OJK to Launch Carbon Exchange in September

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TEMPO.CO, Jakarta – Chairman of Financial Services Authority (OJK) Mahendra Siregar ensures that Indonesia’s carbon exchange will be launched in late September 2023. Currently, the Ministry of Law and Human Rights is still processing the release of OJK regulation on carbon exchange.

“[Carbon exchange] will be launched in late September. We are still awaiting the government’s decision [on the regulation],” he said when met in East Jakarta, on Sunday, August 20, 2023.

Previously, the Chief Executive of Capital Markets, Financial Derivatives, and Carbon Exchange Supervisor of OJK Inarno Djajadi said that the regulation has been numbered with PIJK No. 14 of 2023. The regulation will provide the legal definition of carbon exchange to the requirement, permit, and steps to conduct carbon exchange trade.

OJK was authorized to maintain and supervise carbon exchange in Indonesia by P2SK Law.

According to OJK, several companies have shown interest to be the organizer for carbon exchange. However, Inarno said, not one of them has submitted the document needed to OJK. “When [OJK] is ready with the regulation, [the company] will surely submit them. So, I am unable to reveal the exact number of companies interested,” he said.

Meanwhile, around 99 coal power plants are expected to enter carbon exchange this year. Vice Chairman of the Board of Commissioners OJK Mirza Adityaswara said the number equals 86% of the total coal power plants operating in Indonesia. Other sectors such as forestry and oil and gas are also expected to enliven Indonesia’s carbon trading.

RIANI SANUSI PUTRI | RIRI RAHAYU

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