OJK Officially Introduces Six Forms of Sustainability-Based EBUS

In 2017, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) introduced a framework that specifically addressed Environmentally-Based Bonds (i.e. debt securities) (“Green Bonds”) through the introduction of Regulation No. 60/POJK.04/2017 on the Issuance of and Requirements for Green Bonds (“Regulation 60/2017”). However, in order to further support the development of Sustainability-Based Securities as a whole, the OJK has now issued Regulation No. 18 of 2023 on the Issuance of and Requirements for Sustainability-Based Securities in the Form of Debt and Sukuk (“Regulation 18/2023”), which has been in force since 10 October 2023.[1]