UNDP is working together with Indonesia’s Financial Services Authority to promote sustainable finance and working closely with the Ministry of Finance to strengthen the public finance management for climate change. UNDP is also collaborating with the Ministry of Planning on preparing the institutional framework for the Sustainable Development Goals financing and testing innovative financing instruments such as blended finance using Islamic finance.
The Green Sukuk Initiative is one of the prominent examples of UNDP’s work with regulators toward innovative finance. The rising awareness of climate finance needs, the local expertise of the UNDP, and the establishment of trust from the Ministry of Finance were the strong foundations for UNDP’s involvement in assisting the green Sukuk work.
Welcome to this case study, “Pioneering Green Sukuk: The Technical Assistance of UNDP in Indonesia”, by Muhammad Didi Hardiana, Head of Innovative Financing Lab, United Nations Development Programme (UNDP) Indonesia.