Jakarta (ANTARA) - Coordinating Economic Affairs Minister Airlangga Hartarto, at the ASEAN Business and Investment Summit (ABIS) 2023, here on Sunday (September 3), underscored the need for ASEAN to work together in carbon trading in order to anticipate climate change.

"It is important that all ASEAN (member countries) work together because the climate fund as well as carbon trading is very important for the future of sustainability," he affirmed.

ABIS, held on September 3-4 in Jakarta, is a side event of the upcoming 43rd ASEAN Summit that will take place in Jakarta on September 5-7 under Indonesia's chairmanship.

Indonesia is holding the ASEAN chairmanship in 2023 with the theme of "ASEAN Matters: Epicentrum of Growth." The vision of Indonesia's chairmanship, among others, is to build a resilient, adaptive, and inclusive ASEAN.

Hartarto noted that Singapore and Malaysia are working on different systems of carbon trading.

As for Indonesia, through the Financial Services Authority (OJK), it is also developing a policy regarding carbon exchange as stipulated in OJK Regulation Number 14 of 2023 on Carbon Trading through the Carbon Exchange.

In this context, ASEAN countries can cooperate for carbon trading.

"We do not want ASEAN to be divided and conquered by other green financing globally. We (Indonesia) need a collaboration with other ASEAN countries," he remarked.

The minister further stated that the ASEAN needs to optimize the private sector, resources, networks, and technology to seek solutions for socioeconomic and climate change challenges.

On that occasion, he also underlined the importance of strengthening the private sector's role in reducing geopolitical fragmentation risks.

This can be achieved through the collaboration of the public and private sector in the development of an open, non-discriminatory, and rule-based multilateral economic architecture, he explained.

He underscored the need for the private sector to seize the new growth opportunity.

ASEAN's private sector is also encouraged to work together with other business councils to explore potential areas for collaboration.

He also stated that the ASEAN private sector should maximize local economic linkages and engage micro, small, and medium enterprises (MSMEs). (INE)

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Translator: Imamatul Silfia, Raka Adji
Editor: Tia Mutiasari
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