Friday 1 April 2022

New partnership to develop carbon marketplace in Indonesia

A new partnership has been announced between CarbonX and AirCarbon Exchange (ACX) to jointly develop a carbon marketplace in Indonesia.

They have signed a memorandum of understanding to provide carbon project developers in Indonesia with a domestic carbon market linked to ACX's international client order book.

The partnership will enable Indonesian buyers and sellers to immediately gain access to a global carbon marketplace with participants from 30 countries.

The initiative supports the country's green energy transition and ambition to achieve net zero emissions (NZE) by 2060.

CarbonX Commissioner Pandu Sjahrir said: “The carbon marketplace platform scheme created by CarbonX can contribute to assisting investment funding to achieve NZE targets. If all of this takes place optimally, Indonesia can produce a massive supply of carbon offsets and contribute to the NDC commitment, while also providing social and economic co-benefits.”

As of May 2021, ACX is claimed to be the world's first carbon-negative exchange, having offset its carbon emissions 12 months into the future - to May 2022 - through the Onil Stoves Guatemala Uspantan project.

It is committed to continuing to offset all its emissions 12 months forward.