Indonesia officially recognizes international carbon standards
- Raphael Der Agopian
- May 15
- 3 min read
Mutual Recognition Agreement signed with Gold Standard
On 8 May 2025, Indonesia’s Ministry of Environment (MoE) took a major step forward by signing a Mutual Recognition Agreement (MRA) with the Gold Standard Foundation, aligning its national carbon market framework with internationally recognized certification standards.
This long-anticipated agreement provides the legal basis for recognizing Gold Standard-certified emission reductions within Indonesia’s national registry system (SRN-PPI). It marks a significant milestone in the implementation of Presidential Regulation No. 98/2021 and Ministerial Regulation No. 21/2022 on the Economic Value of Carbon (NEK).
In parallel, negotiations with Verra are nearing conclusion. Verra’s team is currently in Indonesia to finalize the terms of a similar MRA, which is expected to be formalized in the coming days. This new agreement is expected to closely mirror the one signed with Gold Standard, completing Indonesia’s alignment with the two leading global voluntary carbon standards. It reinforces the country’s commitment to high-integrity carbon recognition and its ambition to become a credible and investable carbon jurisdiction.
What this means for project developers
From both a legal and practical standpoint, the MRA introduces a formal mechanism allowing project proponents to seek certification under Gold Standard, provided they comply with national regulations.
Specifically:
All projects must first register with the SRN-PPI, the national registry managed by the Ministry of Environment and Forestry.
Once approved, projects can proceed with certification under Gold Standard (or Verra), using methodologies formally recognized under the MRA.
Projects that are already registered on SRN-PPI do not need to re-register, but they must still go through a recognition process if they intend to issue internationally recognized credits.
Likewise, credits already issued under Gold Standard (or Verra) do not need to be converted into Indonesian Certified Emission Reductions (SPEI) unless the project is transitioning from the voluntary market to the compliance market — for example, if it is seeking to be listed on the Indonesian Carbon Exchange (IDXCarbon). In such cases, conversion to SPEI will be required in accordance with MoE regulations.
Recognition process and next steps
In the initial phase, the recognition process will be managed manually. A joint technical task force between the MoE and Gold Standard has been established to align methodologies and oversee certification procedures. A similar structure is expected to govern the upcoming MRA with Verra, ensuring consistency across both standards.
As stated by Minister Hanif Faisol Nurofiq:
"The signing of this MRA is proof of Indonesia’s commitment to reducing greenhouse gas emissions and achieving the Nationally Determined Contribution (NDC) target in accordance with the Paris Agreement. By aligning our SPEI system with the globally recognized Gold Standard, we are opening up greater opportunities for Indonesian projects in the international carbon market, as well as attracting investment to support better sustainable development."
Strategic positioning for Apolownia and the BlueRizon project
For Apolownia, and in particular for our flagship BlueRizon mangrove restoration project, this development represents a major breakthrough. Eligible for certification under either Gold Standard or Verra, the project now benefits from enhanced access to international issuance while remaining fully aligned with national compliance requirements.
This positions Apolownia as one of the first project developers operating at scale in Indonesia’s emerging carbon market, a high-potential jurisdiction combining rich ecological value with growing international demand for quality carbon credits.
ABOUT APOLOWNIA
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