Environment Indonesia launches carbon emissions trading By Reuters September 26, 2023 REUTERS/Edgar Su Indonesia's President Joko Widodo launched the trades on Tuesday. Thirteen transactions were made, priced at $4.51 per tonne Indonesia’s President Joko Widodo launched his country’s first carbon emissions trading on Tuesday, as it aims to create a market that will fund efforts to reduce emissions. Indonesia, an archipelago home to the world’s third largest area of rainforest, is also one of the world’s top greenhouse gas emitters. The Southeast Asian country has set a target of reaching carbon neutrality by 2060. Bahrain’s Investcorp completes first IPO in Indonesia Thirteen transactions representing carbon credits for nearly 460,000 metric tonnes of carbon dioxide equivalent (CO2e) were traded during the launch, priced at 69,600 rupiah ($4.51) per tonne, according to a trading board at the Indonesia Stock Exchange. All of them were from geothermal projects in North Sulawesi, owned by PT Pertamina Geothermal Energy. Jokowi, as the president is popularly known, said Indonesia had tremendous potential for carbon reduction efforts and its emissions trading market could grow to be worth $194 billion. In the initial stage, trading will be voluntary, said Luhut Pandjaitan, a senior minister overseeing regulations for carbon pricing, during the launch.