Draft Government Regulation Governing Biodiversity Credit

The government is currently preparing a biodiversity credit scheme for environmental conservation. This will be regulated in Draft Regulation of the Government (Rancangan Peraturan Pemerintah- “ RPP ”) on the Protection and Management of Biodiversity (Perlindungan dan Pengelolaan Keanekaragaman Hayati-“ PPKH ”).

“Biodiversity credit is included in the RPP PPKH. Learning from the protracted and often detrimental experiences with the Paris Agreement scheme, we will design the biodiversity credit framework differently,” said Minister of Environment Hanif Faisol Nurofiq to Hukumonline.

The scheme aims to optimize the management of biodiversity in a beneficial manner. The RPP PPKH also regulates matters related to funding, supervision, and the strengthening of implementation in areas of significant biodiversity value.

“We are currently collaborating with the governments of the UK and France to initiate this, so that it can become an appropriate and swift action,” said Hanif.