Indonesia’s international auction – questionable carbon credits

Indonesia’s Carbon Exchange (IDXCarbon) on 20 January hosted its first international transactions, offering carbon credits advertised as "correspondingly adjusted" and therefore usable by governments and other entities to meet Paris Agreement climate targets. However, the lack of key documents, such as Letters of Authorisation (LoA) or other “proof” that the country will deduct the mitigation from its own tally toward meeting its Paris target, renders those claims invalid. The product of old renewable energy projects, these credits do not fit the definition of internationally transferred mitigation outcomes (ITMOs) for use in counting toward greenhouse gas reduction targets.