South Korea and Indonesia Agree to Cooperate on Reducing Carbon Emissions

Indonesia and South Korea have agreed to collaborate to reduce carbon emissions. This was marked by the signing of a memorandum of understanding on the implementation of Article 6 of the Paris Agreement. Coordinating Minister for Economic Affairs Airlangga Hartarto welcomed the initiative of the South Korean Ministry of Trade, Industry and Energy (MOTIE) in establishing bilateral cooperation with Indonesia to implement Article 6 of the Paris Agreement. This is in line with Indonesia’s efforts to continue exploring cooperation both bilaterally and multilaterally.

Airlangga said this event was one way to strengthen the achievement of the commitment as stated in the Enhanced Nationally Determined Contribution (ENDC) to reduce carbon emissions by up to 31.89% with his own efforts and up to 43.20% with international support. In addition, the two countries will also obtain carbon credits through Internationally Transferred Mitigation Outcomes (ITMO) from selected projects that receive subsidies from MOTIE.

“MOTIE has contacted the Coordinating Ministry for the Economy since last year. We agreed to this cooperation and signed the MoU today. The form of cooperation in this MoU also has many similarities with the implementation of JCM that has been carried out by Indonesia. After this, we hope that companies from both countries can immediately collaborate to realize a reduction in carbon emissions,” said Airlangga in a written statement, Thursday (6/6/2024).

Airlangga said that his party had experience in coordinating similar cooperation through the Joint Crediting Mechanism (JCM) scheme between Indonesia and Japan since 2013. Currently there are 55 JCM projects spread across various regions in Indonesia and have contributed significantly to supporting low-carbon development in Indonesia.

He also hopes that the collaboration with South Korea can contribute a lot in encouraging Indonesia’s efforts to achieve the target of Enhanced Nationally Determined Contribution (ENDC) in 2030 and Net-Zero Emission (NZE) in 2060 or sooner.

“This collaboration can support sustainable development in Indonesia through increasing green investment and creating green jobs,” he explained.

June 6, 2024, detikFinance