Roughly 90% of carbon credit buyers on Indonesia’s IDXCarbon platform remain local, according to PT Bursa Efek Indonesia (IDX). The dominance of domestic players stems in part from the fact that international trading on the platform only began in January 2025. Despite this, IDX is optimistic that global participation will grow.
Speaking to local outlet VOI Media, IDX’s Development Director Jeffrey Hendrik said: “It will still take time until this international carbon unit can be understood by prospective buyers from outside. However, we continue to coordinate with OJK (the Indonesian financial services sector supervisor) and KLH (Ministry of Environment) in terms of international marketing.”
Hendrik added that while the identities of domestic participants remain private, information on beneficiaries of retired carbon credits can be found through the government’s SRN-PPI registry (the country’s National Climate Change Registry System).
Since its launch in September 2023, IDXCarbon has facilitated trades totaling 1.6 million tons of CO2 equivalent, with a transaction value of nearly IDR 78 billion ($4.7 million). Of that, around 980,000 tons have been retired as emission offsets.
To date, 113 entities have joined the platform, contributing 3.05 million tons in certified greenhouse gas reductions—about 97% of the credits listed in the national climate registry. Eight projects have been formally onboarded, spanning sectors such as renewable energy, biogas from palm oil waste, and waste processing.
Hendrik also highlighted ongoing efforts to educate and attract foreign buyers through online campaigns, while expanding domestic engagement via in-person roadshows and the return of the Net Zero Incubator program in 2025.
Indonesia Laying the Foundations for International Carbon Trading
Since IDXCarbon was launched in September 2023 it has faced weak demand, partly due to delays in implementing a national cap-and-trade system.
It has been open to international participants only for six months while 2024 saw the platform trade 413,764 tons of credits at an average price of $2.90 (47,682 rupiah) per ton.
One of the milestones this year came in March when state-owned utility PT PLN made history by becoming the first Indonesian company to participate in international carbon trading. The President’s Special Envoy for Climate and Energy, Hashim Djojohadikusumo described the development as “a very positive and significant step” that will attract foreign investment and enhance liquidity in Indonesia’s carbon market.
On a state level the country has also been active and during COP29 it struck the first Mutual Recognition Arrangement (MRA) under the Paris Agreement’s Article 6.2 carbon trading system with Japan. The agreement saw Indonesia becoming an issuer of carbon credits with Japan being the buyer.
Relevant: Indonesia Kicks Off International Carbon Market Trading
