Market Chatter: TPG Fund-Backed Rubicon Carbon Partners With Indonesia on Blue Carbon Projects

MT Newswires Live08-07 18:13

TPG (TPG) Rise Climate fund-backed Rubicon Carbon has partnered with Indonesia's government to finance blue carbon projects through a dedicated co-investment vehicle, Bloomberg reported Friday, citing Indonesia's Minister of Marine Affairs and Fisheries, Sakti Wahyu Trenggono.

The first phase is expected to cover up to 70,000 hectares along northern Java's coast, potentially becoming Indonesia's largest blue carbon mangrove restoration project, the report said.

Bloomberg said Indonesia will support the projects through land access, permitting and engagement with local communities.

Financial terms of the partnership were not disclosed, Bloomberg reported.

The partnership is aimed at expanding Indonesia's carbon credit market and supporting future carbon trading under Article 6 of the Paris Agreement, it said.

Rubicon Carbon did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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