Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Oil, gas and coal operations · Indonesia · 2015–2025

Pertamina NRE was sole seller on IDXCarbon's opening day in 2023

Short record: the main facts, with sources. A full case file has not been prepared.

Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
  • The record does not name which of my species, waters, soils or forests were harmed.
What the record lacks: 4 none on record · 1 not measured See the gaps

Pertamina NRE was the only seller when Indonesia's IDXCarbon opened on 26 September 2023, selling 459,953 tonnes of credits to Pertamina group companies and a coal contractor. What is at stake for nature is whether such trades reduce emissions, and the sources give no emissions outcome.

What?
Pertamina NRE sold carbon credits on IDXCarbon's opening day in 2023, with buyers including Pertamina group companies.
Where?
Indonesia (IDXCarbon exchange; palm biodiesel sector)
When?
IDXCarbon opened 26 September 2023; biodiesel subsidies 2015 to 2023
Who?
Gained
  • Pertamina group companies — Bought credits on opening day, including Pertamina Hulu Energi, Patra Niaga and Pelita Air
  • Pamapersada — Coal contractor among the opening-day buyers
  • Wilmar — Largest biodiesel subsidy recipient, 56.6 trillion rupiah (2015 to 2023)
Lost
  • Wilmar — Ordered to pay 11.88 trillion rupiah after the Supreme Court overturned its acquittal IDN Financials
Harmed
None on record
Why?
Not stated in the sources reviewed.
How?
Opening-day trades on the IDXCarbon exchange; biodiesel subsidies funded from a palm export levy fund
6 of 6 questions answered from the record

What happened

The record, in order.

On IDXCarbon's opening day, 26 September 2023, Pertamina NRE was the only seller, selling 459,953 tonnes to Pertamina group companies and the coal contractor Pamapersada for 29.2 billion rupiah.

Between 2015 and 2023 Indonesia's palm biodiesel subsidies totalled 179 trillion rupiah, with Wilmar the largest recipient at 56.6 trillion rupiah, according to an Indonesian government biodiesel document.

Judges who had acquitted three of these groups in a palm oil export-permit case were arrested on bribery charges, and the Supreme Court overturned Wilmar's acquittal and ordered 11.88 trillion rupiah paid (IDN Financials).

    In court and with insurers

    Every proceeding and every insurer decision on record.

    Lawsuits and rulings

    1. Overturned on appeal
      Wilmar palm oil export-permit case
      Supreme Court of Indonesia · Criminal · Not stated in sources → Wilmar

      The Supreme Court overturned Wilmar's acquittal and ordered 11.88 trillion rupiah compensation (IDN Financials). IDN Financials

    Insurers

    No insurer decision on record.

    What we don't know

    Undisclosed, unproven, untried: recorded as data.

    Nature

    • Not measured Harm to nature: The record holds no measurement of harm to nature.

    Record

    • None on record The source for the opening-day trade figures is not given with a URL.
    • None on record The arrests of the judges are not tied to a source URL in the sources reviewed.
    • None on record The sources reviewed do not show forest or emissions outcomes from the IDXCarbon trades.
    • None on record The sources reviewed do not state the ownership relations between the buyers beyond the group label.

    Did the harm stop?

    Not stated in the sources reviewed.

    Who paid?

    Not stated in the sources reviewed.

    Sources

    Voices on record: — Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers

    Press and investigations

    Connected cases

    Related matters, and cases linked to this one through the same organisations, with the role each played in both.
    Terms used on this page

    Carbon and conservation finance

    Carbon credit
    A certificate representing one tonne of carbon dioxide (or equivalent) that a project says it reduced, avoided or removed. Buyers use credits to balance their own emissions in climate claims.
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