(Jakarta, 8th) Indonesia's Minister of Environment and Forestry, Hanif Faisol Nurofiq, announced that Indonesia is preparing to sign Mutual Recognition Agreements (MRA) with several countries, including Norway, to promote international carbon market cooperation.
Minister Nurofiq stated after signing an MRA with the "Gold Standard Foundation" on Thursday (May 8th) that Indonesia is actively expanding its cooperation base for carbon trading mutual recognition agreements, continuing the similar agreement signed with Japan last year.
"The fastest progress currently is with the agreement with Norway, with discussions having entered specific detail stages. We hope to start more intensive negotiation processes soon," he said. He revealed that the agreement with Norway is expected to be completed within one to two weeks.
Besides Norway, Indonesia is also interested in engaging in carbon trading mutual recognition agreement cooperation with countries like South Korea and Denmark, while seeking collaboration with international carbon credit certification organizations such as Verra and Plan Vivo.
Nurofiq pointed out that carbon trading is a part of Indonesia’s "carbon economy value" (NEK) mechanism, aimed at promoting greenhouse gas emission reduction, which also aligns with Indonesia's commitments in the Enhanced Nationally Determined Contributions (Enhanced NDC).
He added that Indonesia's carbon credit sources are not limited to the energy sector but also include ecosystems with high carbon storage like tropical rainforests, peatlands, and mangroves, demonstrating the country's advantages in natural ecology.
Indonesia and Japan established a carbon trading mutual recognition agreement based on Article 6.2 of the Paris Agreement during the 29th United Nations Climate Change Conference (COP29) last year, becoming a model of bilateral cooperation.
Minister Nurofiq stated after signing an MRA with the "Gold Standard Foundation" on Thursday (May 8th) that Indonesia is actively expanding its cooperation base for carbon trading mutual recognition agreements, continuing the similar agreement signed with Japan last year.
"The fastest progress currently is with the agreement with Norway, with discussions having entered specific detail stages. We hope to start more intensive negotiation processes soon," he said. He revealed that the agreement with Norway is expected to be completed within one to two weeks.
Besides Norway, Indonesia is also interested in engaging in carbon trading mutual recognition agreement cooperation with countries like South Korea and Denmark, while seeking collaboration with international carbon credit certification organizations such as Verra and Plan Vivo.
Nurofiq pointed out that carbon trading is a part of Indonesia’s "carbon economy value" (NEK) mechanism, aimed at promoting greenhouse gas emission reduction, which also aligns with Indonesia's commitments in the Enhanced Nationally Determined Contributions (Enhanced NDC).
He added that Indonesia's carbon credit sources are not limited to the energy sector but also include ecosystems with high carbon storage like tropical rainforests, peatlands, and mangroves, demonstrating the country's advantages in natural ecology.
Indonesia and Japan established a carbon trading mutual recognition agreement based on Article 6.2 of the Paris Agreement during the 29th United Nations Climate Change Conference (COP29) last year, becoming a model of bilateral cooperation.