Pertamina Collaborates with IDX for Carbon Trading

October 19, 2022 - To support the decarbonization program and Indonesia's 2060 Net Zero Emission (NZE) target, Pertamina cooperates with a fellow SOE, the Indonesia Stock Exchange (IDX), in carbon trading.

As a state-owned energy sector, Pertamina believes that IDX, a company engaged in the Stock Exchange implementation in Indonesia, can jointly develop the Carbon Business Build initiative.

Pertamina and IDX will review potential business cooperation. Thus, they can increase their knowledge while optimizing their respective duties and functions for the voluntary carbon market and carbon market compliance implementation.

The potential for carbon trading cooperation includes using IDX's carbon trading infrastructure to conduct carbon trading transactions through the carbon exchange in Indonesia. It also includes developing a national carbon trading ecosystem, conducting internal and/or external carbon trading pilots, and exchanging information about the growth of domestic and/or international carbon trading businesses.

"This is the next stage of our exploratory steps for the carbon business to accelerate the national and international carbon trading ecosystem development," said Atep Salyadi Dariah Saputra, Director of Strategy, Portfolio and Business Development of PT Pertamina (Persero) during the signing of the Memorandum of Understanding between Pertamina and IDX in Nusa Dua, Bali at the SOE International Conference & EXPO (18/10).

The signing of the Memorandum of Understanding between Pertamina and IDX was carried out by Atep Salyadi Dariah Saputra, Director of Strategy, Portfolio, and Business Development of PT Pertamina (Persero) and Iman Rachman as President Director of the Indonesia Stock Exchange.

Pertamina Group is also carring out efforts to achieve emission reduction targets through carbon trading with the VCM Piloting Initiative by Subholding Power & NRE (PPI) and Subholding Upstream (PHE).**