Pertamina, IDX to Set Up Carbon Trading Market

PT Pertamina cooperates with the Indonesia Stock Exchange (IDX) to run carbon trading by signing a memorandum of understanding on Tuesday. IDX, which will likely organize the carbon exchange in Indonesia, can support Pertamina's plan to develop the Carbon Business Build initiative. Later, Pertamina and IDX will review the potential for business cooperation to increase knowledge and optimize their respective duties and functions in implementing voluntary and compliance carbon markets.

Pertamina's Director of Strategy, Portfolio and Business Development A. Salyadi Dariah Saputra said there are four potential forms of carbon trading cooperation between the two parties: utilizing IDX's carbon trading infrastructure in transactions through the carbon exchange in Indonesia; developing national carbon trading ecosystem; internal, national, and/or international carbon trading pilots; and knowledge sharing related to national and/or international carbon trading business development.

"This collaboration with the IDX is the next stage of our exploratory steps for the carbon business as an effort to accelerate the development of the national and international carbon trading ecosystem," Salyadi said.