According to him, the carbon trading exchange has an important role in adding incentives to boost domestic economic growth by 8 percent.
"If Indonesia's (government) wants (the economy) to grow by 8 percent, (if RI) wants to become a country to be acknowledged globally, then one of the opportunities that can be provided is through the carbon market," he added, according to a statement issued in Jakarta on Friday.
Speaking at the Sustainability Action for the Future Economy or Katadata SAFE 2024, he said that currently, the carbon price on the European carbon exchange has reached 100 euros per ton of CO2.
The figure is significant compared to the carbon price on the domestic exchange, which is US$2 per ton of CO2.
"In Norway, the price is already US$50, while in Europe, in general, it has reached 100 euros. Yesterday, we started at a price of US$2, so it is still very far," he said.
He said that one of the obstacles is that the carbon market ecosystem is yet to be built in Indonesia. However, he lauded the launch of IDX Carbon by the Indonesia Stock Exchange last year.
"Last year, the IDX carbon market was launched, the trading is currently running, although it is still far from significant," he noted.
William said he is confident that once the carbon trading ecosystem is complete, the trading value could reach Rp160 thousand trillion, assuming the carbon price remains the same as in the European market.
However, a well-established ecosystem is needed to achieve this.
"We are not just talking about Rp8 thousand trillion if the price is US$5 per ton, but we can talk up to Rp160 thousand trillion. The question is whether the carbon market ecosystem will be developed seriously or not," he said.
IBC is an association of entrepreneurs who are committed to increasing Indonesia's competitiveness and economic growth through research.
In carrying out its mission, IBC is focusing on four research pillars, namely research on economic growth, research on human resource development, discussions about strengthening governance, as well as discussions on innovation and climate.
One of the issues that IBC is pushing through the fourth pillar is the role of the carbon exchange in accelerating the economy and realizing the commitment to reducing greenhouse gas emissions.
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Translator: Ahmad Wijaya, Yashinta Difa
Editor: Aditya Eko Sigit Wicaksono
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