Indonesia finalizes CCS regulation to strengthen climate action efforts

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: Indonesia has finalized a regulation for carbon capture and storage (CCS), pending presidential approval, to bolster its climate action efforts
• This move is part of Indonesia's broader strategy to reduce carbon emissions and transition to renewable energy

🔭 The context: As a major coal producer, Indonesia has committed to reducing its greenhouse gas emissions by 31.89% independently and 43.2% with international aid by 2030
• The regulation supports these goals by establishing the Indonesia Carbon Capture and Storage Center (ICCS Center) and launching the IDXCarbon exchange for carbon trading

🌍 Why it matters for the planet: The regulation and supporting initiatives, like the ICCS Center and IDXCarbon, aim to mitigate Indonesia's significant carbon footprint, aligning with global climate targets

⏭️ What's next: The regulation awaits President Joko Widodo's signature, and once approved, it will facilitate the development of CCS projects and the expansion of renewable energy use in Indonesia

💬 One quote: "The regulation has completed the harmonization process and is currently in the final stages of presidential approval," stated Dadan Kusdiana, Secretary General of the Ministry of Energy and Mineral Resources

📈 One stat: Indonesia aims to cut its greenhouse gas emissions by 43.2% with international assistance by 2030

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