Is carbon dioxide causing Jakarta to sink 12 cm per year?

Reuters AlertNet - Need to move Indonesia's capital growing urgent in face of climate change, experts say

Plans to relocate Indonesia's central government, parliament and public offices to another province on the island of Java or to another island in the Indonesian archipelago have been proposed on and off since the 1930s because of problems in Jakarta including overcrowding and rising sea level, which has led to worsening flooding.
...
The land development has also affected the water supply. Jakarta's high-rise buildings have overused ground water and Jakarta has sunk 12 centimetres a year since 2007, worsening the city's flooding problems.