"We will also focus on sales, as there will be a special session for sellers to meet buyers, in which we will explain and encourage carbon trading," the Deputy Minister of Environment, Diaz Hendropriyono, remarked during a preparatory meeting with the Indonesian delegation in Jakarta on Wednesday.
At the event, Indonesia will present the potential for carbon trading in the country, including nature-based carbon from the forestry and marine sectors, as well as from other sectors, including energy, he continued.
Hendropriyono noted that several countries have expressed interest in Indonesia's carbon trading potential, including Norway, with interest in purchasing 12 million tons of carbon dioxide equivalent (CO2e).
However, the proposed mechanism differs from direct carbon buying, instead involving investment in sustainable development projects, including renewable energy such as solar power plants (PLTS), he added.
"Norway is willing to subsidize solar panel projects that lack economic viability, so they can proceed," he pointed out.
He said that Indonesia also sees potential carbon cooperation with South Korea in the palm oil sector and with Japan for Renewable Energy Certificates (RECs).
"South Korea has expressed interest in carbon credits from POME (Palm Oil Mill Effluent) from the palm oil sector. We will observe the conventionalization development, because we already have a previous MoU with South Korea that will expire in 2026," he noted.
In addition, Indonesia is also processing a Mutual Recognition Agreement (MRA) with Verra, a carbon market standards and registration body, after previously reaching an agreement with Gold Standard this year.
"We will surely encourage greater carbon trading through MRAs with international standards. We hope to keep this going," Hendropriyono stated.
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Translator: Prisca Triferna, Resinta Sulistiyandari
Editor: Azis Kurmala
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