In a landmark event, Induk KUD Indonesia and Verdana International Limited have signed an agreement on Green House Gas (GHG) project management for nature-based solutions. The signing ceremony was held at the Induk KUD headquarters in Jakarta and attended by key executives from both entities, marking a significant step towards sustainable development.
The agreement was signed by Mr. Portasius Nggedi, Chairman of Induk KUD; Asad Sultan, CEO of Verdana International, and Dr. Nasir Latif, Chairman of Capital B. The event was witnessed by members of the Induk KUD executive committee, including Dr. Ferry Julianto, Secretary General of the Induk KUD Board of Advisors.
Induk KUD, known as the Indonesia National Federation of Rural Co-operatives, is the world’s largest agricultural and fishery cooperative. Founded in 1973 and headquartered in Jakarta, it comprises 31 provincial cooperatives, 9,437 township cooperatives, 13.4 million cooperative members, and 60 million family members. Induk KUD operates across 10 million hectares of agricultural land and manages 9,500 agribusiness warehouses. The organization is led by its Chairman, Mr. Portasius Nggedi, and its Chairman of the Board of Advisors, President-elect Prabowo Subianto.
Verdana International is a global carbon asset management and development company that uses digitial technology to simplifiy the validation of carbon footprints. As the world’s only provider of end-to-end UNFCCC CDM compliant digital guardrails for large urban emissions reduction projects, Verdana International now extends this expertise under Induk KUD’s mandate, to large scale nature-based solutions in Indonesia.
The carbon initiatives launched by Verdana in collaboration with Induk KUD, coupled with Induk KUD’s ongoing agricultural projects, are instrumental in supporting national food production in Indonesia. The use of sustainable funding methods, such as green financing and carbon credits, allow Verdana and Induk KUD to potentially help finance national food related programs through Induk KUD’s sustainable programs.
Mr. Portasius Nggedi, the Chairman of Induk KUD, highlighted the organization’s dedication to promoting sustainable agricultural practices and achieving food self-sufficiency in Indonesia and beyond. Asad Sultan, CEO of Verdana International, remarked, “This initiative aligns closely with the President-elect’s agenda to enhance food security, which will necessitate a significant boost in agricultural production and financial investment. Furthermore, by adopting cooperative sustainable strategies, Induk KUD and Verdana International can provide their members with access to international funds while fostering sustainable practices, improving farming methods, empowering local communities, and stabilizing the food supply.”
The partnership aims to reshape Indonesia’s agricultural landscape by leveraging carbon finance to foster food security, environmental sustainability, and economic prosperity. This blueprint holds the potential to transform not only Indonesia but also serve as a model for other regions around the globe.