Largest Green Sukuk in 2022

Awarded to: 
The Republic of Indonesia

Indonesia's green sukuk is the world’s first sovereign green sukuk - an innovative financial instrument to support Indonesia’s commitment to GHG emissions reduction based on Islamic Law principles. Guided by the Green Bond and Green Sukuk Framework, which has been upgraded to the SDGs Government Securities Framework in 2021, proceeds from the USD1.25bn green sukuk are used to finance/refinance eligible green projects in Renewable Energy, Sustainable Management of Natural Resources, Energy Efficiency, Resilience to Climate Change for Highly Vulnerable Areas and Sectors/Disaster Risk Reduction, Green Buildings, Sustainable Transport, and Waste to Energy & Waste Management.

“Indonesia has proven a strong commitment at the global level to climate change issues and seeks to integrate climate resilience considerations into various fiscal policies and public financial management processes.”

- Sri Mulyani Indrawati, Minister of Finance, Republic of Indonesia