In September 2023,Indonesia launched the country's first carbon credit exchange, and Indonesian President Joko presided over the opening ceremony of the carbon exchangeRepresents,The carbon market provides funding for Indonesia's carbon reduction effortsBesides, there are alsoWill assist Indonesia in achievingThe emission reduction commitments made in the 2015 Paris Agreement contribute to preventing global warming exceeding 1.5 degrees Celsius, and ultimatelyHelp IndonesiaBecoming a major participant in global carbon credit trading.

Indonesia is the third largest archipelago country in the world in terms of rainforest area and one of the largest emitters of greenhouse gases.Indonesia has great potential in natural based solutions and has become the only60% of carbon emissions reduction comes from natural countries.

Indonesia's goal is toRealize carbon neutrality by 2060. start-upThe carbon exchange is a practical contribution made by Indonesia to cope with the climate crisis and climate change crisis together with the world, and the proceeds of these transactions will be reinvesteduseTo protect the environment.

Mahendra, Chairman of the Indonesian Financial Services AuthorityexpressThe government hopes that99 coal-fired power plants can participate in carbon market trading, accounting for approximately 86% of the total number of coal-fired power plants in Jakarta. At present, Indonesia has only set emission caps for the power generation sector,As more economic sectors implement emission caps, more businesses will enter the carbon market for trading.

The largest coal power plants in Indonesiastay2023Trial carbon quota trading has started in February. The Indonesian government is formulating national pollution regulations, including imposing a carbon tax on businesses whose emissions exceed the limit. governmentstillEstablish carbon emission caps for the other four areas, namely forestry, industrial processes and product use, agriculture, and waste management.

Regarding carbon trading, Zoko emphasized three aspects. Firstly, it is necessary to refer to international carbon standards and use technology for trading to improve efficiency and effectiveness. Secondly, there must be goals and timelines, whether for the domestic market, future foreign markets, or international markets. Thirdly, in accordance with the practice of the international community, regulate and promote the voluntary carbon market, and ensure that international standards do not affect Indonesia's national independent contribution goals.

The Indonesian carbon market is operated by the Indonesian Stock Exchange and regulated by the Financial Services Authority. At the opening of the carbon exchangeOn the same day, carried out13 carbon quota transactions, equivalent to 459914 metric tons of carbon dioxide emissions, priced at IDR 69600 per metric ton, far below the EU's $80 per metric ton or more. The seller is a geothermal energy subsidiary of Pertamina in North Sulawesi Province, with buyers including Central Asia Bank, Wanzili Bank, other departments of Pertamina, mining companies, and others.