"Saksikan tayangan kami Official Youtube IDX Channel di Program Power Breakfast, Selasa (14/11/2023) dengan Tema Cermati Komitmen RI pada Bursa Karbon".
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00:00 We will look at some data or economic agendas in several regions,
00:06 the first is from Asia, from India.
00:08 There is the Diwali holiday in India, also from the United States.
00:12 There is data on the United States' main inflation fund,
00:15 month-on-month in October.
00:17 And there is data on the United States' federal budget budget.
00:22 And there is also the Governor-Fed Jefferson's bid.
00:25 From the MI10 agenda, the Governor-Federal Reserve Agenda Announcement,
00:29 the Tumai Dividend Fund,
00:31 then Budi, which is the Interim Tumai DPS Dividend Fund.
00:35 The same thing was done by the DVLA,
00:38 and also SOHO, which is the Tumai DPS Dividend Fund.
00:42 And H, or EDGE,
00:45 which is the end of the old nominal trading,
00:47 before the split stock and BMAS,
00:50 the end of HMETD trading.
00:54 And for the surface of the Asian stock market,
00:56 the data can be seen on your television screen.
00:59 The stock market for the main stock market in Asia
01:04 was opened this morning with a green majority.
01:07 For Nikkei, it was opened to strengthen 0.52% at level 32,740.
01:13 Singapore's STI weakened 0.13%,
01:16 while Kospi Korea was opened to strengthen 1.29% at level 2,434.
01:22 Meanwhile, Hong Kong's Hang Seng was opened to strengthen 0.48%.
01:26 The Financial Services Authority has projected that
01:35 Indonesia's carbon stock market still has a great potential for development in the future,
01:39 if it evaluates that Indonesia's carbon stock market
01:41 has shown positive development compared to its neighbors.
01:51 The Executive Head of the Financial Services Authority
01:54 and the Carbon Stock Exchange, the Financial Services Authority,
01:57 Inar Nojyadi said,
01:59 "Indonesian carbon stock still has great potential for growth in the future."
02:04 Optimism for the development of the carbon stock is still high.
02:07 Despite this, the transaction in the stock market,
02:09 which was launched on 26 September 2023,
02:12 is still relatively quiet.
02:15 At the end of last month, OJK recorded a total of 3,180 registrations
02:19 in the National Registration System for the Control of Climate Change, or SRNPPI,
02:25 as well as the high potential of carbon units offered.
02:28 Previously, Inarno also claimed that the development in the carbon stock market
02:31 has shown a positive trend.
02:34 He compared the trend with neighboring countries,
02:37 one of which is Malaysia, which needs a year to achieve active trading.
02:42 Previously, at the inauguration of the carbon stock market at the end of September,
02:45 the potential of the Indonesian carbon stock reached more than Rp3,000 trillion.
02:49 This potential will be a new economic opportunity that is advanced and environmentally friendly,
02:53 and in line with the world's economy that is heading towards a green economy.
02:57 Various sources for IDX Jenu.
03:00 In the process of discussing the Indonesian commitment to the carbon stock market
03:10 and what its potential is, it has been connected through a video conference.
03:13 We have Mbak Rizka Friani, a capital market observer.
03:16 Good morning, Mbak Rizka.
03:18 Good morning, Mas Vicky.
03:20 Thank you for joining us.
03:22 If we talk about the carbon stock market, it becomes a rather interesting discussion.
03:26 But if we look at it from the perspective of Indonesia's commitment to the carbon stock market,
03:31 what is it like so far, Mbak Rizka?
03:34 Yes, talking about Indonesia's commitment,
03:37 we can see the global response to climate change.
03:44 This was actually discussed in 1992 through the Rio Arts Summit.
03:52 Then in 1997, there was the Kyoto Protocol.
03:56 And in 2015, there was the Paris Agreement.
03:59 And this was the beginning of Indonesia's commitment to the Paris Agreement.
04:08 So in 2015, 196 countries signed the Paris Agreement
04:13 to jointly contain global temperature rise below 2 degrees Celsius
04:18 and to continue to 1.5 degrees Celsius.
04:22 And in 2016, Indonesia ratified the Paris Agreement.
04:28 And this is where the first NDC was formed, or Nationally Determined Contribution.
04:35 This NDC is an effort by each country to reduce emissions and adjust to the impact of climate change.
04:44 If we look at it, Indonesia has also made several updates to the NDC,
04:51 where the last NDC was in 2022, the target was 31.89%, nationally,
05:01 and 43.2% with international aid.
05:06 This NDC was targeted until 2030.
05:11 So how is Indonesia able to reduce emissions by 31.89% without international aid
05:19 and with international aid at 43.2%?
05:23 Then we talked about Indonesia's steps that have been taken.
05:32 Of course, Indonesia is relatively fast.
05:36 First, we issued the LHK Permit No. 21 in 2022,
05:41 then also the PEPRES No. 129 in 2022,
05:45 and in 2023, the carbon exchange was formed.
05:50 The formation of the Indonesian carbon exchange can also be said to be relatively fast compared to other countries
05:57 because only in 8 months, Indonesia was able to form a carbon exchange.
06:03 Here we also refer to the Law No. 4 of 2023,
06:07 then the P2SK Law, and also from POJK No. 14 and SAOJK 12 in 2023.
06:19 I see that Indonesia's commitment to this carbon exchange is so real.
06:26 Because if we look at the trade at the beginning, on September 26, 2023,
06:36 there were two emitters that traded, namely Pertamina Geothermal Lahendong and PLN in PLTG.
06:50 Okay. If we look at it from the excitement market itself,
06:55 if we compare it to other exchanges, of course it's still quite far.
06:59 What needs to be accelerated so that the excitement
07:03 or maybe the spirit to be able to participate in a platform
07:07 that has been strongly shown by the government through the formation of the carbon exchange,
07:12 can be carried out to the maximum, Mbak Rizka?
07:15 Yes, for this to be carried out to the maximum,
07:20 of course we also need support from various parties to socialize the carbon exchange.
07:27 Because if we look at the carbon exchange fund trading yesterday,
07:33 there were only 15 buyers in the fund trading in Indonesia Carbon Exchange.
07:41 So this is still dominated by banks.
07:43 But in the future, I see that with extraordinary carbon exchange potential,
07:48 it is able to grow the feeling that we can contribute carbon units to the carbon exchange.
08:00 Because if we look at the sectors involved,
08:03 there are five main sectors, the target of reducing emissions,
08:07 there is forestry, energy, agriculture, industry or IPPU, and waste management.
08:15 And we as a country and we also have a fairly large and significant forest.
08:25 Because forestry is an important contributor in donating carbon units from the team.
08:31 Because it has great potential to pay carbon credit.
08:35 We can also take advantage of this.
08:37 Because in 2022, the KLHK recorded land with forests across Indonesia
08:45 reaching 96 million hectares or 51.2% of the total land.
08:51 This is something that SELN is very capable of accelerating the carbon exchange.
09:01 You mentioned that there are several sectors that have an important contribution
09:07 in contributing or contributing to carbon credit.
09:12 And some of them are sectors that are not plantation.
09:16 It means that if you move in the field outside the plantation,
09:20 it also has a role that can be explored more.
09:25 Then what are the benefits for the market itself related to the existence of the carbon exchange?
09:33 So this carbon exchange provides direct and indirect benefits to the market.
09:42 In a direct way, the existence of carbon helps reduce CO2 emissions or greenhouse gases,
09:50 so that it can create a national economic resilience and mitigate the risk of
09:56 large costs for the market players in solving the climate problem.
10:03 And in a direct way, companies that are able to reduce emissions
10:07 can sell their carbon credit to companies that exceed the emission limit
10:13 so that an incentive and disincentive scheme is formed.
10:17 This is what we can benefit from.
10:20 We hope that in the future, the more transactions in the carbon exchange in Indonesia,
10:27 the more benefits we can feel directly or indirectly.
10:32 We will continue the discussion in the next section.
10:36 And we will be back soon.
10:39 Thank you for joining us.
10:41 I am still talking with Baris Gavriani, the Capital Market Advisor.
10:44 Before we discuss all the aspects this morning, you mentioned
10:48 there is a direct impact from the existence of the carbon exchange or its benefits.
10:53 What are the direct benefits that can be felt by the market players?
10:59 Direct benefits, we can actually take advantage of the opportunity in this carbon exchange
11:06 because there is approximately 1 gigaton of carbon credit potential
11:10 and if calculated, this is more than 3 trillion.
11:13 This is a new economic opportunity that is sustainable and environmentally friendly.
11:18 So for companies that are able to reduce emissions,
11:21 they can sell their carbon credit to the carbon exchange.
11:25 And there are two types of carbon trading.
11:28 The first is cap and trade or emission trading system, ETS,
11:34 the establishment of carbon limits by the government
11:36 and we can also offset GHG or reduction of greenhouse gas emissions.
11:42 This is done through efforts or activities to compensate for the emissions produced elsewhere.
11:50 For example, there are electric producers who use coal-fired materials.
11:56 This is also now being required to reduce emissions by 25% from their initial emissions.
12:04 They can do two options, cap and trade, or they can buy carbon credit from the carbon exchange
12:14 to reduce its emissions, or they can offset GHG by changing their operational
12:21 to reduce greenhouse gas emissions.
12:24 Then if we look at it, we currently get support from the global through ISG funds is quite large.
12:33 From the implementation of the PRI or Principle Responsible Investment,
12:37 it has increased from 2006, which is only 63, now in 2023, it has reached 5,381.
12:47 And from the ISG fund itself, this also plays a very important role in the market
12:54 where it contributes to the increase in the number of people in developing countries.
13:00 Because the global ISG assets are likely to exceed $50 trillion in 2025.
13:09 And this is more than 3 times the projection of $140.5 trillion that was managed.
13:17 So for market players, if they want to take advantage of the carbon business,
13:24 this carbon exchange is very open because it gets support from both national and global.
13:30 Okay, in terms of ecosystem, we should all be able to maximize the benefits of this carbon exchange.
13:38 [Music]
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