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Indonesia projects to initiate its carbon exchange in September, with power generation companies the first to trade on it.

Indonesia could reach net-zero emissions by 2055, five years ahead of the government’s goal of 2060, if it receives financial and technology support, Indonesia’s Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said on Tuesday.

Indonesia’s Energy and Mineral Resources (ESDM) Ministry has revealed that the use of new and renewable energy (EBT) in 2022 reached 300 MW.

Perusahaan Listrik Negara (PLN), Indonesia’s state utility company, seeks a $700-million investment to deploy a 200 MW solar panel that will replace diesel power generators to reduce carbon emissions, the company announced on May 27.

The Indonesia Carbon Capture and Storage Center (ICCSC) was established on May 30 with hopes to help propel the country’s agenda to become a regional hub for carbon capture storage (CCS) solution.

Indonesia’s financial regulator said on May 5 that the government plans to launch a carbon exchange in the second half of this year, as part of efforts to boost renewable energy use and achieve net-zero emissions by 2060.

Indonesia's efforts to decarbonize the country's power generation sector took a significant step forward on Feb. 22 when the government initiated the first phase of mandatory carbon trading for coal-fired power plants.

Indonesia is one of the world's leading coal producers. Nonetheless, it has pledged to cut back on its usage of fossil fuels in the near future.

Last year, Indonesia signed five agreements to cut its carbon emissions. Among these was the $20 billion Ju

Indonesia plans to issue emission quotas for some coal-fired power plants this month as a first step toward developing a local carbon trading market, energy officials said last week.

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