It’s Official! BEI Officially Becomes the Organizer of the Carbon Exchange

IDX (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) has officially granted a business license to organize the Carbon Exchange to PT Bursa Efek Indonesia (BEI). This is through KEP-77/D.04/2023 dated September 18, 2023.

"The granting of the business permit is valid from the date of the stipulation of the Decree of the Members of the Board of Commissioners in question," said Head of the OJK Capital Market Licensing Department Luthfy Zain Fuady, quoting Antara, Tuesday, September 19.

The granting of a business license to BEI as the organizer of the Carbon Exchange is based on the Financial Services Authority Regulation (POJK) Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange and the Financial Services Authority Circular Letter (SEOJK) Number 12/SEOJK.04/2023 concerning Procedures for Organizing Trading Carbon Through Carbon Exchanges.

Previously, Chairman of the OJK Board of Commissioners Mahendra Siregar said that his party would officially launch the carbon exchange on September 26 2023 or next week.

"The plan is that the launch of the first trading carbon exchange will take place on September 26, so next week," said Mahendra.

Before the launch was carried out, he explained that currently all relevant levels were preparing to increase capacity and understanding of the carbon trading ecosystem which tends to be new in Indonesia.

"That is the plan for next week, but in parallel we must continue to improve ourselves in understanding, knowledge, capacity to truly understand how to form this ecosystem (Carbon Exchange)," said Mahendra.

On another occasion, IDX Development Director Jeffrey Hendrik said that IDX had prepared everything, so that it would be ready at any time if it was appointed as the organizer of the carbon exchange by the OJK.

"When we applied for a permit, everything should have been prepared. In principle, the stock exchange is always ready," said Jeffrey.