Green Sukuk Bond
Following the development of their first NDC, the Indonesian Government, in collaboration with UNDP, developed the world's first 'Green Sukuk', or Sharia-compliant bonds to finance climate change mitigation and adaptation. This emerged after an extensive budget tagging process that identified and assess the climate benefits of projects undertaken by line ministries. The proceeds of the Green Sukuk have supported the construction of over 690 kilometres of railway tracks; an increase of 7.3 million kWh of electricity capacity; and improved solid waste management for more than 5 million households - and sequestered 8.9 million tonnes of CO2e.
Outputs: Funding and Financing
Outcomes: Localize Climate Finance
Target actors: State/Provincial Goverment, Local Goverment
Complete / Discontinued

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