Indonesia to resume international carbon trade after four-year suspension

Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus, according to a copy of the decree seen by Reuters on Oct 15.

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The Southeast Asian country issued carbon market rules in 2021 that focused on compliance carbon markets rather than transactions in voluntary markets.

The rules effectively put an end to all cross-border carbon emissions-credit trading, including those generated from big projects such as the Katingan Mentaya conservation project.

Indonesia said the moratorium allowed the country to prioritise meeting its own greenhouse gas reduction targets rather than selling the reductions overseas.

The halt also came amid concerns that carbon prices were too low and that selling countries were not benefiting from the market.