Jakarta. Indonesia has formally joined the Coalition to Grow Carbon Markets, becoming the 11th government member of the global initiative, Forestry Minister Raja Juli Antoni said on Tuesday.

Raja Juli said the coalition is committed to expanding the use of high-integrity carbon credits to unlock development financing, support economic activity, and accelerate progress toward global climate goals.

“As the country with the world’s third-largest tropical rainforest, extensive mangrove ecosystems, and vast tropical peatlands, Indonesia has significant natural capital and proven experience in nature-based solutions that can make an important contribution to global efforts to meet climate targets,” Raja Juli said in a statement.

“As a member of the coalition, Indonesia will work with like-minded countries to increase demand for high-integrity carbon credits from the forestry sector and other nature-based solutions, supporting green growth not only for Indonesia but also for the world,” he added.

The coalition is co-chaired by the United Kingdom, Singapore, and Kenya. Other members include Canada, France, Panama, Peru, Switzerland, New Zealand, and Zambia.

Launched during London Climate Action Week in June 2025, the coalition seeks to build international consensus on corporate use of carbon credits through the adoption of the Shared Principles for Growing High-Integrity Use of Carbon Credits, which were introduced at COP30.

The Shared Principles provide a consistent, cross-border framework designed to give businesses greater clarity and confidence to invest in carbon credits as part of credible decarbonization strategies.

The principles are supported by 15 governments and 25 non-state actors, including coalition partners such as the World Business Council for Sustainable Development, the Integrity Council for the Voluntary Carbon Market, the World Bank, the International Chamber of Commerce, and the International Emissions Trading Association, as well as climate, sustainability, and finance organizations, including the Indonesia Carbon Trade Association.