Jakarta – PT Pertamina (Persero) cooperates with the Indonesia Stock Exchange (IDX) in initiating a carbon trading pilot project between its subholdings: Pertamina NRE, Subholding Upstream (PHE), and Subholding Refinery and Petrochemical, in a bid to jointly develop the Carbon Business Build initiative, the company said in an official statement, Wednesday (1910).
Pertamina Director of Strategy, Portfolio and Business Development Atep Salyadi Dariah Saputra said both companies will review the potential for business cooperation so as to increase knowledge and optimise their respective duties and functions for the implementation of the voluntary carbon market and carbon market compliance.
“This is the next stage of our exploratory steps in the carbon business as an effort to accelerate the development of the national and international carbon trading ecosystem,” said Saputra after signing the Memorandum of Understanding between Pertamina and IDX, amidst a series of SOE International Conference & EXPO in Nusa Dua, Bali.
He said further potential carbon trading cooperation that can be carried out is the use of the IDX’s carbon trading infrastructure in carrying out carbon trading transactions through the carbon exchange in Indonesia, developing a national carbon trading ecosystem, piloting internal and/or international carbon trading, sharing knowledge related to the development of trading business, national and or international carbon and other forms.
Efforts to achieve emission reduction targets through carbon trading are also carried out by Pertamina with the VCM Piloting Initiative by Subholding Power & NRE (PPI) and Subholding Upstream (PHE). In this initiative, PHE and KPI as companies that produce carbon will buy carbon credits from Pertamina NRE as compensation.
In this initiative, geothermal plants Lahendong units 5 and 6 in North Sulawesi were appointed to be the source to compensate for their carbon emissions. The Lahendong plants are managed by Pertamina Geothermal Energy (PGE), a subsidiary of Pertamina NRE. Lahendong units 5 and 6 are one of PGE’s CDM projects that has held the Verified Carbon Standard (VCS) since 2018. (Hartatik)
Banner photo: Pertamina handout image
