UMBRA Advises on Indonesia’s First Carbon Credit Transaction Under Article 6.2 of the Paris Agreement
Congratulations to PT PLN (Persero) and the Global Green Growth Institute (GGGI) on the successful signing of the landmark Mitigation Outcome Purchase Agreement (MOPA) at the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye, on 11 November 2026.
The signing marks a historic milestone as Indonesia’s first MOPA under Article 6.2 of the Paris Agreement, paving the way for international carbon trading cooperation between Indonesia and Norway. Supported by the Norwegian Article 6 Climate Action (NACA) Fund, the agreement represents a major step towards mobilizing international climate finance to accelerate Indonesia’s energy transition and renewable energy development.
The MOPA supports the implementation of Indonesia’s Generation-Based Incentive (GBI) Program, an innovative results-based financing mechanism designed to encourage investment in new and additional renewable energy generation, initially focusing on solar photovoltaic projects. Through this mechanism, verified emission reductions can be transferred internationally, creating new opportunities to unlock financing for clean energy projects while supporting Indonesia’s decarbonization objectives.
Led by Kirana Dyah Sastrawijaya, with support from Angela Vania Rustandi, Diandra Nitisara Murtadlo, and Mutiara Rinaldi, UMBRA is honoured to advise this landmark transaction, contributing to the development of one of Indonesia’s pioneering international carbon market arrangements under the Paris Agreement.
We are grateful for the continued trust in UMBRA and are proud to support its commitment to advancing Indonesia’s energy transition and participation in the global carbon market.
Read more in relevant articles below:
– https://gggi.org/indonesia-accelerates-energy-transition-with-landmark-carbon-market-agreement-at-cop31/
– https://www.thejakartapost.com/business/2026/11/12/indonesia-norway-strike-carbon-credit-deal-at-cop31
– https://kemenlh.go.id/news/detail/kabar-baik-untuk-transisi-energi-indonesia-kerja-sama-pasar-karbon-dengan-norwegia-berlanjut-di-cop31-turkiye
– https://www.kompas.id/artikel/indonesia-and-norway-agree-on-carbon-funding-for-the-100-gigawatt-solar-power-project?open_from=English_Page
– https://www.energymonitor.ai/news/indonesia-carbon-agreement-norway-cop31/
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Kirana D. Sastrawijaya
Senior Partner
