Tech-Driven, Market-Focused: Nol Karbon’s Blueprint for Scalable Carbon Impact

Indonesia’s vast natural resources position it as a key player in the global carbon market. Yet the country’s carbon credit ecosystem remains at a complex crossroads of ambition, regulation, and practical implementation. At the forefront of navigating this evolving terrain is Pera Malinda Sihite, founder of Nol Karbon — a climate enterprise focused on bridging project execution and climate finance across Indonesia’s carbon landscape.

Nol Karbon is a climate-focused venture based in Indonesia, specialising in carbon project development across forestry, agriculture, energy, and industrial sectors. It supports planning, co-financing, sales, and technical execution of carbon credit projects, with an emerging focus on AI-powered environmental data solutions through its new technology arm, Nol Karbon AI.

In this exclusive conversation with CarbonWire, Sihite shares her entrepreneurial journey, the challenges and opportunities within the country’s carbon economy, and why Nol Karbon is positioning itself at the intersection of impact, technology, and market readiness.

From Tech Startups to Sustainability

Sihite’s career began in Indonesia’s fast-growing startup scene in 2015. “I started by building startup incubators and helping entrepreneurs validate their ideas,” she recalls. Her early exposure to diverse industries such as agriculture, health, energy, tourism, and infrastructure set the foundation for what would become a purposeful pivot into climate action.

Her transition into the carbon space began through a hydropower data center project. “It was during that engagement that I discovered renewable energy certificates and carbon credits. The more I explored, there are more than 160 types of carbon credits, the clearer it became that this was an untapped opportunity with enormous potential.”

Recognizing a gap in the market, she founded Nol Karbon to connect landowners and projects with carbon credit mechanisms, a model designed to bring scale and speed to Indonesia’s net-zero ambitions.

The Nol Karbon Model: Impact, Not Hype

Nol Karbon, now two years old, generates revenue through consulting services and the sale of renewable energy certificates. Carbon credit sales, however, remain in the pipeline.

“Most of our projects are at the feasibility stage. International investors are in wait-and-see mode until regulatory clarity emerges on credit ownership and export rights,” says Sihite. With the Indonesian government announcing partnerships with Verra, Gold Standard, and mutual recognition agreements such as the one with Japan under Article 6 of the Paris Agreement, optimism is building.

She notes that pricing isn’t the primary obstacle. “The real challenge lies in the transfer of credits for corresponding adjustments between countries, how credits can be claimed, transferred, and accounted for. The business model also shouldn’t focus solely on carbon credits.”

Navigating a Diverse Portfolio: From Forestry to Biochar

Nol Karbon operates across sectors — forestry, agriculture, energy, and industrial process emissions. So how does it prioritise?

“We look at two things: market appetite and project complexity,” Sihite explains. Forestry projects, for instance, are often challenged by land rights issues, natural risks, and complex community dynamics. In contrast, emerging solutions like biochar tend to involve fewer complications and offer more predictable returns, though the challenges lie in technology readiness and market demand. “We align our project selection with investor interest and internal assessments of ROI — economically, socially, and ecologically.”

When it comes to land access, Nol Karbon uses GIS mapping to identify viable areas —particularly degraded mangrove zones — and then engages either local governments or grassroots communities. “Sometimes, private landowners approach us directly, wanting to explore carbon credits,” she adds.

Recognising the volatility and lag of regulation, Sihite is steering Nol Karbon toward market-led resilience. Her latest venture, Nol Karbon AI, is a bootstrapped subsidiary focused on environmental data intelligence.

“We’re building a SaaS platform using AI to automate environmental assessments and Scope 3 emissions analysis,” she explains. Unlike traditional carbon accounting tools, Nol Karbon AI aims to cater to emerging market needs with agility and scalability.

Beta testing is already underway in Vietnam and Peru, targeting companies that need support with sustainability reporting and green investment decision-making. “The goal is to use AI trained on environmental data to help maximize the value of that data for business and investment purposes,” says Sihite.

Regulation and Carbon Tax: A Work in Progress

Indonesia has begun taking initial steps toward carbon regulation. Coal-fired power plants are already subject to emission limits and must either integrate renewable energy or participate in emission trading. However, broader compliance mechanisms — such as carbon taxes — remain voluntary and are still under discussion.

Sihite believes enforcement is inevitable. “The carbon tax is something we’ve been waiting on for years. Even if it starts at just $2 per tonne, it will begin a shift. We need to follow examples like Singapore to realise the potential of our resources through policy-backed markets.”

She adds that the Indonesian Carbon Exchange (IDX Carbon) has developed scenarios for both compliance and voluntary markets, but the absence of penalties means voluntary markets currently dominate.

Asked about how global geopolitics affect Indonesia’s carbon prospects, Sihite is measured. “Indonesia wants to sell credits and attract green investment. But we also need signals from international stakeholders — especially the US, Europe, and Japan.”

She points to past market collapses, such as the post-CDM crash in 2012, and remains cautious about whether buyers and investors will stay the course amid policy uncertainty. “At the end of the day, the climate crisis won’t wait. Companies and governments will eventually realign their targets and citizens, as well as consumers, will continue to drive demand for climate action.”

For those looking to build impactful ventures in Southeast Asia’s carbon market, Sihite offers a pragmatic yet passionate message.

“There is no perfect policy environment. If you believe in the impact of what you are building, you will find a way,” she says. Her own path, anchored in purpose and adaptability, speaks to that ethos.

“Collaboration beats competition. Technology is the accelerator. If you can integrate both, you can create scalable solutions for climate impact.”