Indonesias Domestic Carbon Trade Ecosystem Now Recognizes International Standard Carbon Units: New Opportunities for Nature-Based Solution Projects

In 2021, the government introduced Regulation of the President No. 98 of 2021 on the Organization of Carbon Economic Value (Nilai Ekonomi Karbon– “ NEK ”) to Achieve Nationally Determined Contribution (“ NDC ”) Targets and Control over Greenhouse Gas (“ GHG ”) Emissions in Relation to National Development (“ Regulation 98/2021 ”) in order to implement the country’s climate change commitments in the wake of the ratification of the Paris Agreement. [1]