POLICY

Indonesia to capture huge carbon stock value of forests
July 7, 2020

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JAKARTA (FORESTHINTS.NEWS) - Indonesian Environment and Forestry Minister Siti Nurbaya has emphasized that Indonesia’s potential, thanks to its extensive distribution of forests, peatlands and mangroves that are home to huge carbon stock value, should be utilized as much as possible for the well-being of the community.

To achieve this, a legal basis for carbon pricing arrangements in the form of a presidential regulation is expected to be completed by August. As such, Indonesia will have a solid legal system in place in its efforts to capture the massive carbon stock value of its forests.

Minister Nurbaya stressed that it is in the interest of the Indonesian government to set the carbon pricing arrangements in a responsible and accountable legal system.

These were among the matters reported by Minister Nurbaya to President Joko Widodo in a cabinet meeting (Jul 6), in addition to her presentation on the latest progress with regard to the Indonesia-Norway climate change partnership.

"Everything we are doing is part of our continuing efforts and actions on climate change in an engagement with the global community," the minister explained (Jul 6).

"Carbon pricing arrangements contribute to our strong legal foundation aimed at achieving our nationally determined commitment (NDC) target and supporting low carbon development," she added.

The following photos show a cabinet meeting in which the relevant ministers received President Widodo's directives on carbon pricing arrangements and global partnerships on climate change.

The minister pointed out that carbon trade and offsets, results-based payments (RPB), carbon taxes, and other relevant aspects of the huge carbon stock value of Indonesian forests, peatlands and mangroves will refer to the forthcoming legal instrument for carbon pricing arrangements.

"After the presidential regulation is introduced in the near future, the first follow-up action will be to formulate a long-term carbon economy roadmap," she said.

The distribution of the enormous value of Indonesia's carbon economy, the minister added, will be calculated and mapped based on land cover classes, with reference to Indonesian national standards (SNI) and forestry regulations.

New partnership until 2030

Minister Nurbaya also explained that the May 2010 letter of intent, which forms the basis of the climate partnership with Norway, is in the process of being reinforced to enable a new stronger partnership with Norway until 2030.

"We welcome Norway's announcement of the first results-based payment to reward Indonesia's success in reducing deforestation and forest degradation in 2016/2017," she said.

"Next, we will move forward to the second level of the RBP for the same achievements for 2017/2018 and the subsequent periods," Minister Nurbaya pointed out.



NORWAY , CLIMATE CHANGE , CARBON PRICING

RELATED STORIES


POLICY

Indonesia to capture huge carbon stock value of forests
July 7, 2020

facebookfinal.png wafinal.png twitterfinal.png emailfinal.png

JAKARTA (FORESTHINTS.NEWS) - Indonesian Environment and Forestry Minister Siti Nurbaya has emphasized that Indonesia’s potential, thanks to its extensive distribution of forests, peatlands and mangroves that are home to huge carbon stock value, should be utilized as much as possible for the well-being of the community.

To achieve this, a legal basis for carbon pricing arrangements in the form of a presidential regulation is expected to be completed by August. As such, Indonesia will have a solid legal system in place in its efforts to capture the massive carbon stock value of its forests.

Minister Nurbaya stressed that it is in the interest of the Indonesian government to set the carbon pricing arrangements in a responsible and accountable legal system.

These were among the matters reported by Minister Nurbaya to President Joko Widodo in a cabinet meeting (Jul 6), in addition to her presentation on the latest progress with regard to the Indonesia-Norway climate change partnership.

"Everything we are doing is part of our continuing efforts and actions on climate change in an engagement with the global community," the minister explained (Jul 6).

"Carbon pricing arrangements contribute to our strong legal foundation aimed at achieving our nationally determined commitment (NDC) target and supporting low carbon development," she added.

The following photos show a cabinet meeting in which the relevant ministers received President Widodo's directives on carbon pricing arrangements and global partnerships on climate change.

The minister pointed out that carbon trade and offsets, results-based payments (RPB), carbon taxes, and other relevant aspects of the huge carbon stock value of Indonesian forests, peatlands and mangroves will refer to the forthcoming legal instrument for carbon pricing arrangements.

"After the presidential regulation is introduced in the near future, the first follow-up action will be to formulate a long-term carbon economy roadmap," she said.

The distribution of the enormous value of Indonesia's carbon economy, the minister added, will be calculated and mapped based on land cover classes, with reference to Indonesian national standards (SNI) and forestry regulations.

New partnership until 2030

Minister Nurbaya also explained that the May 2010 letter of intent, which forms the basis of the climate partnership with Norway, is in the process of being reinforced to enable a new stronger partnership with Norway until 2030.

"We welcome Norway's announcement of the first results-based payment to reward Indonesia's success in reducing deforestation and forest degradation in 2016/2017," she said.

"Next, we will move forward to the second level of the RBP for the same achievements for 2017/2018 and the subsequent periods," Minister Nurbaya pointed out.


NORWAY , CLIMATE CHANGE , CARBON PRICING

RELATED STORIES