The Indonesia Stock Exchange (IDX) is planning to develop carbon trading capabilities after entering into a partnership with Metaverse Green Exchange (MVGX), the Singapore-based fintech. Indonesia is seen as one of the few developing economies in the region with the foundations of a carbon trading market. In March 2021, the Indonesian government announced plans to launch an emissions trading scheme by 2025. It has established carbon pricing regulations, and the work of the IDX and MVGX will be seen as a way to further Indonesia’s ambitions to be a hub for green finance. “With a fully operational carbon trading infrastructure in place, businesses and governments will be able to trade carbon credits all while identifying high-quality climate projects,” said Irvan Susandy, IDX director of trading and membership. “This partnership with MVGX will enhance IDX’s capacity and capability to design carbon trading exchange as Indonesia’s efforts toward building a climate-resilient future.” ©2022 funds global asia