OJK Says No Company Has Submitted To Be The Organizer Of The Carbon Exchange

Illustration (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) revealed that so far no company has volunteered to participate in the carbon exchange.

The Chief Executive of the Capital Market Supervisory, Derivative Finance and OJK Carbon Exchange, Inarno Djajadi, said that his party was still finalizing the derivative regulations of OJK Regulation Number 14 of 2023 or POJK Carbon Exchange.

This is intended to regulate the mechanism for organizing carbon trading.

"Of course, before there was an OJK Circular (SEOJK), which officially submitted documents, there was no one from anywhere who had not submitted documents because they were also waiting for the derivative rules," said Inarno at the August 2023 RDK press conference which was held virtually, Tuesday, September 5.

Previously, the OJK revealed that there would be 99 Steam Power Plants (PLTU) that would participate in the first trade of this carbon exchange.

Regarding the carbon trading mechanism, Inarno ensured, at this early stage retail companies could not participate.

The reason is, carbon trading can only be followed by companies that have a Greenhouse Gas Emission Reduction Certificate (SPEGRK) and the Technical Approval of the Upper Limit Emission of Business Actors (PTBAE-PU) which is recorded in the SRN PPI by the Ministry of Environment and Forestry (KLHK).

"It is very possible that in the future retailers can enter, but not be included in the carbon trade, but in derivative products," he said.

Inarno hopes that in the short term it can be traded domestically between those with SPEGRK.

"Of course, in the medium and long term, we hope that foreign business actors can also buy and sell carbon units on the Indonesian carbon exchange," concluded Inarno.