International Carbon Trading Records Transaction Volume 41,822 TCO2e On Its First Day

International carbon trade press conference (Photo: Aris Nurjani/VOI)

JAKARTA - The Indonesia Stock Exchange (IDXCarbon) recorded a volume of International Carbon Trading transactions through the Indonesia Carbon Exchange (IDXCarbon) reaching 41.822 tons equivalent to CO2 or tCO2e on the first day of its inauguration.

Meanwhile, of the total transactions recorded, there are five projects, nine service users, and nine buyers in International Carbon Trade. The Authorized Indonesian Tech Based Solution or IDTBSA price is IDR 96,000, and the Authorized Indonesian Tech Based Solution Renewable Energy or IDTBSA-RE is IDR 144,000.

"This price is higher than the international price current which occurred at Rp59,200," said IDX President Director, Iman Rachman, at a press conference on International Carbon Trading Inauguration, Monday, January 20.

Iman said to buy carbon at IDX Carbon, first buyers must register as members of service users or by making purchases through service users who have been registered on IDX Carbon.

According to Iman, there are several foreign investors who use purchases through service users who have been registered on IDX Carbon because the release schedule is quite short.

"This is proof of readiness from the IDX Carbon system that we are ready to carry out the mandate of the Ministry of Environment and the Financial Services Authority (OJK) to become a trading facility for both domestic transactions and international transactions," he said.

To note based on IDX Carbon data, during the period 26 September 2023 - 17 January 2024, the IDX Carbon Trading volume was 1.131 million tCO2e. The trading value was recorded at IDR 58.868 billion, 6 Project Listed Certificates for Reduction of Greenhouse Gas Emissions (SPE-GHG), and 104 service users.

Iman said that the achievement was driven by contributions from companies listed on the IDX and its subsidiaries, which contributed around 83 percent of the total volume of carbon trading.

However, Iman said that his party had not been able to specify where the buyers' countries came from in international carbon trading because they could not see the data directly because most of the purchases were through domestic investors.

"It is hoped that these companies will continue to be examples, as well as inspire other companies and businesses in Indonesia to actively participate in IDX Carbon," he said.