Jokowi Inaugurates Indonesia's First Carbon Exchange

Inauguration of the Carbon Exchange (Photo: Maria trisnawati/VOI)

JAKARTA - President Joko Widodo inaugurated the first carbon exchange in Indonesia. This inauguration was held at the Main Hall of the Indonesian Stock Exchange (BEI) on Tuesday, September 26.

"By saying Bismilahirohmanirohim, I inaugurate the Indonesian carbon exchange," said Jokowi, Tuesday, September 26.

This event was attended by Coordinating Minister for Maritime Affairs and Investment Luhut B Pandjaitan, Minister of Environment and Forestry Situ Nurbaya, Head of the Financial Services Authority (OJk) Mahendra Siregar, PJ Gunernur DKI Jakarta Heru Budi and other related officials.

In its first transaction, the Carbon Exchange recorded a trading volume of 459,914 tons of carbon equivalent (tCO2e) with a total of 13 trades, 13 total orders and 16 registered users.

Meanwhile, the price per unit of carbon is IDR 69,600. The projects listed are the Lahendong Unit 5 and Unit 6 projects belonging to PT Pertamina Geothermal Energy Tbk in North Sulawesi.

In his speech, Jokowi said that Indonesia has the potential for up to 1 million giga tons of carbon dioxide that can be captured and if converted it has potential profits of up to IDR 3,000 trillion.

"The carbon exchange we are launching today can be a concrete step for Indonesia to achieve its NDc target," said Jokowi.