United Nations Development Programme Encourages Indonesia to Issue Green Sukuk to Achieve Emissions Target

The United Nations Development Programme (UNDP) has stated that the key to Indonesia achieving its greenhouse gas emission targets is to take advantage of financing available in the market, including green Sukuk, according to local media reports.

According to Norimasa Shimomura, Head of Representative for the UNDP for Indonesia, who was speaking at a virtual discussion on the 11th of December 2020, the Government of Indonesia was targeting to reduce its greenhouse gas emissions by 29% on its own, and by 41% through international support by 2030, in accordance with the 2015 Paris Agreement.

Shimomura noted that the key to fulfilling the target was to use national, private, and public financing, in consideration of Indonesia’s funding requirements for climate cha...