【Indonesia's Nickel Boom: Balancing Economic Growth with Rising Carbon Emissions】：The expansion of Indonesia's nickel downstream industry is projected to significantly increase carbon emissions, potentially adding 38.5 million tons of CO2 by 2028 due to reliance on coal-fired power plants. A report by the Institute for Energy Economics and Financial Analysis (IEEFA) highlights that four major companies—PT Aneka Tambang (Antam) Tbk, PT Merdeka Battery Materials (MBMA) Tbk, PT Trimegah Bangun Persada (Harita Nickel) Tbk, and PT Vale Indonesia Tbk—plan to increase production, which could dramatically raise greenhouse gas emissions. Antam is currently the largest emitter. If emissions intensity remains the same, these companies could contribute 4.5% of Indonesia's total GHG emissions by 2028. However, this could be reduced by 43% if emissions were lowered to Vale's levels, which uses more renewable energy. Vale records the lowest emissions among the four due to its use of hydropower and biodiesel. Some companies plan to adopt more renewable energy, like Harita's solar power plant, but the report emphasizes the need for accelerated transition away from fossil fuels to balance economic growth with environmental impact.