Indonesia, ICVCM collaborate to develop high-integrity carbon market

 The Indonesian Ministry of Forestry and the Integrity Council for the Voluntary Carbon Market (ICVCM) have signed a memorandum of understanding (MoU) to strengthen the development of a high-integrity voluntary carbon market ecosystem in Indonesia.

"This collaboration reflects our determination to ensure that Indonesia’s carbon market develops on the basis of trust, integrity, and national sovereignty," Forestry Minister Raja Juli Antoni said in a statement on Sunday.

The MoU was signed during the High-Level Breakfast Roundtable at the Sustainable Business COP30 (SBCOP) in São Paulo, Brazil, on Saturday.

Antoni said the agreement represents a strategic step ahead of the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil, where Indonesia aims to present its tropical rainforests as a global hub for a credible and equitable carbon market.

"Indonesia’s vast tropical rainforests not only serve as the lungs of the world, but also as the global center for the transition toward a trustworthy carbon economy," he remarked.

He added that by aligning with global integrity standards, Indonesia is laying the groundwork for a carbon market ecosystem that is transparent, science-based, and beneficial to local communities and indigenous peoples.

The partnership between the ministry and the ICVCM marks a new phase in Indonesia’s commitment to ensuring that carbon market development adheres to the highest global standards of environmental integrity and transparency.

Under the agreement, the ICVCM will support the ministry through capacity building, knowledge exchange, and technical assistance related to integrity criteria, assurance mechanisms, and Measurement, Reporting, and Verification (MRV) systems in the forestry and land-use sectors.

The MoU also outlines plans to strengthen the capacity of civil servants, project developers, and other stakeholders in applying high-integrity carbon market principles.

Both parties agreed to promote greater public understanding of the opportunities and safeguards within the voluntary carbon market and to develop collaborative activities and forums to enhance Indonesia’s readiness for a credible carbon market framework.

ICVCM Director of Public Affairs Lorna Ritchie welcomed the partnership, noting that it would help establish an interconnected yet locally grounded carbon market while maintaining internationally consistent integrity standards.

The ICVCM is an independent, multi-stakeholder governance body that sets and enforces the highest standards of ethics, sustainability, and transparency in the global voluntary carbon market.