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Indonesia Opens Up to Carbon Capture and Storage Investment


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  • 15 Sep 2023
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Indonesia Opens Up to Carbon Capture and Storage Investment

Indonesia is positioning itself as a significant player in the carbon capture and storage (CCS) sector, welcoming technology and investments to develop this industry within its borders. The Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, revealed at the International and Indonesia CCS Forum 2023 that global investment in CCS has reached USD6.4bn, with Asia contributing USD1.2bn. Indonesia, with an estimated carbon storage potential of 400 gigatons, is ready to become a major player in this field, offering substantial business opportunities to domestic and international investors. As industrial growth in the region increases its carbon footprint, addressing emissions has become a top priority. Indonesia sees significant potential in industrial carbon capture and storage (ICCS) development, thanks to available resources such as CO2 storage sites and industrial facilities, along with partnerships with East Asian industries in international carbon transportation. The country aims to foster collaboration and knowledge sharing to position itself as a global leader in CCS technology for emissions mitigation.

Source: ESGNewsasia