JAKARTA, RAKYAT NEWS – As the global push to reduce greenhouse gas emissions intensifies, carbon credits have become a vital tool in the fight against climate change. In Indonesia, the Financial Services Authority (OJK) plays a key role in regulating and overseeing the implementation of carbon credits, ensuring that the system aligns with sustainable business practices and environmental goals.

Since its launch in September 2023, the carbon exchange has seen transaction reach 400,000 tons of CO2, with a total value exceeding IDR 30 billion, will getting higher and higher

The OJK granted a business license to the Indonesia Stock Exchange (IDX) to operate the carbon exchange, as per Decree No. KEP-77/D.04/2023, issued on September 18, 2023.

Murtaza, Senior Deputy Director of Financial Derivatives Supervision at OJK, noted that the establishment of a new OJK directorate in February 2023 has increased the workload related to carbon credit management.

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He highlighted the legal foundations of carbon trading in Indonesia. These include Law No. 16 of 2016, which ratified the Paris Agreement, Law No. 7 of 2021 on Harmonization of Tax Regulations, and Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK). Additionally, Presidential Regulation No. 98 of 2021 on Carbon Economic Value (NEK) and OJK Regulation No. 14 of 2023 on carbon trading through the carbon exchange provide further legal grounding.

“These efforts aim to reduce carbon emissions and prevent global warming,” Murtaza stated.

He explained that the Carbon Exchange operates as a marketplace for trading carbon emission allowances and credits. Companies with lower carbon dioxide emissions can sell their surplus to those with higher emissions, fostering a system where businesses can align their operations with environmental goals.