LONDON - Indonesia plans to start a pilot carbon market as soon as next year, part of its effort to meet emission goals the South-east Asian nation committed to under the 2015 Paris Agreement, according to a government official.
"We will give some kind of incentive or reward to companies, or to the private sector, who reduce their emissions," Gardera said from Madrid, where he's attending United Nations-organised global climate talks. A global emissions trading system is the main agenda item as envoys from nearly 200 countries gather in Madrid this month for the climate talks, known as COP25.
Indonesia, the fourth-biggest nation by population and one of the top coal exporters, announced in October that it plans to launch a carbon market under the newly-created Environment Fund Agency, which will be supervised by the finance ministry.