Antara, Jakarta/Belem, Brazil – Indonesia is aiming for at least Rp16 trillion (roughly $980 million) in carbon market transactions during the United Nations COP30 climate summit in Belem, Brazil, as the country pushes to monetize high-quality carbon credits from forests, oceans, energy and industry.
Environment Minister Hanif Faisol Nurofiq said the target reflects 90 million tons of potential CO2 transactions across nature-based and technology-based sectors.
"By the time we return from Belem, we expect to secure at least Rp16 trillion," Hanif said during the Belem Leader Summit on Friday local time, according to Antara.
He urged the Indonesian delegation to maximise diplomacy at Indonesia Pavilion activities and in negotiation rooms to open dealmaking opportunities throughout COP30, which runs from Nov. 10-21.
Indonesia will stage daily "seller-meet-buyer" sessions at the Pavilion to connect domestic carbon credit issuers with global institutional investors.
Despite being home to the world's third-largest tropical rainforest, about 125.9 million hectares, Indonesia's carbon trading at home is still small.
Since the launch of IDX Carbon in September 2023 to August 2025, total accumulated transactions reached about Rp78.37 billion with 1.6 million tons CO2 traded. Activity accelerated sharply in 2025: volumes rose 483 percent through August to 696,763 tons, worth Rp27.74 billion.
Government scenarios estimate Indonesia's carbon trading potential at around 13.4 billion tons CO2 between 2024 and 2050. With carbon priced at $15/ton, the market could yield nearly Rp128 trillion per year.
Indonesia also used the summit to confirm its pledge to invest $1 billion in Brazil's flagship Tropical Forest Forever Facility (TFFF). President Prabowo Subianto sent his brother, businessman Hashim Djojohadikusumo, as his special climate envoy to deliver the announcement.
"Indonesia will actively participate and has committed to match Brazil's contribution of $1 billion," Hashim told delegates, drawing applause. He also told world leaders that Indonesia's average annual deforestation rate had fallen to its lowest level in 20 years, a 75 percent reduction since 2019.
Norway remains the largest donor with a conditional $3 billion pledge over ten years. France promised Euro 500 million by 2030. The Netherlands and Portugal pledged smaller contributions, while Germany signaled support but has yet to define its financing.