Jakarta. Indonesia has officially launched its Renewable Energy Certificate (REC) trading market in a bid to support the country’s transition toward a green economy and accelerate the adoption of clean energy.

Deputy Trade Minister Dyah Roro Esty Widya Putri inaugurated the REC market in Jakarta on Wednesday. The market is operated by the Indonesia Commodity & Derivatives Exchange (ICDX) under a license granted by the Commodity Futures Trading Regulatory Agency (Bappebti), which is overseen by the Ministry of Trade.

“ICDX has taken a significant step in supporting government programs. REC trading is a strategic and innovative move to advance Indonesia’s commodity market,” Dyah said during the launch.

She added that REC trading will diversify tradable instruments, attract new investors, and strengthen Indonesia’s position in the global green economy.

“The launch of the REC Exchange is a strategic milestone in promoting the use of clean energy and advancing the government’s green economy agenda,” she stated.

The deputy minister also underscored the importance of ensuring transparency, accountability, and efficiency in all REC transactions, urging ICDX to implement robust recordkeeping systems. She also called for greater public outreach to educate businesses and investors about the benefits and mechanisms of REC trading.

ICDX CEO Fajar Wibhiyadi welcomed the launch and reaffirmed the company’s commitment to operating a technologically advanced yet inclusive platform.

“We have built a secure, high-tech infrastructure to support REC trading, and it is already connected with international registries such as Evident I-REC and APX TIGRs,” Fajar said. “We are optimistic that the REC market will continue to grow, especially as the government expands its renewable energy utilization.”

The REC exchange is expected to accelerate Indonesia’s energy transition without disrupting the current electricity supply. It offers a flexible tool for businesses seeking to participate in the renewable energy shift while complying with environmental standards.

Bely Utarja, an energy economist and senior consultant, described REC trading as a positive step toward achieving Indonesia’s national energy mix targets under the National Energy Policy (KEN).

“RECs allow companies to demonstrate their use of renewable electricity without requiring immediate changes to the grid,” Bely said. “It’s also an efficient instrument to fulfill ESG commitments and prepare for upcoming international trade regulations like the carbon border adjustment mechanism.”

RECs certify the generation of renewable electricity from nationally or internationally recognized sources, with one REC representing 1 megawatt-hour (MWh) of clean energy.

The launch of Indonesia’s REC market brings the country in line with global practices, with similar systems already in place in India, Europe, the United States, Australia, Singapore, and Malaysia.