Indonesia’s coal trade announced plans to begin offering coal credit credentials to foreign customers next week to raise money to support efforts to achieve its coal independence goal.
Indonesia is an island with the country’s third-largest forest region, but is also one of the nation’s top 10 green home gas transmitters.
On Monday, January 20, the change announced its first offer of carbon credit certificates to foreign buyers.
According to state news agency Antara, the Ministry of Environment announced earlier this week that the certificates will be obtained as a result of emission reductions from a number of power projects on Java island worth 2.48 million metric tons of carbon dioxide equivalent ( CO2 ), according to state news agency Antara.
In September 2023, Indonesia began trading carbon emissions credits for local people, but the industry has been largely unliquid as a result of a lack of supply and demand.
Trading value as of December 2024 was 50.64 billion rupiah ( US$ 3.10 million ), while trading volume reached 908, 018 tons of CO2e, according to Indonesia’s Financial Services Authority.
Prabowo Subianto, the new leader, intends to raise money through selling of carbon offsets. He stated last year that he was positive that Indonesia would achieve net zero emissions by 2050, a generation earlier than previously anticipated, including through the retirement of coal-fired power plants.