Standard Chartered Indonesia, the Government of the United Kingdom and Northern Ireland, and the British-Indonesian Chamber of Commerce (BritCham) held a roundtable in London on Wednesday, November 20, 2024 discussing carbon market opportunities in Indonesia.
The event was attended by Rino Donosepoetro, Chairman of BritCham; Cluster CEOs from Indonesia and ASEAN markets; Standard Chartered; Hashim Djojohadikusumo, Special Presidential Envoy for Climate and Energy; and Kerry McCarthy, UK Minister for Climate.
The meeting discussed carbon market opportunities in Indonesia, including credit prices and volumes, how to unlock these opportunities through policy and regulatory development, and collaboration between the public and private sectors.
Donny, Rino Donosepoetro’s nickname, underlined the development of priority sectors in Indonesia such as renewable energy, electric vehicles (EV), and downstream industries, which show Indonesia’s commitment to the economy to achieve the net-zero target by 2060.
He cited that this ambition is urgent as Indonesia’s energy needs are projected to grow by 42 percent by 2030 that it is necessary to accelerate the transition to sustainable solutions.
In total, Indonesia needs an investment of US$235 billion (Rp3,740 trillion) by 2030 to be able to transition to a cleaner energy mix.
Meanwhile, the downstream industry in Indonesia needs US$600 billion to process 26 main commodities such as nickel, copper, and tin.
Despite playing an important role in Indonesian economy development. these sectors have obstacles, especially in obtaining funding, encouraging policy alignment, and ensuring sustainable development.
The event also brought together CEOs from 19 British companies to hear directly from President Prabowo about his priorities to encourage investment and achieve growth of 8 percent.
The Indonesian president also explored areas of cooperation between industries, investment opportunities and how to achieve sustainable growth.
The event attracted a number of business communities in the UK to various priority sectors in Indonesia including energy transition, education infrastructure, and health.
