G-20 News

G20 summit in Bali to highlight importance of mangrove restoration

Jakarta (ANTARA) – The G20 summit in Bali in 2022 will highlight the importance of the Indonesian government’s mangrove restoration program, said Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan.

“President Joko Widodo will send a message to world leaders on the importance of mangrove restoration to generate carbon credits (at the top),” Pandjaitan remarked during the inspection of mangrove plantation sites in Bali on Thursday. .

The program has received $ 1.2 billion in funding, he said in a written statement in Jakarta on Friday. Countries and world leaders at the forum must take concrete steps to restore mangroves, he added.

Currently, the government is carrying out a mangrove restoration program covering an area of ​​600,000 hectares and the mangrove plantation in Bali is part of the mangrove restoration program, the minister said.

“To date and next year, we will restore nearly 200 hectares and most of the funds will come from the state budget,” he noted.

The extent of Indonesia’s mangrove restoration will add value in the form of carbon credits and prove to be more valuable to the nation, Pandjaitan informed.

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Therefore, the ministry, in collaboration with the public electricity company (PLN) and the financial services authority (OJK), is in the process of finalizing the derivative rules related to the carbon credit in question, he said. .

“We are currently completing derivative rules regarding the implementation of carbon pricing and carbon trading, as Indonesia is one of the superpower countries when it comes to carbon credits,” he added.

Indonesia’s high carbon credit will become a strength, he said. This potential must be managed and used optimally, he added. With this, the nation could earn hundreds of dollars over the next few years and generate jobs for generations to come, he explained.

The coordinating minister said his working visit to Bali was aimed at ensuring there were no problems and obstacles at the G20 summit, which is due to be held in 2022.

Things like dealing with waste issues and using clean energy should be started before preparing for the event, he noted.

He said he also hopes that all preparations and needs related to the G20 summit will be completed soon.

“Because we have the experience of the Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) last time. The obstacles are minor. There are 20 meeting places (for the G20 summit), so it’s not just Bali. The goal is to finish in August of next year, “Pandjaitan said.

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