Indonesia raises emission reduction goal in bet on EV and biofuel

JAKARTA, Oct 1 (Bloomberg): Indonesia raised its 2030 greenhouse gas emission reduction goal by imposing stronger measures to boost usage of electric vehicles and biofuels.

The fifth-biggest carbon dioxide emitter in Asia pledged to cut emissions by 31.89% against a business-as-usual scenario by 2030, compared with 29% under the previous plan, according to the latest Enhanced Nationally Determined Contribution policy document.

The government is confident that it can achieve the higher target by using more biodiesel, promoting EVs, setting up a carbon market and using forests as carbon sinks.

South-East Asia’s biggest economy submitted the revised plan to a United Nations body on Sept. 23, said the Environment and Forestry Ministry in a statement on Friday.

With international help in funding and technology, Indonesia can even cut its 2030 emission deeper by 43.2%, it said. That’s compared to its previous 41% reduction rate with such assistance.

Meanwhile, Indonesia's parliament on Thursday approved President Joko Widodo's 3,061.2 trillion rupiah (US$200.73 billion) budget for next year, with a fiscal deficit of 2.84% of gross domestic product, the deputy house speaker said.

The economic growth and inflation targets for next year were set at 5.3% and 3.6%, respectively. - Bloomberg

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