“Explainer: The progress and challenges of sustainable financing in Indonesia– The Jakarta Post – April 14, 2020

On April 14, 2020 The Jakarta Post published an article that explores the challenges, milestones and progress towards establishing a sustainable finance system in Indonesia.

Some milestones include the following:

“In December 2014, the Financial Services Authority (OJK) published a Roadmap for Sustainable Financing in Indonesia, which lays out much of the agenda’s development framework. Three years later, it issued the OJK Regulation (POJK) No. 60/POJK.04/2017 which set out the standard for green bonds issuance in the country. Last year (2019), it appointed eight banks to start channeling loans based on the principle of sustainable financing.

Other stakeholders have also taken part in the agenda. The Finance Ministry issued a green Islamic bond (sukuk) in February 2018 and put Indonesia on the map by becoming the first Asian country to do so. The bond raised $1.25 billion and was used to fund several environmentally friendly projects. The ministry issued another one in February 2019 worth around US$2 billion.”

You may read the article on The Jakarta Post internet site.