Pertamina Becomes the Only Seller On the Floor At The Indonesian Carbon Market

Pertamina President Director Nicke Widyawati (third left). (Photo: Doc. ANTARA)

JAKARTA - Pertamina's subsidiary became the only seller listed on the stock exchange after IDX Carbon was inaugurated by the President of the Republic of Indonesia Joko Widodo on Tuesday 26 September.

Pertamina President Director Nicke Widyawati said, in this first carbon trade, the carbon units sold were from Pertamina New & Renewable Energy, namely from PLTP Lahendong Units 5 and 6.

"You can see that if other countries wait 3-4 months for a transaction to take place, this immediately runs out, the units are running out straight away now. So, the market is responding well," said Nicke, quoted on Wednesday, September 27.

Nicke added that compared to neighboring countries, the Indonesian Carbon Exchange is running quickly with large volumes.

For this reason, she said, Indonesia should be proud and he invited all levels and also subholdings and subsidiaries to actively contribute to all of Indonesia's Net Zero Emission programs.

She said, Pertamina group plays an important position for the achievement of NZE.

"And today the President said that this is a concrete manifestation. It is not just a plan for Pertamina, but we are taking concrete steps and today is concrete evidence that the Pertamina group is pushing for an energy transition towards Net Zero Emissions in 2060," she continued.

Just so you know, Pertamina New and Renewable Energy (Pertamina NRE), as a subsidiary of Pertamina and the carbon market aggregator in the Pertamina Group, is the only seller transacting on IDXCarbon at today's launch.

Pertamina NRE has carbon credits from the Lahendong Geothermal Power Plant Units 5 and 6, with a volume of around 864 thousand tCO2e, which was produced during the 2016–2020 period. This carbon credit meets the national standards set by the Ministry of Environment and Forestry.

Quoting from the IDX page, the companies that acted as buyers of Carbon Units in the initial IDXCarbon trade included: PT Bank Central Asia Tbk, PT Bank CIMB Niaga Tbk, PT Bank DBS Indonesia, PT Bank Mandiri (Persero) Tbk, PT BNI Sekuritas, PT BRI Danareksa Sekuritas (part of PT Bank Rakyat Indonesia (Persero) Tbk), PT CarbonX Bumi Harmoni, PT MMS Group Indonesia, PT Multi Optimal Research and Education, PT Pamapersada Nusantara, PT Pelita Air Service, PT Pertamina Hulu Energi, PT Pertamina Patra Niaga, PT Truclimate Decarbonization Indonesia, and PT Air For All (Fairatmos).