Indonesia plans to achieve the net zero emission target by 2060. It plans to increase its greenhouse gas emission reduction target to 31.89% through the document "Enhanced National Autonomous Contribution", and to 43.2% with international assistance. Nick Widyawati, president and director of Indonesia National Petroleum Corporation, said in a recent speech at the COP27 panel discussion held in Sharm el Sheikh, Egypt, that in terms of emission reduction, we have set the goal of reducing carbon emissions by 30% by 2030 compared with the 2010 benchmark.

Petronas Indonesia has successfully reduced 7.4 million tons of carbon emissions in 2021, a reduction of 29.09% compared with 2010. By using more efficient equipment included in the energy efficiency plan, the unconventional emissions during self use fuel and gas supply to customers will be reduced by 69.7%.

In order to achieve the goal of net zero emissions, Indonesia National Petroleum Corporation has formulated an overall strategy: to communicate through the two pillars of decarbonization of commercial activities and the development of new green enterprises; The development of carbon accounting standards approved by national and international laws and regulations, the implementation of internal carbon pricing, and the establishment of a sustainable organization will promote the business of Petronas Indonesia to stay on the development track of the net zero roadmap, and mobilize stakeholders to fully support Indonesia to achieve the net zero emission goals and commitments.

This goal is supported by the company's long-term investment strategy. It is estimated that by 2060, the cumulative capital expenditure of Indonesia National Petroleum Corporation on the green business plan will be about $40 billion, which will be used to develop biofuels, renewable energy, CCS/CCUS, batteries and electric vehicle ecosystems, hydrogen and other businesses.

Petronas accelerates green business development from upstream to downstream through its integrated value chain. The company aims to achieve 60GW of power generation through photovoltaic power generation, hydropower, wind power and geothermal power generation, so as to reach 15% of the country's electricity market share by 2060. With the achievements in emission reduction in 2021, the company has set the ambitious goal of achieving zero net emissions by 2060. Widyawati said that we have the full support of the Indonesian government to help achieve the goal of net zero.Editor/Xing Wentao