The Piyungan Landfill in Yogyakarta is an example of the success of Green Sukuk financing to mitigate greenhouse gas emissions. The revitalization of the Piyungan Landfill, which was transformed into a sanitary landfill, allows for more effective waste decomposition and more environmentally-sound waste management. In 2018, the Government of Indonesia issued the world’s first sovereign Green Sukuk and has since then become world’s largest issuer by value totaling to USD5.8 billion. Supported by UNDP, the five series of global market issuances and four series of domestic market issuances enabled the Gov of Indonesia to accelerate efforts on climate action.
