Carbon Exchange Trading Rules Amended: POJK 10/2026

Indonesia's Financial Services Authority (Otoritas Jasa Keuangan, OJK) has amended the rules governing carbon trading on the domestic carbon exchange. Peraturan Otoritas Jasa Keuangan Nomor 10 Tahun 2026 tentang Perubahan Atas Peraturan Otoritas Jasa Keuangan Nomor 14 Tahun 2023 tentang Perdagangan Karbon Melalui Bursa Karbon (OJK Regulation 10 of 2026 on the Amendment to OJK Regulation 14 of 2023 on Carbon Trading Through the Carbon Exchange) was signed in Jakarta on 2 July 2026 by the Chair of the OJK Board of Commissioners and takes effect on the date of its promulgation.

Issue

The amendment responds to a change further up the regulatory chain. The elucidation to POJK 10/2026 records that Presidential Regulation 110 of 2025 on the Implementation of Carbon Pricing Instruments and Greenhouse Gas Emission Control replaced Presidential Regulation 98 of 2021, which had served as the reference used when POJK 14/2023 was drafted. With the 2021 presidential regulation superseded, several provisions of POJK 14/2023 no longer matched the rules in force. The stated purpose of the amendment is to realign the exchange rulebook on the recording of carbon units in the Carbon Unit Registry System, trading of carbon units originating abroad, consumer protection, supervision, and reporting.

Key Provisions

Pasal 1 restates the definitions used across the regulation. It defines the Carbon Unit Registry System (Sistem Registri Unit Karbon, SRUK) as the system for providing and managing data and information on carbon units at the level of carbon pricing instrument implementation. A Carbon Unit is the result of emission reduction or absorption certified through a domestic or international certification scheme, or a greenhouse gas emission quota, expressed in tonnes of carbon dioxide equivalent. The definition of an emission quota — the volume of greenhouse gas emissions a regulated installation may release into the atmosphere — sits alongside that of the Greenhouse Gas Emission Reduction Certificate (SPE GRK), which must have passed measurement, reporting, and verification and be recorded in SRUK under a registry number or code. Pasal 3 is likewise amended.

Reporting duties for the carbon exchange operator are set out in the amended Pasal 31. The operator must submit a monthly recapitulation of service-user transactions by the fifth trading day of the following month, and an annual activity report including audited annual financial statements by the end of the third month after the financial statement date. Same-cycle items follow shorter clocks: approvals or rejections of parties applying as service users, changes to organisational structure or systems, and violations by and sanctions imposed on service users are all due by the next trading day, while special events must be reported by the close of the same trading day. Resignations of directors or commissioners, general meeting of shareholders results, and copies of the notarial deed of those meetings each carry a two-working-day deadline. Pasal 31 ayat (2) and ayat (3) allow OJK to designate certain reports that the operator must submit to the relevant ministry, and ayat (4) permits OJK to postpone a director's or commissioner's resignation where the departure could affect the operator's performance and operations.

Pasal 33 sets the enforcement ladder. Parties breaching the listed provisions — among them Pasal 3 ayat (2) and ayat (5), Pasal 7, Pasal 13, Pasal 16, Pasal 24, Pasal 29, and Pasal 31 ayat (1) — face administrative sanctions, as do parties that cause the breach. The sanctions run from written warning to fines, restriction of business activity, suspension of business activity, revocation of the business licence, cancellation of approval, and cancellation of registration. Sanctions other than a written warning may be imposed with or without a prior warning, and a fine may stand alone or be combined with the heavier measures. A new Chapter XA inserts Pasal 35A, which applies the consumer protection principles in OJK's consumer and public protection regulation to every party involved in carbon trading through the exchange, and Pasal 35B, under which OJK may set a policy differing from the regulation on certain considerations.

Implications

Pasal II provides a transition for the registry switchover: carbon exchange operators may facilitate trading of carbon units recorded in the electronic system at the relevant ministry for up to three months after promulgation, until SRUK becomes operational. Operators therefore face a fixed window to migrate recording to SRUK while trading continues, and the reporting calendar in Pasal 31 applies from the effective date rather than from the end of that window.

Regulatory Context

The amendment sits within a wider set of 2026 instruments on carbon pricing, including the rules on forestry-sector carbon trading through GHG offsets and on carbon business licensing in conservation areas. Its sanction ladder mirrors the administrative sequence used elsewhere in the financial sector, such as the conduct requirements applied to underwriters and broker-dealers.

Read the full regulation in the CRPG Law Database.

Methodology: This memo summarises the official regulation text and is not legal advice; report corrections to contact@crpg.info.

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