Ecobiz.asia – After lengthy negotiations, Indonesia’s Ministry of Environment (KLH) and carbon certification body Verra have reached an agreement to sign a Mutual Recognition Agreement (MRA) that will establish mutual recognition between Verra-issued carbon credits and Indonesia’s Emission Reduction Certificates (SPEI).
The MRA will be signed on Friday, October 3, 2025.
“This step will strengthen Indonesia’s competitive edge with high-quality carbon credits,” Environment Minister Hanif Faisol Nurofiq said at the Ecosystem Restoration Forum on Peatland and Mangroves in Jakarta, Thursday (October 2, 2025).
The deal with Verra follows earlier MRAs with Gold Standard, Global Carbon Council (GCC), and Plan Vivo. Gold Standard and GCC are technology-based schemes, while Plan Vivo and Verra focus on nature-based approaches.
Hanif said the agreements mark Indonesia’s success in building a complete ecosystem for voluntary carbon markets.
According to Hanif, Verra has already registered 3 million tons of carbon credits from Indonesian forestry projects, with another 15 million tons in the pipeline to be issued. “These will be announced at the MRA signing,” he added.
Hanif emphasized that Indonesia’s forest carbon credits deserve a premium price due to the country’s extraordinary biodiversity. “Our carbon should not be undervalued compared to Europe. There they have fewer than 50 tree species, while we have immense biodiversity,” he said.
The minister also urged local carbon project developers to uphold integrity and avoid fraudulent practices. “Do not issue fake certificates, as it will undermine the value of Indonesia’s carbon,” Hanif warned. ***
