Indonesia targets $1 bln in carbon trade at COP30

Indonesia aims to generate IDR16 trillion (nearly $1 billion) from carbon credit transactions during the 30th United Nations Climate Change Conference (COP30) in Belem, Brazil.

Minister of Environment Hanif Faisol Nurofiq said the Indonesian delegation hopes to sell 90 million tons of carbon credits from both nature-based and technology-driven sectors.

He said the country aims to achieve total transactions worth IDR16 trillion through forest and marine ecosystem credits, as well as energy and industrial projects.

Nurofiq said the effort is part of Indonesia’s strategy to cut greenhouse gas emissions while spurring economic growth under Presidential Regulation No. 110 of 2025 on carbon economic value.

He urged delegates to use Indonesia’s “soft power” in international negotiations through the Indonesia Pavilion and related engagement forums at COP30.

The Belem Leaders' Summit, held on November 6-7, gathered global leaders to strengthen joint climate action.

Indonesia’s delegation included Minister of Forestry Raja Juli Antoni and Special Presidential Envoy for Energy and Climate Change Hashim Djojohadikusumo.

Djojohadikusumo told the summit that President Prabowo Subianto’s administration is accelerating efforts to reduce reliance on coal, expand renewable energy, and promote biofuels such as biodiesel and bioethanol. These initiatives align with Indonesia’s long-term environmental sustainability goals.

The two-day summit served as a prelude to COP30, scheduled for November 10-21 in Belém.

During the conference, Indonesia will open its pavilion to showcase emission reduction initiatives and host daily one-hour “sellers-meet-buyers” sessions to facilitate carbon trade deals.

Officials said the government’s ambitious carbon market agenda reflects Indonesia’s broader commitment to achieving its emission reduction targets and strengthening its role in the global green economy.