Citing a Climate Bonds Initiative report, the Indonesian government successfully raised US$4.33 billion, or approximately Rp62 trillion, through the issuance of green bonds between 2018 and 2021.
This green bond issuance includes green sukuk, both retail and global. The last green bond issuance was in the form of retail sukuk in November 2021.
Specifically, the government raised US$1.25 billion through global green sukuk in 2018. This amount decreased to US$848 million in 2019.
In 2020, funds raised from green bonds increased to US$1.13 billion, before slightly decreasing to US$1.1 billion in 2021.
The funds raised from these instruments are claimed to be used for green infrastructure development, encompassing green energy (geothermal, solar, hydropower, and others), public transportation, water provision, and sustainable waste management.