The Asian Green Bond Fund is one of the initiatives of the Asian Consultative Council (ACC) BIS to support green investment programs in Asia and the Pacific.
In a statement issued in Jakarta on Friday, Bank Indonesia Governor Perry Warjiyo, in his capacity as ACC-BIS chairman, said the initiative to set up the Asian Green Bond Fund demonstrated the commitment of central banks in Asia and the Pacific to increase the availability of green financial instruments.
This also aligns with one of the priority agendas during Indonesia's G20 Presidency in 2022, he said.
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Sharing Warjiyo's view, Head of the BIS Banking Department Peter Zoellner stated that the initiative of setting up the Asian Green Bond Fund is BIS's concrete commitment to provide central banks with green investment alternatives.
The presence of the Asian Green Bond Fund expands investment opportunities for central banks in Asia and the rest of the world, to put securities with investment grade criteria and meet international green standards.
Meanwhile, the funding is focused on supporting environmentally friendly projects in various sectors, including renewable energy and energy efficiency in Asia and the Pacific.
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The presence of the instrument will add to green financial instrument alternatives in managing foreign exchange reserves.
ACC-BIS is made up of 13 governors of central banks as BIS members from Asia and the Pacific, including Australia, China, Hong Kong SAR, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
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Translator: Agatha Olivia V, Suharto
Editor: Fardah Assegaf
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