Belem, Brazil, Nov. 18 -- The carbon trading at the Indonesian Pavilion at the 30th United Nations Climate Change Conference (COP30) in Belem, Brazil, had recorded nearly Rp7 trillion (US$406 million) in transactions as of Monday (November 17).

"We have recorded 13.5 million tons of CO2 from our Pavilion to date. Converted to our currency, this is close to Rp7 trillion, a potential transaction that has been signed by both parties," Environment Minister Hanif Faisol Nurofiq said at COP30 on Monday local time.

He further explained that this value comes from the sale of 12 million tons of technology-based CO2 and 1.5 million tons of CO2 from the Forestry and Other Land Use (FOLU) sector and several power generation sectors.

The Indonesian...