sukuk.

Green Retail Sukuk ST009 Investor Proportions by Generation (2022)

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Retail Green Sukuk ST009 Popular Among Millennials

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Green Retail Sukuk ST009 Investor Proportions by Generation (2022)

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Green sukuk, also known as green bonds, are Sharia-compliant government securities or bonds.

Unlike conventional bonds, funds raised through green sukuk are exclusively used to finance environmentally friendly projects, such as public transportation development, renewable energy, waste management, and others.

Currently, the Indonesian government offers three types of green sukuk: Global Green Sukuk, Project-Based Green Sukuk, and Retail Green Sukuk.

Global Green Sukuk are issued for international investors. Project-Based Green Sukuk are issued for both individual and institutional investors, specifically to finance particular projects.

Retail Green Sukuk are specifically targeted at individual Indonesian citizens.

The ST009 series of retail green sukuk, issued in November 2022, proved most popular among millennials.

According to a Ministry of Finance report, over half, or 53.89%, of ST009 investors were from the generation born between 1981 and 1996.

Next, 26.7% of ST009 investors were from Generation X (born 1965-1980), and 16.28% were Baby Boomers (born 1946-1964).

Meanwhile, the proportion of ST009 investors from Generation Z (born 1997-2012) and Traditionalists (born 1922-1945) was significantly smaller, as shown in the graph.

The ST009 retail green sukuk has a minimum coupon or yield of 6.15% with a floating with floor system and a 2-year tenor. This series will mature in November 2024.

Based on data from the financial services company Bareksa, the ST009 yield rose to 7.4% during the period of November 2023-February 2024, in line with the increase in Bank Indonesia's benchmark interest rate to 6% starting in October 2023.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."