ASEAN Green Financial Instruments Guide

The guide provides a comprehensive overview of green financing in the ASEAN region, detailing available debt and equity instruments, credit enhancement tools, and a step-by-step process for issuing green bonds, sukuk, and loans. It highlights the role of governments, banks, and development finance institutions in scaling up private capital to meet an estimated USD3tn green investment need by 2030.

• The ASEAN region requires approximately USD3tn in green investments between 2016 and 2030 to achieve a low-carbon transition.
• As of November 2018, cumulative green debt issuance in ASEAN totaled USD5.03bn, representing only 1% of global and 5% of emerging market volumes.
• Indonesia maintains the largest green bond market in the ASEAN region, with a volume of USD1.98bn from four deals, including a sovereign green sukuk.
• The ASEAN Green Bond Standards (AGBS), released in November 2017, aim to increase transparency and consistency, explicitly excluding fossil fuel power generation projects.
• Green sukuk are particularly effective for attracting both green investors and those with Shariah-compliant mandates; the market has reached a cumulative total of USD2.13bn, dominated by Malaysian issuers except for the Indonesian sovereign sukuk.
• Credit guarantees are essential for improving the risk-return profile of green infrastructure in emerging markets, as seen with the ADB's partial credit guarantee for AP Renewables in the Philippines and GuarantCo's 100% guarantee for Sindicatum Renewable Energy in Singapore.
• Singapore and Malaysia provide financial incentives to encourage green bond issuance, including the Monetary Authority of Singapore's grant for external reviews and Malaysia's tax deductions for issuance costs and exemptions for investors until 2020.

APA

Climate Bonds Initiative (2019). ASEAN Green Financial Instruments Guide. https://www.climatebonds.net/files/documents/publications/ASEAN-Green-Financial-Instruments-Guide.pdf

Chicago

Climate Bonds Initiative. ASEAN Green Financial Instruments Guide. 2019. https://www.climatebonds.net/files/documents/publications/ASEAN-Green-Financial-Instruments-Guide.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=ASEAN Green Financial Instruments Guide |date=2019 |url=https://www.climatebonds.net/files/documents/publications/ASEAN-Green-Financial-Instruments-Guide.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019asean, author = {{Climate Bonds Initiative}}, title = {{ASEAN Green Financial Instruments Guide}}, institution = {Climate Bonds Initiative}, year = {2019}, url = {https://www.climatebonds.net/files/documents/publications/ASEAN-Green-Financial-Instruments-Guide.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }