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Selasa, Agustus 15, 2023

OJK to Issue Legal Framework on Carbon Exchange: Business Sector Expected to Become Involved

Environment General Corporate

The Indonesian Government is hoping that the new Carbon Exchange will commence operations this year. Therefore, as a follow-up, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") has prepared various matters that relate to the supervision of the Carbon Exchange and that will hopefully support the government in its goal of reducing Greenhouse Gas ("GHG") emissions.
According to Mirza Adityaswara, Deputy Chairman of the OJK’s Board of Commissioners, the enforcement of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector mandates that the OJK should regulate and supervise the implementation of the carbon exchange in Indonesia. The OJK will therefore soon issue an OJK Regulation and Circular that address this matter.
Various regions of the country, specifically Kalimantan, Papua and Sumatra, are expected to contribute to Indonesia’s GHG emissions reduction goal. Mr. Adityaswara further stated that in order to accelerate the success of the prime organization of carbon units through the Carbon Exchange, some 99 Coal-Fired Steam Power Plants (Pembangkit Listrik Tenaga Uap – "PLTU") will potentially commence participation in carbon trading this year, which is equivalent to 86% of the total number of coal PLTU that are currently operating within Indonesia. In addition to the power-plant subsector, carbon trading will also be implemented through a number of other sectors, such as forestry, plantations, oil and gas, general industry and so forth.
For more on this story, see Hukumonline: “PJOK Bursa Karbon Segera Terbit, Ini Sektor Bisnis yang Diharapkan Terlibat”.

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The Indonesian Government is hoping that the new Carbon Exchange will commence operations this year. Therefore, as a follow-up, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") has prepared various matters that relate to the supervision of the Carbon Exchange and that will hopefully support the government in its goal of reducing Greenhouse Gas ("GHG") emissions.
According to Mirza Adityaswara, Deputy Chairman of the OJK’s Board of Commissioners, the enforcement of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector mandates that the OJK should regulate and supervise the implementation of the carbon exchange in Indonesia. The OJK will therefore soon issue an OJK Regulation and Circular that address this matter.
Various regions of the country, specifically Kalimantan, Papua and Sumatra, are expected to contribute to Indonesia’s GHG emissions reduction goal. Mr. Adityaswara further stated that in order to accelerate the success of the prime organization of carbon units through the Carbon Exchange, some 99 Coal-Fired Steam Power Plants (Pembangkit Listrik Tenaga Uap – "PLTU") will potentially commence participation in carbon trading this year, which is equivalent to 86% of the total number of coal PLTU that are currently operating within Indonesia. In addition to the power-plant subsector, carbon trading will also be implemented through a number of other sectors, such as forestry, plantations, oil and gas, general industry and so forth.
For more on this story, see Hukumonline: “PJOK Bursa Karbon Segera Terbit, Ini Sektor Bisnis yang Diharapkan Terlibat”.

......

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Semua Fitur Paket Standard
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Monthly Law Review (MLR)
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STANDARD

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Indonesian Legal Brief (ILB)
Daily Updates
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Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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