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Jakarta Post

Carbon market hot issue ahead of climate summit

  • Kharishar Kahfi

    The Jakarta Post

Jakarta   /   Thu, November 28, 2019   /  06:24 pm
The Jakarta Post Image
The archipelago has approximately 3 million hectares of mangroves and seagrass with carbon storage equaling 6 percent of the carbon stored in the entire forest biomass in the country. (JP/Markus Makur)

Ahead of the annual United Nations’ Climate Change Summit, the government is preparing to open a domestic carbon market as part of efforts to fulfill its international commitment to reducing greenhouse gas emissions. Dida Gardera, environment assistant deputy at the Office of the Coordinating Economic Minister, said the government was close to opening the first domestic carbon market in the country as stipulated in Government Regulation No. 46/2017 on environmental economic instruments. Article 27 of the regulation stipulates that environment funds can be sourced from carbon trading revenue, among other sources. “While many issues are still under deliberation right now, it is most likely that we will use the emissions-trading system, commonly known as the cap and trade mechanism,” Dida told journalists during a press briefing on Wednesday. Under the ...