JAKARTA - The Government and the Indonesia Stock Exchange (IDXCarbon) officially launched the first International Carbon Trade in Indonesia through the Indonesian Carbon Exchange (IDXCarbon).
To note, International Carbon Trade is regulated in Presidential Regulation (Perpres) 98 of 2021 and Ministerial Regulation (Ministerial Regulation) of Environment and Forestry (LHK) Number 21 of 2022 concerning the authorization mechanism from the Minister for carbon credit that can be traded to foreign parties.
Minister of Environment (LH)/Head of the Environmental Control Agency (BPLH) Hanif Faisol Nurofiq said that this step was taken to achieve the climate target of Indonesia as stated in the Nationally Determined Contribution (NDC) document.
"The Indonesian government is trying to achieve the NDC target, one of which is through the implementation of carbon economic value mechanisms, including carbon trading," he said at the launch of International Carbon Trading, Monday, January 20.
Therefore, Hanif ensured that this international carbon trade was carried out in accordance with Presidential Regulation (Perpres) Number 98 of 2021 concerning the implementation of carbon economic value (NEK) for the Achievement of the Nationally Determined Contribution Target and Control of Greenhouse Gas Emissions in National Development.
Similarly, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said that his party had carried out all steps to regulate and supervise carbon exchanges, including international trade.
"In the future, it needs to be conveyed that things are done carefully with the Indonesian carbon exchange, including recording with the blockchain system," he said.
Meanwhile, President Director of the Indonesia Stock Exchange, Iman Rachman, said that international carbon trading is one of the steps that Indonesia has contributed to achieving the target of reducing global carbon emissions.
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"IDX Carbon has run a solid and reliable trading system that integrates best practices globally into single platforms," he said.
Iman said, during the carbon trade in the domestic market, the number of participants registered as carbon service users reached 104 participants, an increase from 16 participants since the launch of IDX Carbon on September 26, 2023.
Meanwhile, the total trade of carbon units from September 26, 2023 to January 10, 2025 reached 1.13 million tons of equivalent CO2 with a value of IDR 58.86 billion.
"Recently, Indonesia's carbon trade celebrates extraordinary achievements by commemorating the cumulative 1 million tons of carbon traded," he said.
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