FoLU Net Sink refers to a condition wherein the greenhouse gas emission absorption matches or is higher than the emissions produced by the forestry and land use sector.
"Financial cooperation and support from all parties, including businesspersons, is necessary to support Indonesia's ambitious target for handling climate change," Justianto said during a discussion at UN COP-27 in Egypt on Thursday (local time).
Based on calculations, the minimal investment required to implement the agenda, through four main activities, is US$14 billion, he informed.
Specifically, US$7.59 billion is required for reducing deforestation and forest degradation, while US$5.47 billion is needed for the development of plantation forests.
Further, US$0.82 billion is required for increasing carbon reserves, including through mitigation action toward sustainable forest management, while US$0.69 billion is needed for managing and restoring peatlands.
The government cannot work alone in implementing these actions to achieve the target that it has set, Justianto said.
Meanwhile, ministry official Ruandha Agung Sugadirman said that Indonesia is determined to achieve a condition wherein greenhouse gas emission absorption in the forestry and land use sector is equal to or even exceeds its emissions.
The target for FoLU Net Sink 2030 is reducing greenhouse emissions to minus 140 million tons of CO2 equivalent.
Based on the mitigation scenario, Indonesia's FoLU sector can reach Net Sink by 2030, he informed.
During the discussion, Justianto also highlighted several strategies that Indonesia has prepared to achieve FoLU Net Sink by 2030, including reducing deforestation and improving conservation efforts.
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Translator: Prisca T V, Fadhli Ruhman
Editor: Rahmad Nasution
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