Senin, September 25, 2023

BEI Introduces Mechanism for Carbon Unit Registrations

As PT Bursa Efek Indonesia ("BEI") has been approved as the organizer of carbon exchange (Penyelenggara Bursa Karbon – "PBK") by the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), the BEI has now issued the Rule ("Registration Rule") on Carbon Unit ("Units") Registrations ("Registrations") Through the PBK as the Appendix to Decree of the BEI Board of Directors No. KEP-00295/BEI/09-2023 ("Decree 295/2023"), which has been in force since 20 September 2023.
At its core, the Registration Rule states that the following types of Units are permitted to be registered and traded through the PBK: 1) Technical Emissions Ceiling Approvals for Business Actors (Persetujuan Teknis Batas Atas Emisi Pelaku Usaha – "PTBAE-PU"); and 2) Greenhouse Gas Emissions Reduction Certification (Sertifikat Pengurangan Emisi Gas Rumah Kaca – "SPE-GRK").
The above-described Units must first fulfill either of the following requirements prior to being traded through the PBK: 1) Must have been registered with the National Registry System for Climate Change Control (Sistem Registri Nasional Pengendalian Perubahan Iklim – "SRN PPI") or other Registration system organized by relevant governmental ministries that are connected to the SRN PPI; or 2) Must have been registered, validated and verified by an agency that has been accredited by an international Registration organizer that fulfills the requirements for overseas carbon trading, as well as other requirements determined by the OJK for Units that are not registered at the SRN PPI.
As the above-described Units are registered on an application basis, the Registration Rule states that Registration applications may be submitted by the following parties: 1) Carbon exchange service users ("Users"); 2) Candidate Users that are in the process of registering with the PBK; or 3) Relevant governmental ministries.
Broadly speaking, Registrations themselves are completed in several phases, which include: 1) For PTBAE-PU: pre-registration, registration and PTBAE-PU reduction; and 2) For SPE-GRK: initial registration, additional registration, SPE-GRK reduction and retirement of SPE-GRK.

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As PT Bursa Efek Indonesia ("BEI") has been approved as the organizer of carbon exchange (Penyelenggara Bursa Karbon – "PBK") by the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), the BEI has now issued the Rule ("Registration Rule") on Carbon Unit ("Units") Registrations ("Registrations") Through the PBK as the Appendix to Decree of the BEI Board of Directors No. KEP-00295/BEI/09-2023 ("Decree 295/2023"), which has been in force since 20 September 2023.
At its core, the Registration Rule states that the following types of Units are permitted to be registered and traded through the PBK: 1) Technical Emissions Ceiling Approvals for Business Actors (Persetujuan Teknis Batas Atas Emisi Pelaku Usaha – "PTBAE-PU"); and 2) Greenhouse Gas Emissions Reduction Certification (Sertifikat Pengurangan Emisi Gas Rumah Kaca – "SPE-GRK").
The above-described Units must first fulfill either of the following requirements prior to being traded through the PBK: 1) Must have been registered with the National Registry System for Climate Change Control (Sistem Registri Nasional Pengendalian Perubahan Iklim – "SRN PPI") or other Registration system organized by relevant governmental ministries that are connected to the SRN PPI; or 2) Must have been registered, validated and verified by an agency that has been accredited by an international Registration organizer that fulfills the requirements for overseas carbon trading, as well as other requirements determined by the OJK for Units that are not registered at the SRN PPI.
As the above-described Units are registered on an application basis, the Registration Rule states that Registration applications may be submitted by the following parties: 1) Carbon exchange service users ("Users"); 2) Candidate Users that are in the process of registering with the PBK; or 3) Relevant governmental ministries.
Broadly speaking, Registrations themselves are completed in several phases, which include: 1) For PTBAE-PU: pre-registration, registration and PTBAE-PU reduction; and 2) For SPE-GRK: initial registration, additional registration, SPE-GRK reduction and retirement of SPE-GRK.

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