- Indonesia has committed to achieve carbon neutrality by 2060, or sooner.
- Studies have shown that mangrove forests absorb 4 to 5 times more carbon emissions than other tropical forests.
- Jakarta aims to restore 150,000 hectares of degraded mangroves this year, continuing with its commitment to restore 1.5 million acres by 2024.
Indonesia, which aims to reach carbon neutrality by 2060 or sooner, is also drafting up a regulation to open mangrove restoration for investors to help fund the programme.
Jakarta, Indonesia aims to restore 150,000 hectares of degraded mangroves this year, after rehabilitating about a quarter of this total last year when funds had to be diverted from the state budget to tackle the coronavirus pandemic, officials said.
The Southeast Asian nation, which has huge tracts of mangroves, launched a programme last year to restore 600,000 hectares (1.5 million acres) of degraded mangrove by 2024 to help absorb carbon emissions.
"Some studies have shown that mangrove forests can absorb four to five times more carbon emissions than landed tropical forests," Environment and forestry minister Siti Nurbaya Bakar told a briefing.
Southeast Asia's largest economy, which is also the world's largest archipelago country, aims to reach carbon neutrality by 2060 or sooner.
Last year, 34,911 hectares were restored at a cost of 690 billion rupiah ($48.07 million), but for 2022 the allocated budget should rise to 3.2 trillion rupiah, said Hartono, head of Peatland and mangrove restoration agency, speaking at the same briefing.
The environment and forestry ministry is drafting up a regulation to open mangrove restoration for investors to help fund the programme.
($1 = 14,355.0000 rupiah)
What's the World Economic Forum doing about mangroves?
The Mangroves Working Group, led by Friends of Ocean Action in collaboration with 1t.org, aims to raise ambition and deliver action towards the conservation and restoration of mangrove forests, by enabling companies and investors to enhance the blue carbon market with support from non-profit leaders and experts.
Objectives include delivering actions towards the group’s ambition, knowledge sharing and capacity-building among members, connecting investors with projects, and, ultimately, enabling the flow of more blue carbon credits into the voluntary carbon market.
How can you get involved?
We are currently seeking corporate members to join this working group and engage in thought leadership, working group meetings, public speaking opportunities, and other activities to elevate the agenda of mangrove conservation and restoration. Please contact us for more information.