Carbon Exchange Encourages Green Funding In Indonesia

Indonesia has prepared a funding strategy for reducing carbon emissions from the forestry sector and land use in general through a carbon exchanges, reported from Kompas.

This mechanism is considered promising because global investment is also starting to move towards it.

The chairperson of the Board of Commissioners, Financial Services Authority (OJK), Mahendra Siregar, said that President Joko Widodo has launched the Indonesian Carbon Exchange.

He added "this (exchange) aims to provide a market mechanism that will support the government's NDC targets while balancing the transition to a sustainable economy."

NDC is a national contribution document which is Indonesia's stepping stone to reduce carbon emissions in order to control climate change. From the results of the update in 2022, the target was increased by 31.89-43.2 percent until 2030, with a total reduction of more than 3,000 million tons of CO2, from the estimated emissions in 2010.

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