TnP Law Firm Supported BNI in a Financing for PT Petrindo Jaya Kreasi Tbk
TnP Law Firm is pleased to have successfully represented PT Bank Negara Indonesia (Persero) Tbk
On 2 August 2023, the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 14 of 2023 on Carbon Trading on Carbon Exchange (“POJK 14/2023”), which came into effect on the date of its issuance. The issuance of POJK 14/2023 constitutes as one of Indonesia’s commitments in addressing climate change that was previously determined in the Enhanced Nationally Determined Contribution of Indonesia that set broad goals of Indonesia on its significant contribution up to 43.20% reduction of emission in 2030 conditionally.
POJK 14/2023 is an implementing regulation of Law No. 4 of 2023 on Development and Strengthening of the Financial Sector, which among other things stipulates that carbon units are considered as securities. In principle, POJK 14/2023 introduces the requirements for carbon units that can be traded on the carbon exchange in the form of certificate or technical approval representing one ton of carbon dioxide which constitutes proof of ownership of such carbon units.
Following the issuance of POJK 14/2023, the Indonesia Stock Exchange (PT Bursa Efek Indonesia or “IDX”) secured a carbon exchange license from OJK through OJK’s Decree No. KEP-77/D.04/2023 dated 18 September 2023. Thereafter, the IDX has issued several decrees to regulate carbon trading on the Indonesia Carbon Exchange (“IDXCarbon”). These include (i) IDX Decree No. KEP-00295/BEI/09-2023 on the Regulation of the Carbon Units Listing on the Carbon Exchange; (ii) IDX Decree No. KEP-00296/BEI/09-2023 on the Regulation of Carbon Units Trading on the Carbon Exchange; and (iii) IDX Decree No. KEP-00297/BEI/09-2023 on the Regulation on Carbon Exchange Users.
In this Client Alert, we are highlighting the key item of carbon trading on the IDXCarbon.
TnP Law Firm is pleased to have successfully represented PT Bank Negara Indonesia (Persero) Tbk
We are delighted to announce that our Partner, Ken Prasadtyo, has been recognized in the
We are thrilled to share that our Partner, Ken Prasadtyo, along with Associate Partner, Brahmantyo
TnP Law Firm is thrilled to announce the successful completion of the equity financing transaction
We’re excited to share that our Partner, Rambun Tjajo was recently contributed as a speaker