Indonesia and Singapore join forces to pioneer cross-border Carbon Capture and Storage (CCS) initiatives, aiming for net zero emissions by 2050.
In a significant move towards combating climate change, Indonesia and Singapore signed a Letter of Intent (LOI) to establish cooperation in cross-border Carbon Capture and Storage (CCS). The agreement, signed on 15 February 2024, marks a milestone in the two countries’ efforts to lead environmental responsibility in the Southeast Asian region.
Bapak Jodi Mahardi, Deputy for Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment, emphasized the strategic significance of this initiative, positioning Indonesia as a key player in the Southeast Asian CCS landscape. Pak Mahardi stressed Indonesia’s commitment to leveraging innovative technology for sustainable growth and environmental stewardship.
Mr. Keith Tan, Deputy Secretary (Industry) of the Singaporean Ministry of Trade and Industry, underscored the importance of cross-border CCS as an emerging solution in Asia. Mr. Tan highlighted Singapore’s dedication to transitioning towards a low-carbon future and commended Indonesia’s proactive approach to environmental cooperation.
The LOI solidifies Indonesia and Singapore’s commitment to CCS as a crucial decarbonization method, recognizing its potential to support sustainable industrial activities and foster economic opportunities. This collaboration sets the stage for accelerated implementation of cross-border CCS projects in Southeast Asia, with both countries poised to lead the way in this transformative endeavor.
Moving forward, a joint working group comprising officials from Singapore and Indonesia will collaborate to formalise a legally binding bilateral agreement. This agreement, based on Indonesia’s Presidential Regulation No. 14 of 2024, will facilitate the cross-border transportation and storage of carbon dioxide, laying the groundwork for international carbon storage initiatives in the region.
Source: Antara News
