OIKN explores climate funding through Nusantara Forest Carbon Project

Jakarta (ANTARA) – The Nusantara State Capital Authority (OIKN) explores climate funding opportunities through the Nusantara Forest Carbon Project in a bid to reduce emissions from the forestry sector.

The OIKN ensures that it will reverse the existing deforestation trend, OIKN’s Director of Forestry and Water Resources Utilization Development (PPKSDA) Pungky Widiaryanto noted in a statement, Wednesday.

The OIKN will also open up opportunities in carbon trade through the jurisdiction approach by involving the public, he remarked.

Carbon trade in IKN’s water territory is also possible due to the potential of expansive areas of mangroves and shorelines.

The development of Nusantara as a Forest City focuses on three areas: climate, community, and biodiversity.

“This will be done by returning the function of forests and increasing the forest coverage area to provide benefits both for the environment and communities,” Widiaryanto noted.

Meanwhile, OIKN’s Deputy for Environment and Natural Resources Myrna A. Safitri stated that the IKN will conduct a transformation of the economic model that does not focus on the extraction of natural resources, but rather, on environmental services through the industry cluster development.

“We, the IKN leadership, are very committed to conducting low carbon development, not just in the environmental sector but also in all sectors,” Safitri remarked.

In the business of carbon trade, East Kalimantan managed to reduce emissions by around 31.9 million tons from 2019 to 2020, exceeding the national emission reduction target of 22 million tons.

The OIKN, through a special authority that had been decided, has jurisdiction on matters related to forestry in Nusantara.

The OIKN, through green financing, will not only focus on material benefits, but it will also prove and provide an example to the world on the success of IKN that is developed as a sustainable Forest City. 

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