Global Green Growth Institute and PT Bank Syariah Indonesia Tbk Establish Strategic Partnership to Advance Sustainable Finance Ecosystem Through Thematic Sukuk Development
A Green Leap for Sharia Finance: GGGI and BSI Partner to Fuel Indonesia’s Sustainable Future
The landscape of Indonesian finance is shifting. In a bold move to bridge the gap between Islamic principles and climate action, the Global Green Growth Institute (GGGI) and PT Bank Syariah Indonesia Tbk (BSI) have officially joined forces. This isn’t just a paperwork exercise; it is a strategic blueprint to transform how the world’s most populous Muslim-majority nation funds its “green” transition.
At the heart of this partnership is the Sustainability Sukuk a Sharia-compliant bond designed specifically to fund projects that protect the planet and empower communities.
Why This Matters: The IDR 3,990 Trillion Challenge
Indonesia has set ambitious climate targets: a 43.2% reduction in emissions by 2030 (with international help) and a path to Net Zero by 2060. However, ambition requires capital.
The financial reality is staggering:
- The Gap: Indonesia needs an estimated IDR 3,990 trillion by 2030 to meet its climate goals.
- The Barrier: While the government has successfully issued sovereign green sukuk, the private sector has largely remained on the sidelines.
- The Solution: By empowering BSI the nation’s leading Islamic bank this partnership aims to unlock private capital and prove that “Green” and “Halal” are a perfect match.
The Roadmap for Innovation
The Memorandum of Understanding (MoU), signed by Rowan Fraser (GGGI) and Rima Dwi Permatasari (BSI), focuses on three critical pillars to ensure these financial instruments aren’t just trendy, but truly impactful:
| Focus Area | Objective |
| Framework Design | Building a sustainability sukuk framework that meets rigorous international standards. |
| Capacity Building | Strengthening BSI’s internal expertise to manage and lead green Islamic financial products. |
| Transparency | Establishing high-level monitoring and reporting to win the trust of global investors. |
Leadership Perspectives
“Together with GGGI, we aim to strengthen the framework for sustainable sukuk issuance and expand access to climate finance from international sources.”
— Bob Tyasika Ananta, Vice President Director of Bank Syariah Indonesia.
“We hope that this will encourage broader private sector participation… and stimulate the greening of the Islamic banking sector in alignment with Indonesia’s climate goals.”
— Rowan Fraser, GGGI Indonesia Country Representative.
This collaboration is a signal to the global market: Indonesia is ready to innovate. By blending the ethical requirements of Sharia law with the environmental urgency of the Paris Agreement, GGGI and BSI are not just creating a new financial product they are building the infrastructure for a low-carbon, resilient economy.
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