Jakarta, July 24, 2025 – The Indonesian Business Council (IBC), through its program, Indonesia Carbon Market Academy (ICMA), seeks to strengthen the technical capacity, governance, and competitiveness of national carbon market players so they can respond to global opportunities and encourage the achievement of the government’s emission reduction target towards net-zero by 2050.

The Indonesian government aims to generate potential revenues of up to US$65 billion (approximately Rp1,000 trillion) from carbon credit exports by 2028. As one of the countries with the largest tropical forests in the world, Indonesia has a strategic position in efforts to reduce greenhouse gas (GHG) emissions and carbon trading. Since its launch on September 26, 2023, to July 11, 2025, IDXCarbon has recorded a total transaction volume of 1,599,326 tons of CO₂e with a value of IDR 77.95 billion.

IBC Chief Operating Officer William Sabandar emphasized that the first step in building a robust carbon market ecosystem is education. Private sector players need to understand and align the narratives of decarbonization and green growth as part of their future business strategies. It is in this context that IBC launched ICMA, a capacity-building program to produce competent carbon market players ready to compete globally.

“ICMA is built on three main pillars. First, strengthening education and changing the mindset of industry players to focus on green solutions, including those from the fossil-based sector. Second, expanding the reach of the sustainability narrative through massive public outreach and communication, especially through the media. Third, encouraging active involvement in practical programs that support the energy transition and green growth initiatives,” he said.

Executive Director of the Indonesian Center for Renewable Energy Studies (ICRES), Paul Butarbutar, highlighted that the main challenge in developing a national carbon market lies in the low quality and integrity of some carbon credit projects, which has resulted in declining confidence in the global market. According to Paul, collaboration between the private sector, government, and civil society is crucial to addressing this gap. “ICMA provides a strategic platform for market players to gain practical and technical knowledge to better prepare for the increasingly complex dynamics of the carbon market,” Paul explained.

Founder & CEO of Fairatmos, Natalia Rialucky Marsudi, added that carbon credits are a crucial instrument for balancing economic growth with environmental conservation. He emphasized the importance of an inclusive approach to carbon market development, which requires active involvement of all stakeholders, from corporations and village forest communities to the general public.

“Our goal is to create inclusivity. Everyone should have an equal opportunity to explore this opportunity, not just because of its economic value, but because, as a country contributing to global emissions, we cannot rely on just a handful of players,” she said. 

Natalia further stated that carbon project development in Indonesia still faces several challenges, ranging from technical barriers to limited access to climate finance. This is the primary reason for Fairatmos’ presence: to provide technology-based solutions and bridge the gap between carbon credit suppliers and buyers.

She also believes that initiatives such as ICMA can be an important catalyst in narrowing this gap by empowering actors from various backgrounds to participate fairly, transparently, and sustainably in the national carbon ecosystem.

Natalia believes that the presence of ICMA can bridge this gap by equipping actors from various backgrounds to contribute fairly, transparently, and sustainably to the national carbon ecosystem.

In closing, William emphasized that ICMA is not just a training program, but a strategic step to ensure that Indonesia is not only part of the global carbon market, but also a major player with high capacity and integrity.

“With full support from market players, we are optimistic that Indonesia will be able to compete globally and create a sustainable carbon market. Through these efforts, ICMA is expected to be a key driver in building a more transparent, competitive, and globally competitive Indonesian carbon market ecosystem,” he concluded.

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• On June 12, 2025, IBC held the first session of ICMA 2, themed “Build Your Own Carbon Market,” co-hosted by Paragon Corp at the Paragon Community Hub. 

• The session brought together nine representatives from IBC’s member companies to strengthen capabilities in developing high-quality, high-integrity carbon projects. 

• Participants gained practical insights through project validation exercises and real-world case studies from Forestry and Renewable Energy initiatives. 

On June 12, 2025, the Indonesian Business Council (IBC) held the first session of its Indonesia Carbon Market Academy 2 series with the theme of “Build Your Own Carbon Market,” co-hosted by Paragon Corp at the Paragon Community Hub. The program brought together nine representatives from IBC’s member companies, all of whom are actively involved in both technology-based and nature-based carbon projects. The program, designed by carbon project development experts Paul Butar Butar and Arrie Setiawan, was designed to assist members in developing high-quality, high-integrity, and globally competitive carbon projects. 

This session covered: 

1. Project validation preparations, using participants’ Project Idea Notes (PINs) as case studies. 
2. Real-life case studies from Forestry and Other Land Use (FOLU) and Renewable Energy projects to illustrate how baseline scenarios are established, emission reduction potential is measured, and how robust carbon project designs are developed. 

The successful first session of ICMA 2 highlighted the value of collaboration between IBC, its members, and expert practitioners in driving Indonesia’s carbon market development forwards.

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• On July 10, 2025, IBC concluded its Indonesian Carbon Market Academy (ICMA 2) with a fourth session on validation and monitoring. 

• The session aimed to provide members with the practical tools to strengthen project credibility through monitoring, reporting, and audit simulations. 

• Participants showcased six proposed carbon projects, reflecting the progress achieved across the ICMA 2 series in building high-integrity initiatives. 

On July 10, 2025, the Indonesian Business Council (IBC) concluded its Indonesian Carbon Market Academy 2 series with its fourth session with the topic of validation and monitoring. The final session equipped IBC members’ representatives with the toolkit to develop carbon projects that reflect Indonesian business leadership in advancing the green economy. 

The final session focused on: 

1. Monitoring, reporting, and validation-audit practices. 
2. A simulation of the validation audit process.

The six proposed carbon projects showcased by IBC members’ representatives at the session demonstrated the progress made throughout the ICMA 2 series in building, credible high-integrity initiatives. By concluding with hands-on validation and monitoring exercises, the program reinforced IBC’s commitment to equipping its members with the knowledge and skills needed to position Indonesian businesses at the forefront of green economy innovation. 

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• On June 26, 2025, IBC held the third session of its Indonesia Carbon Market Academy (ICMA 2), co-hosted by Barito Pacific Group at Wisma Barito Pacific II, focusing on baseline scenarios and additionality. 

• The session aimed to strengthen members’ capacity to design credible carbon projects by demonstrating emission reduction value and project integrity. 

• Participants presented diverse project ideas and received expert-led validation stress tests, fostering peer-to-peer learning and collaboration.

On June 26, 2025, the Indonesian Business Council (IBC) continued its Indonesia Carbon Market Academy (ICMA) program with its third session, focusing on baseline scenarios and additionality. The session, co-hosted by Barito Pacific Group and held at Wisma Barito Pacific II, was led by Paul Butar Butar and Albert Sutanto, two of Indonesia’s leading carbon market experts. Attending representatives of IBC’s members learned how to construct baseline scenarios–used to estimate greenhouse gas emissions that would occur in the absence of a carbon project–and how to demonstrate additionality, proving that carbon projects provided added value to emission reductions. 

Each participant presented their proposed carbon projects, spanning a wide scope of topics including: 

1. Social forestry 
2. Integrated Forest Management (IFM) 
3. Biochar 
4. Geothermal 
5. Afforestation/reforestation 

Experts then conducted validation stress tests, simulating how auditors would evaluate the robustness of their project design.  

Through peer-to-peer learning, where members at different stages of their project exchanged experiences and strengthened best practices, the third ICMA 2 session highlighted the importance of collaboration in developing credible, high-integrity carbon initiatives. By combining expert guidance with member-driven exchanges, IBC continues to equip its members with the tools and knowledge needed to accelerate the growth of Indonesia’s carbon market.

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• On June 19, 2025, IBC held the second session of its Indonesia Carbon Market Academy (ICMA 2), co-hosted by Paragon Corp at the Paragon Community Hub. 

• The workshop guided member representatives through drafting Project Design Documents (PDD) and Daftar Rancangan Aksi Mitigasi (DRAM), essential for advancing diverse carbon projects. 

• Facilitators combined group drafting with one-on-one mentoring to address project specific regulatory, licensing, and financing challenges. 

On June 19, 2025, the Indonesian Business Council (IBC) held the second session of its Indonesian Carbon Market Academy program, co-hosted by Paragon Corp, at the Paragon Community Hub. The workshop, facilitated by carbon market experts Arrie Setiawan and Albert Sutanto from Mountain Stonegate, guided IBC members’ representatives through the process of drafting two essential documents: the Project Design Document (PDD) and the Dafter Rancangan Aksi Mitigasi (DRAM). The two documents are prerequisites for the establishment of IBC’s members’ companies’ diverse project types, ranging from afforestation and reforestation (ARR) and biogas to waste management and Integrated Forest Management (IFM). Through combining group drafting with one-on-one expert mentoring, IBC was able to meet the needs of each project’s unique regulatory, licensing, and financing challenges. 

Topics covered by this session’s facilitators included: 

1. Project boundaries and ownership. 
2. Stakeholder consultation and financing models. 
3. Baseline scenarios and additionality. 
4. Monitoring and emission reduction tracking. 

The second ICMA 2 session reaffirmed IBC’s commitment to strengthening private-public collaboration and innovation through equipping members with the technical and regulatory capabilities needed to advance high-quality carbon projects. Building on this momentum, IBC will continue to provide a platform for knowledge-sharing and practical capacity-building to ensure Indonesia’s carbon market develops with integrity, competitiveness, and long-term sustainability.

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• On May 15, 2025, IBC launched the second edition of its flagship Indonesia Carbon Market Academy (ICMA 2) alongside SBM ITB. 

• Over multiple sessions, the program equipped participants from diverse industries with knowledge and skills to design carbon projects supporting Indonesia’s decarbonization agenda. 

• The launch reaffirmed IBC’s role as a catalyst for cross-sector collaboration and knowledge-sharing in advancing the carbon market. 

On May 15, 2025, the Indonesian Business Council (IBC) launched the second edition of its flagship Indonesia Carbon Market Academy (ICMA 2) program in collaboration with the School of Business and Management Institut Teknologi Bandung (SBM ITB). Over sessions held over multiple days, participants focused on strengthening their knowledge and skills in developing carbon projects–a crucial step in supporting Indonesia’s decarbonization project. Participants came from a wide spectrum of industries, including oil and gas, forestry, palm oil, FMCG, shipping, and mining, demonstrating IBC members’ strong cross-sector commitment to advancing sustainable practices. 

The program featured two core capability-building sessions: 

1. Understanding Indonesia’s Carbon Market provided foundational insights into carbon market concepts, market case studies, and recent regulatory developments. 
2. Build Your Own Carbon Project offered tailored four-day coaching for participants to design their own carbon initiatives and Project Design Documents. 

Through this launch, IBC and its members reaffirmed our role as a catalyst for collaboration and knowledge-sharing in accelerating the growth of Indonesia’s high-potential carbon industry.

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