Indonesian Green Sukuk (Islamic Bond) of climate change: A revisited analysis

Abstract

Significant demand for Indonesian green sukuk did not automatically relate to the performance after issuance. The performance was not good as expected due to macroeconomic factor. Thus, this paper aims to analyze the performance of second green sukuk performance issuance as well as other green bonds in Indonesia. The research employes the descriptive method based on the price movement of green sukuk with others for benchmarking and correlation analysis. The result is different from the previous research such as Euro currency that does not affect Indonesian USD-based green sukuk. In addition, second Indonesian green sukuk is better than the previous one, and local green bond has a better performance than Indonesia green sukuk.