JAKARTA – Indonesia and South Korea have signed a memorandum of understanding to incentivise a reduction of carbon emissions produced by companies from both countries, a senior Indonesian minister said on Thursday.
Through the deal, companies are urged to collaborate in projects that could reduce carbon emission in Indonesia and in return, both countries would get carbon credits from ventures operated by those firms, minister Airlangga Hartarto said in a statement.
The projects will get financing support from South Korea’s Trade, Industry, and Energy Ministry, he added.
Indonesia is aiming to achieve net zero emission by 2060 or sooner.
(Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Martin Petty)
