REPUBLIKA.CO.ID, BAKU - PT Pertamina (Persero) has begun to open up carbon business opportunities in adapting the spirit of energy transition to achieve the Net Zero Emission (NZE) target in 2060. The CEO of Pertamina New and Renewable Energy, John Anis, during a panel session at COP 29, Baku, Azerbaijan, said Pertamina has a number of strategies for developing its carbon business.

In his presentation, John highlighted the huge potential of carbon trading for energy companies and its significant benefits to the environment. Indonesia has no less potential. One of them is through solutions based on renewable energy technologies and mangrove conservation projects carried out by Pertamina in cooperation with strategic partners.

“We have two main approaches to carbon trading: the first is technology-based solutions, such as the renewables we have developed. On the other hand, there are nature-based solutions, where we collaborate with strategic partners on a variety of projects, such as mangrove conservation, which can later be leveraged to be formulated into the form of carbon credits,” John said.

With ever-increasing demand and projected carbon prices increasingly competitive in global markets, including Indonesia, John stressed that the potential for carbon trading in the future is very promising.

“The carbon market in Indonesia has great potential to expand, especially as the government begins to introduce carbon storage mechanisms more widely in the coming years,” he added.

PNRE also demonstrated its commitment to reducing domestic emissions through a variety of initiatives, such as energy efficiency across its operational units, elimination of zero flaring routines, and the implementation of carbon capture and storage technologies (CCUS).

“It's not just about meeting targets, but how we can create businesses that are aligned with a low-emission future and support a sustainable energy transition,” John said.

In its collaboration with international partners such as ExxonMobil and Japanese companies, PNRE also focuses on developing CO2 storage projects, utilizing already dormant oil and gas reservoirs in Indonesia.

He explained that this carbon storage potential reaches up to 5 gigatons of CO2, which is expected to contribute greatly to Indonesia's emission reduction in the future.

John also highlighted the importance of the company's contribution in supporting various net zero events through carbon credit compensation and adopting net zero certification for internal activities.

“The younger generation is now increasingly concerned and wants to contribute to the management of environmental risks. This move proves that Pertamina is not only focused on business sustainability, but also on a greener future,” he concluded.

With these measures, Pertamina demonstrates its position as a leader in the energy industry that is committed to sustainable business and plays an active role in global efforts to reduce carbon emissions.

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