Indonesia unveils a plan to launch Blue Bond at UN Ocean Conference 2022
July 1, 2022
LISBON, 29 June 2022 – Indonesian Coordinating Minister of Maritime Affairs and Fisheries, Mr. Luhut Pandjaitan has unveiled a plan to launch Blue Bond to finance ocean-related initiatives in Indonesia. He made the announcement at the UN Ocean Conference 2022 in Lisbon where global top marine scientists and government officials have gathered to identify solutions in address ocean woes.
Co-hosted by the Governments of Kenya and Portugal, the UN Summit aims to discuss solutions to address ocean-related woes triggered by Climate Crisis. The Blue Bond will be an important investment tool in tackling the climate crisis and improving the lives of Indonesia's 260 million people.
“I would like to also announce that the Indonesian Government will issue Blue Bond, under the Blue Principle”, said Mr. Pandjaitan, during the UN Ocean Conference 2nd Plenary Session.
Mr. Pandjaitan also singled out the Archipelagic and Island States (AIS) Forum, a multilateral platform on island states led by UNDP and the Government of Indonesia, for pioneering collaborative international efforts to address ocean-related challenges, triggered by climate crisis.
“Through the AIS Forum and our G20 presidency, we will promote the important of blue economy, blue carbon, ocean waste management, and blended finance”, added Mr. Pandjaitan whose Ministry leads the AIS Forum.
The AIS Forum has also supported the UN Summit by hosting two seminars on the issue of blue financing and ocean-related challenges faced by the AIS nations.
The first AIS seminar sought to address the ‘Best Practices of Blue Innovative Financing in AIS Countries’, highlighting opportunities for developing the blue economy
“Today, there appears to be a lot of demand and awareness from global investors, non-profit investors, governments, business sectors, and philanthropists. Everyone wants to be a part of the blue financing. ”, said H.E. Mr. Arif Havas Oegroseno.
Mr. Basilio Araujo, Deputy Minister for Coordination of Maritime Sovereignty and Energy, of Indonesia’s Coordinating Ministry for Maritime and Investment Affairs also cited Indonesia as one of the best practices.
Turning attention to another AIS country, Seychelles, Mr. Jan Robinson, Project Manager at Department of Blue Economy, Ministry of Fisheries and Blue Economy, said that the COVID-19 pandemic has emphasised the need to boost innovation.
“If the Covid-19 pandemic and the geopolitical crisis have taught us anything, it’s that innovation will be even more important as we seek to reduce reliance on tourism,” he said.
Ms. Namita Vikas, Managing Director of auctusESG, also underlined that climate financing momentum has increased in recent years, with funding being channelled toward effect on ocean health, tourism, and shipping.
The second seminar, entitled ‘Opportunities in Building Solutions for the Sustainable Ocean Economy in Archipelagic and Island States’ discussed ways to kickstarting the Blue Economy. Panelists stressed the importance for archipelagic and island governments seeking to maximise the potential of their oceans in a sustainable manner.
Mr. Solo Mara, Secretary General, Pacific Islands Development Forum, also accentuated that the blue economy has yet to reach its full potential and presents a great opportunity for archipelagic and island states.
Mr. Burkhard Hinz, Head of Urban Development and Mobility, at German Development Bank KfW, Germany said the private sector can hold the key to promote a less emission and zero-waste production models such as circular economy.
“Initiating a new circular plastics economy goes along with major opportunities for industry and private sectors”. said Mr. Hinz adding that upstream action is needed on reduction, reuse and redesign, in parallel with downstream action to improve collection and recycling
The AIS Forum is a platform supported by UNDP Indonesia, in cooperation with the Coordinating Ministry for Maritime & Investment Affairs of Government of Indonesia, that was initiated in 2017 to bring together 47 archipelagic and island states around the world to address challenges and identify opportunities arising from their insularity.
UNDP Indonesia AIS Forum Programme Manager, Abdul Situmorang, email@example.com
UNDP Indonesia Communication Specialist, Tomi Soetjipto, firstname.lastname@example.org
UNDP Indonesia AIS Forum Marketing and Communication Specialist, Adream Bais Junior. email@example.com
UNDP Indonesia AIS Forum Regional Officer (Europe), Denniz Ozturk, firstname.lastname@example.org