Inaugurating The Carbon Exchange, Jokowi Asks To Do These 3 Things

JAKARTA - President Joko Widodo inaugurated the Indonesian Carbon Exchange on Tuesday, September 26.

According to him, Indonesia has extraordinary potential in net service solution and is the only country whose 60 percent fulfillment of carbon emission reduction comes from the natural sector.

"In my note, there is approximately 1 GT of carbon credit potential that can be captured. And if it is calculated that the potential for carbon exchanges can reach more than IDR 3000T," Jokowi said in his remarks, Tuesday, September 26.

With a potential of up to IDR 3000 trillion, he said, it would be a new sustainable and linguistic-friendly economic opportunity that is in line with the direction of the world that is heading towards a green economy.

Furthermore, Jokowi said, the world is facing the threat of climate change that can be felt through rising earth temperatures, drought, floods, pollution.

"And concrete steps are needed to overcome it and the carbon exchange can be a big step for Indonesia to achieve its emission target," he said.

For this reason, Jokowi asked all stakeholders to do the following 3 things to make the carbon market a step for Indonesia to achieve its emission target.

"I ask first to use international carbon standards as a reference and use technology for transactions so that they are effective and efficient," said Jokowi.

Second, there must be targets and timelines for both domestic markets and international markets so that they immediately enter the Indonesian carbon exchange scheme.

Third, Jokowi asked stakeholders to regulate and facilitate voluntary carbon markets according to practices in the international community and ensure that these standards do not interfere with Indonesia's NDC targets.

"I am optimistic that Indonesia can become a world carbon company as long as the concrete steps are consistently worked on and with stakeholders, both the government, the private sector, the community and together with other stakeholders," concluded Jokowi.