Indonesia Opens Its Carbon Market: Opportunity, Momentum, Action

Indonesia has launched a new chapter for carbon finance. With Perpres 110/2025 establishing a modern, digital-ready national carbon architecture and fresh Mutual Recognition Agreements (MRAs) with leading international standards including Verra, Gold Standard, Plan Vivo and GCC Indonesia is now strongly positioned to connect domestic climate action to global demand. 

This is more than regulation, it’s an invitation. Perpres 110/2025 creates a dual registry architecture, a clear framework for international trades, and a cross-ministerial governance structure designed to accelerate climate investment and scale high-quality carbon projects.

MRAs: The Fast Track to International Confidence

Two headline agreements anchor Indonesia’s new openness:

1. Verra MRA (3 October 2025)

On 3 October 2025, Indonesia and Verra formally entered into an MRA—this marks a significant milestone in integrating Indonesia’s carbon economy with global standards. 

Highlights:

• Projects may register concurrently in Verra’s VCS program and in Indonesia’s SRN-PPI registry. 

• VCUs issued under Verra remain in the Verra Registry, but selected project and credit metadata will be mirrored into SRN-PPI. 

• The agreement ensures that Indonesia maintains oversight of emissions accounting tied to its NDC, while allowing projects access to international markets. 

• Verra and Indonesia will co-develop Technical Guidance Documents to flesh out registry interoperability, procedural alignment, and governance protocols. 

• Market watchers expect that supply from major REDD+ projects, previously held back due to moratoria, could be revived under this structure. 

Fastmarkets notes that this arrangement could pave the way for Indonesia to unlock previously constrained REDD+ carbon credit supply into the global voluntary market. 

2. Gold Standard MRA & Pilot Work

Indonesia’s MRA with Gold Standard predates Verra’s, and continues progressing into the implementation phase.

• Gold Standard has begun issuing detailed implementation guidance and launching pilot programs to test registry linkage and methodology harmonization.

• These pilots will help validate the mapping between project validation/verification under Gold Standard and Indonesia’s registry system. 

3. Global Carbon Council (GCC) 

Indonesia’s partnership with the Global Carbon Council (GCC) expands access to carbon projects across renewable energy, waste management, and industrial efficiency.

• The MRA focuses on technical interoperability and reciprocal credit recognition.

• GCC-verified credits can now be mirrored in Indonesia’s SRN registry, increasing liquidity and cross-market trade potential.

4.  Plan Vivo 

The MRA with Plan Vivo Foundation strengthens opportunities for community-based and nature-based projects.

• Facilitates recognition of Plan Vivo Certificates within Indonesia’s national system.

• Supports local forest communities and smallholders to access international buyers and finance.
  
  

Together, the MRAs with International Standards create a dual pathway: projects can maintain international credibility and standards while being tracked and authorized within Indonesia’s national climate system.

What Perpres 110/2025 Enables

Perpres 110/2025 sets the stage for a modern carbon economy in Indonesia by establishing:

• Dual national registries (SRN-PPI & SRUK) that support registration of mitigation actions and tradable carbon units. 

• A legal framework for international trade, including clear mechanisms for credits that require corresponding adjustments and credits used in voluntary markets. 

• A cross-ministerial steering structure that aligns climate action with fiscal and market policy, signaling national commitment to long-term carbon financing. 

These design choices create predictable, bankable pathways for credits, which translates to investor confidence, stronger demand, and faster flows of climate finance into Indonesia. Here’s a side-by-side comparison to highlight how Perpres 110/2025 transforms Indonesia’s carbon market framework:

Feature	Under Perpres 98/2021	Under Perpres 110/2025
Carbon pricing & NEK basis	Initial framework, limited enforcement	Full legal architecture for NEK implementation, trade, oversight
Registries	Single national registry (less function on units)	Dual registry system: SRN-PPI + SRUK (unit registry)
Export / international trade	Largely restricted, moratoria	Clear provision for credit export, cross-border trade, and corresponding adjustments
Standard recognition	Implicit / ambiguous	Explicit MRA mechanism & registry interoperability with International Standards
Voluntary carbon (VCM)	Low clarity, peripheral	Explicitly recognized, integrable via registry and MRAs (see Minister’s explanation)
Institutional coordination	Fragmented	Strengthened cross-agency governance, clearer roles

This leap underscores that Perpres 110/2025 is not a tweak but a full system upgrade  from exclusion to inclusion, from silo to integration, from uncertainty to clarity.

VCM Under Perpres 110/2025: Minister’s Explanation & Market Openings

Minister Hanif Faisol Nurofiq has publicly explained key dimensions of how VCM fits into the new regulation:

• Voluntary credits are valid and welcomed under 110/2025, provided they satisfy registry, verification, and oversight requirements. 

• Credits certified by international standards (e.g. Verra, Gold Standard) can interface via MRAs, enabling those credits to enter national registries with regulatory alignment. 

• Importantly, VCM activity is not held hostage to reaching national emissions targets  voluntary projects may run in parallel and complement compliance schemes.

• The Minister framed VCM as a vehicle to bring private capital, innovation, and local project scaling, pushing for climate finance flows into mitigation, restoration, and removal across Indonesia.

In sum: VCM is no longer peripheral, it is now a formal, integrated component of Indonesia’s climate finance architecture.

Why This Is Big For Buyers & Project Owners

• Buyers can access Indonesian credits that carry the label and verification of global standards (Verra, Gold Standard) while being officially recorded in Indonesia’s SRN, combining international trust with national oversight. 

• Asset owners can design its forest conservation or restoration effort to align with global methodologies, register in parallel with the national registry, and tap both domestic and international markets. 

• Investors & project developers benefit from clearer legal architecture and registry interoperability that support scalable, transparent trades.
  
  

In short: the market is now built to grow and to connect Indonesian climate solutions with buyers worldwide.

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Ready to Act? Fairatmos Can Help -  Simple, Fast, Trusted

As Indonesia’s carbon market opens, Fairatmos offers two focused solutions to help you move confidently:

• AtmosFund - For Buyers: Explore and purchase high-integrity carbon credits that are compatible with the new MRAs and Indonesia’s registry. AtmosFund curates verified supply and simplifies procurement so you can meet sustainability goals with confidence. Explore Projects Here: ATMOSFUND

• AtmosCheck - For Asset Owners: Get project-level support to align with Verra or Gold Standard methodologies, register in SRN-PPI/SRUK in parallel, and manage MRV and registry submissions with technology that reduces friction and speeds time-to-market. Register Here: ATMOSCHECK

Take the next step, partner with Fairatmos to turn Indonesia’s carbon market momentum into real climate impact and strategic value for your organization.