On December 16, 2024, Pertamina New & Renewable Energy (Pertamina NRE) signed an amendment to its Carbon Credit Trading Agreement (PPKK) in a strategic move to support Indonesia’s Net Zero Emission (NZE) target. The signing, witnessed by key executives such as CEO John Anis of Pertamina NRE, Director of PT Pertamina Geothermal Energy (PGE) Julfi Hadi, and PT Pertamina's CEO Simon Aloysius Mantiri, marks an important step in Pertamina’s push toward greener energy solutions.

Pertamina NRE has been a driving force in Indonesia’s carbon credit market, especially through its management of carbon credits from its geothermal projects in Lahendong Unit 5&6, located in Tompaso, North Sulawesi. Since the launch of IDXCarbon on September 26, 2023, Pertamina NRE has successfully sold 862,000 tons of CO2e carbon credits from this geothermal project, representing 96% of the country's carbon credit market share. This achievement cements Pertamina NRE’s role as a market aggregator in Indonesia’s carbon trading space.

The company’s latest agreement will see the sale of an additional 390,000 tons of CO2e credits for volume 3. This not only strengthens Pertamina NRE's market dominance but also supports Indonesia’s efforts to achieve NZE by 2060.

CEO Simon Aloysius Mantiri highlighted the importance of Indonesia’s rich renewable energy resources, including geothermal and hydrogen, in accelerating the green energy transition. "We have been blessed with abundant green energy potential in Indonesia, which can contribute significantly to achieving our Net Zero Emission goals," said Simon.

John Anis, CEO of Pertamina NRE, emphasized that the company is not solely focused on geothermal energy. "We are expanding our carbon portfolio to include biogas, gas-to-power projects, and nature-based solutions," he shared. Furthermore, Pertamina NRE has been carbon-neutral in its events, offsetting emissions generated during seminars and gatherings.

PT Pertamina Geothermal Energy’s long-standing experience in carbon credits since 2011, as mentioned by its CEO Julfi Hadi, has positioned the company as a major player in the carbon market. This collaboration with Pertamina NRE enhances their ability to optimize carbon credit potential, making geothermal projects more attractive to investors.

The agreement comes at a time when Pertamina is committed to expanding its role in carbon trading and contributing to Indonesia’s sustainability goals. Fadjar Djoko Santoso, Vice President of Corporate Communication at PT Pertamina, emphasized that Pertamina’s carbon credit trading efforts are crucial to its sustainability strategy. "Our collaboration with various institutions and academic partners will support Indonesia’s NZE goals," he stated.

Pertamina’s efforts align with the Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) principles, which are integrated into all of its operations. Through these initiatives, Pertamina continues to lead Indonesia’s energy transition while playing a pivotal role in the global shift toward sustainable energy.