Indonesian wealth fund Indonesia Investment Authority (INA) to step up focus on green investments

Indonesia Investment Authority (INA), the country's sovereign wealth fund, is looking to tap overseas investors as it seeks to deepen its focus on green investments, a top INA officer told reporters on Thursday. INA chief risk officer Thomas Sugiarto Oentoro said the wealth fund was reviewing several opportunities in green investments. INA has previously invested in Indonesian geothermal firm PT Pertamina Geothermal Tbk. INA along with Abu Dhabi renewable energy firm Masdar acquired a 20% stake in Pertamina Geothermal in February last year for USD 480 million. Besides geothermal energy, INA is also reviewing solar power and nature-based solutions such as mangrove restoration. INA will directly invest in sustainable or green projects alongside external foreign investors from regions like the US, Europe, and the Middle East.