Ecobiz.asia – Indonesia and Verra have signed a Mutual Recognition Agreement (MRA) that establishes mutual recognition between Verra-issued Verified Carbon Units (VCUs) and Indonesia’s Emission Reduction Certificates (SPEI), a move expected to expand the country’s access to climate finance while ensuring the integrity of its carbon markets.
The agreement was signed online on Friday (October 3, 2025) by Verra’s Chief Executive Officer Mandy Rambharos from Washington and Indonesia’s Deputy Minister for Climate Change and Carbon Governance, Ary Sudijanto, from Jakarta. The signing was witnessed by Environment Minister Hanif Faisol Nurofiq.
Through the MRA, projects in Indonesia registered under Verra’s Verified Carbon Standard (VCS) Program can also be recorded in Indonesia’s national registry system, SRN-PPI.
While VCUs will continue to be issued and managed in Verra’s registry, essential project information will be mirrored in SRN-PPI, enabling the Indonesian government to maintain oversight of its climate mitigation actions and its Nationally Determined Contributions (NDCs) under the Paris Agreement.
“This agreement marks an important shift toward collaboration and mutual recognition in the interest of global climate action that benefits the planet and people,” Rambharos said. “Indonesia is poised to lead Southeast Asia in generating high-integrity carbon credits, and we are honored to partner with a government that is building a carbon market reflecting both national priorities and global sustainability goals.”
Ary Sudijanto emphasized the significance of the deal in aligning global and national systems.
“This partnership is an important milestone in harmonizing climate efforts. It will enhance the integrity of our carbon markets, strengthen sustainable development, and accelerate our path toward meeting climate targets,” he said.
Key features of the agreement include dual registration for projects with Verra’s VCS and SRN-PPI, interoperability between registries for information sharing, and the possibility of authorizing VCUs for use under Article 6 of the Paris Agreement.
Credits intended for the voluntary carbon market will not require Article 6 authorization but may still need government approval.
Verra and the ministry will jointly prepare a Technical Guidance Document to detail the MRA’s operational requirements for project proponents.
The deal adds to Indonesia’s previous MRAs with Gold Standard, Global Carbon Council (GCC), and Plan Vivo, reinforcing its ambition to develop a comprehensive, high-integrity carbon trading ecosystem. ***
