The carbon credit transactions were carried out in 46 separate transactions. These carbon credits were sourced from geothermal power plants, specifically from the Lahendong Geothermal Power Plant units 5 and 6 in North Sulawesi.

"Currently, there are still 373,000 tons of carbon available for sale," Nareswari Sumarsono, Head of Carbon Business at Pertamina NRE, said on Thursday, February 29, 2024.

The buyers for these carbon credits include Pelita Air, BCA, DBS, CIMB Niaga, Bank Mandiri, Bions, BRI, TruClimate, and MMS Group Indonesia. Sumarsono explained that Pertamina NRE conducted carbon credit sales through three mechanisms:

1. Auction Market (bidding platform) for 300,000 tons of carbon.
2. Regular Market (spot transactions on the Carbon Exchange) for 139,704 tons.
3. Negotiated Market (offline deal, exchange-settled) for 50,659 tons.

Edwin Hartanto, Head of Carbon Trading Unit at Indonesia Stox Exchange, highlighted the significant potential of the carbon exchange in Indonesia. President Joko Widodo has previously mentioned the potential value of the carbon exchange to reach IDR 3,000 trillion.

Hartanto noted that neighboring countries like Singapore and Malaysia already have established carbon exchanges.

"Pertamina Geothermal Lahendong is also the first product to be listed and recorded on the Carbon Exchange," he said.

The Indonesia Carbon Exchange (IDXCarbon) was launched on September 26, 2023 by President Joko Widodo. The Financial Services Authority (OJK) appointed the Indonesia Stock Exchange (BEI) as the carbon exchange organizer.

Based on BEI Circular No. 00013/BEI/09-2023 regarding the cost of using Carbon Exchange services, BEI stated that it would not charge a registration fee for carbon units. The transaction fees for the carbon exchange are categorized based on four market types.

For the regular market, the transaction fee is 0.11 percent of the transaction value. The negotiated market incurs a 0.11 percent transaction fee, while the auction market and non-regular market both have a 0.22 percent transaction fee.