The Indonesia Carbon Market Academy Strengthens the Capacity and Competitiveness of National Carbon Market Players
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.
