亚开行-绿色基础设施投资机会：印度尼西亚2022年绿色复苏报告（英）-2022-32页_1mb

Green Infrastructure Investment Opportunities in Indonesia: Green Recovery 2022 Report Summary

Core Content

The Green Infrastructure Investment Opportunities (GIIO) Indonesia: Green Recovery 2022 Report highlights the significant investment potential in green infrastructure for Indonesia, emphasizing the need for a shift towards sustainable and climate-resilient projects. The report underscores the importance of green finance in supporting Indonesia's transition to a low-carbon economy and meeting its climate goals under the Paris Agreement.

Key Sectors

The report focuses on four key sectors with high potential for green investment:

• Renewable Energy
• Low Carbon Transport
• Sustainable Water Management
• Sustainable Waste Management

These sectors are identified as critical for Indonesia's climate-compatible infrastructure development and are expected to account for a large portion of the country's climate funding needs by 2030.

Global and Regional Context

• The global climate-compatible infrastructure requirement by 2030 is estimated at USD100tn, with Indonesia needing USD322.8bn by 2030.
• Indonesia's annual climate funding needs are USD245bn, with energy and transportation making up 75% of this.
• The ADB estimates that developing Asia needs USD1.7tn annually for climate-resilient infrastructure, with Indonesia alone requiring USD74bn annually, facing a USD51bn annual funding gap.
• The ACGF and PT SMI have been instrumental in promoting green finance and supporting the development of green infrastructure in Indonesia.

Challenges and Opportunities

• Funding Gap: Indonesia has only allocated 4% of its total stimulus funding towards the green sector, indicating a significant opportunity for reallocation.
• Private Investment: Mobilizing private capital is essential to close the funding gap, with innovative financial instruments like green bonds and blended finance being highlighted as key tools.
• Green Finance Mechanisms: The ACGF has been developing de-risking and innovative green finance mechanisms, including the SDG Indonesia One Green Finance Facility, to support green projects.

ADB's Role

• ADB has committed to USD6bn in annual climate investments by 2020, which it achieved in 2019.
• ADB raised its target to USD100bn in cumulative financing from 2019 to 2030, including USD34bn for adaptation and USD66bn for mitigation.
• ADB launched two key initiatives at COP26: the Energy Transition Mechanism (ETM) and the ASEAN Green Recovery Platform, which aims to mobilize USD7bn for low-carbon and climate-resilient infrastructure in Southeast Asia.

ACGF's Role

• The ASEAN Catalytic Green Finance Facility (ACGF) has USD2bn in funds and technical assistance grants, supporting the development of green finance mechanisms.
• ACGF has successfully supported green bond issuances in Thailand and is expanding its efforts in the region.

PT SMI's Role

• PT Sarana Multi Infrastruktur (PT SMI) has issued the first corporate green bond in Indonesia's capital market in 2018.
• PT SMI supports the SDG Indonesia One platform, which aims to accelerate infrastructure development aligned with sustainable development goals.
• The company is actively involved in implementing blended finance schemes and promoting green infrastructure projects.

Main Recommendations

1. Increase Green Spending: Indonesia should prioritize green spending and reallocate fiscal funds from fossil fuel-intensive sectors to green and sustainable assets.
2. Scale Up Green Finance: Expand the use of green bonds, blended finance, and other innovative financial instruments to attract private and international capital.
3. Strengthen Regulatory Framework: Develop a supportive regulatory environment to unlock global green capital and ensure the bankability of green projects.
4. Develop Green Project Pipelines: Focus on creating and promoting green project pipelines to guide investment and ensure alignment with national and regional climate goals.

Key Information

• Total Climate Compatible Infrastructure Needed by 2030: USD322.8bn
• Annual Climate Funding Gap: USD51bn
• ADB's Climate Investment Targets:
  • USD6bn annually by 2020
  • USD100bn cumulative from 2019 to 2030
• ACGF's Total Funds: USD2bn
• Green Bond Market Growth: Cumulative green bond issuance reached USD2.1tn by H1 2021
• Green Infrastructure Funding Needs (2020-2024): IDR6,444tn (USD451bn)
• State Budget Contribution: Only 37% of the required infrastructure funding is expected to be met by the state budget.
• Job Creation Potential: ADB estimates that a USD172bn investment in five low-carbon sectors could create 30 million direct jobs in Southeast Asia by 2030.

Conclusion

The report emphasizes the importance of green infrastructure in driving sustainable economic growth and resilience against climate change. It calls for increased investment in green sectors, the development of green finance mechanisms, and the reallocation of fiscal resources to support climate-compatible projects. The collaboration between ADB, ACGF, and PT SMI is seen as crucial in achieving these goals and advancing Indonesia's green recovery strategy.