Indonesia Explores Biodiversity Credits Development, Eyes Hosting COP 18 CBD in 2028
The Indonesian government is exploring the development of biodiversity credit schemes as a funding instrument for conservation. This move was discussed by the Minister of Environment/Head of the Environmental Control Agency, Jumhur Hidayat, during a meeting with the Co-Chair of the International Advisory Panel on Biodiversity Credits (IAPB), Dame Amelia Fawcett, on the sidelines of London Climate Action Week in London, UK, on Wednesday (24/6) local time.
During the meeting, Jumhur was accompanied by the Deputy for Pollution and Environmental Damage Control, Rasio Ridho Sani, and the Minister’s Expert Staff for Biodiversity and Socio-Culture, Noer Adi Wardojo.
Jumhur and Amelia exchanged views regarding the opportunities and strategies for developing biodiversity credits in Indonesia. The scheme is viewed as a way to unlock new funding sources for the protection and restoration of biodiversity.
On this occasion, Jumhur stated that Indonesia is exploring the opportunity to host the 18th Conference of the Parties to the Convention on Biological Diversity (COP 18 CBD) in 2028. This effort is being undertaken by building support from domestic stakeholders and international partners.
Amelia noted that Indonesia possesses great potential to utilise funding through biodiversity credit schemes, supported by Indonesia’s position as one of the countries with the greatest biodiversity in the world.
She also commended the Ministry of Environment’s step in forming a Biodiversity Credits Development Taskforce. The taskforce is being prepared to accelerate the implementation of biodiversity credit schemes in Indonesia through policy studies, scheme formulation, mapping potential pilot projects, and intensive consultation with stakeholders.
“Indonesia’s initiative to become a pioneer in the development of biodiversity credits in the Asian region and globally sends an important message regarding collaboration between countries and parties to enhance biodiversity conservation with a nature-positive spirit,” Amelia told Jumhur.
Both parties agreed to increase cooperation by positioning the IAPB as a knowledge partner for the Ministry of Environment. This collaboration will also be directed towards strengthening dialogue in various international forums, including the COP 17 Convention on Biological Diversity in Yerevan, Armenia, this coming October.