Aidy Halimanjaya, PhD

climate change finance | financial governance | sustainable finance | forest finance | energy finance | fiscal policy | monitoring and evaluation | outcome assessment | impact evaluation


I am an economist working in the area of international public finance. My research aims to make financial allocation more equitable and transparent and for fostering positive impacts of institutions on social and environmental development. I combine quantitative and qualitative methods such as statistical and political economy analysis to monitor, assess and evaluation finance spent on land use and green energy projects. I take a role as an expert in many climate projects and global programmes.


  • PhD in International Development (Economics), University of East Anglia (UK), School of International Development

  • MSc Public Administration -, Erasmus University (NL). International Management and Public Policy

  • BA Economics, Padjadjaran University (ID).

  • BA Business Administration, Parahyangan University (ID).



My research interests are in

  • climate finance allocation and distribution

  • financial governance

  • forest and land use finance

  • energy finance

  • Green fiscal policies

  • Political economy analysis

  • Research impact to policy

  • Outcome assessment

  • Impact evaluation

  • Supply chain finance


I am contributing to the World Bank’s climate finance work streams in Indonesia such as supporting budget tagging review and green industry guidelines and the development methodology for monitoring and tracking the impact of land-use and forestry finance on the reduction of GHG emissions: £32.5 million of UK ICF’s Forest, land use and governance (FLAG), £2 million UK Space Agency’s Peatland Assessment in South East Asia by Satellite (PASSESand Forest 2020 programme.

Research in progress

​I am currently working on:

Recent consultancies

contributed to


forest and land use programmes


years working in environment & development



Selected projects (12)

2020 - 2020

Technical assistance for Bamboo bond initiative for 1000 bamboo villages program in Indonesia

Yayasan Bambu Lestari (Environmental Bamboo Foundation)

2019 - 2020

Enhanced Regional EU-ASEAN Dialogue Instrument Natural Capital Consultancy

Altair Asesores

2018 - 2020

Monitoring and Evaluation of Peatland Assessment in SE Asia by Satellite (PASSES)

Triple Line Consulting

2016 - 2020

Forest Land Use and Governance (FLAG) annual review

Triple Line Consulting

2019 - 2019

End-review of the Norad-supported project INS-16/0003 “Production and Protection Approach to Landscape Management (PALM)” by the Climate Policy Initiative (CPI) in Indonesia

The Norwegian Agency for Development Cooperation (Norad)

2018 - 2018

Evaluation of Rainforest Foundation Norway's Partner Organisation Forest Watch Indonesia

Rainforest Foundation Norway

2017 - 2017

Climate change financial reporting policy paper

Organization for Economic Co-operation and Development

2017 - 2017

Indonesia’s Green Climate Fund (GCF) country program

Deutsche Gesellschaft für Internationale Zusammenarbeit

2017 - 2017

Monitoring and Evaluation of Forest 2020 Program

Triple Line Consulting

2016 - 2017

Indonesia Climate Finance Report

United Nations Development Programme

2016 - 2017

Global subsidy initiative (GSI)

International Institute for Sustainable Development

2015 - 2015

Finance Policy Options Paper

Deutsche Gesellschaft für Internationale Zusammenarbeit


Selected publications (12)


Open Access

Halimanjaya, A.; Belcher, B.; Suryadarma, D.

International Forestry Review


Open Access

Halimanjaya, Aidy

International Journal of Economics, Finance and Management Sciences


Open Access

Belcher, B., Suryadarma, D., & Halimanjaya, A.

Palgrave Communications


Open Access

Halimanjaya, A.

Journal of Sustainable Finance & Investment


Open Access

Vallejo, L., S. Moarif, and A. Halimanjaya

OECD Publishing


Open Access

Halimanjaya, A

Journal of Sustainable Finance & Investment.


Open Access

Halimanjaya, A.

Climate Policy


Open Access

Halimanjaya, A., & Papyrakis, E.

Climate Change Economics


Open Access

Maulidia, M., and Halimanjaya, A



Open Access

Halimanjaya, A.S.

University of East Anglia


Open Access

Fransen, T., S. Nakhooda, T. Kuramochi, A. Caravani, A. Prizzon, N. Shimizu, H. Tilley, A. Halimanjaya, and B. Welham

Overseas Development Institute/World Resources Institute/Institute for Global Environmental Strategies


Open Access

Halimanjaya, A., and E. Papyrakis

School of International Development, Working Paper