PGEO - Preparing for carbon credits on carbon exchanges

PGEO - Preparing for carbon credits on carbon exchanges OJK announced that the carbon exchange will be rolled out on September 26, '23 which incentivizes companies to participate in climate change mitigation efforts. Pertamina Geothermal Energy (PGEO) has recorded carbon credit income generated by 2 PLTP, namely Ulubelu Units 3 and 4 and Karaha. Both result in the equivalent of 1.7 mn tons of carbon emission reduction. Currently, PGEO is verifying other PLTP units, such as Lumut Balai, Ulubelu Unit 2 and Lahendong. For trading on the carbon exchange, PGEO plans to involve the Lahendong 5 and 6 PLTP projects which are collaborations with Pertamina Power Indonesia since Apr'23. (Source : Kontan)