Hashim Djojohadikusumo - image source: Katadata
Hashim Djojohadikusumo, Special Envoy of the President for Climate and Energy, said that Indonesia's carbon trading transactions only reached 50 thousand tons of CO2 equivalent.
The Financial Services Authority (OJK) noted that the volume of international carbon trading transactions on the Indonesia Carbon Exchange (IDX Carbon) reached 49,545 tons of CO2 equivalent (tCO2e) as of February 24, 2025.
The carbon exchange regulation is regulated in Presidential Regulation (Perpres) No. 98/2021 on the Implementation of Carbon Economic Value for Achieving Nationally Determined Contribution Targets and Controlling Greenhouse Gas Emissions in National Development.
“This is a very small amount, it’s a bit embarrassing actually. The source of carbon that is traded also comes from industry, right?” Hashim said on Thursday, February 27, 2025.
Hashim cited that the carbon credits that experts are interested in are nature-based solutions.
He said further that he held a meeting with the Ministry of Environment and the Ministry of Forestry several weeks ago to discuss carbon recording standards.
"We have to make some changes in the regulations. I think the Presidential Regulation issued by (7th) President Joko Widodo has to be amended. That will take a few months, hopefully a few weeks," he said.
According to him, a number of British companies have expressed interest in the carbon market sector in Indonesia. The government, in an effort to accommodate their interest, has agreed to use global verification standards, such as Vera and Gold Standard, which have been recognized by countries in Asia.
He believes that this will be a breakthrough for the carbon market in Indonesia, which has huge potential for nature-based solutions along with vast areas of forests, mangroves and seagrass beds.
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