Jakarta, Indonesia [1/12] - Pertamina New & Renewable Energy (Pertamina NRE) has signed a Memorandum of Understanding (MoU) with Fairatmos to commit to the development of a carbon project in Indonesia based on Nature-based Solutions (NbS). The MoU was signed during the United Nations Climate Change Conference (COP28) held in Dubai, United Arab Emirates.
Signed by CEO of Pertamina NRE, Dannif Danusaputro, and Fairatmos CEO Natalia Rialucky, the carbon project development will utilize a range of cutting-edge monitoring and reporting technologies currently being developed by Fairatmos.
"We are very enthusiastic about the strategic cooperation with Fairatmos. This is a commitment that supports Indonesia's efforts to reduce carbon emissions and achieve nationally determined contribution (NDC) targets. The partnership with Fairatmos opens up opportunities to expand our reach in developing innovative carbon emission reduction projects. This collaboration represents Indonesia's commitment to lead globally impactful sustainability initiatives, starting with our participation in COP28 to demonstrate this commitment," stated Dannif Danusaputro, Chief Executive Officer of Pertamina NRE.
According to a report by the Boston Consulting Group in collaboration with Fairatmos, titled "Climate Technology in Southeast Asia: Key to Unlocking the World’s Carbon Sink," Nature-based Solutions (NbS) can significantly contribute to achieving net-zero emissions, with a maximum mitigation potential of 21.7 Gt CO2e/year, or a 60% reduction in projected emissions by 2030. Indonesia has the potential to contribute 67% of the total carbon credit supply from Southeast Asia.
Through this collaboration, Fairatmos and Pertamina NRE will jointly develop and implement nature-based carbon emission reduction projects. The collaboration will focus on building effective technology in carbon market development. Both parties will explore potential strategic, technical, and commercial collaborations collaboratively to create a mutually beneficial carbon market ecosystem, thereby contributing to a greener environment.
CEO and Founder of Fairatmos, Natalia Rialucky, stated, "The development of high-quality carbon projects is one of our contributions to achieving net-zero emission targets. With Fairatmos’s advantages of remote sensing technology and supporting devices, Pertamina's nature-based solution carbon project can become an outstanding, transparent, and impactful initiative for communities and biodiversity."
The signing of this MoU is a significant step in the efforts of Fairatmos and Pertamina NRE to reduce carbon emissions and contribute to global efforts to combat climate change. Both companies are committed to working closely to achieve their common goals.