Minister Of Environment And Forestry Plans To Collaborate With Private To Overcome Greenhouse Gas Emissions In Indonesia

Minister of Environment and Forestry (LHK), Siti Nurbaya. (doc KLHK)

JAKARTA - The Ministry of Environment and Forestry (KLHK) is considering other schemes involving the business world to support funding efforts to reduce greenhouse gas emissions and achieve Indonesia's climate targets.

Minister of Environment and Forestry (LHK) Siti Nurbaya explained that Indonesia received support from several international partners including collaboration with Norway in the Result Based Contribution (RBC) scheme.

"The carbon business is not only selling carbon, the carbon business can also raise the reputation of a Company and the value of its shares is big," he said after opening the Workshop Result Based Contribution Indonesia's FOLU Net Sink 2030 in Jakarta, Thursday, February 22, which was confiscated by Antara.

Companies that want to increase their reputation, said Siti, can also be involved in efforts to reduce emissions with the results being contributed as an effort to achieve climate targets.

"Mr. President has said that many want to enter the carbon economy and this incentive is indeed the most important thing for the design of implementation and practice. It is not easy to prepare," said Siti.

Previously, performance-based funding was also received from the results of bilateral cooperation with Norway for emission reduction in October 2022 amounting to 56 million US dollars (around Rp876 billion). Payments were also made in the amount of 100 million US dollars or equivalent to Rp1.56 trillion from Norway in December 2023.

The third payment was completed until last January of 156 million US dollars or around Rp. 2.4 trillion. The fourth funding is still waiting for the process to be completed this year.

Meanwhile, from the Green Climate Fund for reducing emissions of 20.3 million tons of equivalent CO2 (CO2e) as a result of performance in 2014-2016, there was funding of 103.8 million US dollars (around Rp1.6 trillion).

There is also the JAMBI BioCarbon Fund for reducing emissions for the 2020-2025 period which is still in the negotiation stage and the East Kalimantan FCPF Carbon Fund for a reduction of 22 million tons of CO2e in the 2019-2024 period worth 110 million US dollars or equivalent to Rp1.7 trillion.