South Korea and Indonesia signed a memorandum of understanding (MoU) that would help incentivising carbon emissions produced by companies from both countries. The information was shared by senior Indonesian minister Airlangga Hartarto in a statement.
In the statement, the minister said, “Through the deal, companies are urged to collaborate in projects that could reduce carbon emission in Indonesia and in return, both countries would get carbon credits from ventures operated by those firms.”
The statement further said that the projects will get financial support from South Korea’s Trade, Industry, and Energy Ministry.