Jakarta – At COP30 in Belém, Brazil, Pertamina completed the sale of 37,000 tonnes of CO₂e to Bank Mandiri and CIMB Niaga through a “Seller Meet Buyer” trade scheme, according to a written statement on Friday, 14 November.
On a separate occasion in Belém, PT PLN (Persero) and the Global Green Growth Institute (GGGI) signed a Framework Agreement under the umbrella of bilateral cooperation between the Governments of Indonesia and Norway, to channel the results of 12 million tonnes of CO₂e emissions mitigation from renewable energy projects.
“We view this cooperation not as an end, but as the beginning of the actual implementation phase. Indonesia wants to ensure that the carbon market that is built is highly credible, transparent, and provides direct benefits to the community and the environment,” said Minister of Environment/Head of BPLH, Hanif Faisol Nurofiq, on Thursday, 13 November.
Pertamina’s Director of Business Transformation and Sustainability, Agung Wicaksono, explained that the carbon credits sold at COP30 came from two strategic projects, namely the Sei Mangkei PLTBg in North Sumatra and the Lahendong PLTP in North Sulawesi. “These two projects demonstrate Pertamina’s increasingly clear direction of energy transformation, which is to rely on geothermal and biogas as the basis for carbon credit production in the future,” said Agung.
Since 2023, Pertamina has recorded cumulative carbon credit sales of more than 846 thousand tonnes of CO₂e, making the company one of the main players in carbon trading in Indonesia’s energy sector.
Indonesia-Norway cooperation
The bilateral cooperation between Indonesia and Norway, which has focused on Nature-Based Solutions (NBS) through Norway’s Result-Based Contribution (RBC) scheme, has contributed up to USD 260 million to Indonesia’s forest management performance. With this new agreement, Indonesia is entering a phase of technology-based carbon trading and diversification of emission mitigation sources towards a low-carbon energy transition.
“We appreciate Norway’s commitment to cover five per cent of the Share of Proceeds for adaptation activities. Indonesia proposes that these funds be channelled through the National Climate Fund mechanism, so that their implementation is more effective and in line with national priorities,” added Minister Hanif.
Internal carbon strategies to attract clean energy investment
Pertamina is currently strengthening internal carbon pricing as an investment decision-making mechanism, according to Agung. This policy is expected to promote energy efficiency and accelerate the entry of renewable energy projects into the development stage.
Pertamina has also prepared Measurement, Reporting, and Verification (MRV) procedures to ensure that every project meets standards recognised by both domestic and international markets. With robust MRV, the carbon credits generated can be traded globally.
Pertamina is the first seller of carbon credits on the IDXCarbon platform, since its launch on 26 September 2023. Since then, the total carbon credits marketed by Pertamina have reached 864,000 tonnes of CO₂e. Throughout 2025 alone, Pertamina’s PNRE Subholding has generated 249,000 tonnes of carbon credits, particularly from geothermal projects and the utilisation of palm oil mill effluent (POME). (Hartatik)
Banner photo: Image generated by OpenAI’s DALL·E via ChatGPT (2024)
