TEMPO.CO, Jakarta - The Financial Services Authority (OJK) reported that until September 29, 2023, the value of carbon trade surpassed Rp29.21 billion since its launch three days prior.

"The volume of traded carbon units is 459,953 tonnes of CO2 equivalent," said the Executive Head of OJK's Capital Market, Derivatives, and Carbon Exchange Supervisor Inarno Djajadi in a virtual press conference on Monday, October 9, 2023.

Inarno mentioned that there are sixteen carbon actors involved in the transactions with one trader, PT Pertamina Geothermal Energy, and 15 buyers. The carbon units are based on Pertamina New and Renewable Energy from the Lahedong project in North Sulawesi.

"The project is registered as an Emission Reduction Certificate (SPE-GRK) from the Indonesia Tech Based Solution series," Inarno explained.

Earlier, the Head of OJK's Board of Commissioners Mahendra Siregar mentioned that the Carbon Exchange development is a historical momentum to support the government to reduce GHG emissions. Indonesia targets a 31.98% carbon reduction without international support and a 43.2% reduction with international support by 2030.

"Carbon Exchange Indonesia will be one of the biggest and most important carbon exchanges in the world for its volume and the diversity of carbon units and its contribution to national and global carbon emissions reduction," Mahendara said on Monday, September 26.

RIRI RAHAYU | DEFARA DHANYA PARAMITHA

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