Indonesia reaffirmed its dedication to the green economy transition and carbon emission reduction at the UN Climate Change Conference (COP29) in Baku, Azerbaijan. Led by Special Presidential Envoy for Climate Change Hashim Djojohadikusumo, the Indonesian delegation participated in strategic meetings to enhance global cooperation in tackling the climate crisis. Minister of Environment and Forestry Hanif Faisol Nurofiq emphasized Indonesia's proactive efforts in achieving the Paris Agreement targets, focusing on mutually beneficial partnerships rather than relying solely on international aid.
A key focus was carbon trading, with Indonesia implementing the Mutual Recognition Arrangement (MRA) with Japan under Article 6.2 of the Paris Agreement. The government is also fast-tracking renewable energy adoption by introducing the Indonesian Emission Reduction Certificate (SPEI) and finalizing a carbon trading roadmap within three months. President Prabowo Subianto's administration remains committed to climate action while targeting 8% economic growth, aiming for net-zero emissions by 2060 or sooner. Financial institutions, including Bank Mandiri, are driving sustainable financing initiatives. Additionally, Indonesia plans to expand renewable energy infrastructure, develop smart grids, and restore 12 million hectares of degraded forests, balancing economic progress with environmental sustainability.
