February 3, 2026 | 07:16 am
TEMPO.CO, Jakarta - The Indonesian Financial Services Authority (OJK), together with the Asian Development Bank (ADB), is promoting the strengthening of sustainable finance policies and the development of local currency-denominated bond markets as part of efforts to strengthen financial system stability and economic resilience in the ASEAN+3 region.
"The presence of regulators, market players, investors, academics, and representatives of international organizations reflects a shared commitment," said Retno Ici, Executive Director of the OJK Capital Market Specialist Group, in a written statement on Monday, February 2, 2026.
The shared commitment Retno referred to is to build a resilient, inclusive, and long-term capital market, including through the implementation of sustainable finance principles and strengthening the bond market.
Retno explained that to develop sustainable finance in the capital market, the OJK has issued several policies, including OJK Regulation Number 18 of 2023 concerning the Issuance and Requirements for Debt Securities and Sukuk Based on Sustainability. This regulation expands the scope of sustainable bonds to include environmental, social, and other sustainability aspects.
In addition to regulations, the Financial Services Authority (OJK) has also published the Indonesian Sustainable Finance Taxonomy (TKBI) as a reference for aligning national projects with international sustainability standards. According to Retno, this taxonomy is a crucial instrument in promoting sustainable financing in the capital market.
The OJK recorded that by the end of December 2025, the outstanding value of sustainable corporate bonds and sukuk—including green, social, sustainability, and sustainability-linked categories—reached Rp54.94 trillion, equivalent to US$3.28 billion.
Meanwhile, regarding the development of the local currency-denominated bond market, the OJK considers this policy crucial to reduce exchange rate risk and dependence on external financing. Strengthening the local bond market is also seen as expanding funding sources for long-term infrastructure and social projects, while increasing the resilience of the national economy to external shocks.
Mada Dahana, Director of Development Financing and Investment Strategy at the Ministry of National Development Planning/Bappenas, stated that sustainable finance is part of the development strategy to encourage inclusive economic growth and achieve the Sustainable Development Goals (SDGs). The government, he said, has developed various financing instruments such as sukuk, thematic bonds—including SDG bonds and blue bonds—and blended financing schemes to support development projects.
However, Mada acknowledged that limited funding capacity remains a challenge in developing sustainable finance, necessitating collaboration between the government, the private sector, and international financial institutions.
Based on the 2025 Sustainable Development Report, Indonesia scored 70.2, above the global average of 69.5, with 61.4 percent achievement of 23 SDG indicators. The government has also established a long-term vision of "Golden Indonesia 2045" as the direction of national development.
The 45th ASEAN+3 Bond Market Forum (ABMF) Meeting and Other Events took place over three days, February 2–4, 2026, and was held in a hybrid format, involving approximately 200 participants from ASEAN+3 member countries and regional stakeholders.
In addition to the ABMF, the forum also includes the Joint 34th Cross-Border Settlement Infrastructure Forum (CSIF) and the 3rd Digital Bond Market Forum (DBMF), which discussed strengthening cross-border transactions and developing digital bond markets in the region.
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