Since its Green Sukuk debut in 2018, the Republic of Indonesia has not only succeeded to enter the market as the world’s first sovereign Green Sukuk issuer, but have also finally issued the fifth Global Green Sukuk in 2022, accumulating the proceeds at USD 6.9 billion. The 2022 Global Green Sukuk issuance marked several notable achievements amidst the volatile global economy, including the largest Green Sukuk tranche ever printed globally and the first Green Sukuk tranche in 10-year maturity by the Republic of Indonesia. In addition, the Republic issued its inaugural Project-based Green Sukuk and Retail Green Sukuk (ST 009) for the domestic market in the same year. These thriving Green Sukuk issuances have consolidated Indonesia to steadily and consistently develop various non-state budget climate financing instruments.