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The State Administrative Court of Jakarta (the Court) has ruled in favor of PT Rimba Raya Conservation, declaring the Government of Indonesia’s revocation of the Forest Utilization Business License for the Rimba Raya project (the Project) void, according to a recent statement from Carbon Streaming Corporation. Although the ruling is subject to a 14-day appeal period, and as such does not yet have permanent legal force, the Court’s interlocutory decision allows activities on the project to resume immediately. Rimba Raya project. The Project is a REDD+ project registered with Verra that seeks to reduce emissions from deforestation and forest degradation. Since 2013, Rimba Raya has issued over 30 million credits, with more than 25 million of these already retired, making it the world’s largest single source of carbon credits. In Indonesia, entities developing nature-based carbon projects like the Project require a government-issued concession license to trade generated carbon credits. The license is revocable if local regulations are violated. PT Rimba Raya Conservation, the original license holder and project owner, partnered with InfiniteEARTH, the project developer registered under Verra and Indonesia’s national carbon registry, Sistem Registri Nasional (SRN). On March 2, 2024, the Indonesian government announced the revocation of the Project’s license, leaving uncertainty about its future. Remaining uncertainties. Carbon Streaming, a Toronto-based investor, had assessed the fair market value of its investment in the Project to be nil due to the revocation of the license. The Project’s future likely remains uncertain at this time, but the company has said that it will re-evaluate the fair market value of the Rimba Raya stream in the event there is a change in the facts and circumstances surrounding the Project, the revocation of the license and, the Indonesian national carbon emission regulations. For further information or to discuss the contents of this bulletin, please…