Indonesia Explores Biodiversity Credits Development, Eyes Hosting COP 18 CBD in 2028

The Indonesian government is exploring the development of a biodiversity credits scheme as a new instrument for conservation funding. The initiative was discussed by Minister of Environment and Head of the Environmental Control Agency, Jumhur Hidayat, during a meeting with Dame Amelia Fawcett, Co-Chair of the International Advisory Panel on Biodiversity Credits (IAPB), on the sidelines of London Climate Action Week in the United Kingdom on Wednesday. Jumhur was accompanied by Deputy for Pollution and Environmental Damage Control Rasio Ridho Sani and Expert Staff to the Minister for Biodiversity and Socio-Cultural Affairs Noer Adi Wardojo. Jumhur and Amelia exchanged views on the opportunities and strategies for developing biodiversity credits in Indonesia. The scheme is seen as capable of unlocking new funding sources for the protection and restoration of biodiversity. During the meeting, Jumhur also conveyed 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 pursued by building support from domestic stakeholders and international partners. Amelia assessed that Indonesia has significant potential to leverage funding through the biodiversity credits scheme, supported by the country’s status as one of the world’s most biodiverse nations. She also commended the Ministry of Environment’s move to establish a Taskforce for Biodiversity Credits Development. The task force is being prepared to accelerate the implementation of the biodiversity credits scheme in Indonesia through policy studies, scheme design, mapping of potential pilot projects, and intensive consultations with stakeholders. ‘Indonesia’s initiative is pioneering the development of biodiversity credits in the Asian region and globally. This sends an important message about cross-country and multi-stakeholder collaboration to enhance biodiversity conservation with a nature-positive spirit,’ Amelia told Jumhur. Both parties agreed to strengthen cooperation by positioning the IAPB as a knowledge partner for the Ministry of Environment. The collaboration will also be directed at bolstering dialogue in various international forums, including the upcoming COP 17 of the Convention on Biological Diversity in Yerevan, Armenia, this October.