Pertamina plans to issue first-ever green bond by next year

Energy shift: A Pertamina oil tanker on the road in Jakarta. Its green bonds would help expand its green energy business to contribute between 10% and 15% of total revenue within five years. — AFP

Jakarta: State-owned oil and gas (O&G) holding giant Pertamina is planning to issue its maiden green bonds within the coming year to finance its geothermal business.

Pertamina is the second Indonesian state-owned energy firm to unveil its plan to issue a sustainable finance instrument after the state electricity firm (PLN), respectively the fourth and first largest state-owned enterprise by assets.