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Jakarta Post

Local banks still shy to fund green projects: UN

  • Adianto P. Simamora

    The Jakarta Post

Jakarta   /   Thu, September 2 2010   /  09:59 am

Indonesian banks and financial institutions are reluctant to finance carbon trading projects — despite the government’s drive to cut emissions and fight climate change, says a UN report.

The report shows that Malaysia has 83 registered projects promoting clean development mechanisms (CDMs), surpassing 48 projects registered in Indonesia.

The Malaysian government has 176 approved CDM projects, Thailand has 133 and Indonesia has 131, the report said.

“We are very eager to see the local banking system finance CDM projects,” National Council on Climate Change (DNPI) CDM unit head Dicky Edwin Hindarto said Wednesday.

Dicky said that the investment climate was far more favorable in Malaysia, where the local banking system supported CDM projects.

Clean development mechanisms were developed under the Kyoto Protocol to allow companies in developing count...