Selasa 05 Mar 2024 22:30 WIB

The Rule of Carbon Trading in Indonesia

Carbon trading in Indonesia is carried out both at home and abroad.

Rep: Ronggo Astungkoro/ Red: Erdy Nasrul
Implementation of carbon trading in Indonesia is carried out through domestic trade and foreign trade.
Foto: Freepik
Implementation of carbon trading in Indonesia is carried out through domestic trade and foreign trade.

REPUBLIKA.CO.ID, JAKARTA -- Carbon trading in Indonesia is carried out through domestic trade and foreign trade. Therefore, the assumption that Indonesia's carbon market for a closed foreign country is claimed to be incorrect. Overseas carbon trading through the transfer of carbon units can be carried out without government authorization nor is it called incorrect.

“One of the reasons due to the observance of the constitution is the state's mastery of natural resources for the greatest prosperity of the people, which requires Indonesia's carbon market to be regulated by the Government,” said Khairi Wenda, Director of Forest Utilization Business Control at the Ministry of Living and Forestry (MOL) Khairi Wenda in a press release, quoted Tuesday (5/3/2024).

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On the other hand, he said, international conventions leave it up to their respective countries to regulate international trade based on principles that have been outlined according to national interests. Included in it to fulfill the obligations of fulfilling the NDC of the country to which it has become a commitment.

For this reason, according to Khairi, the Regulation 98/2021 on the Implementation of the Economic Value of Carbon for Achieving Nationally Determined Contribution Targets and Controlling Greenhouse Gas Emissions in National Development has been published. There are also some rules for its implementation.

“Under the regulations governing carbon in question, business entities holding Forest Exploitation Approvals (PBPH) that will trade carbon are required to comply with those regulations, and for business entities holding PBPH holders who do not comply with these regulations will be subject to sanctions,” he said.

Khairi further stated that one form of sanction for the violation has been the freezing and revocation of forestry concession permits by the Ministry of Foreign Affairs. The application of sanctions, he said, constitutes the enforcement of regulations in carbon trading in Indonesia, which is in addition to compliance with the constitution, also in order to prevent double counting and double claims between countries.

“In a concerted effort to reduce carbon emissions in accordance with the Paris Agreement, it is to limit the global temperature rise below 2.0 degrees Celsius and strive towards 1.5 degrees Celsius,” Khairi explained.

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