Gold Standard And The Indonesia Carbon Trade Association Launch Taskforce

Gold Standard And The Indonesia Carbon Trade Association Launch Taskforce - Carbon Herald

A joint taskforce has been launched by Gold Standard and the Indonesia Carbon Trade Association to enhance the compatibility between Indonesian carbon market regulations and Gold Standard’s methodologies and requirements.

The taskforce, which was formed through an MoU signed on Monday 6 May, will support the development of carbon mitigation projects in Indonesia that represent both the highest levels of environmental integrity, and deliver measurable sustainable development benefits.

Margaret Kim, CEO of Gold Standard said: “Projects using Gold Standard methodologies in Indonesia have already made verified contributions to 11 of the 17 UN Sustainable Development Goals and stopped over 2.8m tonnes of CO2e entering the atmosphere. Through this partnership we can achieve even more, driving finance to where it can have the most impact.”

DR. Riza Suarga, Chairman of the Indonesia Carbon Trade Association said: “Gold Standard has been playing a significant role in mitigating climate change towards its contribution setting a lead in market demand standard and registry.”

Relevant: EcoSafi Issues First Carbon Credits In Africa Under Gold Standard Methodology

“With this collaboration I am confident that we all can strengthen the relationship and fully support the Indonesian National Registry System, so IDCTA’s members able to trade comfortably complying to National Regulation at the same time meet global market expectation.”

The taskforce will start work immediately and will undertake to assess and enable compatibility between Gold Standard’s methodologies and Indonesia’s national registry system, national and independent registries, and validation, monitoring and verification procedures.

Some Gold Standard methodologies, such as those pertaining to renewable energy, are already set to be applied to Indonesian carbon projects.

Through this collaboration, the taskforce aims to ensure that the development of carbon market regulation and infrastructure in Indonesia is well-aligned with national and international markets in a manner that maximises the benefits for local communities and governments, while providing clarity to project developers.

Read more: Indonesia Revokes License For Rimba Raya Carbon Offset Project On Borneo Island

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