Indonesia to issue blue bonds in Japan’s debt market: The Indonesian government is looking to issue several blue bond tranches in Japan’s debt market, marking the first yen-denominated issuance by a foreign borrower, Bloomberg reports. Proceeds from blue bonds — first introduced by the Seychelles in 2018 — are channeled toward investments into upscaling water resource management and the conservation of marine ecosystems. These bonds are relatively uncommon compared to conventional notes and sustainability-linked green bonds, with just 12 bonds being issued since 2021 at a value of c. USD 2.8 bn, according to research by UK financial services company Santander. Indonesia will use the proceeds to enhance its climate mitigation efforts and bolster ocean conservation, Bloomberg reports.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Hertz plans to switch 25% of its 500k vehicle fleet to EVs by the end of 2024. (CNBC)
• Oman’s Foreign Minister Sayyid Badr Hamad Al Busaidi met with his Luxembourgian counterpart to explore potentially increasing cooperation and knowledge transfer on renewables. (Oman News Agency)