LEGAL ANALYSIS ON PERATURAN PRESIDEN NO. 98 TAHUN 2021: NILAI EKONOMI KARBON (NEK) CARBON PRICING IN INDONESIA

Abstract

This paper analyses Indonesia’s new regulatory framework of carbon pricing, namely Presidential Regulation No. 98 of 2021 on Carbon Economic Value (Presidential Regulation No. 98/2021). The Presidential Regulation is analysed under Law No. 12 of 2011 on the Formation of Legislation). This paper found that even though this regulation has fulfilled all the principles stated in the Law on the Formation of Legislation, many details are left to be regulated (as indeed requested in the Presidential Regulation), and more clarification needed for the roles of each actor and stakeholders in carbon economic valuation and how carbon economic valuation invites public participation