JAKARTA - The Ministry of Finance has budgeted Rp 89.6 trillion, 3.9% of the State Budget, every year since 2016 to tackle climate change, said Finance Minister Sri Mulyani Indrawati.
According to Ms Indrawati, the policy is part of the government's effort to achieve the Nationally-Determined Contribution (NDC) target of lowering greenhouse gas emission by 29% by 2030.
"Indonesia has committed a very large amount to achieve the NDC target, and thus the Ministry of Finance has developed its climate budget tagging," she said at a press conference on Thursday (27/8) as quoted by Antara.
Through the annual budget, Ms Indrawati, said, Indonesia has been funding 34% of the total climate change financing target of Rp 3,461 trillion or Rp 266.2 trillion per year.
The financing target is an international commitment to fight climate change as stipulated in the 2016 Paris Agreement, amounting to US$100 billion per year until 2020.
"The Ministry of Finance is committed to supporting all ministries and government agencies [in reducing carbon footprint], including Ms [Environment and Forestry Minister] Siti [Nurbaya Bakar] and her ministry," Ms Indrawati said. (MS)