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Indonesia Eco Capital, CCNG collaborate on building Indonesia’s net zero future
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Executives of the China Carbon Neutral Development Group (from left), CEO Zhong Guoxing, chief information officer Feihu Song and executive director and board chairman Sha Tao, pose with representatives of PT Indonesia Eco Capital (from center) president commissioner Haji Surianto, director Fiona Chaw, Ilham Ilyas and Hadi Lee, after signing a cooperation agreement on Nov. 8 in Hong Kong.
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T Indonesia Eco Capital and China Carbon Neutral Development Group (CCNG) have taken an important step together to fight climate change, by entering into a cooperative partnership to create an Indonesian business landscape for a better, brighter and greener future, in line with the government's aspirations.
Indonesia Eco Capital and CCNG signed a cooperation agreement on the establishment of PT Zero Carbon Future Indonesia on Nov. 8, 2023, in Hong Kong.
The newly formed company is a testament to the strong commitment of both companies in supporting the programs of Beijing and Jakarta to combat climate change. In particular, the Indonesian government has set an ambitious goal of achieving net zero emissions by 2060, the same year China also aims to achieve carbon neutrality.
"Today, I am happy to represent PT Indonesia Eco Capital in celebrating the signing of a cooperation agreement with China Carbon Neutral Development Group Limited to establish PT Zero Carbon Future Indonesia. This marks a significant step toward a brighter and more sustainable future," said Fiona Chaw, director of PT Indonesia Eco Capital.
Fiona continued by highlighting the importance of the two companies’ shared efforts and focus on carbon trading, web portals, digital platforms and management consulting.
She also underlined the potential and importance of the new partnership in shaping a sustainable future for Indonesia, in line with the government’s zero carbon goal.
Zhong Guoxing, CEO of CCNG, expressed his passionate and confident views on the partnership with Indonesia Eco Capital at the signing ceremony.
"China Carbon Neutral Development Group Limited has strong determination to be the executor of the Hong Kong-based Silk Road business strategy. The partnership with PT Indonesia Eco Capital is our strategic step in taking on a global role. We hope that sincere collaboration and combining the advantages of each company can produce abundant results," he said.
Haji Surianto, newly appointed as president commissioner of PT Zero Carbon Future Indonesia, also welcomed the partnership.
"Zero Carbon Future Indonesia is an important step toward the future that aims to raise awareness in the community about the potential of carbon credits and the optimal ways to use them economically and sustainably," Haji said, explaining that the new partnership was not only about business.
"It's about advancing awareness of the importance of environmental sustainability for the betterment of society as a whole,” he said.
Zero Carbon Future Indonesia would focus on using carbon credits as a vital tool for combating climate change, Haji said.
In a global context increasingly focused on emissions reduction, carbon credits are emerging as a potentially lucrative solution for companies and countries.
Signing the cooperation agreement was just the beginning of a promising journey toward a greener and more sustainable Indonesia, Haji underlined.
Zero Carbon Future Indonesia promises to be a significant driver of change, with a potential to push both Indonesia and Chine to achieve their climate goals.
The collaboration serves as a shining example of the positive impact of cross-border partnerships in addressing global challenges, raising hope for a future in which businesses actively contribute to a zero carbon world.
Opportunities in Indonesia
Meanwhile, the Financial Services Authority (OJK) launched the Indonesia Carbon Exchange (IDXCarbon) on Sept. 26, 2023.
Potential sources of carbon credits in Indonesia include natural, mangrove and protected forests, peatlands, forest reforestation and conservation and the use of electric vehicles. One carbon credit is equivalent to reducing 1 tonne of carbon emissions.
Potential markets for the program include export-oriented companies that recognize the need to use carbon credits to market their products in carbon-conscious destination countries. The mining and smelting industries are also promising markets for carbon credit.
