Services

Overview

PEFINDO launched an External Review Provider service (Green Bond Verifier) to verify the issuance of environmentally-oriented debt securities and sukuk, known as Green Bonds, in response to the rapid growth of the global and regional Green Bond market. 

This service provides independent verification of Green Bond frameworks through transparent assessments that ensure compliance with environmental standards. 

In line with Indonesia's commitment to achieving sustainable development targets, the launch of this External Review Provider service demonstrates our dedication as the first and most trusted credit rating agency in Indonesia to support the development of sustainable finance in the country. 

Our Role as an External Review Provider

As an External Review Provider, PEFINDO evaluates whether the Green Bond issuer's framework complies with all necessary Green Bond principles, taxonomies, and regulatory standards. 

Our review process includes the following steps: 

• Conducting assessments, verifications, or tests and providing summary opinions or assessment results related to business activities and/or other activities included in the categories of Environmentally-oriented Business Activities (KUBL) and Socially-oriented Business Activities (KUBS) that underlie the issuance of Bonds; 

• Providing a summary of opinions or assessment results related to the Bond framework, including the processes and methods applied to identify and manage potential material environmental and social risks related to business activities and/or other activities in accordance with KUBL and KUBS; 

• Providing a summary of opinions or assessment results in the event of changes in the use of funds from the Bond issuance; and 

• Providing a review of the annual report related to the use of funds from the Bond Public Offering. 

PEFINDO applies a transparent, accurate, and international standard methodology, providing investors and stakeholders with greater confidence in the integrity of sustainable debt instruments. 

Our Credentials 

PEFINDO has obtained permission from the Financial Services Authority (OJK) to conduct external reviews and has been accredited by the Climate Bonds Initiative (CBI) as a verifier, confirming our competence in conducting verifications in accordance with international standards. 

PEFINDO has also established a strategic partnership with Indonesia Environmental and Social Advisory (IESA) to provide high-quality verification services through this partnership. The collaboration between PEFINDO and IESA is conducted in the following forms: 

• PEFINDO acts as a verifier, assessing the compliance of the Green Bond framework with established standards or taxonomies. 

• IESA provides technical assistance for the verification process carried out by PEFINDO.