Bank BRI (IDX: BBRI) has reaffirmed its commitment to sustainable financing in Indonesia by issuing the Sustainable Environmental Bonds I Phase I Year 2022, targeting to raise IDR 15 billion and a total issuance of IDR 5 billion for ESG (Environment, Social, and Governance) activities. The fund will be used in accordance with POJK 60/2017 concerning Issuance and Requirements for Green Bonds by allocating at least 70% for business activities included in the criteria for Environmental-Friendly Business Activities (KUBL). The initial offering period of listing on the Indonesian Stock Exhchange from 14 June to 14 July has PT BRI Danareksa Sekuritas, PT Bahana Sekuritas, PT BCA Sekuritas, PT BNI Sekuritas, PT Indo Premier Sekuritas and PT Mandiri Sekuritas as guarantors for the Green Bond issuance. "The guarantee of the Sustainable Environmental-Friendly Bonds I Phase I Year 2022 is a Clean Basis with a tenor of 370 days, 3 years and 5 years, and an undetermined interest rate to be paid quarterly according to 30/360 calculation. PT Pemeringkat Efek Indonesia (Pefindo) has given an idAAA rating on BRI's Green Bond," said Sunarso, President Director of BRI. The KUBL sectors targeted by BRI's Sustainable Environmental-Friendly Bonds include renewable energy, pollution control, natural resource management, land and water biodiversity conservation, environmental-friendly transportation, climate change adaptation, and other environmental-friendly business activities. "The issues of climate change and its impacts have attracted many companies' attention globally. The banking industry now also pays attention to the ESG factors for sustainable finance," added Sunarso. BRI is also committed to the Sustainable Finance Roadmap in maintaining and improving environmental sustainability as evidenced by increasing the loan proportion for ESG activities. In March 2022, BRI's fud for ESG activities reached IDR 639.9 billion, 65.6% of the total loan, increasing by 13.4% compared to last year's IDR 564 billion or 62.9% of the total loan. "Through the Green Bond issuance, BRI has further strengthened its position as the market leader amongst ESG companies in Indonesia. Since the MSME segment is a main driver of Indonesia's economic growth, it is crucial to educate to MSME actors of ESG to ensure their businesses' sustainability," concluded Sunarso. Source: PT Bank Rakyat Indonesia Tbk (BRI) Image Attachments Links: Link: https://iop.asianetnews.net/view-attachment?attach-id=424522 Caption: Left to Right: Arga M. Nugraha, Director of Digital and IT BRI; Sunarso, President Director BRI; Viviana Dyah Ayu Retno K., Director of Finance BRI.