The Indonesia Stock Exchange (IDX) is set to work with MetaVerse Green Exchange (MVGX), a Singapore-based digital green exchange, to develop its first carbon credit trading platform in a bid to incentivize domestic high-emitting industries to reduce their emissions.
Jeffrey Hendrik, IDX director of business development, said the IDX was currently exploring the possibility of becoming a carbon exchange in Indonesia, noting that the government had recognized the financial services industry's critical role in strengthening the country's sustainability commitments.