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Selasa, November 16, 2021

Road to Achieving Indonesia's NDC Target: Govt. Issues Regulation on the Organization of Carbon Economic Value

Energy Environment

The Indonesian Government recently issued Regulation of the President No. 98 of 2021 on the Implementation of Carbon Economic Value to Achieve Nationally Determined Contribution Targets and Control over Greenhouse Gas Emissions in Relation to National Development ("Regulation 98/2021") in order to implement the country’s commitment to addressing climate change in the wake of the ratification of the Paris Agreement. Said climate change commitments were originally set out under Law No. 16 of 2016 on the Ratification of the Paris Agreement to the United Nations Framework Convention on Climate Change, which addresses the government’s obligation to reduce Indonesia’s greenhouse gas emissions ("GHG"), as stipulated under the country’s nationally determined contribution ("NDC") to limit any increase in global average temperatures to the 1.5℃ - 2℃ range above pre-industrial temperature levels.
The scope of Regulation 98/2021 encompasses: 1) Efforts to achieve the NDC target; 2) Management of the implementation of carbon economic value (nilai ekonomi karbon – "NEK"); 3) Transparency framework; 4) Monitoring and evaluation; 5) Coaching and funding; and 6) Steering committee.
Efforts to achieve Indonesia’s NDC target will encompass the following measures: 1) The mitigation of climate change; and 2) Adaptation to climate change. The organization of efforts to mitigate climate change will involve the following areas/sectors: 1) Energy; 2) Waste; 3) Industry and product usage processes; 4) Agriculture; 5) Forestry; and/or 6) Other sectors, in accordance with scientific and technological developments.
The NEK will be implemented by ministries/institutions, regional governments, business actors and the general public through the following mechanisms: 1) Carbon trading; 2) Result-based payments; 3) Levies on carbon; and/or 4) Other mechanisms that are adopted in accordance with scientific and technological developments and which will be stipulated by the Minister of Environment and Forestry.
Regulation 98/2021 has been in force since 29 October 2021.

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The Indonesian Government recently issued Regulation of the President No. 98 of 2021 on the Implementation of Carbon Economic Value to Achieve Nationally Determined Contribution Targets and Control over Greenhouse Gas Emissions in Relation to National Development ("Regulation 98/2021") in order to implement the country’s commitment to addressing climate change in the wake of the ratification of the Paris Agreement. Said climate change commitments were originally set out under Law No. 16 of 2016 on the Ratification of the Paris Agreement to the United Nations Framework Convention on Climate Change, which addresses the government’s obligation to reduce Indonesia’s greenhouse gas emissions ("GHG"), as stipulated under the country’s nationally determined contribution ("NDC") to limit any increase in global average temperatures to the 1.5℃ - 2℃ range above pre-industrial temperature levels.
The scope of Regulation 98/2021 encompasses: 1) Efforts to achieve the NDC target; 2) Management of the implementation of carbon economic value (nilai ekonomi karbon – "NEK"); 3) Transparency framework; 4) Monitoring and evaluation; 5) Coaching and funding; and 6) Steering committee.
Efforts to achieve Indonesia’s NDC target will encompass the following measures: 1) The mitigation of climate change; and 2) Adaptation to climate change. The organization of efforts to mitigate climate change will involve the following areas/sectors: 1) Energy; 2) Waste; 3) Industry and product usage processes; 4) Agriculture; 5) Forestry; and/or 6) Other sectors, in accordance with scientific and technological developments.
The NEK will be implemented by ministries/institutions, regional governments, business actors and the general public through the following mechanisms: 1) Carbon trading; 2) Result-based payments; 3) Levies on carbon; and/or 4) Other mechanisms that are adopted in accordance with scientific and technological developments and which will be stipulated by the Minister of Environment and Forestry.
Regulation 98/2021 has been in force since 29 October 2021.

......

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Semua Fitur Paket Standard
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Monthly Law Review (MLR)
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