Indonesia taps Rubicon for blue carbon

Indonesia has formed a co-investment partnership with Rubicon Carbon to finance blue carbon credit projects by combining public and private capital through a dedicated vehicle. The government will support project development by facilitating land access, permits and engagement with local communities, although financial details were not disclosed. The partnership’s first stage is expected to develop Indonesia’s largest blue carbon mangrove restoration initiative, covering up to 70,000 hectares along Java’s northern coast, with potential expansion following a successful pilot. The initiative supports President Prabowo Subianto’s ambition to generate billions of dollars from carbon credits and revive Indonesia’s carbon sector. Indonesia was previously one of Asia’s largest voluntary credit suppliers before restricting exports in 2022 while reviewing the use of domestic offsets toward its national climate goals.
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