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)

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

2020 - 2020

Yayasan Bambu Lestari (Environmental Bamboo Foundation)

Enhanced Regional EU-ASEAN Dialogue Instrument Natural Capital Consultancy

2019 - 2020

Altair Asesores

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

2018 - 2020

Triple Line Consulting

Forest Land Use and Governance (FLAG) annual review

2016 - 2020

Triple Line Consulting

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

2019 - 2019

The Norwegian Agency for Development Cooperation (Norad)

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

2018 - 2018

Rainforest Foundation Norway

Climate change financial reporting policy paper

2017 - 2017

Organization for Economic Co-operation and Development

Indonesia’s Green Climate Fund (GCF) country program

2017 - 2017

Deutsche Gesellschaft für Internationale Zusammenarbeit

Monitoring and Evaluation of Forest 2020 Program

2017 - 2017

Triple Line Consulting

Indonesia Climate Finance Report

2016 - 2017

United Nations Development Programme

Global subsidy initiative (GSI)

2016 - 2017

International Institute for Sustainable Development

Finance Policy Options Paper

2015 - 2015

Deutsche Gesellschaft für Internationale Zusammenarbeit


Selected publications (12)


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

Open Access