The Indonesia Carbon Trade Association and Gold Standard have established a joint taskforce to support the development of carbon projects in Indonesia.
A joint taskforce has been launched by Gold Standard and the Indonesia Carbon Trade Association to enhance the compatibility between Indonesian carbon market regulations and Gold Standard’s methodologies and requirements.
The taskforce, which was formally established through an MOU signed on Monday 6 May, will support the development of carbon mitigation projects in Indonesia that represent both the highest levels of environmental integrity, and deliver measurable sustainable development benefits.
Margaret Kim, CEO of Gold Standard said:
“Projects using Gold Standard methodologies in Indonesia have already made verified contributions to 11 of the 17 UN Sustainable Development Goals and stopped over 2.8m tonnes of CO2e entering the atmosphere. Through this partnership we can achieve even more, driving finance to where it can have the most impact.”
DR. Riza Suarga, Chairman of the Indonesia Carbon Trade Association said:
“Gold Standard has been playing a significant role in mitigating climate change towards its contribution setting a lead in market demand standard and registry. With this collaboration I am confident that we all can strengthen the relationship and fully support the Indonesian National Registry System, so IDCTA’s members able to trade comfortably complying to National Regulation at the same time meet global market expectation.”
The taskforce will start work immediately and will undertake to assess and enable compatibility between Gold Standard’s methodologies and Indonesia’s national registry system, national and independent registries, and validation, monitoring and verification procedures. Some Gold Standard methodologies, such as those pertaining to renewable energy, are already set to be applied to Indonesian carbon projects.
Through this collaboration, the taskforce aims to ensure that the development of carbon market regulation and infrastructure in Indonesia is well-aligned with national and international markets in a manner that maximises the benefits for local communities and governments, while providing clarity to project developers.
About Indonesia Carbon Trade Association
The Indonesia Carbon Trade Association (IDCTA) (www.idcarbontrade.org), established in 2021, is a non-profit organization determined to position Indonesia as a frontrunner in the global carbon trading market. Even though it is relatively a new organization, its members are veterans in their respective sustainable as well as carbon fields. Recognizing the vast potential of Indonesia's rainforests for carbon sequestration, IDCTA works to mitigate climate change by advocating for greenhouse gas emission reductions. IDCTA's mission is to ensure Indonesia benefits economically from this environmental solution. They achieve this by actively lobbying the government for supportive policies, developing the infrastructure for carbon trading within Indonesia, and offering educational programs to empower businesses for participation. They further support their members with legal guidance, market insights, and valuable networking opportunities. Through these efforts, IDCTA paves the way for a sustainable future for Indonesia, where environmental protection and economic prosperity go hand-in-hand.