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Jakarta Post

Indonesia's agency set to manage funds for environmental protection efforts, carbon trading

  • Kharishar Kahfi
    Kharishar Kahfi

    The Jakarta Post

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Jakarta   /   Fri, October 11, 2019   /  06:37 pm
The Jakarta Post Image
Smoke rises from a peatland fire in Pekanbaru, Riau province, on Feb. 1, 2018, one of 73 detected hotspots causing haze on the island of Sumatra. The haze is an annual problem in Indonesia caused by fires set in forest and on carbon-rich peatland in Indonesia to clear land for oil palm and pulpwood plantations. (AFP/Wahyudi)

Indonesia is one step closer to implementing a carbon-pricing scheme within the domestic market as part of efforts to achieve its emission-reduction targets following the launch of a public service agency (BLU) tasked with managing funds related to environmental protection and conservation. The BLU is expected to be more flexible in managing environmental funds from domestic and international sources as well as disbursing them for pro-environment initiatives. The agency, named the Indonesian Environmental Estate Fund (BPDLH), was jointly launched by three ministries namely the Office of the Coordinating Economic Minister, the Finance Ministry and the Environment and Forestry Ministry on Wednesday. Finance Minister Sri Mulyani Indrawati said the agency would have several functions, such as financially supporting ministries and governmental institutions in carrying out environment...