Verra has agreed to help the Government of Indonesia support projects tackling climate change. Verra – the world’s leading accrediting organization of carbon credits and the Indonesian Carbon Trading Association (IDCTA) – the body gathering entrepreneurs and companies taking part in carbon trading in the country, announced they formed a joint task force to support the development of carbon credits projects in Indonesia.
The projects will reduce and/or remove greenhouse gases (GHG) from the atmosphere and will be financed through high-quality carbon credits. The two organizations will aim to ensure the projects are compliant with both Indonesian law and regulations and VCS Program requirements. Verra will aim to work towards harmonizing the Indonesian National Registration System (SRN) with the Verra Registry in a manner consistent with Indonesia laws and regulations.
Thus, the carbon credits projects will meet the needs of both national and international markets. Certain Verra methodologies will be implemented to the Indonesian carbon credits projects along with procedures allowing the trading of Indonesian carbon credits as Verified Carbon Units (VCUs). There is a view of considering further consolidation of procedures between Verra and projects in Indonesia in the future.
“Verra wholeheartedly endorses the efforts by the Government of Indonesia to establish a National Registration System and other regulations for carbon credits. We welcome the opportunity to work with IDCTA to promote projects and issuance of carbon credits based on high-quality principles,” commented David Antonioli CEO of Verra.
“IDCTA recognizes the historical role of Verra and other international standards bodies in promoting international investment into sustainable conservation projects, and looks forward to working with Verra to maximize the international trading opportunity, in compliance with all Indonesian laws and regulations,” also said Dr. Riza Suarga, Chairman of IDCTA.