Verra to Issue First Credits Under Indonesia’s New Carbon Market Regulations

Verra is preparing to issue at least 20 million carbon credits to three Indonesian forestry projects under the country’s updated carbon market regulations. The projects are Katingan Peatland Restoration and Conservation (VCS 1477), Sumatra Merang Peatland (VCS 1899), and The Mayas Project (VCS 3591). All three have fulfilled the applicable regulatory requirements and received approval from Indonesia’s Ministry of Forestry. Forestry projects must obtain ministry approval before Verra can approve their verified emission reductions and issue the corresponding credits. Indonesia will also track the issued credits through its domestic registry for national reporting. Verra and Indonesian authorities are developing an API connection between the Verra Registry and the national registry to enable data sharing, regulatory oversight and interoperability.
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