Jakarta, Indonesia Sentinel — The Indonesia Stock Exchange (IDX) has reported encouraging developments in its carbon trading platform, IDXCarbon, as it enters 2025. This year, IDXCarbon boasts six carbon credit projects available for trading, reflecting growing momentum in carbon transactions and fostering the development of a green economy in Indonesia.
Since its launch on September 26, 2023, IDXCarbon has achieved a cumulative trading volume of 1,000,000 tons of CO2 equivalent (tCO2e). By the end of 2024, the platform had attracted 100 registered users, signaling increasing interest in carbon trading.
First Authorized International Carbon Credit Trade
Jeffrey Hendrik, Director of Development at IDX, highlighted the regulatory framework supporting carbon credit trading. Presidential Regulation No. 98/2021 and Ministry of Environment and Forestry Regulation No. 21/2022 outline the mechanisms for authorizing carbon credits for foreign transactions.
“The inaugural trading of authorized carbon credits is scheduled for January 20, 2025, pending approval from the Ministry of Environment and Forestry,” Jeffrey stated on Monday, January 13, 2025, as reported by Detik Finance.
While he did not disclose specific trading volumes, Jeffrey noted that one of the initial projects slated for authorization is operated by PLN Group, listed on both the National Registry System (SRN) and IDXCarbon.
New IDXCarbon Projects
According to Detik Finance, IDXCarbon welcomed three new carbon credit projects in Indonesia at the start of 2025, further enhancing its portfolio. These include:
- PLN Indonesia Power’s Natural Gas-Fired Power Plant
- Project: Operation of the Priok Block 4 Combined Cycle Power Plant.
- Carbon Credits: 763,653 tCO2e.
- Vintage Year: 2021.
- PLN Indonesia Power’s Single Cycle Conversion
- Project: Conversion of Grati Block 2 from Single Cycle to Combined Cycle.
- Carbon Credits: 407,390 tCO2e.
- Vintage Year: 2021.
- PLN Nusantara Power’s Muara Tawar Conversion
- Project: Conversion of Muara Tawar Block 2 from Single Cycle to Combined Cycle.
- Carbon Credits: 30,000 tCO2e.
- Vintage Year: 2023.
All the carbon credit projects are classified under Indonesia Technology Based Solutions (IDTBS), indicating technology-driven carbon reduction efforts originating in Indonesia.
International Market Entry
The upcoming international carbon trading market has garnered significant attention. “The opening of this international market has been met with enthusiasm from various stakeholders. We’ve received numerous inquiries from foreign media and prospective buyers,” Jeffrey added.
Existing Projects and Continued Growth
In 2024, three notable projects added to IDXCarbon include:
- Lahendong Units 5 and 6 by PT Pertamina Geothermal Energy Tbk.
- Muara Karang Block 3 Combined Cycle Power Plant by PJB.
- Gunung Wugul Minihydro Power Plant.
As IDXCarbon gains traction, it is poised to play a pivotal role in advancing Indonesia green economy and positioning the country as a key player in the global carbon credit market.
(Raidi/Agung)
