Indonesia needs 13.3 billion USD to cut emissions in forest and land use (Photo: news.mongabay) Jakarta (VNA) - Indonesia requires 204 trillion IDR (13.3 billion USD) in funding to cut emissions in the forest and land use sector and increase carbon absorption to meet the 2030 Forestry and Other Land Uses (FOLU) Net Sink goal.
The director general of sustainable forest management at the Environment and Forestry Ministry, Agus Justianto, said that the policy aims to achieve a greenhouse gas emission level of minus 140 million tonnes of carbon dioxide equivalent.
According to Justianto, funding to support Indonesia's 2030 FOLU Net Sink climate mitigation actions may come from domestic and foreign carbon markets, the state budget, regional budgets, private investment, domestic and foreign grants, and other funding sources.
In addition, funding from the result-based payment scheme for REDD , which is now being compensated through international and sub-national cooperation schemes, may also support the policy.
The 2030 FOLU Net Sink carbon emission reduction policy outlines four main strategies: preventing deforestation, supporting conservation and sustainable forest management, protecting and restoring peatlands, and increasing carbon absorption, he explained.
He further said that the problem of climate change is threatening human life because of continued greenhouse gas emissions from various sources such as industries, forest fires, modes of transportation, and fossil fuels, among others.
These have been linked to a rise in temperatures, climate anomalies, rise in sea levels, natural disasters, and water, energy, and food scarcity. These problems are occurring not only at the local and national levels, but also at the global level, Justianto noted.
He emphaised Indonesia certainly needs a strong foundation, especially to protect the environment and climate. This requires support and contributions from all parties across generations, across disciplines, and across sectors./.
