Prabowo eyes US$65bil from carbon credits

Sustainable economy: Prabowo, who will be inaugurated on Oct 20, has pledged to boost growth to 8% during his five-year term, from 5% now, including through investment in green projects. — AFP

JAKARTA: President-elect Prabowo Subianto plans to launch a green economy fund by selling carbon emission credits from projects such as rainforest preservation, aiming to raise US$65bil by 2028, an adviser told Reuters.

A new regulator for carbon emission rules will be established to oversee efforts to reach Indonesia’s emissions targets under the Paris agreement, said Ferry Latuhihin, one of Prabowo’s advisers on climate policies.