Jakarta (ANTARA) - Indonesia will raise the issue of reducing carbon emissions during its G20 Presidency, Finance Minister Sri Mulyani Indrawati has informed.
"We will use the G20 Presidency to collaborate and work together because, like the pandemic, climate change cannot be overcome by any country even the largest country," the minister remarked while speaking at an online event held by ADB Institute here on Friday.
Indonesia recognizes that it is vital for the world to prevent the Earth from warming and efforts to do that will require credible programs to cut carbon emissions, she said.
"Indonesia already has a contribution of national determination, but this cannot be achieved alone. We need support from the global community both in the form of financing and technology as well as knowledge," she added.
According to the minister, Indonesia has introduced the carbon tax, carbon market, and forest reserves at the global forum in order to achieve net-zero targets.
The problem of carbon emissions will become so challenging by the middle of this century that a step-by-step design is necessary to lower emissions, she highlighted.
"We need to be able to design an incredible pathway to achieve the commitment, as well as make an agreement to stop funding the new polluting coal plants abroad," she said.
In addition, the world must be ready to address the consequences of reducing carbon emissions, such as the race to provide energy at stable and affordable prices, she expounded.
It is also important to keep the developed countries' promise to grant US$100 billion to developing countries annually for cutting carbon emissions, Indrawati said.
Relating to the private sector, she pointed out that some regulations might have to be made so it can join in tackling the issue of climate change.
"The role of the private sector is also critical, but they will not directly participate in the climate change (program). We need to create policies or even incentives for them to address the issue of climate change," the minister added.