"Indonesia is more than ready to develop a blue carbon ecosystem through comprehensive investments, with effective partnerships from all stakeholders and integrated financial mechanisms," he noted in a statement here Tuesday.
Pandjaitan made his online remarks at the opening of a talk show held at the Indonesian Pavilion, COP27 in Egypt on Monday (Nov 7).
In the talk show titled "Mainstreaming Investment and Partnership for Blue Carbon Development," the minister emphasized the importance of partnership and investment in blue carbon development, considering the crucial role of marine and coastal ecosystems for the global climate.
Indonesia, along with Brazil and the Democratic Republic of Congo, are countries with the largest tropical forests and wetlands, including peatlands and mangroves, in the world.
"We are committed to preserving sustainable management and restoring this critical ecosystem," he remarked.
Pandjaitan also invited countries with the largest tropical forests to collaborate and strengthen partnerships to face the challenges of climate action while taking into account the welfare of the environment and society.
Indonesia has abundant natural resources and is home for the vast marine biodiversity.
"We have the largest mangrove ecosystem, around 3.36 million hectares, which is 23 percent of the world's mangrove area, three million hectares of seaweed habitat and coral reef biodiversity," he said.
Pandjaitan said mangroves are considered the most effective ecosystem for carbon storage due to their high capacity to absorb and store atmospheric carbon.
Hence, the Indonesian government has implemented a rehabilitation program for 600 thousand hectares of mangrove area to support the targeted reduction of carbon emissions by 31.9 percent without conditions and 43.2 percent with international support as stated in the enhanced Nationally Determined Contributions (NDC).
"I really hope this event can refresh our ideas and commitment to protect our coastal areas and achieve low-carbon development goals," he stated.
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