Indonesia Opens Domestic Carbon Market to Global Investors Indonesia Opens Domestic Carbon Market to Global Investors.

IDXCarbon, operated by Indonesian stock exchange, began offering domestic credits from five energy generation projects owned by state-owned utility PT Perusahaan Listrik Negara. Indonesia sold 41,822 tons CO2E priced at 96,000 rupiah per ton for energy efficency projects (gas plants) and 114,000 rupiah per ton for renewables (a mini hydro plant), according to exchange data.

President Prabowo Subianto, who aims to generate billions of dollars in revenue from the carbon sector, has pledged to accelerate by a decade the nation’s current target to hit net-zero by 2060. Indonesia would need investment of as much as $3.8 trillion in renewable energy, power grid capacity and electric vehicles to zero out its emissions by mid-century.

Since its launch on September 2023, IDXCarbon has suffered from weak demand, in part of because of Indonesia’s delays in implementing a emissions cap-and-trade system. The bourse traded a total of 413,764 tons of credits in 2024, with an average price of 47,682 rupiah ($2.90), according to exchange data.

Source: FINANCE.YAHOO