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"Saksikan tayangan kami Official Youtube IDX Channel di Program Special Event, Kamis (11/07/2024) dengan Tema Menjadikan Bisnis Lebih Berkelanjutan Melalui Bursa Karbon".

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00:00This is a real contribution of Indonesia to fight together with the world to fight the climate crisis,
00:28where the results of this trade will be reinvested again in an effort to protect the environment especially by reducing carbon emissions.
00:46I am very optimistic that Indonesia can become the world's carbon porous,
00:54as long as the concrete steps are consistently carried out by all stakeholders,
01:01including the government, the private sector, the community, and other stakeholders.
01:14In the middle of the transition era, the carbon stock exchange is a hot topic.
01:20Not only as a complement to the implementation of environmental, social, and governance,
01:25the carbon stock exchange is also a need for corporations that want to invest in technology and more efficient and environmentally friendly business processes.
01:37The existence of the Indonesian carbon stock exchange is recognized as a real contribution in accordance with the ratification of the Paris Agreement,
01:45especially from business actors in Indonesia.
01:50The government believes that the future potential of the carbon stock exchange is still very large.
01:54The potential of the Indonesian carbon stock exchange can even reach Rp 3 trillion.
02:01Since it was officially launched in September last year, the Monetary Service Authority recorded the volume of trade in the carbon stock exchange until May 2024
02:11as much as 608,427 tons of carbon dioxide.
02:17The value of the carbon transaction traded reached Rp 36.77 billion.
02:25Although it has a large potential, the government admits that the development of the Indonesian carbon stock exchange is still facing challenges.
02:32It needs the support of the Ministry of Industry and Ministry of Commerce to promote the carbon trading transaction by increasing supply and demand.
02:42So, what is the prospect of the carbon stock exchange in the future?
02:47We will see in the IDX Channel Special Program, making business more sustainable through the carbon stock exchange.
02:59Okay, the most important question for our topic this time is to make business more sustainable through the carbon stock exchange.
03:05The government believes that the future potential of the Indonesian carbon stock exchange is still very large.
03:11However, there are some challenges that are faced by stakeholders.
03:17Speaking of stakeholders, of course, we cannot ignore the policy makers in it.
03:25Of course, I will ask this question to the OJK first.
03:31Because when it comes to various initiatives to suppress carbon emissions,
03:35we also cannot ignore an effort that has become a big umbrella in efforts to reduce carbon emissions, namely ESG.
03:45Speaking of ESG, from the point of view of Mr. Lufaldi's Monetary Service Authority,
03:49what do you think of the agreement between the companies listed in the Indonesian capital market so far?
03:56Okay, thank you. Good afternoon, ladies and gentlemen, Mr. Jeffrey, Mr. Van.
04:03Thank you for inviting me.
04:05What is quite interesting, indeed, before we go to the carbon stock exchange, this is more general to ESG.
04:12Speaking of ESG, as an institution, the OJK has made a lot of related regulations.
04:20However, in ESG, we do not necessarily have to oblige everyone.
04:27So not necessarily all parties under the OJK must do ESG mandatorily.
04:34That's a little different approach to the carbon stock exchange.
04:38When it comes to voluntary and ESG, according to our notes, there are quite a lot of rules that are related.
04:50For example, regarding the continued financial roadmap, stage 1 in 2015 to 2019, then stage 2 in 2020 to 2025.
05:02Then, related to the regulations, our notes are also, for example, in POJK 51 in 2017,
05:12about the continued financial implementation for financial services institutions.
05:17We have also given a guideline, what is the importance of ESG for financial services institutions in Indonesia.
05:24Then, there is also POJK 60 in 2017, about the implementation of environmental monitoring debt liability, or Green Bond.
05:35So we have seen it too, and we have also released related regulations.
05:40And the latest one is POJK 14, ladies and gentlemen, about the carbon stock exchange.
05:47So there are indeed series of regulations related to financial services institutions in Indonesia.
05:53Because we can no longer wait, and the climate change issue in the world is no longer an issue.
06:04It has become something that we all have to understand.
06:10From the POJK, we see that this is an opportunity for Indonesia to go to gold.
06:18What is the relevance to the actors? How far do we see?
06:26If we look at it, this is a concrete example, from all the regulations we have seen,
06:32there are actually a lot of our emissions, including non-financial, in the capital market,
06:40that are very, very concerned about ESG.
06:43The most interesting thing is, if we talk about ESG, there is an environment of social governance.
06:49There is I, there is S, there is G.
06:52But what's interesting is that each sector has its own issues.
06:57For example, there are some, maybe in forestry, which is more relevant to the I issue,
07:05so there are more environmental issues. There is also the G or social.
07:09But in terms of compliance, I think there is no such thing in Indonesia.
07:13We hear the issue of companies that do not comply.
07:19Because in the ESG scheme that we are building, it needs a phase.
07:27Not all industries understand and 100% implement.
07:32That's about it.
07:34The urgency is there, the regulations are ready to adjust it,
07:40and the demand in the market is also sometimes for lenders,
07:43or maybe from the consumer side, from various companies in Indonesia,
07:49require the achievement of ESG indicators.
07:52So this is an important effort.
07:55Sometimes there is a term that if the achievement is not good,
07:59then it is left by the consumer or the market.
08:02Because the trend is there.
08:04Still from the point of view of my regulator to Mr. Jeffrey ESG,
08:07of course it continues to develop.
08:09How is it from the point of view of the regulation,
08:12how is the development?
08:14Considering that the law is quite diverse.
08:17Just now from the OJK has also been delivered.
08:19From the point of view of the Indonesian company itself, what is it like?
08:22Well, maybe I complete what has been delivered by Mr. Aldi.
08:26The regulation of the regulator related to the ESG sector
08:34is already very supportive of better implementation of ESG,
08:40both from the demand side and from the supply side.
08:43Well, if it was mentioned earlier about PUJK 51 in 2017,
08:49where PUJK, listed and issued companies,
08:52were obliged to deliver a continuation report
08:55and plan for continued financial action.
08:58According to our notes in the stock market,
09:01until June 2024,
09:05for the year of the book 2023,
09:08843 have reported.
09:12It means that it is equal to 93%
09:16of all the emittance in the Indonesian stock market,
09:19where for the year of the book 2023,
09:23companies with assets below IDR 50 billion are not obliged to report.
09:28It means that the level of compliance is already very good.
09:33We also see from the supply side,
09:37there is PUJK 18 in 2023,
09:41which regulates the issuance of not only green bonds,
09:46if all this time we only know about green bonds,
09:49but it has also been regulated related to the Green Sukuk,
09:53Sukuk Wakaf,
09:55then Sukuk or EBUS related to social
10:01and also continuation.
10:03So, there are a lot of varieties from the supply side
10:08that can be an alternative.
10:10On the demand side,
10:11we also know that the interest in products or investment instruments
10:19related to ESG is also increasing.
10:22If we compare the last 5-6 years,
10:26where in 2018 there was only one emission with a value of around IDR 240 billion,
10:34now there are around 14 emissions with a value of more than IDR 25 trillion.
10:39Not to mention the regulations issued by the Bank of Indonesia,
10:46for example, which regulates the parties to credit
10:53to parties related to social.
10:56So, I think from the regulatory side,
11:02it has been very supportive.
11:04Then from the level of compliance,
11:06the report has also been very good.
11:17A follow-up question, Mr. Jervie.
11:20What you said earlier,
11:22the compliance is already more than 90 percent,
11:2593 percent.
11:27Although, as Mr. Jervie said,
11:31it is not yet mandatory,
11:32but is there any effort to strengthen,
11:37or increase the compliance from the point of view of the emitter
11:41or maybe from the company,
11:43okay, I have to follow this because there is a regulation strengthening in this ESG.
11:49Yes, of course.
11:51Capacity building for emitters and registered companies
11:57we continue to do.
11:58Yes, so that the report is not only sufficient in terms of quantity,
12:06but the quality also continues to improve.
12:10Then also how it can be evaluated by the third party.
12:17Yes, so there is an independent party,
12:22a global rating agency
12:25that evaluates the reports that have been done.
12:33Yes, as has been done by the ESG rating agency
12:39against 80 emitters registered in the IDX-80 constituent.
12:49Yes, if we also look at the average value,
12:52that is, if 4 years ago it was still around 33,
12:58it means it is still high risk,
13:00now it is already 29.
13:02It means it is already medium,
13:04it means there has been a significant improvement
13:07in the last 3-4 years.
13:10This then becomes proof of the balance between the company's operations
13:15and also various points that pay attention to social,
13:19environment and management.
13:22Yes, it is inspiring, of course,
13:24that is why we present the NRE report here.
13:30Because talking about the implementation of ESG in the Pertamina Group itself,
13:33this has been recognized globally.
13:35Congratulations, give a big round of applause for the achievement of ESG.
13:38And proven with the lowest ESG risk rating among other business actors,
13:45how does the effort of Pertamina to remain consistent,
13:48Mr. Fadli, to implement ESG in companies and also groups or sub-holdings?
13:55Yes, so indeed, if we can say, we are an oil and gas company to start with.
14:02Indeed, now we are moving towards an energy company.
14:05By nature, we emit a lot of emissions,
14:10carbon, CO2 and so on.
14:14There are several steps that we have taken in the last decade.
14:20Therefore, if we can say, the last 5 years have been very aggressive,
14:25so that the achievement of ESG ranking is the highest,
14:32the lowest value means the lowest risk.
14:36This is the number one in the world in terms of integrated oil and gas category.
14:44So, compared to other oil and gas companies,
14:47we can be proud because we are number one.
14:50Indeed, aspect E is important.
14:53As Mr. Aldi said earlier, the environment,
14:57we reduce emissions by 34% compared to 2010, the baseline of 2010.
15:04But by nature, maybe because we are BUMN,
15:09the social aspect as an agent of development must be good.
15:13The aspect of governance must also be good.
15:17So, these two aspects have actually been checked.
15:22We just need to take advantage of how we can be as aggressive as possible in the environment aspect.
15:27There are many programs that are done in a group.
15:30For example, Pertamina has one holding, but 250 companies
15:36that ensure the energy sustainability from the west to the east.
15:42This is indeed difficult.
15:45To ensure that all the companies are moving in the same direction.
15:49So, the current management really ensures that all ESG programs
15:55related to decarbonization, reducing emissions, increasing green energy, and so on,
16:04including the social and governance aspects that have been improved,
16:07up to the level of support, even to the employees,
16:11must be taken care of so that it can go up.
16:14So, those programs are now being pushed.
16:16So, the implementation is done in a comprehensive and serious way
16:20to achieve those achievements.
16:22Okay, I will go to Mr. Jeffry again.
16:25Related to financial issues, this is also a concern of lenders.
16:31From the perspective of Bursa Efek Indonesia,
16:33how does Mr. Jeffry direct companies to adopt those policies?
16:39I think right now, it's not just lenders who are driving it.
16:45But in this investment world, it has been driven by customers and investors.
16:52So, indeed, lenders always pay attention to ESG in providing credit facilities.
17:01But customers, especially for export-oriented products,
17:10now customers outside are also demanding
17:14if this product in the production process pays attention to ESG factors.
17:22Not to mention investors.
17:26On a global level, there are currently trillions of dollars
17:32that are only invested in investment instruments that pay attention to ESG factors.
17:41So, I think lenders, customers, and investors
17:47are the three driving forces
17:52or giving enough pressure to entrepreneurs
17:59to pay attention to ESG factors.
18:05I think that's it.
18:07What are the most challenging ESG implementation factors in Pertamina?
18:17Maybe I should start from the A aspect.
18:20Because S and G have been established for a long time.
18:25It's just a matter of improvement.
18:28But from the A side, the most challenging is the cost and competitiveness.
18:34So, unfortunately, what we see now is that people want greener,
18:40people want cleaner, but it has to be cheaper.
18:44Sometimes it's not logical, but it's true.
18:49Because all entities are profit-maximizing entities.
18:53So, if there's no mandatory, if there's no stick,
18:58the carrot has to be cheaper.
19:01If people want to move there,
19:04we as energy-saving providers, carbon credit providers,
19:08things like that might be the main challenge.
19:13Because there's no mandatory aspect.
19:16So, that's the main and most important thing,
19:22to ensure that we still have to implement
19:28things like environment and sustainability
19:33as long as it has to be cheaper. That's the main challenge.
19:35Okay, because to operate a company,
19:41by prioritizing the principles of sustainability,
19:44it requires costs sometimes.
19:47But in terms of output, the price is expected to be affordable.
19:52That's the challenge.
19:54Exactly.
19:56Maybe the balance is how we can convince our customers,
20:01especially since we have a lot of customers.
20:03If they can reduce emissions,
20:07they can get a more friendly financing.
20:12Cheaper, more competitive.
20:15That's how we can work with these financiers
20:19to ensure that because there's no stick,
20:22the carrot has to be increased.
20:24As a company that specializes in the extractive sector,
20:35how does Pertamina ensure that the operational
20:39can reduce carbon emissions?
20:42What's the strategy?
20:44Maybe we can say it's an advantage,
20:48but it's also a disadvantage.
20:51We've been in the oil and gas industry for a long time.
20:54Old tools are usually inefficient.
20:59So, in many locations,
21:04since it's rock bottom, the only way is up.
21:07Because there are a lot of old tools or practices,
21:13but we have to fix it, revamp it, improve it.
21:18So, actually, there are a lot of activities,
21:24for example, we throw a lot of gas,
21:27flare, burn the gas,
21:30we can reduce it, reduce emissions.
21:34Or, reduce, replace the old tools,
21:39which usually consume a lot of gas,
21:42in the end, the gas is consumed by the same output,
21:45it's more efficient, because it's newer,
21:48the technology is newer and easier.
21:51So, things like that we apply, decarbonization,
21:56those are our decarbonization programs.
21:59But the second one is our green energy application program.
22:03Like what you've seen, geothermal,
22:06that's what we constantly promote,
22:09so that it can be implemented continuously,
22:12so that the carbon credit comes out.
22:15And solar, which we also implement.
22:19These two have to run side by side,
22:22so that in the future, the implementation of this ESG can still be improved.
22:28Okay, what do you feel, the impact, of course,
22:31if you look at it from a lender, investor, and also consumer,
22:34from all kinds of practices applied by Pertamina,
22:37so far, what impact do you feel?
22:41Well, if we look at it,
22:44number one, from our side,
22:47compared to three years ago, compared to now,
22:52the use of green energy is more.
22:56That's for sure, slowly but surely,
22:59even though, as I said, there is a competitive aspect
23:03that we have to take care of, the cost aspect,
23:05that we have to make sure it goes down.
23:07So, our profit can't be that big.
23:10That's the side impact.
23:14But we can see a significant change in the use of that energy.
23:20Then, number two, we also see a lot of
23:24the use of land financing that is more friendly,
23:30including in our projects as well.
23:32Finally, a lot of financiers came,
23:33not only from Indonesia, but also from other countries,
23:37Japan, Korea, and so on,
23:39who provide a more competitive financing.
23:43Maybe those two are the main ones.
23:46Okay, that's what I feel from Pertamina.
23:50I would like to welcome Mr. Mohamad Oki Zuhaymi,
23:53Occupational Safety, Health, and Environment Division Head of Garuda Indonesia.
23:57Thank you for the opportunity, Mr. Oki.
24:00Okay, Mr. Oki, as a stakeholder
24:03in the carbon exchange in Indonesia,
24:05there are two questions that I would like to ask you
24:08as a representative of Garuda Indonesia.
24:10The first one, of course, you can say it.
24:12The roadmap of Garuda Indonesia itself,
24:15in an effort to support the target of net zero emission in 2060,
24:18that's the first one.
24:20Then, what I also want to ask is,
24:22how far the existence of the carbon exchange itself
24:25also supports the target of net zero emission
24:28that is proposed by GIA itself?
24:30Mr. Oki.
24:31Mr. Oki, please.
24:34So,
24:37I can tell you about the roadmap.
24:41In terms of the airline industry itself,
24:45we do have two references
24:50that we will make a reference.
24:53The first one, as we all know,
24:57is the Paris Agreement.
24:58From the Paris Agreement itself,
25:00there is a descendant on the national side,
25:03there is Enhance NDC,
25:05where Enhance NDC will be a reference
25:09because we know the air transportation,
25:13from the socialization that we also follow,
25:15we are included in the sub-sector under energy,
25:18that will be a reference.
25:20However, the nature is for domestic flight.
25:25Meanwhile, for international aviation,
25:28for the airline itself,
25:30and this may also have the same nature as in the maritime world,
25:35we have UN agencies at the UN level,
25:38there is an international civil aviation organization called ICAO,
25:42which regulations related to net zero emission,
25:47or we may know it in the aviation world,
25:49the so-called Fly Net Zero,
25:51which is targeted, can be achieved in 2050,
25:53it will be our reference to determine
25:58the guidelines for international aviation.
26:04So maybe that's where we say first,
26:06that there are two references,
26:08and from Garuda itself,
26:10we are still preparing the program internally,
26:17because on the international aviation side,
26:20the target of aviation itself has been decided,
26:23or has been delivered in the last COP28 forum,
26:27where it was delivered by the Director General of ICAO itself,
26:31that the emission target that will be reduced,
26:35it is mentioned from the use of alternative aviation fuel,
26:40has not yet entered the target of carbon offset itself.
26:46So it has been delivered 5% in 2030,
26:50which we will also adopt later,
26:53as an achievement that must be done by Garuda,
26:56we will comply there,
26:58but for the domestic itself,
27:00we are still waiting too,
27:02because a few months ago,
27:04we also had a coordination with the Ministry of Transportation,
27:07and also in the forum there is from the Ministry of Energy,
27:10and also from LHK,
27:12there, related to the implementation,
27:17or reduction of the NDC Enhancement Regulation in the air transportation subsector,
27:22it has not been decided yet,
27:24and we are still following the update,
27:26what it will be like,
27:28which will be our reference to do.
27:32However, from Garuda Indonesia itself,
27:34we also do actions,
27:38even though the target is still following the update,
27:41but we also do actions,
27:43with a taxonomy that we also adjust,
27:46the two references earlier,
27:48for the NDC enhancement,
27:50from the forestry side,
27:52we also do some actions,
27:54and even we have been together with several partners,
27:57who can do efforts,
28:00calculation of greenhouse gas,
28:03which was successfully reduced from the volume sector,
28:05then from the IPBU side,
28:09there is also from the product use side,
28:11there we also have some that we try,
28:15then from the waste management side,
28:18we have also started to do,
28:20indeed at the moment the stage is still on the office side,
28:23which maybe later we will try to expand the scope again,
28:27up to the air side,
28:29or on the airport side,
28:30which here we have been able to communicate with the airport authority,
28:36later we will expand it there,
28:39then from the energy side,
28:42from the energy side, Garuda is directly involved,
28:45in 2023,
28:47it was the commercial base flight in Indonesia,
28:50flight using SAF,
28:53which was produced from Pertamina last year,
28:57and also,
28:59if in the near future,
29:02there are several regulations that will affect the flight of Garuda Indonesia,
29:08one of them is the closest,
29:10in 2025,
29:12related to the EU refueling regulations,
29:15where European Union countries,
29:18later, if we fly outbound from Europe,
29:22then we will have to use SAF,
29:26in the percentage that they have determined, like that.
29:29Thank you.
29:31The second question, is it related to carbon business,
29:33which supports net zero emission targets from Garuda Indonesia,
29:36which has been proposed?
29:39This carbon business is very crucial for Garuda Indonesia,
29:44because,
29:46maybe if I had said earlier,
29:48that we have two references,
29:49there is a reference from ICAO,
29:52in terms of aviation,
29:54the aviation industry specifically,
29:56it was also stated there,
29:58that to be able to fly net zero in 2050,
30:01that the efforts that have been made,
30:04from the operation side,
30:06from the technology side,
30:08or from the infrastructure side,
30:10it still has not been able to meet the net zero emission itself,
30:15and the most significant impact,
30:17for the reduction of greenhouse gas emissions,
30:20is the use of SAF,
30:22or Sustainable Aviation Fuel,
30:24or maybe in Indonesia we know it as BIOAVTUR.
30:27However,
30:29because the availability of SAF or BIOAVTUR itself,
30:34is still not enough for the aviation industry,
30:39then there must be other options,
30:41and other options that have also been discussed,
30:42and even the scheme has been made,
30:45in the aviation industry,
30:48from ICAO itself,
30:50is with carbon offsetting,
30:52and with its existence.
30:55The carbon exchange here is very important,
30:57because in the early stages of implementation,
31:00until later maybe SAF is available,
31:03and can meet the needs of the aviation industry,
31:06carbon exchange or carbon credit,
31:10it becomes a very important option.
31:12The point is that the regulator provides this,
31:15but from the point of view of the company,
31:17or maybe the company itself also needs this,
31:19so this is a kind of welcome.
31:30Related to the carbon exchange,
31:33or maybe the activity of carbon trading,
31:37where from the NRA's own portfolio,
31:40the NRA uses its own green assets.
31:44Yes, so if we look at the introduction of the carbon exchange,
31:50when it was launched,
31:52it was the only credit that was supplied from us.
31:56Thank you for the opportunity, Mr. Jeffrey Pauldi.
32:02At this time, at that time we only had from geothermal,
32:06from geothermal we can provide around 1 million per year,
32:131 million credit per year.
32:16Earlier, Mrs. Justine said that
32:19until now only 600,000 have been sold,
32:24608,000 per year.
32:26From us, our contribution yesterday,
32:29so far there are 570,
32:31so 93-95% is from geothermal, which is very good.
32:37That's number one.
32:39So from some of our geothermal plants,
32:42we can maximize the potential.
32:45Second, there is another one, of course,
32:48gas, biogas.
32:50So biogas is also very interesting,
32:54because it replaces electricity from coal,
32:59into the waste of palm oil.
33:03Instead of waste, we turn it into electricity.
33:06Which means, the aspect of methane is also maintained,
33:13or affected.
33:15There will be supply from there too.
33:18Of course, from the rise of our gas power, we can empower.
33:22So there are approximately 3.5 to 4.5 million tons per year
33:26that we can empower in 2025.
33:31In 2030, there may be some of our cooperation with farmers,
33:34which we can encourage.
33:37That may be a total of additional 5 million,
33:40so about 10 million at least.
33:42Of course, it depends on the regulations that will be there.
33:46This is very dependent on how the government in the future
33:53will be more aggressive in promoting
33:56the monetization of carbon, especially from the forestry side.
33:59What's interesting is,
34:01the NRA was the first carbon credit supplier
34:04that was launched in 2023,
34:07and to this day, there are already 561,000
34:11TCO2A of carbon credits in Indonesia.
34:15Please give a round of applause for the effort
34:18and the proactiveness of the NRA.
34:21I will continue the discussion,
34:23but this time I will turn to Mr. Aldi
34:27from the Financial Services Authority.
34:29I have some interesting data.
34:31Mr. Aldi, until June 5, 2024,
34:34the carbon trading in the Indonesian carbon exchange
34:37recorded 650,000 tons of CO2
34:41with a transaction of Rp36.78 billion.
34:45Later, if there is an update, please update it, Mr. Aldi.
34:48With that amount, is it ideal enough, according to the NRA?
34:52If not, what needs to be pushed
34:54so that the value or maybe in terms of the amount
34:59will continue to increase?
35:01Okay, thank you.
35:03The data so far is up to date.
35:05What has been said is the most up-to-date.
35:08Compared to our expectations,
35:13our expectations are far above this.
35:17So indeed, we can say
35:21as we said at the beginning,
35:23overall, we do see that the development is still very slow.
35:28Very slow.
35:29Not even slow, but very slow.
35:32Because the story before we launched
35:36is actually a lot.
35:38Even if you notice,
35:42two suppliers from Pertamina and PLM
35:46are both from the energy sector.
35:48Whereas the initial design,
35:52we actually want to push from other sectors.
35:55Especially from the forestry sector.
35:57We actually discussed before the launch event
36:01to try to map out the potential.
36:05But because at that time,
36:09there was a time limit,
36:11we were only given a little time.
36:13Finally, we tried to speed up the process here.
36:16Mr. Aldi, I remember the discussion with Mrs. Ires.
36:19Monthly calculations, if I'm not mistaken.
36:22Monthly calculations with the Ministry of Environment.
36:24The process was accelerated.
36:25Then the administration letter,
36:28the legal binding issue was tackled.
36:30So finally we can launch.
36:32But overall, I can say,
36:34it's far from the potential of 3000T.
36:41This is 30 something billion.
36:44So it's still far.
36:47If the question is, what can we do?
36:49We have done a lot of things
36:51from the secondary side.
36:52But the primary,
36:56we actually see the progress.
37:00There are some issues that have progressed.
37:04Maybe it can't be shared today.
37:06But if we look at, for example,
37:09the issues in the media about carbon.
37:14That has also become one of the topics
37:16in the press debate.
37:18And it has become one of the topics
37:23in the public discussion.
37:28And if we can share,
37:31because this has become a concern,
37:36the future should be better.
37:40Especially the regulation in the primary market,
37:45which I mentioned earlier.
37:46Because it turns out it's not easy
37:49to coordinate all the devices.
37:56And besides not easy,
37:58don't forget the width of Indonesia
38:01with a very varied sector,
38:05it's not easy.
38:07Even what I said earlier,
38:09five sectors here,
38:12there is an issue that will be added
38:13to another sector,
38:15from the Ministry of Marine Affairs.
38:17And later on,
38:19just imagine if all the sectors are included,
38:22the possibility can be 6, 7, 8, 9, 10
38:27ministerial regulations.
38:29Not to mention the carbon map.
38:32So it's very scattered, in my opinion.
38:35We need to coordinate in a ministry
38:38that can ensure
38:40that the ego sector is minimal.
38:45That's number one.
38:47Number two, the coordination,
38:49we ask for a seamless one.
38:52A centralized one.
38:56Then the third,
38:58about what I said earlier, technology.
39:00Especially now we all hear about data.
39:04And we hope,
39:06in the future,
39:08the technology in the primary market
39:10must be ensured.
39:12So, there are three things.
39:16And what Mr. Jeffrey also reminded us all,
39:19in the speech of Mr. President at the launch event,
39:23I really remember one of the points,
39:25it's really a point out about technology.
39:27It's actually been pointed out.
39:29That's why we, so far,
39:31prevent those things
39:33with one of them using a blockchain-based system
39:35in the business.
39:37Later on,
39:38we hope in the primary market,
39:41in the carbon registration,
39:43using blockchain as well.
39:45Because we don't want issues
39:48like transparency
39:53in the primary market to become an issue.
39:56Something like that.
39:58Maybe the logic is like this,
40:01in the car business,
40:03the showroom is really cool.
40:05Something like that.
40:06The customer service is complete.
40:08The building is sophisticated.
40:10The room is glass, full AC.
40:12We just have to wait.
40:14What do you think the government wants to fill it with?
40:16It can be filled with BMO as well.
40:19It can be filled with branded cars as well.
40:23But if we look at
40:25what the carbon business team has been doing,
40:28it's quite maximal.
40:30Even in the near future,
40:31we can adopt
40:34the best practices standards
40:37of international carbon trading.
40:40Which we have the same, equal.
40:43Even though,
40:45aside from that,
40:47I'm sure it's still in development,
40:50so it keeps moving.
40:52Hopefully, later on,
40:54the development in the primary market will follow.
41:02Okay. Mr. Aldi talked a bit about
41:05the coordination between institutions
41:08to increase the value and number of transactions in the carbon market.
41:12Maybe, like today, Mr. Jeffrey,
41:14there's something you want to say,
41:16the coordination between institutions,
41:18and maybe a specific question to Mr. Jeffrey,
41:21is how to,
41:23in general,
41:26as you said,
41:28from the regulators themselves,
41:29to the companies that are registered or not
41:32to make transactions in the carbon business.
41:35Now, let's go to the registered companies.
41:37Mr. Jeffrey, what efforts have been made
41:40by the Indonesia Effect Business
41:42so that many registered companies
41:45can make transactions in the carbon business?
41:49Well, in our opinion,
41:51the most important thing is understanding.
41:55We are fully aware
41:57that this is something very new.
42:01Because of that,
42:04in the near future,
42:06besides the socialization that we have done before,
42:10in the near future,
42:12we will invite registered companies and emittents
42:17to join the so-called Net Zero Incubator.
42:22In the Net Zero Incubator,
42:24we will have classes,
42:28so that the emittents will understand more.
42:33Until the end,
42:36how to calculate my emissions,
42:39what is my scope 1, what is my scope 2,
42:42later in the Net Zero Incubator,
42:45we will provide everything.
42:48After the understanding is there,
42:51we are sure that the registered companies
42:54and the emittents
42:56will be easier to organize strategies,
43:00to organize a roadmap
43:02on how the existence of the carbon exchange
43:05will be able to support
43:07the long-term strategy of these companies.
43:10With that,
43:12we are sure that later,
43:15our stakeholders,
43:18especially the nearest ones,
43:20the registered companies,
43:21will be the main players
43:25in this carbon exchange trade.
43:29With regard to how we handle
43:35our carbon trade activities so far,
43:39I try to see it more positively.
43:45If we compare it to the neighboring carbon exchange countries,
43:49Malaysia, for example,
43:51which was launched 9 months earlier than us,
43:54and Japan, which was launched about a month after us,
43:59up to now,
44:01the volume of transactions in the Indonesian carbon exchange
44:05is almost three times larger
44:08than what happened in the Malaysian carbon exchange.
44:11Of course, in that context,
44:13we are not discouraged.
44:15But, as Mr. Aldi said earlier,
44:19if we compare it to our real potential,
44:24it is still very small.
44:27That makes us much more motivated.
44:30In the future, our potential is very big.
44:33So, we are grateful for what we have achieved,
44:38but we are also very motivated
44:41to work harder
44:42because we are sure that our potential is much bigger than that.
44:46And the participation of stakeholders in the capital market,
44:51especially emitters and registered companies,
44:56as well as stockholders,
44:59we hope will be the main players in the future.
45:04So, this becomes a global narrative
45:07related to efforts to reduce carbon emissions,
45:10but not everyone understands it.
45:14So, we need steps to assess,
45:17invoke, and provide a more detailed education
45:20so that we are more ready
45:25to be the main actors or main players
45:30in the Indonesian carbon exchange.
45:32Okay, I will go back to Mr. Fadli from Petalmina NRA.
45:36This is about assets from PNRA
45:40that will be developed in the future,
45:43in order to obtain carbon certification.
45:46If I am not mistaken, there is a PLTP that has obtained carbon certification.
45:52If I am not mistaken, it is PLTP Lahendong, right?
45:55Can you explain?
45:57Related to other assets, what are the achievements targeted?
46:01So, as I said earlier, the first one, PLTP Lahendong,
46:03was supplied to the carbon exchange last year,
46:07and in the future it will continue to be monetized,
46:11the potential of carbon reduction.
46:14This PLTP is Panas Bumi,
46:17Panas Bumi is located in Sulawesi.
46:20Indeed, we still have several other PLTPs,
46:23such as in Kamojang, Lubelu, and several other places.
46:28And we will try to see,
46:30it depends on the request itself.
46:33If we want to monetize or do the verification,
46:37there is a cost involved.
46:40It should not become a cost for us,
46:43without a clear demand.
46:45But now the hope is big,
46:48that all of this can be maximized,
46:52the potential.
46:54Then the second one, as I said earlier, is biogas.
46:57Biogas,
46:58this contains high methane,
47:01by using biogas power plants,
47:04the methane is not thrown into the air,
47:08because it is maximized as electricity.
47:12And we will also do the monetization.
47:18Then the third one,
47:20there is a gas power plant,
47:22which has been operating,
47:24called Jawa 1,
47:25and the fourth one,
47:27there will be several of our cooperation in forestry,
47:30which depends on the aspect of regulation.
47:36This is with Perhutani,
47:39with Nusantara IKN, for example.
47:42And the last one,
47:44is from Tenaga Surya,
47:47our PLTS.
47:49Indeed,
47:51maybe in the future,
47:53we need to find a solution together,
47:55because right now,
47:57we need a certain threshold
48:00to do the verification,
48:03because of the cost.
48:05If we calculate,
48:07maybe we need to have big assets.
48:10Unfortunately, these small assets cannot be verified and certified.
48:15Why?
48:17Because the mechanism of the verification process,
48:21the certification process,
48:23is per asset.
48:25So, the verification process cannot be put together into one.
48:28In fact,
48:30the so-called renewable industry,
48:32started from the small, right?
48:34So, in the future,
48:36aside from improving the primary aspect,
48:39but in some of the small ones,
48:41we also need to show,
48:43for us to congregate,
48:45to aggregate,
48:47how we do the bulk mechanism in the certification process.
48:50The potential will be much bigger.
48:52So, in the future,
48:54maybe we need to find a solution together.
48:56Alright, a round of applause for Narasumber.
48:59For Narasumber, who have joined in IDS Carbon Update,
49:02to make the business more sustainable,
49:04through the carbon exchange,
49:06from the conclusion that has been said,
49:08that it does need coordination from various parties,
49:11to finally be able to reduce carbon emissions,
49:14and also use the carbon exchange as a platform
49:17to get positive value for the company.
49:20Once again, a round of applause for Narasumber.
49:22On this occasion,
49:24I would like to invite you all,
49:26to move forward,
49:28because you will be given an award,
49:30which will definitely be given directly,
49:32or given directly,
49:34by the Director of Operational IDX Channel,
49:37Mr. Mah Sirom.
49:39To Mr. Mah Sirom, and also to you all,
49:42we would like to invite you to join us,
49:44in the front area of the stage.
49:47Mr. Jeffrey, thank you.
49:49Thank you, sir.
49:50Thank you, Mr. Mah Sirom.
50:20Thank you, Mr. Mah Sirom.