Minister Luhut Claims Carbon Sequestration A Huge Investment Potential

TEMPO.CO, Jakarta - Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan mentioned that Indonesia has a huge potential in the carbon sequestration industry. 

"Indonesia currently has a potential for carbon emissions sequestration amounting to 400 gigatonnes, a huge business and investment opportunity," he claimed during the International and Indonesia CCS Forum 2023 in Jakarta on Monday, September 11, 2023.

Luhut mentioned that the potential is ever-increasing with carbon capture and storage (CCS) technology which stores carbon emissions underground to be absorbed by the earth. "CCS is a promising technology which has been implemented at the global level," he said. The technology, he added, is deemed as a license to invest for carbon emissions reduction investors.

Thus, Luhut said that Indonesia has been focusing on CCS development since the beginning of 2023. Currently, Luhut said that mineral and energy resources facilities in Indonesia from Aceh to Papua are technically able to implement the technology. 

According to Luhut, Indonesia aims to become a CCS hub in the next few years. Luhut also mentioned that globally, CCS investment has reached US$6.4 billion with US$1.2 billion located in Asia.

"Indonesia ought to be the main part of [CCS] investment," he said. Thus, CCS development in Indonesia is an opportunity for investors to gain long-term profit while simultaneously fulfilling the net zero emissions responsibility.

SULTAN ABDURRAHMAN

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