• Latest
  • Trending
Indonesia set to join green bond club

Indonesia set to join green bond club

February 23, 2018
Facebooks bikini girls

Facebooks bikini girls

April 6, 2021
U.S. official: Washington to consult closely with allies on North Korea policy

U.S. official: Washington to consult closely with allies on North Korea policy

April 5, 2021
Militants attack military bases in southern Somalia

Militants attack military bases in southern Somalia

April 5, 2021
Oxfam suspends 2 aid workers under investigation in DRC

Oxfam suspends 2 aid workers under investigation in DRC

April 4, 2021
China Intends to Occupy More Disputed Areas, Philippines Says

China Intends to Occupy More Disputed Areas, Philippines Says

April 4, 2021
China: Defense budget to grow by 6.8 % to maintain upgrades

China: Defense budget to grow by 6.8 % to maintain upgrades

March 6, 2021
Pakistan PM: Will sit on opposition benches if loses confidence vote

Pakistan PM: Will sit on opposition benches if loses confidence vote

March 5, 2021
Pakistan: Maryam Nawaz prevails in elections

Pakistan: Maryam Nawaz prevails in elections

March 5, 2021
Putin May Have Triggered an Attempted Coup in Armenia

Putin May Have Triggered an Attempted Coup in Armenia

March 1, 2021
Karma the Hollywood curse

Karma the Hollywood curse

March 1, 2021
Hyatt Hotels responds to calls for boycotts over hosting CPAC

Hyatt Hotels responds to calls for boycotts over hosting CPAC

March 1, 2021
Explosion strikes Israeli ship in Mideast raises tension

Explosion strikes Israeli ship in Mideast raises tension

February 28, 2021
citizendaily
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
Monday, April 12, 2021
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
citizendaily
No Result
View All Result

Indonesia set to join green bond club

February 23, 2018
in Asia News, Economy, Indonesia
0
Home Asia News
Post Views: 385

 

Indonesia, the world’s biggest exporter of coal used to generate power, is set to become the first Asian country to sell green bonds, underlining the tension in the nascent but fast-growing market.

Indonesia is selling a five-year, dollar-denominated sukuk bond, which is structured to comply with Islamic law, that offers a coupon of 4.05 per cent.

It is the latest country to plan a bond whose proceeds have to be used for environment-friendly projects.

RelatedPosts

SCS : Indonesia on high alert after appearance of Chinese vessel

Indonesia’s ‘Soft Approach’ Vetoed by US, So What’s Next?

In Southeast Asia, COVID-19 Slowly Tightens Its Grip

E-wallets in Southeast Asia won’t stop burning cash

Anti-China coalition: US wants to put a bridle on China in Southeast Asia?

Poland, which generates 80 per cent of its energy from coal, is a pioneer in the market and last month became the first country to sell two green bonds.

The dilemma for investors with the likes of Indonesia, which relies on coal for more than half of its electricity production and is the fifth-largest emitter of greenhouse gases in the world, is how seriously to take its environmental ambitions.

One banker involved in the deal said Indonesia’s green credentials were “better than Poland’s”.

The process of raising green finance can be a way for governments to force their ministries to implement environmental assessments for the projects they finance, he added.

The Indonesian government has said it wants to boost the share of renewables to more than 20 per cent by 2026, from the current level of less than 3 per cent.

Indonesia is also a large producer of palm oil and copper, and has the second-largest copper mine in the world at Grasberg.

“Indonesia’s climate policy is a contradiction — an apparent mismatch between a plan to have renewables play a stronger role in its energy mix, while simultaneously locking in a large and growing role for coal, which will lead to continually rising emissions,” noted the independently run Climate Action Tracker website, which tracks countries’ actions to reduce carbon emissions.

Indonesia’s move is the latest evidence of robust investor demand in the rapidly expanding market for environment-friendly finance.

The proceeds of green bonds are allocated to climate or environment-related projects, such as renewable energy, sustainable transport, waste management and green buildings.

“It is a very interesting green bond as they are using their existing infrastructure for Islamic finance, and the areas in which they are going to be investing — climate mitigation and climate resilience — are interesting,” said Felipe Gordillo, a senior analyst at BNP Paribas Asset Management.

Recommended The green arm of the law When finance becomes a beneficiary of the green agenda Environmental qualms cloud Poland’s green bond sale The market for green finance has grown rapidly in recent years, with issuance reaching a record $155bn in 2017, according to Moody’s.

The credit rating agency forecasts global green bond issuance will surpass $250bn this year.

It expects emerging market issuers, sovereigns, municipals and green securitisations will be “important engines of growth.

” France issued €7bn of green bonds in January last year, while Fiji became the first emerging market to launch a green bond in October with a $50m deal.

Belgium is expected to bring its inaugural green bond to the market shortly.

Sovereign green bond issuance is “on course to reach critical mass in 2018”, according to Matthew Kuchtyak, a Moody’s analyst.

“China and India will be the leaders among emerging markets, though issuance will increase in other countries as governments look to implement green finance policies.”

A number of factors are set to support the growth of the market, including the benefit for governments in signalling their commitment to the Paris climate agreement through green bond issuance.

Citigroup, CIMB, Dubai Islamic Bank PJSC, HSBC and Abu Dhabi Islamic Bank acted as bookrunners on the deal.

Source :
Financial Times
Tags: Coalgreen bondsIndonesia
Previous Post

Indonesia’s President Paid $800 to Keep a Limited-Edition Metallica Album

Next Post

Indonesia joins China and South Korea on US trade hit list

Related Posts

Facebooks bikini girls
Asia News

Facebooks bikini girls

April 6, 2021
U.S. official: Washington to consult closely with allies on North Korea policy
ASEAN

U.S. official: Washington to consult closely with allies on North Korea policy

April 5, 2021
Militants attack military bases in southern Somalia
Asia News

Militants attack military bases in southern Somalia

April 5, 2021
Oxfam suspends 2 aid workers under investigation in DRC
Africa

Oxfam suspends 2 aid workers under investigation in DRC

April 4, 2021
China Intends to Occupy More Disputed Areas, Philippines Says
ASEAN

China Intends to Occupy More Disputed Areas, Philippines Says

April 4, 2021
China: Defense budget to grow by 6.8 % to maintain upgrades
Afghanistan

China: Defense budget to grow by 6.8 % to maintain upgrades

March 6, 2021
Next Post
Indonesia joins China and South Korea on US trade hit list

Indonesia joins China and South Korea on US trade hit list

Translate

Subscription

Popular Post

Facebooks bikini girls
Asia News

Facebooks bikini girls

April 6, 2021
0

  With Covid-19 hopefully soon behind us travel planning is not yet in full swing. This did not stop Asia’s...

Read more

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016

The Case Against Greenpeace

July 1, 2016
Children in ISIS Nusantara Media Outreach

Children in ISIS Nusantara Media Outreach

July 2, 2016
  • About Us
  • Creative Commons
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

citizendaily.news is part of the citizen Daily Media Group LLC, which delivers daily news around the globe. ​

© 2012 The Citizen Daily

No Result
View All Result
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports

© 2012 The Citizen Daily