27/09/2023 (Jakarta, Indonesia) - The Indonesia Stock Exchange (IDX), the sole exchange in Indonesia, has onboarded ACX (AirCarbon Exchange) as the primary technology provider for its official carbon exchange, IDXCarbon. The announcement comes after a comprehensive Request for Proposal process.
IDXCarbon, which commenced trading on 26th September 2023, is pivotal in Indonesia's commitment to curtailing carbon emissions and propelling the nation towards achieving net zero emissions by 2060.
Iman Rachman, President Director of IDX, remarked, "With ACX support, IDXCarbon has reached a pivotal point in our journey towards net zero by 2060 or sooner. Our collaboration with ACX promises innovation and success for the burgeoning Indonesian carbon market."
Customizations to IDXCarbon have been executed by ACX to harmonize with Indonesia's specific needs and to align with institutions like the National Registry System for Climate Change Control (SRN-PPI). This ensures the exchange complies with Indonesia's protocols, as well as regulations set by the OJK, the nation's financial oversight body. ACX's comprehensive solution, underpinned by blockchain, ensures transparent and verifiable transactions on IDXCarbon, reinforcing transparency, accountability, and efficacy in Indonesia's carbon market.
Thomas McMahon, co-CEO and co-Founder of ACX, expressed, "It's an honor to contribute to Indonesia's vision of a just and inclusive carbon ecosystem. Our holistic solution will streamline access to the carbon market for businesses, promoting Indonesia's carbon reduction and aiding global sustainability pursuits."
Highlighting the significance of the venture, Hum Wei Mei, Head of APAC and Global Head of Environmental Products, stated, "Indonesia is at the forefront of global climate initiatives, and IDXCarbon is central to this mission. ACX, as IDXCarbon's tech provider, is devoted to crafting a distinctive, top-tier carbon exchange that will bolster Indonesia's aspirations in emissions trading and climate action."
With operations spanning Asia, Middle East, Europe, and the Americas, ACX's proven expertise in designing and rolling out carbon trading systems worldwide makes it a reliable partner for trading environmental assets.