| Abstract |
Pertamina Geothermal Energy (PGE), a subsidiary of PT. Pertamina (Persero) that has registered for five Clean Development Mechanism (CDM) Projects for Lumut Balai Unit 1&2 (110 MW), Lumut Balai Unit 3&4 (110 MW), Ulubelu Unit 3&4 (110 MW), Karaha Unit 1 (30 MW), Kamojang Unit 5 (30 MW), with total potential emission reduction about 2.058 Million ton CO2e/year. Due to the transition phase from Post Kyoto Protocol-2012 give impact in fluctuation of Certified Emission Reduction (CER) price, its consideration for PGE to develop and upgrade PGE’s CDM Projects. PGE found an opportunity to upgrade CDM Project as a Gold Standard scheme. Gold Standard (GS) is a benchmark for Gold Carbon Standard, which is certified credits sell at a premium rate due to their high quality, robustness and sustainable development benefits. Currently, GS has made great market recognition and GS Project is more likely to be eligible for future compliance scheme. GS also has a unique certification process required involvement from local stakeholder and NGOs, where GS supported by more than 80 NGOs worldwide, such as WWF, Greenpeace and CARE International. Now PGE has been developing five geothermal projects for Gold Standard scheme with potential emission reduction about 2.058 million ton CO2e/year. Implementation of Gold Standard scheme become PGE contribution as a real action for Green House Gas (GHG) emission reduction, and complies with implementation of reducing GHG emission for 26% reduction as national target until 2020. Upgrading Gold Standard scheme will improve the price of CER presently to obtain potential revenue for geothermal developer. This paper also has further discussion about implementation of Gold Standard scheme process in PGE, included but not limited to preparation, validation, registration and Monitoring, Reporting & Verification (MRV) plan. |