Jakarta, 15 November 2022 - KADIN Indonesia as the organizer of the B20 forum collaborated with ICDX to launch B20 Indonesia's legacy program, namely the Carbon Centre of Excellence. The legacy was launched at the B20 Summit Indonesia and reported in the B20 Communique to President Joko Widodo in Bali (14/11). ICDX will lead a practice-sharing centre on carbon trading.
Carbon Centre of Excellence aims to assist the private and public sectors in mapping their efforts with global standards to ensure that business strategies are taken based on climate resilience. Carbon trading plays a key role in helping the world achieve a net zero emissions target by encouraging investment in Green House Gas (GHG) emission mitigation measures and the energy transition. So this program is very important to ensure that industry players have the necessary knowledge to participate effectively in carbon trading.
“We are very proud to be lined up and given the trust in providing the knowledge needed by businesses to enter or increase their carbon trading activities with success stories or case studies from various countries and companies,” said Board Member of ICDX Group, Megain Widjaja.
Furthermore, Megain explained this practice-sharing centre will present a series of sessions to share experiences carried out by companies with a focus on entering the voluntary carbon market (VCM), to the plans and regulations of the governments of the G20 countries in developing domestic carbon markets in each country. This is in line with the Indonesian Chamber of Commerce and Industry's efforts to seek funding for the green transition through VCM cooperation mechanisms with other countries, so that companies that generate carbon credits can obtain funding to expand investment or low-emission business activities from selling these carbon credits on the carbon market global.
Carbon markets or trading can make global mitigation more efficient and organized in supporting government efforts to reduce carbon emissions. The carbon market enables climate change mitigation at a lower cost but with a greater impact. The Carbon Centre of Excellence is expected to help businesses understand and navigate carbon trading by enhancing business knowledge and capabilities. Including mapping the challenges related to the funding needed.
Shinta Widjaja Kamdani, Chair of B20 Indonesia at the B20 Summit Indonesia, said, “B20 Indonesia enables businesses and policymakers to address the energy transition as one of the most pressing issues today. Through the Carbon Centre of Excellence as one of the B20 Legacy Programs, we aim to empower businesses to generate growth potential for carbon trading through the carbon knowledge centre and real practice sharing. Collaboration with all parties involved in the Carbon Centre of Excellence is a way to encourage cross-border collaboration supported by global industry leaders and contributing multinational organizations and to support partners.”
“As the theme of the B20 Summit Indonesia is 'Advancing Innovative, Inclusive and Collaborative Growth', we also open up opportunities for collaboration with various parties and stakeholders for capable and more inclusive innovations in the development of the carbon market in Indonesia” close Megain.
About Indonesia Commodity & Derivatives Exchange (ICDX)
The Indonesia Commodity & Derivatives Exchange (ICDX) is a commodity and derivatives exchange based in Indonesia. ICDX's vision is to become a global market exchange that improves national welfare, with a mission to become a benchmark for setting world commodity prices through Indonesian primary products. ICDX is an exchange supported by its members consisting of brokers and traders regulated by BAPPEBTI. ICDX members facilitate customer transaction services which include ICDX commodity futures trading contracts. Trades on ICDX will be settled, guaranteed, and cleared by the Indonesia Clearing House. For more information, please visit www.icdx.co.id
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