But Indonesia's climate ambition is nowhere near aligned with global climate goals, and the country is on track to become the world’s fifth largest carbon emitter by 2050.
Tackling a growing dependence on fossil fuels, as well as keeping a lid on emissions from deforestation and peatland fires, will require investment and technology that Indonesia is unlikely to be able to deliver alone. Plans to develop new rules for a cross-border energy grid are in the works, indicating a willingness to foster closer collaboration with its neighbours.
Eco-Business will be at the B20 and G20 summits in Bali to bring you the latest coverage on global developments and how Indonesia positions itself in the global climate fight. We'll be hosting a lunch dialogue — let us know if you'd like to join us.
The latest announcement appears to signal that long-term plans for grid connectivity remain in place, despite a ban instated in June on renewable energy exports. Specific dates and plans for the megaproject remain unclear.
The figure is lower than what the nation spends on subsidising coal, which equates to $10 billion in a single year, and carbon capture technology. All eyes are on Indonesia, as it is set to announce a coal retirement plan at the G20 summit.
Indonesian companies are mainly export-focused. If firms cannot comply with new trade rules, they will not survive, says Muhammad Yusrizki, head of a new unit set up to help firms work towards global climate goals.
[Special Report] Going 100 per cent organic is not easy for smallholder farmers in the region. Is there a middle road to take where a gradual shift can be managed, while ensuring that the livelihoods of farmers are taken care of?
The government of Norway has agreed to pay Indonesia US$56 million as part of an agreement to preserve the Southeast Asian country's tropical rainforests. Indonesia successfully reduced 11.2 million tonnes of carbon dioxide equivalent by curbing deforestation and forest degradation between 2016-2017.
Carbon trading on the blockchain
The Indonesia Stock Exchange (IDX) struck a deal with Singaporean digital exchange startup Metaverse Green Exchange to design IDX’s emission trading scheme. Indonesia's carbon market is slated to launch in 2025, and will be Southeast Asia's second compliance carbon exchange, after Singapore's.
Climate impact hotspots
Indonesian cities closest to the equator are experiencing the most severe climate impacts. Of 24 cities studied by non-profit Climate Central, Makassar in Sulawesi, Banjarmasin, South Kalimantan, Batam in Riau Islands and Tasikmalaya, West Java are suffering the strongest impacts of climate change to their local temperatures.
You received this email because you are a valued member of Asia Pacific’s sustainable business community.