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Indonesia prepares carbon-trading rule ahead of COP26
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President Joko "Jokowi" Widodo (center), accompanied by Foreign Minister Retno LP Marsudi (left), attentively observe presentations made by world leaders during the UN Climate Change Summit in Paris, on Nov. 30, 2015. (Tempo/-)
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ndonesia is preparing its own carbon-trading regulation ahead of the 26th United Nations Climate Change Conference (COP26) in Glasgow, Scotland, next week as it prioritizes, among other issues, pushing for the completion of international rules to govern carbon-emissions trading in the summit.
Parties to the Paris Agreement have been unable to agree on detailed provisions on carbon-emissions trading and other forms of international cooperation under Article 6 of the agreement, which is one of the articles left unresolved in the 2018 Paris rulebook – a guiding document to implement the agreement.
The Environment and Forestry Ministry’s climate change management director general Laksmi Dewanthi said that finishing the Paris rulebook, including resolving issues related to the implementation of Article 6, was one of the top priorities for Indonesian delegates at the climate conference.
In the anticipation that the COP26 parties could finally agree on several issues left in the rulebook, Indonesia was preparing its own carbon-trading regulation, Laksmi said.
“Currently, Indonesia is completing a draft of a Presidential Regulation on carbon economic value, which will regulate issues such as carbon trading [mechanisms], carbon offset and results-based payment [from carbon-emission reduction],” said Laksmi in an online discussion on Wednesday.
The regulation has been drafted since last year after it was initially announced that Indonesia had received US$56 million from Norway as part of the $1 billion grant promised under the REDD+ cooperation scheme. The scheme, however, was unilaterally terminated by the Indonesian government last month as it claimed to have never received the promised grant.
Read also: Indonesia, Norway in blame game over collapsed deforestation pact
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