Indonesian President Joko Widodo launched the country's first carbon exchange, IDXCarbon, at the Indonesia Stock Exchange (IDX). IDXCarbon aims to create sustainable economic opportunities and support environmentally friendly initiatives, particularly in nature-based solutions. President Widodo highlighted Indonesia's potential for carbon reduction, with the carbon market's growth potential estimated at IDR3,000trn. The exchange offers transparent, fair, and efficient carbon trading mechanisms and is connected to the National Registry System for Climate Change Control to prevent double counting of carbon units. In its initial trades, IDXCarbon recorded transactions for 459.953 tons of carbon units, with most credits originating from geothermal projects in North Sulawesi.

Source: ESGNewsasia