Carbon Trading To Be Carried Out Starting Next Week

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar. (Photo: Doc. ANTARA)

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar revealed that the plan to launch the inaugural carbon market will be held next week.

"The launch of the first carbon exchange is planned to be carried out on September 26. So next week," Mahendra said at the National Seminar on the Reduction of Greenhouse Gas Emissions and Carbon Trading Opportunities in Indonesia to reporters, Monday, September 18.

Mahendra said, with this carbon exchange, all processes from upstream such as the preparation of carbon units, all forms of registration, verification, certification, proof of validity to trade and how to keep trade successful will start next week.

"But in parallel, we must continue to improve together in understanding capacity knowledge to really understand how to form the ecosystem," continued Mahendra.

Previously, PT Bursa Efek Indonesia (IDX) had officially submitted a request as a carbon exchange organizer to the Financial Services Authority (OJK). This is in accordance with the provisions in the OJK Circular (SEOJK) 12/2023.

"For that, we can convey that the IDX has submitted an application as a carbon exchange organizer in accordance with the provisions in SEOJK 12/2023," said IDX Development Director Jeffrey Hendrik quoting Antara, Friday, September 8.

Jeffrey ensured that the IDX had conveyed all the requirements set out in SEOJK 12/2023, which are technical rules of the Financial Services Authority Regulation (POJK) Number 14 of 2023.

As is known, the OJK has issued a Circular Letter of the Financial Services Authority Number 12/SEOJK.04/2023 concerning Procedures for the Implementation of Carbon Trading through the Carbon Exchange (SEOJK 12/2023) as the technical rules of POJK Number 14 of 2023 on Thursday, 7 September.

"The issuance of SEOJK 12/2023 is carried out to follow up on procedures for organizing carbon trading on carbon exchanges, operational and internal control of carbon exchange organizers, as well as provisions regarding the requirements and procedures for licensing carbon exchange organizers in POJK 14/2023," said Head of the Literacy, Financial Inclusion, and Communications Department of OJK Aman Santosa.

With the legal basis for the requirements and procedures for licensing carbon trading through carbon exchanges, it is hoped that it can become a legal basis, as well as guidelines for each party that will apply for a business license as a carbon exchange organizer to the OJK.