Indonesia's Green Bonds Reach US$6.3 Billion, Majority Held by Government

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Reza Pahlevi 23/03/2022 12:30 WIB

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69%, or US$4.3 billion, was raised from the issuance of green bonds by the government.

Green Bond Issuance in Indonesia by Issuer (2018-2021)

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Indonesia's Green Bonds Reach US$6.3 Billion, Majority Held by Government

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Green Bond Issuance in Indonesia by Issuer (2018-2021)

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According to Climate Bonds Initiative (CBI) data, from 2018 to 2021, green bond issuances in Indonesia raised US$6.3 billion.

The largest amount was raised from government green bond issuances, totaling US$4.3 billion, or 69% of the total funds raised.

Besides the government, three private entities have issued green bonds for green projects in Indonesia: Star Energy, Bank OCBC NISP, and Tropical Landscape Finance Facility.

Star Energy's green bond issuance raised US$1.69 billion, used to fund the Wayang Windu and Darajat II geothermal power plants in West Java.

Bank OCBC NISP's green bond raised US$150 million, while Tropical Landscape Finance Facility raised US$96 million.

CBI assesses that Indonesia's green bond market continues to grow, although issuers often face challenges in the pre- and post-issuance stages.

According to CBI, issuers still struggle to find local external reviewers, performance report writers, and others, relying heavily on international institutions and universities for these tasks.

On a broader scale, green bond issuances in Southeast Asia raised US$29.4 billion in 2020, a significant increase from US$5 billion in 2018.

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."