OJK Records Carbon Exchange Transactions Reaches IDR 29.21 Billion
Illustration (Photo: Doc. Antara)

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JAKARTA - The Financial Services Authority (OJK) recorded a total value of carbon trading from 26 to 29 September 2023 on the Carbon Exchange reaching IDR 29.21 billion with a volume of carbon units trading reaching 459,953 tons of CO2e.

The Chief Executive of the Capital Market Supervisory, Derivative Finance, and Carbon Exchange, Inarno Djajadi, said that the number of perpetrators of carbon trading was 16 perpetrators, consisting of 1 seller, namely PT Pertamina Geothermal Energy Tbk and 15 companies as buyers.

"On September 26, 2023, Indonesian President Joko Widodo officially launched the Indonesia Carbon Exchange (IDXCarbon) on the Indonesia Stock Exchange as the organizer of the Carbon Exchange," said Inarno at the OJK Board of Commissioners Press Conference. September, Monday, October 9th.

He explained that the carbon units traded at the launch came from Pertamina New and Renewable Energy (PNRE) which provided Carbon Units from the Lahendong Unit 5 Project and Unit 6 PT Pertamina Geothermal Energy Tbk in North Sulawesi.

The project is registered as a Greenhouse Gas Emission Reduction Certificate (SPE-GHG) for the Indonesia Technology Based Solution (IDTBS) series.

In its first trade, the IDX noted that there were 13 transactions with a trading volume of 459,914 tons of carbon equivalent (tCO2e).

Meanwhile, the price per carbon unit was recorded at IDR 69,600. Chairman of the Board of Commissioners of the Financial Services Authority (OJK), Mahendra Siregar, shows off a number of Indonesia's advantages in implementing the Carbon Exchange in the hopes of President Joko Widodo.

He compared Indonesia's achievements compared to neighboring countries such as Malaysia which took 1.5 to 2 years to be able to launch the carbon exchange.

"Thanks to the President's warning to work quickly, we can carry out the Carbon Exchange in 8 months," Mahendra said in his remarks at the launch of the Indonesian Carbon Exchange, Tuesday, September 26.

He added that the neighboring country's Carbon Exchange, namely Malaysia, took 3 to 4 months until the first transaction occurred.

"We hope that the first transaction can be made today," added Mahendra.


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