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Electricity 4.0: Digital Revolution In the wake of escalating climate change, the imperative to transition towards sustainable energy sources has never been more pressing. The emergence of Electricity 4.0, a groundbreaking concept that melds digital innovation with electrical advancements, offers a transformative approach to achieving net-zero emissions. This paradigm shift represents the next energy revolution, where digital and electric technologies converge to pave the way for a sustainable future. Efficiency of Electricity in Green Energy Electricity stands out as a remarkably efficient form of energy, boasting minimal loss during transmission and distribution, especially compared to traditional fossil fuels. This makes renewables, powered by electricity, a cost-effective and promising option for a sustainable future. Harnessing the power of wind, solar, and hydropower has become both environmentally responsible and economically viable. Role of Digital Technologies in Sustainability The integration of digital technologies plays a pivotal role in shaping a sustainable future. Real-time monitoring of energy consumption and emissions allows for greater visibility, reducing waste and increasing efficiency. This is particularly evident in sectors like buildings, where optimizing resource usage through digital solutions has proven instrumental in curbing emissions. The 1.5-Degree Celsius Scenario The 1.5-degree Celsius scenario serves as a crucial milestone in climate change mitigation. It represents an attainable goal, and leading companies are urged to adopt a three-step approach to address it: Strategise: Companies must develop a climate strategy that aligns with science-based targets. Establishing emission baselines and creating a decarbonization roadmap will be the foundation for sustainable practices. Digitise: Adopting a unified energy and sustainability data platform is paramount. This enables the continuous monitoring of resource usage and emissions, identifying saving opportunities and transparent reporting of progress. Decarbonise: Electrifying operations wherever possible, implementing measures to reduce energy consumption, and substituting traditional energy sources with renewables are crucial to achieving sustainability. Conclusion In conclusion, the fusion of digital and electric technologies in Electricity 4.0 holds the key to a sustainable and resilient future. We can combat climate change by strategically integrating these innovations while promoting economic prosperity and social well-being. The urgency of transitioning towards sustainable energy is met with hope and optimism as we embrace a future powered by clean, efficient, and innovative solutions. The time to act is now; together, we can pave the way towards a brighter and more sustainable tomorrow.

Climate Change and Antarctica In the face of an ever-warming climate, two seemingly disparate corners of the Earth - the Western United States and Antarctica - bear witness to dramatic environmental transformations. The vanishing glaciers of the Western United States, meticulously catalogued by researchers from Portland State University (PSU), stand in stark contrast to the unprecedented growth of flowering plants in Antarctica, a phenomenon uncovered by scientists at the University of Insubria in Como, Italy. This integrated article delves into these interconnected narratives, shedding light on the consequences of climate change for these distinct yet intricately linked environments. A Comprehensive Inventory and Unearthing Floral Diversity Led by geology professor emeritus Andrew Fountain and research assistant Bryce Glenn, the PSU team conducted an exhaustive inventory of glaciers and perennial snowfields across the western continental U.S. Their meticulous study, spanning from 2013 to 2020, utilised a combination of aerial and satellite imagery, ultimately revealing the startling reality of glacier loss. Simultaneously, the pioneering research from the University of Insubria in Como, Italy, brought to light the surprising vitality of Antarctica's flora. Contrary to common belief, the continent hosts two species of flowering plants, the Antarctic hair grass and Antarctic pearlwort, which have adapted to thrive in the extreme conditions of their icy habitat. Recent studies have further unveiled an unprecedented surge in their growth rates. Climate Change: A Common Thread The accelerated growth of Antarctic hair grass and Antarctic pearlwort mirrors the rapid decline of glaciers in the Western United States, sharing a common denominator - climate change. As temperatures rise and ice recede, plants and glaciers respond to the changing environment. Warmer temperatures and extended growing seasons provide fertile ground for the flourishing of flora while simultaneously eroding the icy expanse of glaciers. This transformation, though occurring in vastly different ecosystems, underscores the far-reaching impacts of climate change, even in the most remote and inhospitable environments. Impacts Beyond Borders The consequences of these interconnected changes resonate far beyond their respective regions. The dwindling glaciers of the Western United States disrupt the delicate balance of streamflow regulation, rendering watersheds increasingly susceptible to drought and debris flows. Furthermore, the loss of glaciers contributes to rising sea levels on a global scale. Meanwhile, the burgeoning plant life in Antarctica signals broader ecological shifts with potential ramifications for the more comprehensive global climate system. A Collaborative Call to Action The work of PSU researchers, in collaboration with counterparts at the University of Insubria, embodies a collective endeavour to unravel the intricate interplay between climate change and the evolving landscapes of the Western United States and Antarctica. Together, they illuminate the urgent need for global action to address the broader climate challenges that underlie these alarming trends. Antarctica's vibrant floral renaissance and the vanishing glaciers of the Western United States serve as poignant reminders of our swiftly changing world, urging us to act decisively before irreversible damage is wrought upon our planet's most vulnerable ecosystems. Peterson Projects and Solutions Indonesia is a beacon of hope and expertise in these critical environmental challenges. As sustainability consultants, we guide businesses and communities towards a more resilient and environmentally conscious future. Our integrated approach, honed through years of experience, uniquely positions us to address the interconnected issues of glacial decline and burgeoning flora in Antarctica alongside other pressing concerns. If you seek innovative, sustainable solutions tailored to your needs, we invite you to take the first step towards a greener tomorrow. Contact us today, and let us embark on this vital journey together. Your actions today can shape a more sustainable world for generations to come.

Plastics in Agriculture Plastic has become an indispensable tool in modern agriculture, with over 12 million tonnes utilised annually. However, as this versatile material permeates every facet of the agricultural process, it raises critical questions about its environmental consequences. A recent study led by Thilo Hofmann and his international team at the University of Vienna delves into the benefits and risks of employing plastics in agriculture, offering insights into how we can ensure their sustainable use. The Multi-Faceted Role of Plastic: Plastic has become deeply ingrained in our food production systems, playing diverse roles, from safeguarding plants with clamps to shielding them with nets. Mulch films, accounting for roughly half of all agricultural plastics, are particularly noteworthy. They combat weeds and pests, conserve soil moisture, regulate temperature, and enhance nutrient absorption, reducing agriculture's ecological footprint. Preceding mulch films would necessitate an additional 3.9 million hectares of cropland to maintain current production levels in China. The Dark Side of Plastic: Yet, the pervasive use of plastics in agriculture has drawbacks. It poses risks to soil fertility, diminishes crop yields, and raises concerns about the potential infiltration of toxic additives into our food supply. Conventional plastics persist in the environment, leaving residues accumulating in our soils. The ingestion of minute plastic particles by plants is an emerging area of concern, hinting at a potential entry point for plastics into our food chain. A Calculated Transition: Addressing the challenges posed by plastic in agriculture necessitates a strategic approach that emphasises judicious plastic use, efficient post-use collection, and the development of innovative recycling techniques. "In cases where plastics remain in the environment, their design should ensure complete biodegradation. Furthermore, toxic plastic additives must be replaced by safer alternatives," underscores Thilo Hofmann. Bio-based materials hold promise as alternatives; however, their widespread adoption must be done carefully. Hasty shifts to such materials without a comprehensive understanding of their life cycles could inadvertently place additional strain on our ecosystems and food networks. A Path Forward: The proposed measures align with global initiatives like the UN Plastics Treaty (UNEA 5.2), reflecting a collective effort to promote more sustainable plastic use in agriculture. While a complete departure from plastics remains unfeasible, the strategic incorporation of alternatives with minimal environmental impact offers a promising trajectory. Through mandatory monitoring, technological progress, and educational initiatives, we have the potential to curtail our reliance on plastic and mitigate its adverse environmental repercussions. Conclusion: Plastic's role in modern agriculture is a double-edged sword, offering benefits while presenting environmental risks. The study led by Thilo Hofmann and his team underscores the imperative for a calculated and balanced approach. By embracing innovative practices, advocating for responsible plastic use, and nurturing a culture of sustainability, we can forge a path towards a more harmonious coexistence of plastics and agriculture.

Fluctuating FAO Food Price In the dynamic landscape of global food prices, August saw a notable shift in the FAO Food Price Index (CPI), showcasing a 2.1% decrease compared to the previous month. This drop, attributed to various factors, significantly affects the agricultural sector and sustainability efforts worldwide. Diving into the specifics, the CPI decrease was primarily influenced by reductions in price indices for dairy products, vegetable oils, meat, and cereals. Notably, the sugar price index experienced a slight increase, signalling a complex interplay of factors in the market. Noteworthy Trends The Grain Price Index followed suit with a 0.7% decrease, primarily driven by a 3.8% drop in world wheat prices. This trend stems from seasonal sales by significant exporters in the Northern Hemisphere, coupled with record harvests in Brazil and the USA. Meanwhile, the Vegetable Oils Price Index saw a 3.1% decrease, reflecting a drop in base oil prices and reduced palm oil purchases. Sunflower oil prices also experienced an 8% dip due to increased offers from exporters. Dairy Products and Meat Dairy prices saw a notable decrease of 4%, particularly impacting whole and skimmed milk powder prices. This decline was driven by a seasonal supply surge from Oceania and decreased imports in China. The meat price index experienced a 3% drop, with lamb prices being the most affected due to increased export supply. Pork and poultry prices declined due to weak import demand and heightened supply. Rising Sugar Prices Sugar price index showed a 1.3% increase, indicating concerns over global production reductions attributed to the El Niño phenomenon. Deficient rainfall in India and drought in Thailand will impact sugar production in the coming year. Food Price Trends to Sustainable Practices The FAO Food Price Index and sustainability connection are critical for informed agricultural and food industry decision-making. Understanding price trends enables businesses to allocate resources efficiently, build resilient supply chains, and reduce food waste. It also guides adopting of sustainable agriculture practices, influences consumer behaviour towards more eco-conscious choices, and supports ethical sourcing and fair trade principles. Additionally, this knowledge helps businesses proactively address climate-related challenges, ultimately contributing to a more sustainable and resilient global food system. How Peterson Can Help You Achieve Your Sustainable Mission Navigating these price fluctuations is crucial for businesses aligning with sustainable practices. As a leading sustainability consultant services company, Peterson offers tailored solutions to address the challenges posed by the evolving food market. With our expertise, we can assist you in developing strategies that not only adapt to market shifts but also contribute to your organisation's sustainable mission. In a world where sustainability is paramount, partnering with Peterson provides a strategic advantage. Our team of experts is dedicated to guiding you towards sustainable practices that benefit your business and contribute to a more environmentally conscious future. Together, we can navigate the complexities of the food market and propel your organisation towards a greener, more sustainable future. Contact us today to embark on this transformative journey.

Introduction In a significant development at the G20 summit, world leaders have agreed to triple global renewable energy capacity by 2030 while acknowledging the necessity to phase down unabated coal power. However, the summit fell short of setting ambitious climate goals, revealing divisions among the world's major economies. This article dissects the key outcomes and implications of the G20 summit's climate commitments. G20: The Tripling of Renewable Energy Capacity At the heart of the G20 summit's climate discussions was a proposal by Western nations to triple renewable energy capacity by 2030. While this proposal was met with approval from many member countries, including several European nations and the United States, it faced strong opposition from Russia, China, Saudi Arabia, and India during pre-summit negotiations. Despite these divisions, the final declaration adopted by the G20 leaders commits member nations to "pursue and encourage efforts to triple renewable energy capacity globally, in line with national circumstances by 2030." This commitment is a significant step toward reducing reliance on fossil fuels and transitioning to cleaner energy sources. The Challenge of Phasing Down Coal Power The G20's recognition of the need to phase down unabated coal power is a positive development for climate action. However, the declaration leaves room for individual countries to determine the pace of this transition, as it states that "national circumstances" will be factored into the phasing down process. This flexibility may lead to varying degrees of commitment from member nations, with countries rich in coal reserves potentially resisting rapid changes. Lack of Ambitious Greenhouse Gas Emission Reduction Targets One notable omission from the G20 summit declaration is the absence of specific greenhouse gas emission reduction targets. While some Western nations had advocated for a 60% reduction in emissions by 2035, this proposal faced resistance from key players like Russia, China, Saudi Arabia, and India. As a result, the declaration does not contain concrete emission reduction goals. Instead, it reaffirms the commitment to achieving global net-zero greenhouse gas emissions or carbon neutrality "by or around mid-century." This lack of a firm timeline and specific targets raises concerns about the urgency of addressing climate change. Global Implications The G20, composed of countries responsible for over 80% of global emissions, plays a crucial role in the fight against climate change. The outcomes of its climate talks will be closely scrutinized as the world anticipates the upcoming COP28 U.N. climate summit in the United Arab Emirates. The inability to reach a consensus on crucial climate goals highlights the challenges of global cooperation in addressing climate change and raises questions about the effectiveness of future climate negotiations. Supporting Developing Countries The G20 declaration also recognizes the importance of providing low-cost and sustainable financing to developing countries to facilitate their transition to lower emissions. This acknowledgement underscores the need for global solidarity in helping less economically developed nations mitigate the impact of climate change and adopt cleaner energy technologies. Conclusion The G20 summit's agreement to triple renewable energy capacity and phase down unabated coal power represents a step forward in the global effort to combat climate change. However, the absence of specific emission reduction targets and the flexibility afforded to member nations in phasing down coal power raise concerns about the pace and effectiveness of these climate actions. The world will be closely watching as the G20's decisions influence the trajectory of global climate policy in the run-up to COP28 and beyond.

source: Media Center KTT ke-43 ASEAN/Dhoni Setiawan AIPF 2023 — The ASEAN-Indo Pacific Forum (AIPF) 2023 at the prestigious Hotel Mulia Senayan on September 5th and 6th marked a significant milestone in complementing the ASEAN Summit (KTT ASEAN) 2023 agenda. This event, organised in alignment with the ASEAN Outlook on the Indo-Pacific (AOIP) adopted by ASEAN member states in 2019, aimed to fortify an inclusive regional framework, encourage collaborative efforts, strengthen mutually beneficial partnerships, and seize opportunities within the Indo-Pacific region. The AIPF 2023 addressed three pivotal areas of shared interest: Green Infrastructure and Resilient Supply Chains Discussions centred around developing sustainable infrastructure and supply chains to withstand environmental challenges. The forum highlighted the need for innovative approaches to ensure the longevity and effectiveness of such systems. Digital Transformation and Creative Economy Emphasis was placed on the transformative potential of digital technologies and their impact on fostering a creative economy. The sessions explored avenues for harnessing technology to drive economic growth and innovation. Sustainable and Innovative Financing AIPF participants delved into discussions on financing models that are both sustainable and innovative, recognising the importance of investment strategies that support long-term growth while embracing new, forward-thinking approaches. Inclusivity and Collaboration AIPF served as an inclusive platform, bringing together public and private sector leaders from ASEAN member states and partner organisations. This dynamic forum encouraged constructive dialogues, identified tangible project potentials, and promoted collaboration across the Indo-Pacific region. Eminent Speakers and Participants Distinguished speakers, including heads of state and leaders from various industries, enriched the forum with their insights and expertise. The event featured panel discussions and talk shows, offering a platform for thought-provoking exchanges. Furthermore, key industry figures and company leaders were instrumental in the exhibition of projects and facilitating business matchmaking sessions, fostering opportunities for meaningful partnerships and collaborations. Noteworthy Attendees AIPF extended invitations to influential figures from both the public and private sectors and representatives from international financial institutions (IFIs) and global organisations. Among the notable attendees were luminaries from esteemed institutions such as the World Bank, International Monetary Fund (IMF), World Economic Forum, ASEAN-Business Advisory Council (ASEAN-BAC), Maybank, Airbus, Aspen Medical, Forest Carbon Microsoft, Business Council Canada, European Investment Bank, Institute of Public & Environmental Affairs, BP, Asian Infrastructure Investment Bank, US Trade and Development Agency, Loca Laos, Amazon, and Fairatmos. Conclusion The ASEAN-Indo Pacific Forum 2023 is a testament to the commitment of ASEAN member states and their partners towards regional progress and collaboration. AIPF 2023 has set a precedent for inclusive dialogue and cooperative action in the Indo-Pacific region by addressing critical issues and providing a platform for meaningful discussions. The outcomes of this forum are anticipated to contribute significantly to advancing a more resilient, innovative, and sustainable future for all stakeholders involved.

Morocco Earthquake: Morocco is reeling in the aftermath of a devastating earthquake, the most lethal in over six decades, which has claimed the lives of more than 2,900 people and 5,500 injured. The disaster struck late on Friday (9/8/23), shaking the historical city of Marrakech and rippling across the High Atlas Mountains, leaving a trail of destruction. This article sheds light on the challenges faced by survivors, the valiant rescue efforts, and the international support pouring in. Rescue Efforts and Heart-Wrenching Stories: In the village of Amizmiz, near the epicentre, rescue teams are tirelessly sifting through rubble, employing even their bare hands in the hope of finding survivors. Regrettably, for some families, the efforts came too late. Mohamed Azaw, a distressed resident, recounted the frantic moments when he rushed to evacuate his children, unable to extend the same lifeline to his neighbours. Villagers in Asni, 40 km south of Marrakech, face the night outdoors as nearly all their homes have been damaged. Food scarcity compounds their woes, as collapsed roofs have rendered kitchens inaccessible. The search for survivors is underway, with neighbours banding together to rescue those trapped beneath debris. The village of Tansghart in the Ansi area has suffered the most severe impact. Once picturesque houses now bear scars of the earthquake, standing as a stark reminder of the catastrophe's toll on this tight-knit community. Abdellatif Ait Bella, a labourer, lies injured and immobile, his family's future hanging in the balance. International Solidarity: The earthquake's tremors reverberated as far as southern Spain, a testament to its intensity. The World Health Organization reports that more than 300,000 people in Marrakech and surrounding areas have been affected. In response to this dire situation, Turkey, still recovering from its devastating earthquakes earlier in the year, and Algeria, despite diplomatic tensions, have extended their hands in solidarity, offering both support and humanitarian aid. Morocco's Road to Recovery: As the nation observes three days of national mourning, flags fly at half-staff to honour the lost lives. The Moroccan armed forces are mobilising rescue teams to provide essential supplies to affected areas. However, the road to recovery will undoubtedly be long and arduous. The earthquake's shallow depth and the presence of historical masonry buildings have amplified the destruction, reminiscent of the scenes witnessed in Turkey just months prior. Conclusion: As Morocco grapples with the aftermath of this devastating earthquake, the nation stands resilient, drawing strength from its people and the outpouring of international support. The images of destruction, grief, and determination are a stark reminder of the fragility of life and the importance of unity in times of crisis. The path to recovery will be fraught with challenges, but with unwavering determination, Morocco will rise from the rubble and rebuild more vital than ever.

Scientists and environmental groups are increasing pressure on the United Nations to force military forces worldwide to disclose all their emissions and end exemptions, allowing some of their climate pollution to go unrecorded. One of the world's largest fuel consumers, the military accounts for 5.5% of global greenhouse gas emissions. However, they are not bound by international climate agreements to report or reduce their carbon emissions, and the data published by some militaries is considered inaccurate or incomplete. This is because overseas military emissions, from aeroplanes to ships to military exercises, were excluded from the 1997 Kyoto Protocol on reducing greenhouse gases and excluded again from the 2015 Paris Agreement because data on energy use by military forces could threaten national security. Environmental groups and academics are pushing for more comprehensive and transparent reporting of military emissions using research, letter campaigns and conferences in their lobbying efforts. Several groups such as Tipping Point North South, The Conflict and Environment Observatory, and academics from UK universities such as Lancaster, Oxford, and Queen Mary call for all military emissions to be included in a comprehensive global carbon accounting. However, there is currently no sign of a concrete response to this lobbying effort within this year. The UN stated that there are no concrete plans to change guidelines for reporting military emissions, but the issue could be discussed at future meetings, including at the Summit28 in Dubai. Countries such as New Zealand, the United Kingdom and Germany are exploring ways to report their military emissions more accurately. Nonetheless, there are signs that some militaries are preparing for changes in their reporting requirements in the coming years, while others are working to reduce their climate impact. NATO, a Western security alliance with 31 member countries, has created a methodology for its members to report their military emissions. Drones have also helped reduce emissions, as this technology is more energy-efficient than manned aircraft. However, some experts argue that a focus on military emissions could distract governments from regional security issues and slow discussions in the short term. Some militaries argue that publishing details about their oil use will reveal information about their operations overseas. In the meantime, global military emissions will remain elusive, and some experts argue that this gives the military an unfair advantage regarding climate change responsibility. Source: https://www.reuters.com/business/environment/worlds-war-greenhouse-gas-emissions-has-military-blind-spot-2023-07-10/

The aviation industry faces significant challenges in its decarbonization efforts, with plans to pass the cost of this transformation onto passengers, potentially resulting in ticket price hikes. After weathering the Covid-19 pandemic, the sector faces a new threat—shifting towards more environmentally friendly fuels and technologies. Passengers might have to bear additional costs, as approximately $5 trillion of investment is required to achieve carbon neutrality goals by 2050. To attain these targets, the industry must overcome several serious challenges. Sustainable fuel options are priced at least twice as much as regular jet fuel. Furthermore, emerging technologies like electric or hydrogen-powered aircraft require several years to develop commercially. For now, Sustainable Aviation Fuel (SAF) is anticipated to be the primary solution. Generally, SAF is a renewable aviation fuel type that meets sustainability standards. It can be derived from various sources, including forest and agricultural waste, used cooking oil, and eco-friendly hydrogen. SAF is sustainable if its acquisition and production processes do not harm other sectors. In other words, the entire production chain must not adversely affect agriculture, food supplies, water, land, or the environment. The International Air Transport Association (IATA) estimates that SAF has the potential to contribute around 65% of the emission reductions required by the aviation sector to achieve net-zero emissions by 2050. Amidst growing demand, SAF production reached about 300 million litres (240,000 tons) in 2022, according to IATA. SAF production projects are rising thanks to increased investments, supportive policies, and international collaboration. This collective engagement is critical to achieving the target of 10% SAF usage in aviation by 2030. The transformation towards aviation decarbonization requires cross-country cooperation. In 2022, 184 member states of the International Civil Aviation Organization (ICAO) agreed on the Long-Term Global Aspirational Goal (LTAG) to achieve carbon neutrality in the aviation industry by 2050. LTAG uses new and innovative aircraft technologies, operational flight efficiency, and increased production and use of Sustainable Aviation Fuel (SAF). In 2023, the European Union also launched the ReFuelEU Aviation agreement, mandating more fuel suppliers to blend SAF with conventional fuel within the region. Alongside international initiatives, national governments worldwide, including Indonesia, play a crucial role. Governments must design and implement policies that encourage sustainable aviation fuel development, production, and use. In this context, supply-side incentives, like financial or fiscal support, can be effective policy tools in driving organic SAF market growth. For instance, the United States has allocated approximately $3.3 billion to incentivize SAF production through tax credit schemes and grant programs under the Inflation Reduction Act. In Asia, several countries have also begun transitioning to sustainable aviation through government collaboration, projects, and partnership agreements. Besides governmental support, involvement from researchers, businesses, civil society, and other stakeholders is pivotal for significant advancements in sustainable aviation. As a consequence, flight ticket prices are likely to increase permanently. The costs of decarbonization have already started to be reflected in ticket prices within the European Union, and similar measures in other countries will lead to more widespread price hikes. Passengers need to understand that this additional payment is not just a temporary impact but a reflection of long-term investments in sustainable technology and fuel. Beyond cost challenges, the aviation industry also faces the task of producing enough sustainable fuel to meet rising demand. The current availability of Sustainable Aviation Fuel falls far short of what's required to meet the needs of all airlines worldwide. In the coming years, if sustainable fuel technologies and supply don't develop rapidly enough, airlines might be forced to restrict flights to specific destinations or face significant increases in operational costs. Amidst these challenges, the transition towards low-carbon flight is a reality. Despite the cost increase, reducing the aviation industry's environmental impact remains a priority. Passengers need to understand that ticket price hikes are part of the shift towards more sustainable aviation, and supporting this transformation can help create a greener future for global air travel.

Carbon Tax ASEAN Taxation Forum — From August 1-3, the "ASEAN Forum on Taxation" convened, primarily enhancing cooperation and creating a better economic environment within the ASEAN region. This forum served as a platform for member nations to discuss and exchange experiences regarding tax and monetary policies in the region. Under the leadership of Indonesia's Ministry of Finance, represented by Febrio Kacaribu, this forum provided a significant avenue to formulate strategic steps to improve the investment climate, optimize domestic resources, enhance tax bases, prioritize tax fairness, and reinforce economic stability within ASEAN. The theme Indonesia's ASEAN leadership advocated was centred on making ASEAN a resilient and inclusive financial growth centre. The meeting tackled relevant taxation issues, including strengthening the Double Taxation Avoidance Agreements (DTAA) network across the ASEAN region. Additionally, there was a focus on boosting tax-related information exchange under international standards and facilitating tax administration services for investors through online systems. One of the current challenges countries face is the impact of digitalization and the use of crypto assets. In this forum, member countries also discussed the taxation implications stemming from these phenomena. Another significant issue discussed was carbon taxation, which has garnered global attention in efforts to mitigate climate change impacts. Member countries discussed strategies to address this challenge. The forum didn't solely concentrate on general matters; it also featured specialized sub-forums delving into excise tax policies. The Sub-Forum on Excise Taxation (SF-ET) provided a platform for member nations to share experiences and lessons related to taxation, particularly concerning products like tobacco and alcoholic beverages. Countries such as Malaysia, Brunei Darussalam, the Philippines, and Thailand exchanged experiences implementing taxes on sweetened beverages in their respective nations. The importance of adapting to economic and technological trends took centre stage in this forum, especially concerning new products like e-cigarettes. Indonesia and the Philippines shared their experiences in regulating and overseeing such products. In Indonesia, efforts are underway towards implementing taxes on packaged sweetened beverages. Through the ASEAN Forum on Taxation, closer cooperation among ASEAN nations in taxation is hoped to positively impact regional economic stability, providing robust measures to support sustainable economic growth.

Carbon Trading Indonesia — Indonesia, as one of the countries with abundant natural diversity, has a vital role in global efforts to tackle climate change. Carbon trading is one of the instruments that will be used to increase the use of renewable energy and achieve net zero emissions by 2060. The Coordinating Minister for Marves, Luhut B. Panjaitan, ensured that in September 2023, the Indonesian government will start implementing the Indonesian carbon trading mechanism supervised by the Authority Financial Services (OJK). The internal meeting chaired by President Jokowi discussed various essential aspects of carbon trading, which is a strategic step in fighting the climate crisis. 1. Regulation of Indonesia's Carbon Trading Mechanism Supervised by OJK The importance of environmental sustainability and the need to reduce greenhouse gas emissions has prompted the Indonesian government to formulate an effective carbon trading mechanism. In an internal meeting, President Jokowi emphasized the importance of this mechanism being supervised by the Financial Services Authority (OJK). OJK's role will ensure transparency and accountability in carbon trading so that it can become a reliable model for the global carbon trading market. 2. Licensing Arrangements for Concession Areas The meeting also discussed licensing arrangements for concession areas related to carbon trading. This arrangement forms the basis for business actors and companies wishing to be involved in carbon trading so that various activities can be carried out responsibly and following applicable regulations. With precise licensing arrangements, it is hoped that Indonesia can take advantage of the massive potential of carbon storage in the oil and gas sector and develop Carbon Capture and Storage (CCS) as a progressive step to reduce emissions in the industrial sector. 3. Only Indonesian Entities are Permitted, May Not Be Sold to Overseas Exchanges President Jokowi stressed that carbon trading would only involve entities from Indonesia and could not be sold to foreign stock exchanges. This policy aims to maintain and ensure that the benefits of carbon trading are domestic and help promote sustainable economic growth through investment in the renewable energy sector and efforts to reduce carbon emissions. The Government's Role in Determining Carbon Economic Value As a first step, the government has approved a Presidential Regulation on Carbon Economic Value and a regulation from the Ministry of Energy and Mineral Resources (ESDM) regarding the Governance of Carbon Economic Value in the power generation sector. This step is part of an effort to accelerate the preparation of a "carbon price plan" in the agricultural, industrial and transportation sectors with international standards. Determining the economic value of carbon will be the basis for effective and sustainable carbon trading. Peterson Indonesia's Role in Supporting Carbon Certification In dealing with implementing the carbon trading mechanism, which will begin in September 2023, Peterson Projects & Solutions Indonesia is committed to providing support and assistance services in certifying carbon-producing land concessions. Because before carrying out carbon trading, each entity must be certified carbon-producing land concessions. We, Peterson Indonesia, provide services that are oriented towards sustainability and assist companies in Indonesia and worldwide in complying with applicable carbon trading regulations. Conclusion The internal meeting chaired by President Jokowi has highlighted the importance of carbon trading as one of the main strategies for dealing with climate change. Setting up a carbon trading mechanism overseen by OJK, licensing arrangements for concession areas, and a policy involving only Indonesian entities is essential to sustainable carbon trading. With the implementation of this carbon trading mechanism, it is hoped that Indonesia can contribute significantly to achieving net zero emissions by 2060 and become a pioneer in global efforts to fight the climate crisis.

Verra, a leading organization working towards environmental conservation and climate change mitigation, has achieved two significant milestones in developing the latest REDD (Reducing Emissions from Deforestation and Forest Degradation) methodology. This draft publication includes guidelines and standards for measuring, reporting, and verifying emission reductions. Milestone 1: Updated REDD Methodology Draft The first milestone involves the release of the updated REDD methodology draft, which encompasses essential revisions to enhance the measurement and verification of emission reductions. The critical updates are as follows: Exclusion of Wetlands from REDD Eligibility: Wetlands will no longer qualify as REDD projects. This decision aligns with preventing forest degradation and aims to focus solely on reducing greenhouse gas emissions (GHGs) from deforestation. Accelerated Project Renewals: Projects will be permitted to update to the next baseline validity period more expeditiously than required by the VCS v.4.4 (Verified Carbon Standard) standard. This flexibility aims to support ongoing efforts in tackling deforestation and climate change. Transitioning from VM0009 to Updated Methodology: Specific provisions have been introduced for projects transitioning from the VM0009 methodology to the newly updated version. This facilitates a smooth and efficient shift, encouraging existing projects to adopt the improved guidelines. The updated REDD methodology's primary goal is to reduce GHG emissions and prevent forest degradation. Setting clear standards and guidelines will aid stakeholders in planning new REDD projects or transitioning existing ones effectively. Verra aims to finalize the consolidated version of the updated REDD methodology by the first Q4 of 2023. Milestone 2: Commencement of Deforestation Activity Data Collection Process The second milestone pertains to initiating the data collection process for deforestation activities. Verra has decided to adopt crowdsourcing as the primary means of gathering data on deforestation from various regions. Previously, data from other sources were used to estimate future deforestation. With this update, Verra ensures that forest conservation credits are issued based on Verra's VCS, incorporating more accurate and up-to-date data. The specific objectives of this data collection process are: Establishing Baseline Deforestation Measurements: A baseline will be confirmed by collecting data on deforestation activities. This serves as a reference point to gauge future progress and reductions in deforestation rates. Understanding Current Deforestation Status: The data collected will provide insights into the present state of deforestation in specific areas, enabling informed decision-making and targeted conservation efforts. Setting Reference Points for Future Measurements: The data collected will serve as reference points for measuring progress in reducing deforestation in the future. Ultimately, the overarching goal is to protect forests from deforestation, which is critical in mitigating global warming and climate change. As part of their plan, Verra aims to engage more than 40 regions in participating under the VCS to strengthen global efforts towards REDD and sustainable forest management. In conclusion, these two critical milestones achieved by Verra mark significant progress in the advancement of REDD technology. The updated methodology and the adoption of crowdsourced deforestation data collection promise more effective and accurate strategies to conserve forests, mitigate climate change, and safeguard the planet for future generations. With these advancements, stakeholders and policymakers can make better-informed decisions to combat deforestation and reduce greenhouse gas emissions effectively.