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Advancing Well-Being at Every Stage of Life 2024 SUSTAINABILITY REPORT
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix
TABLE OF CONTENTS
OUR SUSTAINABILITY ENHANCING
1 INTRODUCTION 2 HIGHLIGHTS 3 4
APPROACH QUALITY OF LIFE
4 About This Report 15 Sustainability Performance 19 Sustainability Framework 40 Economic Contribution
7 Our Company 17 Sustainability Agenda 20 Sustainability Governance 44 Community Support
& Engagement
12 Group CEO’s Message 21 Materiality Assessment &
Stakeholder Engagement 48 Product Innovation
24 Supporting UN SDGs & 51 Customer Service
UNGC Principles & Satisfaction
28 Climate Risks &
Opportunities
CARING FOR OUR INVESTING IN CHAMPIONING
5 6 7 8 APPENDIX
ENVIRONMENT OUR PEOPLE BEST PRACTICES
57 Energy Efficiency 73 Employment & Rights 86 Governance & 96 Reporting Methodology
& Emissions Accountability
79 Occupational Health 98 Environmental Data
62 Water Stewardship & Safety 90 Ethics & Compliance
101 Workforce Data
68 Waste Management 82 Training & Development 93 Data Privacy & Security
105 Climate Scenario Analysis
107 Content Index
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INTRODUCTION
About This Report
Our Company
Group CEO’s Message
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ABOUT THIS REPORT [GRI 2-3a, 2-3b, 2-3c]
PT Lippo Karawaci Tbk (LPKR, Lippo Karawaci or “the Group”) is pleased to present its 2024 Sustainability Report (“this Report”).
This Report details the Group’s consolidated ESG performance and commitment to transparent sustainability reporting. Our
approach and methodology aim to incorporate sustainability into every facet of our business strategy, policies, and operations.
We recommend reviewing this Report alongside our Annual Report, which details our financial, operational, and governance
disclosures. The policy, practice and performance data presented in this report were obtained from formal documents and
operational data from business units in the Group. Endorsed by the Board of Directors and Board of Commissioners, this Report
is published on 30 April 2025. This Report is only available in a digital version – current and previous editions are available at Advancing Well-Being
at Every Stage of Life
www.lippokarawaci.co.id. 2022 SUSTAI NAB I LI TY REPORT
2022 Sustainability Report
REP OR TI N G S C O P E & P E R IO D [GRI 2-2, 2-3]
The scope of this Report mirrors our Annual Report, covering LPKR’s ownership stake in Siloam from 58.07% to 29.09%. In Advancing Well-Being
at Every Stage of Life
all business units across our Real Estate, Healthcare and terms of sustainability reporting, LPKR continues to adopt 2023 SUSTAINABILITY REPORT
Lifestyle segments. The scope includes publicly listed entities the all-year approach in disclosing Siloam’s ESG performance
under the Group’s management, such as PT Lippo Cikarang in alignment with reporting best practice, including the
Tbk (LPCK), PT Gowa Makassar Tourism Development (GMTD), Greenhouse Gas (GHG) protocol standards. This means that
PT Siloam International Hospitals Tbk (Siloam) and Lippo LPKR has included Siloam in all environmental, social and
Malls Indonesia Retail Trust (LMIR Trust) , as well as wholly- 1
governance disclosures in this Sustainability Report, with
owned subsidiaries such as PT Lippo Malls Indonesia (Lippo the exception of workforce-related disclosures to align with
Malls), PT Aryaduta International Management (Aryaduta) its FY2024 Annual Report and Financial Statements. This 2023 Sustainability Report
and San Diego Hills Memorial Park (SDH). Where necessary, year marks a period of transition due to Siloam’s partial
we have specified the boundaries for any disclosure that deconsolidation. For next year’s Sustainability Report, we plan
Advancing Well-Being
does not apply to all business units. All business units adopt a to fully deconsolidate Siloam across all disclosures, which will at Every Stage of Life
standard approach as prescribed by the Group Sustainability include further adjustments to our historical datasets and
Function in the identification of material topics, performance performance baselines.
measurement and reporting.
The reporting period spans 1 January to 31 December 2024,
For FY2024, LPKR has deconsolidated Siloam’s performance which aligns with our financial year. Where relevant and
in its Financial Statements from June 2024, following LPKR’s available, this Report provides comparative historical data to
partial divestment of its Siloam shares that has reduced provide more context. We publish our Sustainability Reports
2024 Sustainability Report
on an annual basis.
1
As publicly listed entities, LPCK, GMTD, Siloam, and LMIR Trust separately publish their own Sustainability Reports on an annual basis.
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REP OR TI N G S T A N D ARD S & F R A M E W O RK S
This year’s Report builds on the disclosures from our previous Sustainability Reports. We recognize the issuance of the new International Financial Reporting Standards (IFRS) standards
and have enhanced our report to align with the International Sustainability Standards Boards (ISSB)’s guidelines. This Report is prepared in accordance or refers to the following
regulations, standards, and guidelines (please refer to “Appendix - Content Index” on pages 107 to 128):
Reporting Standard / Framework Description
Global Reporting Initiative (GRI) The sustainability report is prepared in accordance with the Global Reporting Initiative (“GRI”) Universal Standards 2021. The GRI framework is one of
the most widely used and recognized standards for global reporting, this provides for higher comparability of the Group’s disclosures with its peers.
The disclosures made in this report are in line with GRI’s Reporting Principles for defining report quality – accuracy, balance, clarity, comparability,
completeness, sustainability context, timeliness and verifiability.
Sustainability Accounting Standards Board In addition, this Report is aligned to SASB sector-specific guidance on sustainability indicators based on financial materiality. We have referred to
(SASB) Healthcare and Real Estate sector recommendations.
United Nations Global Compact (UNGC) and As a UNGC signatory, we are committed to upholding the Ten Principles of the UNGC and advancing the UN SDGs that are more relevant to our
United Nations Sustainable Development Goals business. This Report showcases how we are contributing towards the global sustainability agenda under the UNGC and UN SDGs and forms the
(UN SDGs) basis for our annual disclosures under the UNGC’s “Communication on Progress” requirements.
Task Force on Climate-related Financial To enhance our climate reporting, we have prepared our climate-related disclosures in accordance with TCFD recommendations. This is structured
Disclosures (TCFD) around the four thematic areas of Governance, Strategy, Risk Management, and Metrics and Targets. Our TCFD Report is enclosed under “Sustainability
Risks and Opportunities” on pages 28 to 38. We are committed to working towards fully aligning with the TCFD recommendations and enhancing
our disclosures in line with best practice.
World Economic Forum (WEF) As a long-standing partner of WEF, we are amongst the first corporations in Southeast Asia to pledge our support for the WEF Stakeholder
Capitalism Metrics. Our Sustainability Framework and disclosures are organized according to the four thematic areas of Prosperity, Planet, People,
and Principles of Governance, which demonstrates our commitment to long-term value creation for all our stakeholders across both financial and
non-financial dimensions.
International Financial Reporting Standards The International Sustainability Standards Board (ISSB) issued its first two IFRS® Sustainability Disclosure Standards, IFRS S1 General Requirements
(IFRS) for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. This report is part of a process of continuous
improvement towards full compliance with S1 and S2.
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Reporting Standard / Framework Description
Financial Services Authority of Indonesia (OJK) As a public company listed on the Indonesia Stock Exchange, we have disclosed information in line with the sustainability reporting requirements of
OJK Regulation No.51/POJK.03/2017 on the Implementation of Sustainable Finance for Financial Services Companies, Issuers, and Public Companies
and in reference to OJK Circular Letter No.16/SEOJK.04/2021 for Form and Contents of the Issuer’s or Public Company’s Annual Report.
Singapore Exchange Securities Trading Limited This report also complies with the sustainability reporting requirements of the SGX-ST Listing Rule 711A and 711B. It has also been developed while
(SGX-ST) Listing Rules 711A and 711B, and Practice referencing the six primary components stated in SGX-ST Listing Rule 711B on the “comply or explain” basis.
Note 7.6 Sustainability Reporting Guide
RES TA TEM E N T S O F IN F O RM A T IO N [GRI 2-4] CO NTA C T IN F OR MATION [OJK C.2]
Due to the deconsolidation of Siloam, we have made restatements in our workforce- Menara Matahari, 22nd Floor
related historical disclosures. We expect to reflect additional revisions to other disclosures Jl. Boulevard Palem Raya No.7
in next year’s reporting period to account for Siloam’s full deconsolidation. Lippo Karawaci Central
Tangerang, Banten
EX TER NA L A S S U RA N C E [GRI 2-5] [OJK G.1] Indonesia 15811
Tel +62 21 2566 9000
We have not sought external assurance for this Report. We are continually improving Fax +62 21 2566 9098
our data collection and validation processes in preparation for external assurance in sustainability@lippokarawaci.co.id
the future. In 2023, we performed an internal audit on environmental disclosures as a www.lippokarawaci.co.id
preparatory measure for assurance readiness.
F E ED BA C K [GRI 2-3d, 2-26] [OJK G.2, G.3]
We welcome feedback on this Report, as this helps us to improve our sustainability
performance and reporting. Please reach out to us with any comments or questions at
sustainability@lippokarawaci.co.id
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OUR COMPANY
[GRI 2-1, 2-6, 2-22] [OJK C.1, C.6]
Vision Values
Listed on the Indonesia Stock Exchange, Lippo Karawaci To be a leading real estate and healthcare CUSTOM ER FOCUS
is Indonesia’s leading real estate and healthcare company in Asia, advancing the wellbeing of
Put the customer first in every aspect
platform, with a presence in 26 provinces and 56 cities those we serve
of our business
across Indonesia and total assets of USD 3.4 billion as of
Go the extra mile to earn customer
31 December 2024. The Group has a strong track record
trust and loyalty
of developing and managing a diversified asset base
that includes landed and high-rise residences, hospitals,
lifestyle malls, hotels, commercial and industrial estates, Mission EX CELLENCE
office buildings, as well as townships and integrated Strive to be the best and uphold the
1 To win the hearts and minds of our
developments. highest standards of quality without
customers through quality homes,
healthcare and lifestyle offerings, as well compromise
Through our innovative use of land and integrated
as people-centric services Unleash the full potential of our talent
value chain, we create value across every segment of
to deliver outstanding performance
the urban ecosystem. We serve Indonesia’s emerging
2 To build a talent-driven organization
consumers by not only building homes and townships,
that prides itself on operational A GILITY
but also providing healthcare, retail and hospitality
excellence and bringing out the best in
services. Our diversified assets and operations span the Thrive in dynamic environments and
our people
archipelago, from Aceh to the eastern reaches of Papua. anticipate change
As champions of sustainability, we are committed to Innovate and capitalize on new
3 To embrace innovation and technology
creating a more liveable world for all our stakeholders, opportunities
in the constant pursuit of developing
and for the generations to come.
better products and processes
STEWA R D SHIP
4 To inspire our customers, communities,
Thrive in dynamic environments and
and partners towards a more
anticipate change
sustainable future
Innovate and capitalize on new
opportunities
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BU S I NES S EC O S YS T E M [OJK C.3, C.4] [GRI 2-6]
REAL ESTATE HEALTHCARE LIFESTYLE
Large landbank and strong growth in marketing sales Investment in the largest hospital operator in Indonesia Malls, hotels, and ancillary businesses to support ecosystem
generating sustainable cashflows in coming years delivering clinical excellence and access to healthcare providing consistent dividend income
Real Estate Township Water treatment and Hospitals Clinics Digital healthcare, homecare, Malls Hospitality Food catering, parking, and
Development Management supporting services and supporting services ancillary businesses
3 9 3 41 73 ~9,000 59 2.5M m2 260M+
Townships High-rise Superblocks Hospitals Clinics Nurses and medical Malls Net leasable area Mall visitors
residences professionals
80+ ~1,400 ha 25+ 34% ~4,300 ~4,000 10 3 ~2,000
Property Land bank Years of development Digital outpatient GPs, specialists, Operational beds Hotels Leisure properties Hotel rooms
projects for sale pipeline bookings through dentists
My Siloam App
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OPER A TI ONA L F O O T P R IN T
Banda Aceh Medan Balikpapan
Plaza Aceh Siloam Hospitals Balikpapan (SHBP) Ambon
• Siloam Hospitals Medan (SHMD)
• Plaza Medan Fair
• Sun Plaza
Siloam Hospitals Ambon (SHAB) Real Estate Hospitals / Clinic
• Lippo Plaza Medan
• Grand Palladium Medan Banjarmasin Mall Hotel
• Aryaduta Medan
Siloam Hospitals Banjarmasin (SHBJ)
Pekanbaru
Aryaduta Pekanbaru
Manado
Palangkaraya
• Holland Village Manado
• Siloam Hospitals Palangkaraya (SHPR) • Siloam Hospitals Manado (SHMN)
• Mega Town Square Palangkaraya • Siloam Hospitals Paal Dua Manado (SHPD)
• Lippo Plaza Manado
Jambi
• Aryaduta Manado
• Siloam Hospitals Jambi (SHJB)
• Lippo Plaza Jambi
• Siloam Hospitals Palembang (SHPL)
Bangka
• Palembang Square Siloam Hospitals Bangka Kalimantan
• Palembang Square Extension
• Palembang Icon
Sumatra Belitung (SHBB)
• Aryaduta Palembang Pekalongan
Palembang Plaza Pekalongan Sulawesi Kendari
Lippo Plaza Kendari Maluku
• Siloam Hospitals Lubuk Linggau (SHLL)
• Lippo Plaza Lubuk Linggau Karawang
Surabaya
Lubuk Linggau • Rolling Hills Bau-Bau
• San Diego Hills • City of Tomorrow Surabaya
Kudus
Memorial Park • Siloam Hospitals Surabaya (SHSB) • Siloam Hospitals Buton (SHBN)
Kudus Extension Mall • City of Tomorrow • Lippo Plaza Buton
• Lippo Village • Citywalk Elvee
Purwakarta
• Millenium Village • Benton Junction Madiun
• Siloam Hospitals Lippo Village • WTC Matahari • Memorial Park
• Rumah Sakit Umum Siloam • Mall of Serang • Siloam Hospitals Plaza Madiun (Retail Spaces)
• Tanjung Bunga
Lippo Village (RSUS) • Aryaduta Lippo Village Purwakarta (SHPW) Gresik
• Siloam Hospitals Makassar (SHMK)
• Embarcadero Bintaro • Aryaduta Country Club
Plaza Gresik • GTC Makassar
• Siloam Hospitals Kelapa Dua • Imperial Klub Golf
• Aryaduta Makassar
• Plaza Semanggi
Banten
Jawa
• MaxxBox Lippo Village Makassar
Labuan Bajo
• Bandung Indah Plaza
Siloam Hospitals Labuan Bajo (SHLB)
• Istana Plaza
• Aryaduta Bandung
• Lippo Cikarang • Gajah Mada Plaza Bandung
NTB
• Kemang Village
• St Moritz Puri
• Lippo Plaza Kramat Jati
• Lippo Mall Kemang Siloam Hospitals Cirebon (SHC)
Lippo Plaza Batu NTT
• Nine Residence • Mal Lippo Cikarang Batu
Cirebon
• Depok Park View • Pluit Village
• Holland Village Jakarta • Tamini Square
• Siloam Hospitals Kebon Jeruk • Lippo Mall Puri • Siloam Hospitals Yogyakarta (SHYG) Lippo Plaza Sidoarjo Kupang
• MRCCC Siloam Semanggi • Cikarang CityWalk • Lippo Plaza Jogja
Sidoarjo • Siloam Hospitals Kupang (SHKP)
• Siloam Hospitals TB • District 1 Meikarta
Simatupang • Maxxbox Cinere Yogyakarta • Lippo Plaza Kupang
• Siloam Hospitals Mampang • Senayan Park • Siloam Hospitals
Jember (SHJR) Jabodetabek
• Siloam Hospitals ASRI • Blu Plaza
• Lippo Plaza Jember
Greater Jakarta
• Siloam Hospitals Cinere • Lippo Plaza Keboen
Siloam Hospitals Semarang (SHSR)
• Siloam Hospitals Bogor Raya Bogor
• Siloam Hospitals Bekasi • Grand Mall Bekasi
Jember
Semarang
Sepanjang Jaya (SHBS) • Bellanova Country Mall
• Siloam Hospitals Bekasi • Depok Town Square • BIMC Kuta
Timur (SHBT) • Metropolis Town Square • BIMC Nusa Dua
• Siloam Hospitals Sentosa • Sudirman Office Tower • Siloam Hospitals
(SHST) • Aryaduta Menteng
Kediri Town Square
Denpasar (SHDP)
• Siloam Hospitals Lippo • Aryaduta Suite Semanggi Kediri • Lippo Mall Kuta
Cikarang (SHLC) • Lippo Plaza Sunset
• Siloam Hospitals Agora Jabodetabek • Aryaduta Bali
• Cibubur Junction
• Lippo Plaza Ekalokasari Bogor
Greater Jakarta
Bali
Presence in
• Rumah Sakit Umum Syubbanul Wathon (RSU SW)
• Malang Town Square Siloam Hospitals
56 cities and 26 provinces
across the Indonesian archipelago
Mataram (SHMT)
Malang
Mataram
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OU R V A LU E C H A IN
OUR SUPPLIERS & CONTRACTORS OUR PRODUCTS & SERVICES OUR CUSTOMERS
REAL ESTATE
Mortgage Lenders Construction Consultants Township Landed Homes & Commercial &
Management High-Rise Apartments Industrial Leasing
Homeowners Tenants Local Communities
Property Agents Building Materials Landscaping Burial Plots Water Treatment
HEALTHCARE
Healthcare Service Food Catering Pharmaceuticals Hospitals Clinics Lab & Diagnostics
Providers
In-Patients Out-Patients
Partner Doctors & Allied Medical Devices Digital Healthcare Homecare
Health Professionals
LIFESTYLE
Guest Relations Daily Supplies Retail Spaces Lifestyle Malls Hospitality & Leisure
Mall Visitor Retail Tenants Hotel Guests
Sales & Marketing Facilities Management Food & Beverage Parking Services
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SH A R E H OLD E R S T R U C T U RE [OJK C.3]
Lippo Group of Companies * Public
59.37% 40.63%
No. of Outstanding Shares
70,877,317.69
(IDX: LPKR) (excludes Treasury Shares)
29.09% 83.99% 57.76%
PT Siloam International PT Lippo Cikarang Tbk PT Gowa Makassar Tourism
Hospitak Tbk (IDX: SILO) (IDX: LPCK) Development Tbk (IDX: GMTD)
*
Directly and indirectly
M E M BE R SH I P A S S O C IAT IO N S [GRI 2-28] [OJK C.5]
Lippo Karawaci Subsidiaries
• Indonesian Chamber of Commerce and Industry (KADIN) • Indonesian Employers’ Association (APINDO)
• Real Estate Indonesia (REI) • Indonesian Industrial Estate Association (HKI)
• Indonesian Issuers Association (AEI) • Indonesian Private Hospitals Association (ARSSI)
• World Economic Forum (WEF) • Indonesia Shopping Center Management Association (APPBI)
• Jakarta Property Institute (JPI) • Indonesian Hotel and Restaurant Association (PHRI)
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GROUP CEO’S MESSAGE [GRI 2-22, 2-25] [OJK A.1, D.1]
SUSTA I NA B I LI TY: O UR CO MP E TI TI V E EDGE H OL IS TIC R ES IL IEN CE AN D R EPOR TIN G
TH R OUGH IS S B ADOPTION
Dear Valued Stakeholders,
Global ESG regulatory frameworks continue to evolve at a
At Lippo Karawaci, sustainability has evolved from a rapid pace, and we are constantly striving to enhance our
corporate responsibility to a critical economic imperative. reporting capabilities and internal processes in line with
As we face increasing regulatory demands, volatile the latest requirements. The release of the International
geopolitical and market dynamics, as well as heightened Sustainability Standards Board (ISSB) standards under the
consumer expectations, sustainable practices are International Financial Reporting Standards (IFRS) has
essential to future-proofing our business. By investing in provided valuable guidance, offering a consensus-driven
green technologies, energy efficiency, and responsible framework for improving transparency, consistency,
development, we unlock long-term value while and comparability in ESG reporting. We particularly
driving cost savings and enhancing stakeholder trust. appreciate the ISSB’s focus on financial materiality, to
Sustainability is not just a strategic priority—it is key to ensure that sustainability disclosures are directly relevant
maintaining our competitive edge in today’s complex to investors and financial performance.
operating environment and volatile socioeconomic
landscape. In anticipation of the OJK’s adoption of ISSB
requirements into Indonesia’s ESG reporting regulations,
As CEO and a member of our ESG Committee, I am we have developed a phased roadmap to incorporate
proud of the progress our management teams have the ISSB guidance into our own ESG strategy and
made to navigate the dynamic ESG landscape. We reporting processes. This year, we have expanded our
have struck a fine balance between driving meaningful risk management scope beyond physical and transition
impact and creating commercial value, to ensure that risks to include non-climate risks and opportunities in
our sustainability initiatives are also aligned with our own our assessment process. In doing so, we are taking a
business objectives. In this year’s Sustainability Report, more holistic approach to identifying and managing
we are pleased to share our progress in advancing our sustainability risks and opportunities. This is a natural
John Riady ESG priorities and adopting best practices, and where progression in our journey to adopt the recommendations
Group CEO possible, even raising our level of ambition to push of the TCFD, whereby we conducted our inaugural
ourselves further. climate risk assessment in 2022, and quantified these
risks across different scenarios in 2023.
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In addition, we have undertaken a detailed double sustainability data across our physical assets, improving Furthermore, we have set for ourselves new targets on
materiality review, taking into account not just how our data accuracy and efficiency in our workflows. By Green Building certification and the installation of solar
operations and activities affect the environment and streamlining our ESG reporting, we can monitor and photovoltaic capacity, with the goal of accelerating
society, but also how sustainability factors may have an compare the performance of individual assets, thereby decarbonization across our commercial portfolio and
impact on our financial performance. We believe that making better decisions based on actionable insights. contributing towards Indonesia’s sustainability agenda
these steps will put us in good stead amongst the leading Moreover, the approval workflows and audit traceability for the real estate sector. We recently completed the
corporates, and lay a strong foundation for ESG reporting embedded in our system enhances the accountability of EDGE certification for Lippo Mall Kemang, and we plan to
in the years to come. our ESG reporting. Ultimately, we view data governance seek certification for other existing and new properties in
as an important aspect of overall corporate governance, the pipeline. In addition, to underscore the importance of
EN H A NC I NG A C C O U N T A B IL IT Y T H R O UG H and we believe that such initiatives will support our data governance in our operations, we have articulated
D A T A G OV ER N A N C E sustainability credentials. our commitment to maintaining our track record of zero
cases of data privacy breaches and leaks.
In light of the growing importance of data governance and RA I SI NG A MB I TI O NS THRO UG H O UR
regulatory developments, we have identified data privacy SUSTA I NA B I LI TY A G E NDA BUIL DIN G MOMEN TUM F OR TH E F UTUR E
and security as our newest material topic. Global data
protection regulations, including Indonesia’s Personal Over the last two years, we have put our best foot forward Ultimately, our accomplishments would not be possible
Data Protection Law, demand corporates to uphold the to deliver on the targets we have set for ourselves under without our reliable partners and customers, whose
highest standards when it comes to safeguarding an our 2030 Sustainability Agenda. I am pleased to see that steadfast support has enabled us to get many of our
individual’s privacy through proper consent and security we have made good progress across all targets, especially environmental and social impact initiatives off the
protocols. Compliance with these regulations is essential for our environmental performance. This Group agenda ground. We strive to maintain this momentum through
for building trust, avoiding legal risks, and maintaining gives our business units clear direction, and encourages further collaboration and innovation. Looking ahead,
operational integrity in an increasingly data-driven world. collective effort in achieving key sustainability outcomes. these next few years will present significant challenges
We have made our data policies more stringent, and due to the volatility of global markets, evolving regulatory
invested significant resources to train our employees and For the targets that we have already achieved ahead landscapes, and the urgent need for climate action.
strengthen our internal cybersecurity capabilities. These of 2030, we have decided to raise our ambitions to Nevertheless, we remain committed in integrating
measures go hand-in-hand with our Group’s overall strengthen our commitment towards sustainability. For sustainability into every facet of our business, from
digital transformation plans. instance, we have set a higher bar for sustainable water strategic planning and investment decisions to day-to-
consumption and treatment, given our plans to expand day activities. This commitment is rooted in the belief
Aside from data privacy and security, we have also our rainwater harvesting capabilities and increase that our sustainability efforts will pay off, as we secure a
begun to reap the benefits of better data governance the utilization of recycled wastewater in our buildings better future for both our shareholders and stakeholders.
when it comes to ESG reporting. Our Group-wide ESG and treatment plants. We also aim to support 1 million
data management system, which we launched in 2023, beneficiaries through our various activities under PASTI, John Riady
has revolutionized how we manage operational and our Group’s collective social engagement initiative. Group CEO
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HIGHLIGHTS
Sustainability Performance
Sustainability Agenda
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SUSTAINABILITY PERFORMANCE [OJK B.1]
E N H A N C I N G Q U A L I T Y O F L I F E [OJK B.1]
>265M IDR 11,505B
Customers Served Revenue
95.5% SOLD
99% 1,049 19 Provinces 43 Cities
Homes Sold Procurement Budget on Community ctivities
under IDR 2 billion Indonesian Suppliers under PASTI PASTI Activities Footprint
IDR 750B 99.7% 122K+ IDR 40B+
Taxes Paid Local Suppliers PASTI Beneficiaries Total CSR spending
C A R I N G F O R O U R E N V I R O N M E N T [OJK B.2, F.4]
3 Green Buildings 4,978 GJ
EDGE Certification for
Lippo Mall Puri, Sun Plaza,
1.4M GJ Energy Consumption from 0.576 GJ/m²
Energy Consumption Renewable Sources Building Energy Intensity
& Lippo Mall Kemang
GHG
Emissions 11 ktCO₂e 287 ktCO₂e 453 ktCO₂e CO 2 0.127 tCO₂e/m 2
CO 2 57
Scope 1 Scope 2 Scope 3 Building GHG Intensity EV Charging Stations Installed
4.7M m 3
1.70 m /m 3 2
24% 12.7M m 3
3,243 tons
Water Consumption from Treated Water from Waste Diverted
Water Consumption Building Water Intensity Sustainable Sources Sustainable Sources from Landfill
1
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SUSTAINABILITY PERFORMANCE
I N V E S T I N G I N O U R P E O P L E [OJK B.3]
0.74
3,062 61% 39% 33% Employee
Female senior executives Lost Time Injury
Employees Male Female and managers Frequency Rate (LTIFR)
16 0.61
Average training hours 48,089 835 3,494 Contractor
Lost Time Injury
per employee Total training hours` Total ESG training hours Total OHS training hours Frequency Rate (LTIFR)
CHAMPIONING BEST PRACTICES
Strengthening
Launched Group-wide Inaugural Assessment of
Data Privacy
ESG Data Sustainability 99% & Security
Management Related Risks Refresher Training Completion
Rate for Code of Conduct & through Internal
System & Opportunities Anti-Corruption Policy Capacity Building
Zero
Zero Cases of Non-Compliance Zero Zero
Legal Cases of Corruption, with Laws and Regulations Incidents of Discrimination, Cases of Data Privacy
Fraud and Bribery Resulting in Fines and/or Sanctions Child Labor, or Forced Labor Breach and Leaks
1
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix
SUSTAINABILITY AGENDA
ENHANCING QUALITY OF LIFE CARING FOR OUR ENVIRONMENT INVESTING IN OUR PEOPLE CHAMPIONING BEST PRACTICES
AFFORDABLE HOUSING OPERATIONAL EMISSIONS OCCUPATIONAL HEALTH & SAFETY BUSINESS ETHICS
2030 TARGET 2024 PERFORMANCE 2030 TARGET 2024 PERFORMANCE 2030 TARGET 2024 PERFORMANCE 2030 TARGET 2024 PERFORMANCE
At least 90% of sold 95.5% of sold homes 35% reduction in 23% reduction in Zero fatalities 2 fatalities (Contractor) 100% completion rate 99% completion rate
homes priced under priced under IDR 2 building emissions building emissions for training on Code for training on Code of
IDR 2 billion1 each year billion intensity3 by 2035, intensity Zero high Zero high of Conduct and Conduct and
with 15% reduction by consequence injuries consequence injuries anti-corruption anti-corruption
2030 policies policies
COMMUNITY ENGAGEMENT Baseline: 2019 (0.164 ktCO2e/m2) ≤ 1 Lost Time Injury LTIFR (Employee): 0.74
Frequency Rate LTIFR (Contractor): 0.61
2030 TARGET 2024 PERFORMANCE (LTIFR) PROCUREMENT
5,000 PASTI 2,805 PASTI 2030 TARGET 2024 PERFORMANCE
WATER CONSUMPTION
community activities2 community activities
(Cumulative from 2022) (Cumulative from 2022) 2030 TARGET 2024 PERFORMANCE TRAINING & DEVELOPMENT Formulate Group Commence collection
2030 TARGET 2024 PERFORMANCE Sustainable of signed
At least 30% of water 24% of water
1 million PASTI 649,675 PASTI Procurement commitments from
consumption from consumption from
beneficiaries beneficiaries Average 15 training Average 16 training Policy, and socialize key vendors
sustainable sources4 sustainable sources
(Cumulative from 2022) (Cumulative from 2022) hours per employee hours per employee requirements to
each year
vendors
At least 1,000 ESG 835 ESG training hours
training hours
GREEN BUILDING CERTIFICATION WATER TREATMENT
each year COMPLIANCE
2030 TARGET 2024 PERFORMANCE 2030 TARGET 2024 PERFORMANCE
2030 TARGET 2024 PERFORMANCE
600,000 m2 GFA 436,000 m2 GFA At least 1,000,000 m3 1,267,468 m3 in volume
Zero cases of Zero cases of
with green building with green building of treated water from of treated water from
non-compliance with non-compliance with
certification certification sustainable sources sustainable sources
laws and regulations laws and regulations
each year
resulting in fines resulting in fines
and/or sanctions and/or sanctions
SOLAR PANEL CAPACITY WASTE DIVERSION Zero legal cases of Zero legal cases of
2030 TARGET 2024 PERFORMANCE 2030 TARGET 2024 PERFORMANCE corruption, corruption,
fraud and bribery fraud and bribery
5,000 kWp Solar PV 765 kWp Solar PV At least 3,000 tons of 3,243 tons of waste
capacity installed capacity installed waste diverted from diverted from landfill
Zero cases of data Zero cases of data
landfill each year
privacy breaches privacy breaches
and leaks and leaks
1
Inflation-adjusted IDR 2 billion at 2022 levels
2
PASTI is the Group framework for community engagement and CSR initiatives
3
Scope 1 & 2 emissions intensity of high-rise residential buildings, hospitals, malls, and hotels (average)
4
Sustainable water sources include recycled wastewater and harvested rainwater
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OUR SUSTAINABILITY
APPROACH
Sustainability Framework
Sustainability Governance
Materiality Assessment & Stakeholder Engagement
Supporting UN SDGs & UNGC Principles
Climate Risks & Opportunities
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SUSTAINABILITY FRAMEWORK
In line with Lippo Group’s overarching vision of
“Growing in Stewardship, Transforming Lives”, we
place sustainability at the heart of everything we do.
We are committed to being responsible stewards of
the resources, environment, and communities placed
under our care. As a forward-looking company, we strive
to pursue sustainable growth and deliver transformative
impact to the millions we serve throughout the
archipelago, as well as the future generations to come.
VISION Advancing the Well-Being of Indonesians at Every Stage of Life
We recognize that we cannot do this alone, which is why
we work together with the myriad business partners Enhancing Caring for Our Investing in Championing
Quality of Life Environment Our People Best Practices
and stakeholders across our value chain to adopt ESG
best practices and leverage our respective strengths.
Together, we stand united for a better Indonesia. Drive sustainable Improve resource Create a fair and inclusive Uphold highest
economic growth efficiency and reduce workplace standards of corporate
throughout Indonesia environmental footprint governance
At Lippo Karawaci, we aspire to advance the well-being Prioritize health, safety
Provide quality living Develop greener and well-being Promote sustainable
of Indonesians at every stage of life. Our Sustainability
and socioeconomic products and processes practices across value
Framework articulates our approach to sustainable value opportunities for local Develop and empower chain
creation for our stakeholders across four key pillars: communities Mitigate climate risks staff to unlock their full
and capitalize on new potential Improve accountability
Innovate to enhance opportunities and transparency in ESG
1 Enhancing Quality of Life
offerings and enrich the performance
customer experience
2 Caring for Our Environment
3 Investing in Our People
4 Championing Best Practices2
Supported by a robust sustainability governance
structure, this Framework guides the integration of
sustainability into our business strategy, policies, and
operations.
2
These pillars correspond with the four overarching themes of the WEF Stakeholder Capitalism Metrics – Prosperity, People, Planet, and Principles of Governance.
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SUSTAINABILITY GOVERNANCE
At Lippo Karawaci, we are committed GOVERNANCE & ACCOUNTABILITY
to integrating sustainability into our As the lead governing bodies of Lippo Karawaci, the BoD and BoC provide strategic direction for the
organizational structure and governance Group, ensuring that its approach to material ESC issues aligns with the interests of the business and
framework. We believe that a robust stakeholders. The BoD bears ultimate responsibility for the Group’s ESG performance, while the BoC
BOARD OF BOARD OF
sustainability governance structure, which serves as a supervisory and advisory body to the BoD. Both Boards review the Group’s sustainability DIRECTORS COMMISSIONERS
emphasizes our ESG priorities across all targets and performance, as well as approve relevant disclosures such as the Sustainability Report.
organizational levels, enables us to serve our
stakeholders in a more responsible manner.
STRATEGY & OVERSIGHT
The ESG Committee is appointed by the BoD to set the direction for the Group’s ESG strategy,
Our sustainability governance is
policies, and initiatives, as well as exercise oversight over the Group’s ESG performance. Chaired
spearheaded by the ESG Committee,
by the President Director, the ESG Committee consists of BoD Members and Senior Executives
anchored by the ESG Steering Group, and
who hold positions of responsibility and/or possess expertise which are relevant to the Group’s ESG ESG COMMITTEE
supported by champions from the relevant strategy and policies. The ESC Committee periodically reports to the BoD and BoC to seek guidance
corporate functions and our business units. on ESC priorities and workplans, and to provide updates on the Group’s ESG performance. The ESG
The Group Sustainability Function acts Committee meets at least four times a year.
as a “Centre of Excellence” to support the
ESG Committee, ESG Steering Group, and
MANAGEMENT, COORDINATION, MONITORING
each business unit in their respective ESG
The ESG Steering Group is the platform through which the Group’s ESG strategy is operationalized.
journeys. Together, they are responsible
Led by the Group Head of Sustainability, it comprises key representatives from our business units
for formulating the Group’s sustainability ESG STEERING GROUP
and relevant corporate functions including Risk Control and Assurance, Corporate Secretary,
strategy and driving initiatives to achieve GROUP
Human Resources, Investor Relations, and Corporate Communications. The ESG Steering Group SUSTAINABILITY FUNCTION
the Group’s ESG targets and commitments.
is responsible for executing workplans approved by the ESG Committee and monitoring ESG ESG PICS
This structure provides multiple channels (CORPORATE FUNCTIONS)
performance in their respective areas of operation. When necessary, the ESG Steering Group
through which we can escalate ESG risks convenes working groups to socialize workplans, create alignment, and drive progress in specific
ESG PICS
(BUSINESS UNITS)
and issues of concern, remediate negative ESG workstreams.
impacts, and undertake policy reviews
where necessary. Bottom-up input from the
EXECUTION
business units and corporate functions is
Our business units, with support from the relevant corporate functions, are held accountable for
frequently tabled to the ESG Committee for
their ESG performance through regular reporting to the ESG Committee via the ESG Steering Group. BUSINESS UNITS
consideration and follow-up.
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MATERIALITY ASSESSMENT & STAKEHOLDER ENGAGEMENT
PR OCES S OF ID E N T IF YIN G M A T E RIAL TO P I CS
[GRI 3-1 to 3-3]
Every year, we perform a materiality assessment to review the ESG topics that have
Product Innovation
a material impact on our business and our stakeholders. This year, we conducted a Economic Contribution
AFFORDABLE HOUSING
review of our material topics through focus group discussions. A three-step process was 2030 TARGET 2024 PERFORMANCE
employed to determine the materiality of identified topics. First, a focus group discussion At least 90% of sold homes 95.5% of sold homes
Data Privacy
& Security
priced under Rp 2 billion1 priced under Rp 2 billion
(FGD) involving management-level representatives from each business unit confirmed each year
Governance
Ethics & Compliance & Accountability
Financial Materiality
the relevance of these topics to the company. Second, participants completed a survey Water Stewardship
to rank each validated topic based on its financial and impact materiality to consider Energy Efficiency
Customer Service & Emissions
double materiality. Impact materiality assesses how a company’s actions affect people & Satisfaction
and the planet. Financial materiality focuses on how sustainability issues impact the Community Support
Waste Management & Engagement
company’s financial performance and future viability. Third, to maintain relevance to
current market conditions, material topics were prioritized according to their importance
to stakeholders. Employment
& Rights Occupational
Health & Safety
In summary, we have added “Data Privacy & Security” as a material topic and reprioritized Training
& Development
several material topics to reflect our latest management approach and priorities in our
Impact Materiality
sustainability journey. For example, “Product Innovation” was highlighted as financially
material, hence has been moved up as a higher priority. The final set of ESG topics and Enhancing Quality of Life Investing in Our People
materiality matrix are approved by the ESG Committee and subsequently validated by Caring for Our Environment Championing Best Practices
the Board of Directors and Board of Commissioners. As our business landscape continues
to evolve, we will regularly review the relevance of these material topics to our business Moderately Material Highly Material Critically Material
and update their prioritization where necessary.
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix ST A K EH OLD E R E N G AG E M E N T [GRI 2-29] We strive to build positive relationships and actively and concerns among stakeholders, the Group reviews This year, we ramped up our corporate communications to engage with our internal and external stakeholders these issues and makes subsequent adjustments. These external stakeholders, including ESG Media Day involving throughout the year. Stakeholders are defined as the adjustments will be thoughtfully incorporated or duly more than 20 Indonesian media outlets, the company individuals or groups that have interests that are affected considered in the decision-making process. We ensure emphasized its strategic role in educating the public or could be affected by the Group’s activities. These good communication with stakeholders by publishing about the importance of responsible business practices. individuals or groups are identified through screening materials, including quarterly financial results, press We also continue to improve internal communication by the Group Sustainability Function and are engaged releases, and investor presentations. In addition, as a with our employees through our internal newsletters through regular touchpoints and various feedback publicly listed entity, we regularly disclose information and events, as well as regular socialization on ESG topics. channels, such as surveys and focus group discussions. and announcements through the Indonesia Stock Please refer to “Employee Engagement & Retention” on By consistently communicating across diverse platforms Exchange (IDX) and shareholder meetings, as well as page 74 for more information. The table below highlights and employing feedback mechanisms, we gain a deeper actively engage in investor meetings, media gatherings, the Group’s response to specific stakeholder concerns. understanding of our stakeholders and their emerging and various conferences. needs and concerns. Upon identifying emerging needs 22 PT LIPPO KARAWACI TBK | 2024 SUSTAINABILITY REPORT
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Government & Industry
Employees Investors & Rating Agencies Customers & Tenants Communities Vendors & Suppliers
Associations
• Employment and rights • Economic contribution • Ethics and compliance • Economic contribution • Community support and • Responsible value chain
TOP ESG TOPICS
• Ethics and compliance • Governance and accountability • Employment and rights • Customer service and satisfaction engagement • Ethics and compliance
• Training and development • Climate resilience • Health and safety • Product innovation • Economic contribution • Health and Safety
• Health and safety • Governance and accountability • Health and safety • Biodiversity • Energy efficiency and
• Diversity, equity and inclusion • Energy efficiency and emissions emissions
• Water stewardship • Water stewardship
• Waste management • Waste management
• Employee benefits and assistance • Investor meetings • Regular interaction with national/ • Product launches and customer • Public spaces and programs • Tenders
• Training programs (internal/ • Investor releases and presentations local government agencies events • Social engagement and CSR • Vendor/supplier policies
external) • Permits and licensing approvals • Tenant agreements activities
HOW WE ENGAGE
• Quarterly earnings calls • Regular engagement
• Employee engagement activities • Investor conferences and roadshows • Events organized by government • Digital applications and services • Online and offline media • Collaboration with local
• Career and talent development and industry associations • Customer service and guest engagement vendors
• Annual and Sustainability Reports
programs relations
• General Meeting of Shareholders
• Company policies • Surveys, feedback platforms, and
• Extraordinary General Meeting of
• Volunteerism market research
Shareholders
• Annual Gathering • Social media channels
• Infinity Newsletter
• Lippo Fun Club
• Internal ESG alignment and buy- • Price volatility and inflationary • Evolving regulatory frameworks • Quality of feedback • Measurement of social impact • Nascent awareness of
CHALLENGES
in within the company pressures • Advocacy for ESG priorities • Complaints that are difficult to • Approach to CSR limited to ESG best practices and
sustainable supply chain
OUR
• ESG initiatives are in the early • Stock performance resolve immediately philanthropic activities
stages of being embraced across • Global uncertainties from • Effectiveness of
the Group, to be integrated into geopolitical conditions and communication channels
business and operational plans macroeconomic factors
• Weekly updates on company • Provide timely updates to bond and • Maintain engagement with • Improve products and services • Implement Group social • Promote business ethics
news and activities equity investors through conference agencies and institutions to ensure through soliciting regular feedback engagement framework through Vendor Integrity
• Increase employee training hours calls and investor release compliance • Enhance customer and tenant (PASTI) Pledge and Sustainable
Procurement Policy
HOW WE RESPOND
and leadership development • Improve transparency in disclosures • Support KADIN initiatives through experiences through innovation • Newsletters and social media
programs (e.g. enhancing ESG disclosures – APEC, G20, and WEF participation • Increase engagement via digital engagement • Recognize the achievements
• Update Code of Conduct to TCFD, SASB) and ESG taskforces platforms (e.g. MySiloam app) • Increase community of good performers
promote business and ethics • Regular meetings to understand • Become a UNGC member • Speed up complaint resolution engagement and volunteering • Prioritize local vendors and
• Promote greater diversity, equity, and address external stakeholders’ • Participate in surveys by OJK and processes small businesses
and inclusion at the workplace concerns IDX • Adopt best-available technology
• Campaigns on health and • Engage rating agencies to • Active participation in industry for efficiency and sustainability
wellness, environmental understand ESG rating criteria associations, training and
awareness, and community • Discussions on ESG best practices socializations with regulators
engagement and other topics such as sustainable
financing
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix SUPPORTING UN SDGs & UNGC PRINCIPLES The UN SDGs rally governments and corporations to advance the well-being of people, societies, and the planet by providing a blueprint to address the world’s most pressing sustainability development challenges. We are committed to aligning our ESG strategy to meet the underlying actions and priorities of the UN SDGs, as well as Indonesia’s 2030 Agenda to our business operations and where we can create the most significant impact. We have mapped our sustainability framework and material ESG topics to 13 out of 17 UN SDGs which we believe are relevant for Sustainable Development. In 2022, we became a signatory to the United Nations Global Compact (UNGC). By joining the world’s largest corporate sustainability initiative, we are pledging our commitment to support the UNGC’s Ten Principles on human rights, labour, environment, and anti-corruption, as well as to take strategic actions to advance the UN SDGs. This Report contains our disclosures based on the UNGC’s Ten Principles – please refer to “Content Index” on page 112. 24 PT LIPPO KARAWACI TBK | 2024 SUSTAINABILITY REPORT
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Supporting UN SDGs Our Contributions ESG Topics
G OAL 3 Provide quality and accessible healthcare across • Economic Contribution
Good Health & Well-being Indonesia, including remote areas. • Community Support and Engagement
TARGET 3.8 T AR G E T 3 . C • Promote health and wellness through public • Customer Service and Satisfaction
Achieve universal health coverage, including Substantially increase health financing and campaigns.
financial risk protection, access to quality the recruitment, development, training • Occupational Health and Safety
essential health-care services and access to and retention of the health workforce in • Provide customers, visitors and employees with a
safe, effective, quality, and affordable essential developing countries, especially in least safe and healthy living and working environment.
medicines and vaccines for all. developed countries and small island
developing States.
G OAL 4 • Equip employees with the necessary skills through • Community Support and Engagement
Quality Education training and development to fulfil their career • Employment and rights
aspirations.
TARGET 4 .4 • Training and Development
By 2030, substantially increase the number of youth and adults who have relevant skills, • Ensure access to quality education and vocational
including technical and vocational skills, for employment, decent jobs, and entrepreneurship. training across Indonesia.
G OAL 5 • Promote gender equality and empower women at • Employment and rights
Gender Equality the workplace.
TARGET 5.1 T AR G E T 5 . 5 • Eradicate all forms of workplace discrimination and
End all forms of discrimination against all Ensure women’s full and effective establish effective channels for grievances.
women and girls everywhere. participation and equal opportunities for
leadership at all levels of decision making in
political, economic, and public life.
G OAL 6 • Ensure availability of clean water at all our • Water Stewardship
Clean Water and Sanitation managed properties and townships. • Waste Management
TARGET 6.3 T AR G E T 6. 4 • Manage water resources efficiently through
By 2030, improve water quality by reducing By 2030, substantially increase water-use optimizing water usage and transitioning to
pollution, eliminating dumping, and efficiency across all sectors and ensure sustainable sources such as recycled wastewater
minimizing release of hazardous chemicals sustainable withdrawals and supply of
and materials, halving the proportion of freshwater to address water scarcity and
and harvested rainwater.
untreated wastewater, and substantially substantially reduce the number of people • Ensure proper disposal of wastewater.
increasing recycling and safe reuse globally. suffering from water scarcity.
G OAL 7 • Increase energy efficiency to lower carbon Energy Efficiency and Emissions
Affordable and Clean Energy emissions and operational costs.
TARGET 7.2 T AR G E T 7 . 3 Switch to renewable energy through the adoption
By 2030, increase substantially the share of By 2030, double the global rate of of technologies such as rooftop solar photovoltaic
renewable energy in the global energy mix. improvement in energy efficiency. (PV) systems.
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Supporting UN SDGs Our Contributions ESG Topics
G OAL 8 • Contribute to the local economy and MSMEs • Economic Contribution
Decent Work and Economic Growth through job creation and business partnerships. • Community Support and Engagement
TARGET 8.1 T AR G E T 8. 8 • Protect and promote human rights and labor rights • Employment and Rights
Sustain per capita economic growth in Protect labor rights and promote safe and at the workplace
accordance with national circumstances secure working environments for all workers,
and, in particular, at least 7% gross domestic including migrant workers, in particular
product growth per annum in the least women migrants, and those in precarious
developed countries. employment.
G OAL 9 • Provide products and services that meet • Product Innovation
Industry, Innovation and Infrastructure infrastructural and social needs through • Energy Efficiency and Emissions
continuous innovation.
TARGET 9.4 T AR G E T 9. 5
By 2030, upgrade infrastructure and retrofit Enhance scientific research, upgrade the • Implementing green building practices such as
industries to make them sustainable, with technological capabilities of industrial sectors in energy audits and building management systems.
increased resource-use efficiency and greater all countries, in particular developing countries,
adoption of clean and environmentally sound including, by 2030, encouraging innovation
technologies and industrial processes, with and substantially increasing the number of
all countries taking action in accordance with research and development workers per 1 million
their respective capabilities. people and public and private research and
development spending.
G OAL 10 • Advocate for equitable employment practices and • Employment and Rights
Reduced Inequalities DEI principles in the workplace.
TARGET 10.2 T AR G E T 10. 3 • Reinforce zero tolerance policy for discrimination.
By 2030, empower and promote the social, Ensure equal opportunity and reduce
economic and political inclusion of all, inequalities of outcome, including by
irrespective of age, sex, disability, race, eliminating discriminatory laws, policies
ethnicity, origin, religion or economic or other and practices and promoting appropriate
status. legislation, policies, and action in this regard.
G OAL 11 • Provide affordable housing options that cater to • Community Support and Engagement
Sustainable Cities and Communities different market segments in Indonesia, especially • Product Innovation
first-home owners.
TARGET 11.1 T AR G E T 11. 6 • Waste Management
By 2030, ensure access for all to adequate, By 2030, reduce the adverse per capita • Contribute to local communities and nurture a
safe, and affordable housing and basic services environmental impact of cities, including by society that is inclusive and vibrant.
and upgrade slums. paying special attention to air quality and
municipal and other waste management. • Minimize any negative environmental impacts
through an environmental impact assessment and
responsible waste management.
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Supporting UN SDGs Our Contributions ESG Topics
G OAL 12 • Reduce the consumption of natural resources and • Energy Efficiency and Emissions
Responsible Consumption and Production optimize resource efficiency across operations and • Water Stewardship
the entire value chain.
TARGET 12.2 T AR G E T 12 . 5 • Waste Management
By 2030, achieve the sustainable management By 2030, substantially reduce waste • Minimize waste generation and enhance waste
and efficient use of natural resources. generation through prevention, reduction, diversion at all managed assets and townships.
recycling and reuse.
• Raise environmental awareness among
stakeholders.
G OAL 13 • Incorporate climate-related risks and opportunities • Energy Efficiency and Emissions
Climate Action in strategy and risk management. • Governance and Accountability
TARGET 13.2 T AR G E T 13 . 3 • Provide training on climate change mitigation and
Integrate climate change measures into Improve education, awareness-raising and adaptation to build capacity.
national policies, strategies, and planning. human and institutional capacity on climate
change mitigation, adaptation, impact • Align ESG priorities with global and national
reduction and early warning. sustainability agendas.
G OAL 15 • Reduce any negative impacts on biodiversity due
Life on Land to our operations.
TARGET 15.5 • Actively preserve and revitalise natural
Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of environments in urban areas.
biodiversity and, by 2020, protect and prevent the extinction of threatened species.
G OAL 16 • Uphold the highest standard of corporate • Governance and Accountability
Peace, Justice, and Strong Institutions governance and conduct our business with • Data Privacy and Security
integrity.
TARGET 16.5 T AR G E T 16. B • Ethics and Compliance
Substantially reduce corruption and bribery in Promote and enforce non-discriminatory laws • Enhance accountability and transparency in ESG
all their forms. and policies for sustainable development. disclosures.
TARGET 16.6 • Establish a non-discriminatory workplace
Develop effective, accountable and
transparent institutions at all levels.
environment and reinforce zero tolerance for
discrimination.
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SUSTAINABILITY RISKS & OPPORTUNITIES
CLI M A T E R E S IL IE N C E MA NA G I NG SUSTA I NA B I LI TY RI SK S A N D The ESG Committee meets at least four times a year and
O P P O RTUNI TI E S reports periodically to the BoD and BoC on its activities
As a real estate company managing a portfolio of buildings and recommendations, including with regard to climate
Governance [IFRS S1-27] [IFRS S2-6] and sustainability-related risks and opportunities. Any
and physical assets in Indonesia, climate resilience is a core
strategic priority. According to the INFORM Risk Index , 3 significant risks identified by the ESG Committee is
Since 2021, we have established a sustainability escalated to the attention of both the BoD and BoC for
Indonesia faces significant risk from natural disasters and
governance structure that provides oversight and thorough deliberation.
human conflict. Recognizing the inevitability of climate
accountability for our 2030 Sustainability Agenda.
change and its increasing operational impact through
extreme weather events and other sustainability risks, we At the operational level, the ESG Committee is supported
Our Board of Directors (BoD) bears ultimate responsibility by the ESG Steering Group, comprising the Group
are accelerating our mitigation and adaptation efforts to
for the Group’s ESG performance, while our Board of Sustainability Function and key representatives from
support a sustainable, low-carbon economy.
Commissioners (BoC) serves as a supervisory and advisory each business unit and relevant corporate functions.
body to the BoD. Together, they review our sustainability The ESG Steering Group is responsible for coordinating
In 2022, we adopted the recommendations of the
performance and targets on an annual basis, prior to and monitoring annual ESG performance for all business
Task Force on Climate-Financial Disclosures (TCFD) to
the issuance of the Sustainability Report. The BoD and units. The Group Sustainability Function oversees ESG
disclose our first TCFD Report on climate-related risks
BoC schedule regular meetings throughout the year, reporting and data collection, assessment of sustainability
and opportunities. In 2023, we have built on our previous
during which specific ESG agenda items are tabled for trends, risks and opportunities, capacity building, and
disclosures to include a high-level climate scenario
approval or informational purposes on an ad hoc basis. stakeholder engagement. To meet the requirements
analysis, as well as quantitative analysis of the financial
Examples include the approval of the Group Sustainable of the regulations, we have invested on an ESG data
impact of climate risk on our assets and operations. As we
Procurement Policy and updates on International platform that compiles data continuously.
transition to ISSB reporting this year, we have integrated
Sustainability Standards Board (ISSB) requirements.
sustainability-related risk and opportunity assessments
into our climate resilience strategy. We have expanded All ESG targets and climate-related targets are approved
The BoD has appointed the ESG Committee to set the by the ESG Committee and subsequently tabled for
our assessment of climate and sustainability-related
direction for the Group’s ESG strategy, policies, and approval by the BoD and BoC. The Group’s sustainability
risks to include both financial materiality (impact on our
initiatives, as well as exercise oversight over the Group’s performance is reviewed on a quarterly basis. Please
business) and double materiality (impact on both our
ESG performance. Under the guidance of the ESG refer to “Sustainability Governance” on page 20 and
business and wider society/environment).
Committee, the lens of sustainable governance is applied “Governance and Accountability” on pages 86 to 89 for
to various internal processes, including risk management, further details.
business plans, annual budgets and strategy.
The INFORM Risk Index is a global, open-source risk assessment for humanitarian crises and disasters. Each risk is scored out of 10. More information located here - https://drmkc.jrc.ec.europa.eu/inform-index
3
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Strategy [IFRS S1-30,32,33,34,35,41]
In 2022, we conducted our first bottom-up climate risk
assessment to evaluate the climate-related risks and
opportunities affecting our business across different asset
classes and time horizons. The results of this assessment
have been integrated into our risk management
procedures, enabling us to make better-informed
decisions in terms of strategic planning. We have
maintained a commitment to improving our disclosures
annually, ensuring they reflect the current best practices,
this year we have included a financial materiality lens to
our climate risk assessment.
Our climate risk assessment comprised the following
stages:
1. Analysis of current and upcoming trends specific to
all our real estate, healthcare, and lifestyle assets, as
well as policies and regulations specific to Indonesia
2. Assessment of the impact of climate-related risks
identified across different time horizons, considering
their magnitude and probability of occurrence
3. The financial and impact materiality of each risk
assessed through an internal stakeholder survey
involving key representatives from every business
unit
4. Evaluation of viable control measures to either
mitigate or adapt to the climate-related risk identified
based on available resources and capabilities
5. The prioritized risks were reviewed by the ESG
working group and approved by the ESG Committee
A detailed description of our climate-related risks and
opportunities can be found in the following tables.
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Climate-related risks Impact materiality Financial materiality
Our properties have faced an increase occurrence of flooding due to high rainfall events experienced
Damage to buildings can incur significant financial losses, including repair costs,
Floods in Indonesia. These floods not only cause property damage and operational disruptions but also pose a
potential business interruption and an increase in insurance premiums.
threat to the safety of our stakeholders.
Prolonged periods of abnormally low rainfall may lead to droughts and a shortage of water. This poses Droughts can lead to landscape deterioration, reducing property values &
Droughts significant social impacts on our stakeholders as disruptions in water supplies can impact on their health affecting long term property demand. Droughts will also lead to increased costs
and safety. for water sourcing, treatment, and distribution thus increasing operational costs.
Increased variability in precipitation, including more frequent and intense rainfall
Changes in precipitation patterns, including prolonged rainy seasons and the presence of tornadoes or events could cause damage to property and infrastructure, disruption of supply
Heavy precipitation (storms)
typhoons, could potentially impact on the safety of our stakeholders by creating hazardous conditions. chains, and business interruption. These can incur significant financial losses,
PHYSICAL
including repair costs.
Higher temperatures could lead to increased absenteeism among our workforce due to heat-related Higher temperatures will lead to an increase in operating costs due to increased
Higher temperatures
illnesses or discomfort, ultimately resulting in lower overall productivity. cooling demands.
Landslides due to heavy torrential rain or earthquakes may lead to decreased
Landslides can occur rapidly and with little warning, causing fatalities and injuries to those in affected
Landslides property values and result in costly repairs from damage to property and
areas. Landslides can damage critical infrastructure and hinder access to healthcare.
infrastructure.
Rising sea levels can lead to the erosion of our land bank and damage/devaluation
Extreme waves & coastal abrasion Rising sea levels can increase the risk of waterborne diseases due to saltwater intrusion into freshwater
of properties near coastal areas, and increased costs from investment in coastal
(rising sea levels) sources and increased flooding.
infrastructure adaptation measures.
Greater expectations and There may be a shift in stakeholders’ preferences towards more sustainable products and the inclusion
demand from customers and of ESG considerations in our decision-making processes. Failure to meet industry standards and the Customers may shift their preferences towards more sustainable alternatives,
investors for more sustainable expectation of stakeholders could result in weaker demand as well as loss of reputation and investor leading to a decline in sales and revenue.
products and services confidence.
Disruption of new (low emission) Our current technology may become obsolete. Technological obsolescence threatens our efficiency, Significant upfront costs and technological barriers can hinder the adoption of
technology competitiveness, and ability to serve customers effectively. low-emission technologies, leading to higher transition costs.
We may face stricter regulations on urban planning and construction, including mandatory building
More stringent building This may lead to an increase in costs due to mandatory investments required for
TRANSITION
codes. The strengthening of health and safety regulations translates to tangible benefits for customers,
regulations asset enhancement and retrofitting to comply with regulations.
such as safer products, healthier environments, and greater peace of mind.
As the Indonesian energy system progressively transitions away from fossil fuels, we may experience
This could lead to an increase in operating costs across all 3 segments, Healthcare,
Increase in energy cost higher fossil fuel prices and greater price fluctuations. Increased fossil fuel energy costs can lead to
Real Estate & Lifestyle.
decreased demand, potentially resulting in lower carbon emissions.
The Indonesian government has plans to implement a carbon tax on carbon-intensive industries in the
More stringent carbon tax near future. This aims to reduce the emissions of carbon pollutants, thereby mitigating their contribution This may result in increased operational costs for properties with high emissions.
to climate change.
Increase in cost of materials and This might increase operational costs; we may also incur additional costs from
Disruption in supply chains possibly leading to a shortage of raw materials, equipment and labor.
equipment switching to low-carbon materials and more energy-efficient equipment.
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Climate-related
Climate-related opportunities and potential impact Strategies to capture opportunities
opportunities
Development of new sustainable We continue to strive for green building certification for our existing properties and new products. We will also
Creating greener products and services to tap into new groups of customers
products or services through R&D step up our engagements with key stakeholders and partners to better capitalize on demand for more sustainable
who place a high focus on sustainability.
and innovation products and services.
We have completed multiple feasibility and site studies for solar photovoltaic installation at our properties, with
Shift towards renewable energy Using renewable energy sources such as solar power instead of conventional
the aim of installing rooftop solar panels across our portfolio of assets. We have also switched to bio-based fuel in
sources fossil fuel can result in cost saving.
compliance with the Indonesian government’s regulations.
Upgrading to more efficient equipment enables us to reduce operating costs
We continue to conduct energy audits and explore asset enhancement initiatives that enable us to leverage the
Adoption of green technology in the long run by reducing energy consumption and improving our water and
benefits of green technology.
waste management.
Tapping on sustainable finance will improve our access to financing, lower our
Sustainable finance We will explore sustainable finance opportunities based on our ESG targets.
cost of capital and increase collaborations with banks and financial institutions.
This year, we broadened the scope of our TCFD report to include sustainability-related
risks and opportunities, aligning with recommendations from the International
Sustainability Standards Board (ISSB).
Our sustainability risk assessment comprised the following stages:
1. Review of material topics, risks & opportunities identified by the Sustainability
Accounting Standards Board (SASB) in the Real Estate and Real Estate services
industry
2. Conducted a focus group discussion with management representatives from each
business unit to validate sustainability material topics and risks
3. Carried out a survey to prioritize sustainability risks based on both their financial
materiality (potential impact on our business) and impact materiality (potential
impact on the environment and society)
4. The prioritized risks were reviewed by the ESG working group and approved by the
ESG Committee
A detailed description of our sustainability-related risks and opportunities can be found
in the following tables.
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Sustainability-related Risks Impact Materiality Financial Materiality
Building energy performance is a notable driver of tenant demand, because it allows tenants
Building energy performance is a key factor influencing tenant demand. We recognize energy-efficient
to control operating costs. Entities that effectively manage asset energy performance may
Tenant Demand and resource-conscious buildings being increasingly sought after. Implementing energy efficiency
realize an increase in tenant demand. Rental rates and occupancy rates, all of which drive
initiatives directly reduces the amount of carbon emissions we generate through building use
revenue and asset value appreciation
Our buildings consume significant amounts of water in their operations, through water fixtures,
Water consumption operating costs may be significant depending on property type, tenant
Resource Consumption - Water building equipment, appliances and irrigation. In water-stressed regions, excessive water use can
operations, geographical locations and other factors.
deplete fresh-water resources and damage fragile ecosystems
Energy costs may be borne by entities or property occupants. As a real estate owner
Our real estate assets consume significant amounts of energy. Energy consumption is a significant
Resource Consumption - Energy that assumes direct responsibility for energy costs, such costs often represent significant
contributor to greenhouse gas emissions and environmental degradation
operating costs
Energy pricing volatility, a general trend of electricity price increases and energy-related regulations Increased and uncertain energy costs or regulations can erode profit margins, making our
Energy Related Regulations
can disrupt operations leading to potential output reductions or supply chain disruption business less competitive in the market.
The current labor market is becoming increasingly competitive, with more organizations vying for the Hiring employees who lack the necessary skills and experience can require substantial
Labor Practices - Hiring
same talent. This heightened competition can lead to a shrinking pool of qualified candidates training and development investments
A reputation for discrimination or a lack of diversity creates a negative brand image and may actively Investors who prioritize environmental, social, and governance (ESG) factors may be less
Labor Practices - Diversity
discourage talented individuals from seeking employment inclined to invest in companies with poor diversity and inclusion practices
We recognize the importance of training our employees, investing in their development is crucial for The lack of proper training for employees can have significant financial implications. The
Labor Practices - Training both individual growth and organizational success. By providing comprehensive training programs, we increased need for supervision, coupled with potential errors and the resulting rework,
empower our employees to acquire new skills and perform at their highest potential. directly contributes to higher labor costs
Legal proceedings can also lead to costs, such as management time diverted from core
Negative publicity and a decline in public trust can severely damage our company's brand image,
Fines & Penalties from fraud business activities, reputational damage that impacts business opportunities, and potential
eroding consumer confidence and impacting customer loyalty
fines or penalties if the company is found liable
A high incidence of workplace injuries and illnesses puts a significant strain on local healthcare
systems. This increased demand can divert resources away from other essential healthcare needs Employee absences stemming from occupational health and safety incidents directly
Health & Safety
within the community, potentially impacting the availability and quality of care for non-work-related diminish overall productivity by reducing available workforce hours and disrupting workflows.
health issues
Cybersecurity is essential for safeguarding sensitive personal information from theft and misuse. Data Cybersecurity incidents can erode public trust in our business, leading to brand reputation
Cyber Security
breaches can lead to identity theft, financial fraud, and emotional distress damage and a loss of customers
Some jurisdictions create financial incentives or penalties that are dependent on quality-of-
We may improve health care outcomes and preserve brand value by developing programmes to care outcomes. Serious reportable events and unplanned readmissions may provide insight
Quality of Care
reduce excessive patient readmission rates and hospital-acquired conditions into the extent and timing of the associated impacts on revenue, reputation, and cost of
capital.
Healthy ecosystems are linked with the economic and financial performance of local communities
Poor environmental protection practices may preclude hotels from obtaining new
and businesses. The influx of tourists and the resulting waste generated by hotels may present risks
Other Ecological Impacts construction licences in these sensitive areas and could, in the long term, diminish natural
to sensitive ecosystems such as coral reefs and nature preserves. Our housing and commercial
attractions for tourists that generate revenue for communities and hotels
construction can also have a negative impact on the environment.
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Sustainability-related
Sustainability-related opportunities description and potential impact Strategies to capture opportunities
opportunities
Manage and monitor energy consumption by leveraging our ESG data management platform. Modernize our building infrastructure by retrofitting existing structures and replacing
Resource Consumption - Energy Conduct energy audits to identify areas of improvement, in-depth hotspot analysis to pinpoint energy outdated equipment with energy-efficient alternatives. These improvements significantly
waste, and the development of strategies to unlock potential cost and energy savings reduce energy consumption, leading to lower operating costs and a smaller carbon footprint
Ensure that cybersecurity measures are integrated throughout all business units and the supply chain.
Educate employees and customers about responsible technology use and data handling.
Cyber Security Potential Impact includes improved supply chain resilience, enhanced brand trust and customer
Establish policies designed to safeguard customer and client data.
loyalty.
CLI M A T E R E L AT E D RIS K AN D O P P O RTUNI TI E S (CRRO ) SUSTA I NA B I LITY R EL ATED R IS K AN D OPPOR TUN ITIES (S R R O)
Greater expectations /
demand from Cyber Security
customers / investors Heavy precipitation Resource Consumpstion
for more sustainable
AFFORDABLE HOUSING (Storms) (Energy)
products & services
Disruption of new
2030 TARGET 2024 PERFORMANCE Floods
(low emission
technology) Labor Practices - Hiring
At least 90% of sold homes 95.5% of sold homes
priced under Rp 2 billion1 priced under Rp 2 billion
each year
Tenant Demand
Financial Materiality
Financial Materiality
Higher Temperatures Resource Consumption
(Water)
Droughts
Ecological Impacts
Landslides Energy Related
Increase in
energy costs Regulations
Extreme waves & coastal
abrasion (rising sea levels) Fines & Penalties
Increase in cost of
From Fraud
materials & equipment
Labor Practices
(Training)
More stringent
carbon tax More stringent Quality of Care Labor Practices Health & Safety
building regulations (Diversity)
Impact Materiality Impact Materiality
Enhancing Quality of Life Investing in Our People
Physical Risk Transition Risk
Caring for Our Environment Championing Best Practices
Moderately Material Highly Material Critically Material Moderately Material Highly Material Critically Material
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Climate Scenario Analysis In a RCP 2.6 scenario, which represents a best-case PHYSICAL RISKS
In 2023, we conducted climate scenario analysis, scenario, global greenhouse gas emissions are stabilized
Flood Droughts
forecasting the potential impact of identified physical by mid-century, limiting the average global temperature Landslide Extreme waves & coastal
and transition risks on our businesses, investments, increase to around 2°C above pre-industrial levels. Extreme variability in weather
abrasion (risen sea levels)
patterns and precipitation Heat stress
and assets. The scenarios analysis exercise covers the Intensive climate policies would be required over the
patterns
organization’s resilience over two RCP4 scenarios @– next few years globally, including the participation
TRANSITION RISKS5
RCP 2.6 and RCP 8.5. Our model and evaluation are of underdeveloped countries with assistance of
based on climate scenario RCP 2.6 and RCP 8.5, where governmental aid or a developed, wealthy nation to Disruption of new (low emission) technology
Greater expectations and demand from customers and investors for more
global temperatures are limited to 2°C and 4°C by 2100 achieve those climate change reduction policies. In this
sustainable products and services
respectively. Our time horizons cover 2030, aligning with scenario, transition risks are prevalent, and physical risks
our Sustainability Agenda and 2100, adhering to TCFD are low as significant effort and measures are taken to
PHYSICAL RISK
best practices. As part of our scenario analysis, we have mitigate climate change, strict regulation and policies Year
Extreme Heat Sea Level
Flood Landslide Drought
also collected physical risk impacts from all business units are required for global temperatures being limited to 2°C Weather stress Rise
2030
and examined the risks that have affected us in recent by 2100.
2100
years. The aim is to assess the financial implications of
2030
these physical risks, identify the most common risks In a RCP 8.5 scenario, which represents a worst-case
affecting us, and develop strategies to mitigate or adapt scenario where greenhouse gas emissions continue to 2100
to them. rise rapidly throughout the century, leading to a much
TRANSITION RISK
higher level of global warming. We face an average global
Year Greater expectations and demand
Country Level Analysis – Physical & Transition Risks temperature increase of 4°C or more by the end of the Disruption of new (low emission) from customers and investors for
technology more sustainable products and
At country level, we identified the potential impact century. In this scenario, physical risks are prevalent, and services
of transition and physical risks in 2030 and 2100 by transition risks are low as RCP 8.5 assumes a trajectory 2030
using external data sources such as Buku Indeks Risiko with a significant increase in greenhouse gas emissions, 2100
Bencana Indonesia (IRBI), Climate Central, Climate particularly carbon dioxide. This results in a more 2030
Knowledge Portal, INFORM Risk Index, and Aqueduct. pronounced warming effect on the Earth’s climate and 2100
Please refer to “Appendix - Climate Scenario Analysis” on secondary effects of other physical risks such as flooding
LEG EN D
page 105 for more details on the potential impact of each and heavy precipitation are increased. RCP 2.6 scenario Low
physical and transition risk in Indonesia. RCP 8.5 scenario Medium
High
4
Representative Concentration Pathways (RCPs) are a set of scenarios that describe possible future changes in greenhouse gas concentrations in the atmosphere. These scenarios are used by climate scientists to model how the Earth’s climate might change in
the future. The Intergovernmental Panel on Climate Change (IPCC) developed the RCPs. They are not predictions, but simulations that help scientists understand how the climate might change depending on our emissions choices. The IPCC uses four main RCPs,
ranging from very low emissions (RCP 2.6) to very high emissions (RCP 8.5). Each scenario translates into a potential range of global temperature increase by 2100.
5
In the climate risk assessment conducted last year, we examined additional transition risks, including the implications of a more stringent carbon tax, enhanced building regulations, increasing energy costs, and increased costs for materials and equipment.
After thorough analysis, it was determined that these transition risks are not significant for our particular sectors in Indonesia based on existing policies and regulations in the near to mid-term. We commit to regularly reviewing and monitoring any shifts in the
landscape, updating our climate risk evaluations annually.
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Risk Management [IFRS S1-44] [IFRS S2-25]
Climate Risk Impact Under Scenarios
We have a well-established process to identify, manage,
and monitor risks. Climate, sustainability and operational
risks are assessed at the business unit level, by type of
asset/operation and geographical location. The Group
C LI M ATE RI S K I M PACT
Sustainability and Group Risk Management Functions
collaborate to liaise with the respective Risk Owners who
are responsible for identifying and monitoring risks within
their businesses. All risks identified are included in our risk
register, and risks are prioritized based on an impact &
probability assessment. Subsequently, the Risk Manager
presents the results of risk identification, assessment
and treatment to their respective Senior Management.
His torical 2030 2100 The BoD and BoC oversee the implementation of
Y EAR
risk management and regularly engage with Senior
RCP 2 .6 Tra nsi ti on Ri sk RC P 8.5 Transition Risk Management teams to review the business strategy.
RCP 2 .6 P hysi ca l Ri sk RC P 8.5 Phy sical Risk
Our approach to climate and sustainability risk
management is based on the TCFD Recommendations,
Property Level Analysis – Physical Risks The accuracy of these calculations and results was COSO ERM Framework and ISO 3100 Risk Management.
In addition, we analyzed the impact of physical risk on a verified through cross-referencing with historical data. Climate risks are integrated in our ERM framework,
total of 113 managed properties (including hotels, offices, Our recent records indicate that we have frequently which consists of comprehensive risk management
townships, malls, and hospitals) under a RCP 8.5 scenario. experienced the impact of extreme weather patterns policies and processes, as well as risk monitoring and
In our risk assessment process, we analyzed each physical and floods. On the other hand, landslides and sea level control processes. Climate and sustainability risks are
risk on a location-specific basis, and these risk scores rises have occurred less frequently, but the associated specifically tabled at the ESG Committee meeting for
were then used to calculate an aggregated risk index. repair costs for damage caused by landslides and sea in-depth discussion, including strategies and plans to
To further validate our projections at the property level, level rise are substantial. Considering these findings, it mitigate these risks. Regular risk training and workshops
we conducted a review on all physical risks that have is imperative that we proactively adapt to physical risks are also conducted for both Senior Management and
impacted our business in 2022 and 2023. The purpose of to mitigate costs and minimize the impact on assets. We Risk Managers. As we transition to ISSB reporting this
this review was to understand the impact of physical risks will continue to study the frequency and impact of these year, several trainings and workshops were held to focus
on business disruption, categorize the severity of these physical risks closely going forward. on the identification and assessment of sustainability
risks and determine any associated financial implications. risks and opportunities.
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Management Response
We have re-calibrated our management responses based on this year’s review of the effectiveness of our existing measures to reduce the frequency and severity of climate risks
(mitigation) as well as minimize the damage and take advantage of opportunities arising from climate change (adaptation).
Mitigation & Adaptation Response
Risk
Short Term Long Term
Flood • Early warning systems • Install structural protection measures such as dams, flood barriers, etc
• Update flood management SOPs • Risk informed land planning: consider adopting elevated designs, resilient infrastructure,
• Partnerships with government and local communities to prepare for flooding scenarios nature-based solutions, and sustainable building practices to mitigate potential flooding
and improve communication impacts
• More proactive water pumping (Storm Water Flooding Dewatering Pumps)
• More frequent checks to ensure canals and drains are unclogged
• Obtain comprehensive property insurance that provides coverage for both property
damage and social damage to safeguard against direct physical losses to property while
also addressing potential liabilities related to the social impacts of our activities
Landslide • Early warning systems • Identify landslide-prone risk areas, avoid building in these areas
• Locate high-risk properties in landslide-prone areas and prepare evacuation plans • Install monitoring equipment at landslide prone areas
• Partnerships with government or local communities to prepare for landslide scenarios
• Consult external experts to identify and evaluate landslide-prone risk areas, and to
reinforce these areas prior to any development
• Obtain comprehensive property insurance that provides coverage for both property
damage and social damage to safeguard against direct physical losses to property while
PHYSICAL RISKS
also addressing potential liabilities related to the social impacts of our activities
Extreme variability in weather • Early warning systems • Forecasting the potential impact of these events and incorporating the anticipated
patterns and precipitation • Update storm management SOPs financial costs associated with extreme weather events into the planning and investment
patterns • Regular building inspection and maintenance, especially facades phases of a project
• Obtain comprehensive property insurance that provides coverage for both property
damage and social damage to safeguard against direct physical losses to property while
also addressing potential liabilities related to the social impacts of our activities
Droughts • Implement comprehensive water-saving initiatives to address water conservation and • Build infrastructure and water reserve projects that focus on capturing and storing
reduce overall water consumption rainwater for later use
• Expand wastewater recycling and rainwater harvesting operations
Extreme waves & coastal • Monitoring and evaluate the impact and cost of abrasion • In-depth evaluation and reconsider property development in areas that are projected to
abrasion (rising sea levels) be impacted by rising sea levels by the year 2100
• Implement adaptable measures such as shoreline protection methods (e.g. construction
of man-made structures, such as jetties, breakwaters, groins, and seawalls)
Heat stress • Regular building inspection and maintenance, especially for cooling systems • More prevalent technology-assisted heat stress monitoring and thermometers
• Establish and enforce comprehensive heat stress policies and guidelines. These • Explore designs for green developments/townships which encourage more tree cover,
documents outline specific protocols for working in high-temperature conditions (e.g. natural ventilation, covered walkways, etc
scheduled breaks, hydration measures, adjustments to work schedules) to prevent heat-
related illnesses
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Mitigation & Adaptation Response
Risk
Short Term Long Term
Disruption of new (low • Review current equipment to identify which are energy-intensive and require replacement • Increase CAPEX allocation in favour of low-emission technologies
emission) technology • Monitor technological advancements and switch to new low-emission technology that • Whitelist energy-efficient equipment for procurement teams to encourage adoption
TRANSITION RISKS
can reduce energy consumption and costs
• Diversify the energy mix to reduce dependence on high-emission equipment or a single
low-emission technology
Greater expectations and • Engage frequently with customers and investors to gauge appetite for green and • Incorporate green building principles into planning and design standards
demand from customers and sustainable products • Conduct thorough lifecycle assessments of products and services to identify and minimize
investors for more sustainable • Conduct gap analysis of housing products and building assets based on green certification environmental impacts
products and services standards
Resource consumption - Energy • Educate employees and customers on short term strategies to lower energy consumption • Invest in energy efficient appliances and retro fit buildings with low emission technology
such as: • Build and implement a group wide decarbonization strategy
◊ Turning off lights and air-conditioning when leaving a room.
SUSTAINABILITY RISKS
◊ Unplugging electronics and appliances when not in use.
◊ Adjust thermostat settings to energy-saving temperatures
Cyber Security • Educate employees and customers on Core Cybersecurity Concepts such as: • Establishing a Zero Trust Architecture, assuming no implicit trust. Where every user,
◊ Identifying spam, phishing messages or malware device, and application must be authenticated and authorized before accessing any
◊ Data protection through strong passwords, file encryption, firewall updates or secured resource
wifi usage • Establish an IT team for checks on Vulnerability Management
◊ Physical security through locking laptops and protecting access badges • Conduct external cyber security review using proven framework
◊ Established IT team for checks on Vulnerability Management. Continuously identifying,
assessing, and remediating vulnerabilities in systems and applications
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Metrics & Targets [IFRS S1-46,51] [IFRS S2-29,33,34,35,36] included in our consolidated financial results for the These refinements ensure that our sustainability
period of June to December 2024. This exclusion extends commitments remain ambitious while reflecting
We have set measurable ESG targets under our to all quantitative performance metrics except for PASTI evolving operational realities.
Sustainability Agenda to drive ambition and activities.6 Hence, we have taken the opportunity to
accountability in climate action, social impact, and good review our targets and make revisions that are better Looking ahead, we have set new long-term sustainability
corporate governance. Our Sustainability Agenda aligns aligned with LPKR’s new operational footprint. targets, including supporting one million beneficiaries
our corporate policies and business growth plans with through PASTI by 2030, certifying 600,000 square meters
our sustainability objectives and strategy to ensure that Following the successful achievement of key of our asset portfolio as green buildings, and installing
we take a longer-term view on ESG as we transition sustainability targets, we have raised our goals for water 5,000 kWp of solar photovoltaic capacity. These goals
towards a more sustainable future. In particular, we seek consumption from sustainable sources to at least 30% reinforce our commitment to social impact, sustainable
to support the Indonesian Government’s sustainability each year and increased our treated water target to at development, and renewable energy adoption, driving
agenda, including Indonesia’s Enhanced Nationally least 1,000,000 cubic meters each year. At the same time, meaningful change in the years to come.
Determined Contributions. All ESG targets are approved the deconsolidation of Siloam has led to a significant
by the ESG Committee and subsequently tabled for decrease in the number of employees and manhours, For our 2024 ESG performance against our 2030 targets,
approval by the BoD and BoC. which has adjustments in our operational emissions please refer to pages 17. For the full breakdown of our ESG
baseline, a shift from TRIFR to an LTIFR target of ≤1, and performance, including historical comparisons, please
Due to the partial deconsolidation of Siloam from our a revision of training targets to 15 average hours per refer to “Appendix – Environmental Data” and “Appendix
financial reporting, Siloam’s performance is no longer employee and 1,000 ESG training hours annually. – Workforce Data” on pages 101.
6
As 2024 is our transition year, we continue to consolidate Siloam’s performance as part of our environmental performance. We will re-baseline our environmental performance excluding Siloam from 2025 onwards.
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ENHANCING
QUALITY OF LIFE
At Lippo Karawaci, we are in the business of creating urban
ecosystems for quality living. We are committed to driving
sustainable economic growth and job creation through our
business operations, as well as uplifting the local businesses and
communities whom we partner with. We constantly innovate to
improve our offerings and strive to build trust through customer
service and satisfaction.
Economic Contribution
Community Support & Engagement
Product Innovation
Customer Service & Satisfaction
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ECONOMIC CONTRIBUTION
EC ON OM I C P E RF O R M A N C E [OJK C.3, F.2, F.3] [GRI 201]
Financial Highlights (IDR Billion) 2022 2023 2024
Revenue 14,808.57 16,990.09 11,505
As Indonesia’s largest real estate and healthcare operator by
geographic footprint, we are privileged to be able to serve almost Net Profit/Loss (2,692.08) 50.14 18,727
265 million customers in 26 provinces and 56 cities. Through our Operating Costs 2,842.78 3,026.90 3,182.81
business operations, we create direct economic value and jobs for
Employee wages and benefit liabilities 1,459.43 1,511.98 1,107.56
the Indonesian economy, while generating indirect socioeconomic
Post-employment benefits 297.99 325.99 166.28
impact that benefits various stakeholders within our ecosystem.
Payments to providers of capital 1,981.38 1,929.59 1,063.56
Direct Economic Contribution Payments to government 633.89 849.90 752.63
Share buybacks + dividend payments 111.43 125.59 22.27
In 2024, LPKR reported IDR 11.5 trillion in revenue, reflecting a lower
Assets 49,870.90 49,570.82 53,783.86
YoY figure due to the deconsolidation of its subsidiary, PT Siloam
Liabilities 30,731.01 29,964.39 22,836.79
International Hospitals Tbk from June 2024. Assuming a full year of
financial consolidation from Siloam in its Proforma P&L, LPKR would Equity 19,139.89 19,606.43 30,947.07
have achieved IDR 18.5 trillion in revenue, up 10% YoY. Our Real Estate
Direct economic value generated = Revenue
segment achieved a new record of IDR 6.01 trillion in marketing sales,
Economic value distributed = ∑ Net profit/loss, operating costs, employee wages and benefits, payments to providers of capital, payments to
exceeding the annual target by 12%. Similarly, our Healthcare segment government by country, and community investments
showed sustained growth, reflected in its 9% YoY revenue growth and Economic value retained = [Direct economic value generated] - [Economic value distributed]
7% YoY increase in both inpatient admissions and outpatient visits.
Business Segment Business Unit Sub-Categories Customers Served
Our Lifestyle segment demonstrated significant improvement with
34% YoY EBITDA growth due to the stronger operational performance Residents in Lippo Village Township 68,000
Lippo Karawaci
and cost management of our mall and hotel businesses. Overall, Residents in Integrated Developments 9,000
Real Estate
LPKR reported a remarkable turnaround in profitability, largely driven Lippo Cikarang Residents in Lippo Cikarang Township 72,000
by solid performance in core business segments and benefits from
Gowa Makassar Tourism Development Residents in Tanjung Bunga Township 27,000
strategic deleveraging initiatives. For a detailed breakdown of our
In-patients 326,000
financial performance, please refer to the following sections of our
Healthcare Siloam Hospitals
2024 Annual Report – “Financial Highlights”, “Management Report”, Out-patients 4,244,000
“Management Discussion and Analysis”, and “Consolidated Financial Lippo Malls Visitors 260,000,000
Lifestyle
Statements”.
Aryaduta Hotels Guests 939,000
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Indirect Economic Contribution Residential Sales (% by units)
The impact generated by our economic activities extends 100%
0.2% 0.1% 0.5%
beyond just financial. We believe that it is our duty to deliver 2.8% 4.0% 4.0%
positive socioeconomic impact to our customers, as well 95%
as our business partners and the local communities in the
regions where we operate. 90%
85% 97% 96% 95.5%
Affordability and Accessibility
80%
Housing and healthcare are two of the most fundamental
human needs, but there remains a great unmet need for
75%
affordable housing and quality healthcare throughout 2022 2023 2024
Indonesia. This is why we prioritize affordability and
< IDR 2 billion IDR 2 billion - 5 billion > IDR 5 billion
accessibility in our real estate and healthcare offers.
Since 2020, we have made the strategic decision to focus
Commitment to Providing Quality Living for First Time Buyers
on developing housing products which cater to the needs
of first-home owners, especially millennials. This includes Indonesia’s property market remains strong, with a housing backlog of
pricing our housing products affordably, at a price point of 12.71 million units. To close this gap, at least 1.5 million homes per year
under IDR 2 billion. Going forward, we are committed to must be built to meet the growing demand. This requires innovative
maintaining our track record of at least 90% of home sales solutions and industry collaboration to sustain a pipeline of accessible and
priced under IDR 2 billion every year. sustainable housing development.
In our Healthcare segment, we are dedicated to delivering Our Company continues to contribute to property market growth by
healthcare services in regions across Indonesia and focusing developing high-quality residential and commercial properties. In 2024, we
on areas where quality healthcare may face accessibility successfully sold 6,851 units in total, of which just over 5,000 were landed
challenges. Our commitment extends to establishing a residential units. By offering affordable, well-designed living spaces, we
healthcare network that covers over 60% of the country’s aim to support young buyers in achieving homeownership and long-term
provinces. Affordability and accessibility remain a priority, investment opportunities with flagship projects such as Cendana Homes,
with more than 40% of our hospital portfolio situated XYZ Livin, and Waterfront Uptown driving the majority of sales.
outside of Java. To date, Siloam’s portfolio includes hospitals
and clinics in 23 out of 38 (61%) provinces in Indonesia, with
19 out of 41 hospitals (46%) located outside of Java.
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Siloam has played an active role in providing healthcare At present, we have 9 CoEs which provide top-class For our Healthcare segment, Siloam works closely with
services to the rural and remote areas of Eastern medical treatment in the following healthcare specialties: specialist doctors and dentists throughout the country to
Indonesia, including in Papua. To date, Siloam operates Cardiology, Oncology, Neuroscience, Digestive, provide quality healthcare services at our hospitals. These
7 community clinics in remote mountainous villages Orthopedic, Fertility, Pediatric, Cosmetic and a Kidney doctors and dentists are not directly employed by us,
in Papua, bringing quality healthcare services to Transplant Center. but practice at our hospitals on a full-time or part-time
extremely inaccessible locations. All healthcare services basis, supported by our medical facilities, equipment and
at these Papua clinics are provided free-of-charge, and I NDI RE CT JO B CRE A TI O N nursing staff. Through our Lifestyle segment, we support
include basic medical services such as immunizations, thousands of tenants who, in turn, employ more people
blood pressure check-ups, first aid services, stunting Our economic contribution also extends to the jobs in their operations. In addition to engaging casual leasing
assessments, screenings for tuberculosis and HIV, as well created through our larger ecosystem of business tenants, many of whom are MSMEs, we actively support
as home visits and local community health education partners, including contractors, suppliers, vendors, and local businesses by providing them with retail spaces
programs. In 2024, we served over 24,490 patients at our tenants. In the course of our business operations, we and curated events where they can sell their goods
community clinics in Papua and received an award from strive to contribute to the local economy by working with and services.
Fortune Indonesia. people and partners based in our areas of operation as
far as possible.
We also serve the Indonesian public through Badan
Penyelenggara Jaminan Sosial (BPJS) Kesehatan, the Under our Real Estate segment, we have been working
Indonesian government’s health insurance scheme. with vendors and outsourcing companies to actively
Siloam has been expanding its network of BPJS- hire from within our townships to support our Town
licensed hospitals to make its services available to more Management Division (TMD) operations. In addition,
patients who are unable to fully pay out of pocket or within our Lippo Cikarang and Tanjung Bunga townships,
are not covered by private insurance. Out of our 41 all the tenants in our commercial areas are local Micro,
hospitals, 29 treat BPJS patients, with around 2 million Small, and Medium Enterprises (MSMEs). For example,
BPJS patients treated in 2024. Siloam also operates 30 Lippo Cikarang demonstrates its dedication to food
community clinics nationwide, all of which are either security by actively collaborating with local MSMEs to
licensed to cater to BPJS patients or offer healthcare distribute rice. Similarly, Lippo Village partners with local
services free of charge. For additional information on MSMEs, offer subsidized-priced rice to residents in and
Siloam’s community healthcare initiatives, please refer to around township. The Pasar Beras Murah event by GMTD,
“Community Support & Engagement” on page 44. aimed to support food security and ease the economic
burden on the community supported by MSMEs.
Siloam has established “Centers of Excellence” (CoEs)
which cater to specific health issues and medical
29/41 23/72 ~2 million 18.2%
conditions prevalent in certain regions in Indonesia. BPJS hospitals BPJS clinics BPJS patients served BPJS revenue
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Empowering Local Communities
Asta Karya Program
The Asta Karya program highlights Indonesia’s rich cultural traditions, with the 2024 theme focusing on Batik across all Aryaduta
units. Designed to promote cultural appreciation while supporting local MSMEs, this initiative brings together communities, artisans,
and hospitality experiences. At Aryaduta Pekanbaru, the program featured a collaboration with Galeri Batik Riau, showcasing a
fashion show that celebrated local craftsmanship. The event also included a talk show with SLB Pembina Pekanbaru and a canting
batik workshop, allowing participants to engage in the intricate art of batik-making. Similarly, Aryaduta Manado partnered with
Wale Batik Minahasa, a local batik community, to host an educational session where students from SMK1 Manado, Politeknik
Negeri Manado, STIPAR Manado, and SMK Pariwisata Manado were introduced to the traditional techniques of batik-making. This
hands-on experience aimed to foster a deeper appreciation for Indonesia’s cultural heritage among younger generations. Through
these activities, Asta Karya reinforces Aryaduta’s commitment to heritage preservation, community engagement, and sustainable
business empowerment, ensuring that local traditions continue to thrive in a modern landscape.
LOC A L P R OCU R E M E N T procurement expenditure directed towards them. As bathroom dry amenities, and laundry baskets from local
an iconically Indonesian hospitality group, Aryaduta artisans. For marketing materials, such as packaging and
We recognize our significant role in influencing the prioritizes local suppliers and source internationally only paper bags, we work with local manufacturers. To further
sustainability landscape in Indonesia. This stems from when products are unavailable or do not meet quality promote small businesses, we invite MSMEs to showcase
our close collaborations with a diverse range of suppliers, standards. For operations, we rely on combination of local and sell their products in designated MSME corners
vendors, contractors, and service providers daily. The and foreign chemicals only when they are not available in within our properties. In our real estate, we are dedicated
supply chain for the Real Estate, Healthcare, and Lifestyle Indonesia. We also work with leading global suppliers for to fostering strong relationships with local communities
industries encompasses the processes and activities technology infrastructure. and businesses. For example, we conduct events
involved in sourcing, producing, and delivering goods throughout the year in Lippo Cikarang such as “Express
and services within these sectors. We are committed In 2024, we supported a total of 9,676 MSMEs across our Your Independence” which provides a platform for local
to ethical sourcing, applying responsible procurement business operations. These diverse initiatives, spanning MSMEs to showcase their products and services and
practices and supporting local suppliers in all aspects of employment opportunities, food security programs, weekly “Sunday Market” which provides an opportunity
our operations. and access to affordable essentials, underscore Lippo’s for local Bekasi Regency vendors to share their culinary
multifaceted approach to community support and its creations with the community. Lippo Village assisted in
Through local sourcing, we can make a direct contribution dedication to making a positive impact on the lives donating cement for a mosque, supporting a stunting
to the national economy and job market. It also enables of those it serves. We actively support local vendors by prevention program, these initiatives across Lippo’s
us to reduce the generation of Scope 3 emissions in the sourcing fresh produce from nearby suppliers, including developments demonstrate a holistic approach to
transportation of supplies. Across the Group, 99.7% of vegetables, fruits, herbal drinks, local snacks, poultry, community engagement and economic empowerment.
our suppliers are Indonesian, with the majority of our and seafood. In addition, we procure decorations,
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COMMUNITY SUPPORT & ENGAGEMENT [OJK F.1, F.23-25]
We strive to create a culture of volunteering, aiming
Lippo untuk Indonesia PASTI (Pintar, Asri, Sejahtera, Tangguh, Independen)
to create a positive and significant social impact in
embodies the firm and bold spirit that drives our holistic advancement of
the regions where we are active. For us, community
Indonesia’s sustainability agenda. We are committed to enhancing our quality of
support goes beyond mere philanthropy; it serves
life for all stakeholders in our ecosystem, to secure a brighter outlook for future
to cultivate and strengthen relationships with our
generations.
stakeholders. This year, we have actively promoted
employee volunteering in support of meaningful
causes and encourage the exploration of innovative
ways to engage with our communities across
Education Environment Social Health Economic
various touchpoints. All of our initiatives under
PASTI support Indonesia’s sustainability agenda
and the UN SDGs, as well as the needs of the local P IN TA R ASRI S EJ AHT ERA T ANGGU H IND EPEND EN
communities we serve. In 2024, we conducted
Scholarships Nature Conservation Philanthropy Community MSME Empowerment
1,049 community engagement programs and
Health Services
activities across our business operations under
Vocational Training & Waste and Water Community Welfare Local Economic
PASTI programs. In total, we spent over IDR 40 Skills Development Management & Engagement Health Awareness Development
billion to fund these activities. As part of our
2030 Sustainability Agenda, we aim to support a Educational Support Environmental Humanitarian Aid Vaccination & Entrepreneurship
Awareness Blood Drives
cumulative total of 5,000 community activities and
1 million beneficiaries through PASTI by 2030.
Provide access to Reduce ecological Support philanthropic Improve community Empower MSMEs and
quality education footprint and raise causes and community health and well-being local economies
environmental events
awareness
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HIGHLIGHTS
1,049 Activities 122,842 Beneficiaries IDR 40B+ 43 Cities
under PASTI supported by PASTI total CSR spending PASTI activity footprint
Environment Education
61 Environmental Campaigns 263 Training & Educational Programs
19,000+ participants in tree planting,
20,000+ beneficiaries in vocational training, school
beach clean-ups, and environmental
engagements, and scholarship programs
awareness events
Economic
Social 4,000+ MSMEs
53 events organized by malls, hotels, and
townships to provide a platform for MSMEs
31,000+ Beneficiaries and local economic empowerment
Health
193 philanthropic activities including
humanitarian aid and community
welfare programs 3,000 Blood Bags Collected
14,000+ blood donors registrant in 158
blood donation drives across townships,
malls, hospitals, and hotels
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P INTAR Education
ASRI Environment
S EJ A HTERA Social
Lippo Cikarang Mengajar Aryaduta Nature Conservation LippoLand Community Welfare and Engagement
Engaging Schools, Inspiring Futures Actions to Safeguard Shoreline Habitats Clean Water and Food Assistance for Communities
As part of its commitment to education in Indonesia, Lippo As part of its ongoing sustainability initiatives, Aryaduta Lippo demonstrates its commitment to community well-
Cikarang launched the Lippo Cikarang Mengajar program, organized a Mangrove Planting and Beach Cleaning event being and interfaith harmony through a variety of initiatives.
targeting elementary schools near the company’s area. at Tanjung Pasir, in collaboration with the Penjaga Laut During the dry season, several areas in Bekasi experienced
The program took place four times in 2024, with sessions Community. This event was a key highlight of Aryaduta’s water shortages. In response, LPCK provided 5,000 liters
held at 4 elementary schools, SDN Cicau 01, SDN Cibatu 02, 50th anniversary celebrations, reinforcing the company’s of clean water to Sukamukti Village, Bojongmangu. This
SDN Cibatu 03, and SDN Cibatu 01. Through this initiative, commitment to environmental conservation. During the initiative aimed to support the local community by ensuring
around 10 employees volunteer as teachers, fostering a event, participants planted 1,000 mangrove seedlings and access to clean water for their daily needs.
spirit of volunteerism while educating students on waste conducted a comprehensive beach clean-up to support the
management and the impact of plastic waste. sustainability of coastal ecosystems. These activities aimed to Meanwhile, as part of GMTD’s commitment to social
restore vital mangrove habitats and promote environmental responsibility, the company organized the “Jumat Berbagi”
The program offers hands-on activities to help students awareness among volunteers and the local community. (Friday Sharing) program this year, in Tanjung Bunga,
recognize eco-friendly plastics and explore biodegradable Makassar. This initiative provided food packages to 100 low-
alternatives like cassava-based plastics. At the end of each In Bali, Aryaduta partnered with the Bali Hotel Association income residents per event, helping them meet their daily
session, Lippo Cikarang donates two PCs to each school to (BHA) for a large-scale beach cleanup initiative, with four needs. In addition, GMTD employees volunteered to distribute
support teaching and administrative needs, and distributes participating hotels and 120 volunteers coming together food packages to 50 residents, easing their economic
books donated by employees to enrich reading materials. to preserve the island’s coastal beauty. Furthering its burden. The program was well received, reinforcing GMTD’s
dedication to marine conservation, Aryaduta collaborated positive relationship with the community.
Lippo Cikarang Mengajar also inspires students to explore with Yes Go Indonesia Action (YGIA), to conduct a cleanup
career opportunities and their future aspirations. Both at Nain Island and deliver waste education programs for Finally, in Sekolah Dian Harapan, Lippo extended its care by
students and teachers highly value the program for raising children in the Bunaken Area, Manado. This initiative aimed distributing Eid gift packages to orphans, underprivileged
environmental awareness and enhancing educational to ignite environmental awareness in local communities individuals, and the elderly, bringing joy and support to
resources. while promoting responsible waste management practices. vulnerable members of the community.
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T AN GGUH Health
INDEP ENDEN Economic
Siloam SELANGKAH Lippo Malls Empowering MSMEs
Advancing Breast Cancer Awareness and Free Screening Strengthening Local Communities Resilience
The fight against cancer is not just an individual battle, it • More beneficiaries screened: As of 2024, 27,841 women Lippo Malls partnered with the Bekasi Regency Tourism
is a collective effort that requires strong collaboration and have received free breast cancer screenings, exceeding Office to host the Gebyar Pariwisata dan Ekonomi Kreatif
commitment. As part of Siloam Hospitals Group’s ongoing last year’s figures. (GEBRAK) event at District 1 Meikarta. The event highlighted
dedication to cancer treatment and early detection in • Increased hospital participation: Expanding from 14 400 local and expatriate MSMEs, representing Korean,
Indonesia, we have expanded the SELANGKAH (SEmangat hospitals in 2023 to 21 participating hospital units (HUs) in Chinese, and Japanese communities. Attracting 3,000
LAwan KAnker) program in 2024, building on the successes 2024, with plans for further growth in the coming years. visitors, the event offered a variety of activities, including
of the previous year. • Enhanced accessibility: Conducting screenings in exhibitions, talk shows, a tourism content competition, group
Lembaga Pemasyarakatan Perempuan, Puskesmas, and gymnastics, and a parade. Lippo Malls played a key role in
Due to the overwhelmingly positive response from the underserved communities to reach those with limited the event’s success by providing the venue, operational
community, the SELANGKAH program has been extended healthcare options. support, and facilitating MSME onboarding. This successful
into 2024 with 21 participating hospitals. By the end of • Strengthened stakeholder partnerships: Collaborating event underscored the power of collaboration and LMI’s
the year, the program has successfully screened 27,841 with corporations, local governments, and community commitment to supporting MSMEs, the creative economy,
women across Indonesia, providing critical early detection organizations to expand outreach. tourism, and regional economic sustainability, with plans for
services to those in need. This year, we have also expanded • Integrated AI technology in some locations: Leveraging similar events in the future.
the breast ultrasound screening efforts by bringing the AI-assisted breast ultrasound screening for more precise
program directly to various locations, including Lembaga and efficient detection.
Pemasyarakatan Perempuan in multiple cities, Puskesmas, • Additional community engagement initiatives: Including
and other locations. educational campaigns, health talks, and workshops to
raise awareness on early detection.
These initiatives aim to reach women with limited healthcare
access and ensure that early detection becomes more
accessible to vulnerable populations. Key Improvements
from 2023 are the following:
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PR O D U CT I N N OVAT I O N [OJK F.26] Clinical Breakthroughs
Siloam Hospitals continues to achieve medical
In today’s dynamic business environment, innovation is high-profile launch of Cendana Suites, The Hive as well as excellence through specialized healthcare
key to delivering quality products and services that can our premium offering The Colony. We have also launched services. The ASRI Kidney Transplant Center has
meet our customers’ evolving needs and enhance our several new series such XYZ Livin, Q Livin, 9en Collection, successfully performed 413 kidney transplants,
market position in the long run. Our product innovation Q Series and Blackslate series in our townships. These offering life-saving treatments to patients in need.
strategy includes research and development to analyse new series offers diverse style, size and function for each In addition, MRCCC Siloam Hospitals Semanggi
and capitalize on the latest market trends, deepening our home buyer, for example Blackslate offers a helpers has been recognized as one of the best specialized
areas of specialty, as well as leveraging digital channels quarter and cleaning area enhancing convenience and hospitals, providing advanced cancer care and
and new partnerships to enhance our offerings. Our R&D privacy while 9en collections are able to accommodate innovative treatment options.
efforts help us to identify emerging needs so that we are families of different sizes.
well-positioned to provide the most relevant offerings. Siloam also strengthens its role in medical tourism,
At the same time, we are also constantly innovating Healthcare with BIMC Nusa Dua serving as a leading medical
to improve customer service and satisfaction – these tourism center for international patients seeking
initiatives are separately outlined on pages 51. Our Healthcare segment is dedicated to remaining at world-class healthcare. Meanwhile, the SHPL
the forefront of medical innovation and discovery. This Blastula IVF Clinic continues to support families
Real Estate commitment is demonstrated through the increasing with cutting-edge fertility treatments, reinforcing
integration of cutting-edge technologies like Artificial Siloam’s commitment to high-quality and
While our real estate development business has seen Intelligence (AI) to enhance diagnostics, treatment accessible medical care.
significant success with the Cendana Homes series, planning, and patient care. In addition, Siloam’s integrated
we have introduced several new housing products at Clinical Research Services (CRS) support the healthcare
diversified price points to cater to the different needs industry, collaborating with over 30 CROs (Contract
and lifestyles of the next generation of young urban Research Organization), academics, and sponsors with
dwellers. These products have been developed based 75% of collaborations coming from international partners.
on extensive market studies and ethnographic research
to better understand the various profiles of Indonesian This year Siloam has expanded with the establishment
millennials, including their living preferences and of an Advanced Cardiac Care Clinic, enhancing
broader life aspirations. Our overall approach to project cardiovascular services for patients. In addition, we have
development has evolved in recent years, as we move introduced new specialized neurological and oncological
away from designing individual home units to creating services, specifically Vagus Nerve Stimulation and
vibrant living environments centered around community Endoscopic Ultrasound-guided Radiofrequency Ablation,
building. Our diversified product range includes the marking significant advancements in patient care.
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Lifestyle Palembang Square is being revitalized with a focus
New Services Established on visitor comfort and accessibility improvements.
Our Lifestyle segment has pioneered new products and Cibubur Junction is leveraging its strategic location with
Siloam has expanded its service offerings with the
services, effectively meeting the evolving demands of modern design and customer-centric enhancements.
introduction of two advanced medical procedures:
our customer base. In 2024, we leveraged data analysis Finally, Lippo Plaza Ekalokasari Bogor is undergoing
Vagus Nerve Stimulation, a neurological
to enhance the experience for both visitors and tenants. improvements to its main entrance, atrium, and other
intervention, and Endoscopic Ultrasound-guided
Key initiatives focus on enhancing the customer key areas.
Radiofrequency Ablation, an innovative oncology
experience and optimizing operations through data-
treatment. These new services represent a
driven strategies. These include parking optimization For our hotels, Aryaduta focused on improving guest
significant step forward in patient care, providing
to increase mall traffic and promote public transport, experiences through reopening of facilities and culinary
specialized treatment options for neurological and
targeted marketing using customer data for personalized enhancements. Several properties reintroduced
oncological conditions.
engagement (piloted at Lippo Mall Puri), loyalty key amenities, such as RJ’s at Aryaduta Bandung, which
program enhancement by migrating the STYLES app now offers an upgraded entertainment experience
Siloam leverages AI to enhance healthcare
to the Zu platform, free parking campaigns informed by and the ARYA Club Lounge at Aryaduta Medan, which
efficiency, accuracy, and patient experience.
transaction data to encourage longer visits and spending provides elevated service. Dining spaces were expanded,
AI-powered medical record management
and gathering mall visitor insights via surveys and data with PAON at Aryaduta Kuta Bali offering beautiful ocean
streamlines documentation, enabling faster
analysis to improve marketing and event planning. views and Imperial Klub Golf extending its outdoor
diagnoses and reducing administrative burdens.
Significant renovations and revitalization efforts seating closer to the lake. Culinary innovations featured
AI-driven analytics and inventory management
were carried out at our real estate properties. For a shift to energy-efficient electric chafing dishes. Meeting
improve financial decision-making, automate
example, Plaza Semanggi is being transformed into spaces were modernized with digital signage, while
tracking, and optimize inventory processes. These
Lippo Mall Nusantara, a modern retail and cultural Aryaduta Country Club unveiled a refreshed lobby and
advancements benefit doctors, patients, and
destination featuring sky dining and a cultural center. the Panda Kids Club, creating a more welcoming and
management by enhancing communication,
family-friendly atmosphere.
reducing costs, and providing real-time insights.
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Business Intelligence Gajah Mada Plaza Park Serpong Beach Club
Lippo Malls leverages business intelligence to Established in 1982, Gajah Mada Plaza has undergone Park Serpong Beach Club offers a distinctive
improve decision-making and optimize marketing a comprehensive building rejuvenation process, hospitality experience, combining a thoughtfully
strategies across its mall portfolio. By analyzing including the redesign of interiors, usage of more curated selection of facilities to create a seamless
consumer behavior, foot traffic, and sales data, resource efficient equipment, and enhanced tenant blend of relaxation and functionality. Featuring a
Lippo Malls can identify trends and tailor strategies management. This transformation aims to offer a coffee shop, main dining restaurant, private pool,
to enhance tenant performance and customer new, more luxurious, and modern atmosphere. In chapel, and meeting rooms, the venue is designed
engagement. addition to revitalizing the physical structure, Gajah to cater to diverse guest needs while embracing a
Mada Plaza has introduced several supporting refined beachside ambiance. The atmosphere and
This data-driven approach allows Lippo Malls to facilities, including: menu selection are carefully crafted to align with
implement targeted promotions, personalized • Luxurious design upgrade the club’s coastal concept, enhancing the sense of
marketing, and efficient mall operations. By • Rooftop swimming pool tranquility and leisure. This versatile setting allows us
continuously refining strategies based on real- • Tenancy improvement to attract a wide range of market segments, making
time insights, Lippo Malls ensures its malls remain • Expanded food court it an ideal destination for social events, casual dining,
competitive, adaptive, and aligned with evolving • Future infrastructure integration private meetings, weddings, and family gatherings.
market demands.
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CU STO M E R S E R VI C E & S AT I S FACT I O N [OJK F.17]
We are committed to consistently delivering high-quality cornerstone of our commitment to service excellence. IPL and starter vouchers for services including
products and services to our customers. This year, our One key metric used to gauge customer satisfaction is Klicknclean, Lalamove, Maureno, MyRepublic, Zu, and
focus has been on improving our digital platforms and the Customer Satisfaction Score (CSAT). In 2024, Lippo Voltron. To strengthen core processes, Lippo established
engagement channels to ensure that our customers Village received a Customer Satisfaction Index (CSI) of a Customer Focus Unit to conduct pre-handover
receive timely, targeted and useful information. 4.53 while Lippo Cikarang received a CSI of 5. evaluations prior to property transfer. The complaint
and feedback system has also been improved through
CU STOM E R E N G A G E M E N T & W E L L -B E I NG LippoLand has introduced new services to enhance the clearer role specialization within the Customer Service
residential experience in its townships. The “Ready to team, enabling faster and more targeted responses in
We take customer feedback very seriously and are Move In” program by Maureno provides tailored furniture areas such as permits, complaints, BPL payments, and
continuously improving our customer experience. Digital and electronics packages for new homeowners. At Park deposit requests, thereby improving overall customer
improvements have been made such as instant receipt Serpong, the Prepaid IPL Program offers complimentary satisfaction.
of email notifications once a complaint is resolved as well
as complaint escalation channels.
Digitizing Township Management
Real Estate LippoLand has several IT initiatives to digitize and improve support. This chatbot enhances customer experience by
customer experience such as a customer portal with OTP offering instant responses, handling inquiries, and assisting
We continually strive to enhance the customer verification for billing and document access, online sales with various services at any time. With AIdriven capabilities,
experience through redesigning buildings and spaces, with WhatsApp transaction order notifications and LEAP, a LIA ensures efficient and seamless communication, making
implementing digitization, and launching new mobile customer portal for billing and renovation permits, it easier for customers to get the support they need, anytime
applications and products. Our focus in 2024 was on which utilizes the LIA Chatbot to automate customer service and anywhere.
innovative product improvement, regular launches, interactions.
and high-quality, timely handovers to ensure customer
The LEAP mobile app provides a self-service platform for
satisfaction. Satisfaction surveys are consistently
maintenance fee (IPL) payments and on-demand services,
conducted for visitors and tenants throughout the year,
empowering residents with easy access and control. For
utilizing various channels such as QR codes at launch
24/7 customer support, Lippo has introduced the Gen AI LIA
events, surveys for new homeowners, and obtaining
Chatbot, ensuring prompt and efficient assistance.
direct in-person feedback.
LippoLand has launched Gen AI LIA Chatbot, an advanced
TMD engages with our residents daily, placing AI-powered assistant designed to provide 24/7 customer
a primary focus on customer satisfaction as a
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Healthcare Lifestyle
OUR AWARDS & RECOGNITIONS
Siloam is constantly making improvements to the Similarly, our Lifestyle businesses have also enhanced
We have attained several best industry awards as
patient experience and enhancing patient satisfaction their feedback systems so that customers can provide
evidence of our dedication to customers, demonstrating
through its various digital services such as multichannel feedback at more touchpoints. Lippo Malls introduced our commitment to delivering the finest services
appointment booking (MySiloam App, Website, a Customer Complaints System in restrooms, enabling and products possible. Here are some awards and
Contact Center, WhatsApp & Live Chat), single queue customers to report issues directly to housekeeping recognitions in 2024:
management enabling self-check-in via MySiloam App, for prompt resolution. Guest satisfaction is carefully • Commitment to Sustainable Industrial Development
an EMR (e-Medical Record) providing integrated records measured through post-checkout surveys, covering the from Indonesia Green Awards (Lippo Cikarang)
in all hospitals, 24/7 access for patient medical histories entire stay experience. In 2024, Aryaduta maintained
• Millennial Home Design and Housing Project
through Patient Portal, online booking for laboratory and a Guest Satisfaction promoter score of 84%, minimized Kabupaten Tangerang grom GPA People’s Choice
radiology and online doctor teleconsultation. detractors to 4%, and sustained an NPS of 80%, reflecting Awards (Lippo Karawaci)
our commitment to exceptional guest experiences.
• One of the Top 10 Developers 2024 from BCI Asia
Awards (Lippo Karawaci)
Siloam’s Digital Inclusion Initiative
• Gold Champion for Indonesia WOW Brand 2024
(Siloam)
The World Economic Forum (WEF)’s EDISON Alliance
aims to improve lives globally through its “1 Billion Lives • Social Impact Champion from ESG Grit Awards
Challenge”, ensuring affordable access to digital solutions (Siloam)
in healthcare, finance, and education by 2025. As part of
• Ranked 61 for Best Specialized Asia Pacific Hospitals
its commitment under the EDISON Alliance, Siloam aims
from Newsweek (MRCCC Semanggi)
to enhance patient care and provide access to healthcare
services via the MySiloam App, which offers telemedicine, • Best Business Hotel from Exquisite Awards
homecare services, 24/7 doctor chats, lab and radiology (Aryaduta)
tests, personalized health monitoring, among other
• Online Customer Review Traveler Choice from
features. In 2024, Siloam has improved healthcare access TripAdvisor (Aryaduta)
covering 2 million active users through this platform,
• Online Customer Review from Agoda Awards
with the goal of reaching 2.5 million active users by 2025.
(Aryaduta)
• EDGE Certified Building from Green Building Council
Indonesia (Lippo Mall Kemang)
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PR OD U CT M A RK E T IN G and credit agreement signings at launch events, a bank
portal to facilitate customer interaction with banks, a Zu Points
simplified Sale and Purchase Agreement (PPJB) and pre- Seamless Rewards Across Lippo Businesses
Product marketing serves as the catalyst that amplifies
the impact of product innovation, ensuring that priority passes for highly interested customers. The STYLES Apps loyalty program now features
groundbreaking ideas not only come to fruition but also ZU Points, replacing STYLES Points for a more
resonate effectively with the target audience. STYLES is a loyalty program introduced by Lippo Malls. seamless experience. Starting in December 2024,
The current version enables customers to not only view Lippo has integrated its loyalty systems into the ZU
Our LippoLand Marketing Team focuses on innovation rewards but also provides seamless user interaction. loyalty platform, allowing customers to earn and
across products, placement, price, payment, and Updates to back-end operations enable our customers redeem rewards across its businesses more easily.
promotion to effectively target market segments and to scan QR codes and immediately receive a reward. By
support sales. This is achieved through strong branding analyzing consumer purchasing patterns, customers can Lippo Malls enhances engagement through
collaterals and marketing collaboration, with the also see personalized rewards and marketing features. audience segmentation, tailoring rewards to
goal of enabling people to find their ideal homes. Key The latest version of the STYLES app has been significantly customer preferences. With ZU Points, customers
innovations this year include on-site downpayment upgraded by migrating STYLES Points to ZU Points. can collect and redeem rewards at Lippo Malls
and partner tenants, encouraging repeat visits and
stronger brand loyalty across the Lippo ecosystem.
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LippoLand Rebrand
Ready to Strengthen Support for Indonesia’s National Property Industry
As a strategic move towards a new era, LippoLand five townships, which are Lippo Village, Lippo Cikarang In addition, LippoLand has received several prestigious
has officially unveiled its refreshed corporate identity, Cosmopolis, Tanjung Bunga Makassar, Holland Village awards, including The Winner in Housing Project in
including a new logo and updated vision and mission Manado, and Park Serpong, as well as twelve large- Tangerang Regency and The Winner in Millennial
statements. This rebranding initiative underscores scale integrated developments, LippoLand is ready Home Design in 2024 for its Park Serpong project.
LippoLand’s continued commitment to contribute to to embrace a future guided by quality, innovation,
the growth of Indonesia’s property sector. LippoLand and sustainability. LippoLand’s extensive journey has equipped the
aims to provide high-quality housing and also cultivate company with the strength and maturity necessary
sustainable communities driven by innovation, Aligned with this rebranding, LippoLand has achieved to continue innovating. Through this new identity,
tradition, and community welfare. notable milestones, including the sale of over 10,000 LippoLand reaffirms its commitment to delivering
property units and the management of more than developments that enhance the quality of life and
LippoLand is the consolidated identity of LPKR’s 55,000 units. Prestigious developments like San Diego serve as a source of pride for Indonesia’s property
Real Estate segment, which includes LPKR, LPCK, Hills memorial park, featuring premium facilities, industry.
GMTD and SDH. With a robust portfolio comprising further enhance the company’s positive track record.
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CUSTOMER & PRODUCT HEALTH & SAFETY
[OJK F.27, F.28, F.29, F.30] LippoLand Prioritizes Customer Health & Safety HACCP Certified
Aryaduta Upholds Food Safety Practices
LippoLand is committed to creating safe and well-
We are committed to providing our customers with In 2024, Aryaduta renewed its HACCP certification as
maintained environments across its developments. In
accurate information regarding product quality and part of its commitment to high-quality food safety
Lippo Village, a comprehensive traffic management
safety, as these build customer trust and loyalty. Each standards in its operations. By implementing strict
and safety review was conducted, resulting in a series
business unit is responsible for compliance with national hygiene protocols, risk management systems, and
of improvements including the strategic placement
accreditation standards, and monitoring product quality best practices in food handling, Aryaduta ensures
of speed tables, enhanced traffic signage, additional
and safety against their own set of performance indicators. that its food service meets international safety
CCTV installation, the creation of safe crossing
For example, Siloam not only participates in the national standards. This certification reflects Aryaduta’s
points equipped with pelican lights, and improved
accreditation process for its portfolio of hospitals, but dedication to delivering safe, high-quality dining
pedestrian pathway connectivity. Furthermore,
also pursues Joint Commission International (JCI) experiences for all guests.
LippoLand prioritizes emergency preparedness
accreditation status for several hospitals. In addition,
by equipping its personnel with First Aid (P3K)
Siloam has met the requirements for ISO 14001 for
certification and Class D Firefighting Certification
Environmental Management System and ISO 45001 for
from the Ministry of Manpower.
Occupational Health and Safety Management System.
In 2024, we did not receive any sanctions for non-
compliance with customer health and safety regulations,
product and service information, labelling, or marketing
communications and no products were recalled.
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CARING FOR OUR
ENVIRONMENT
Against the backdrop of climate change, we are committed to
accelerating climate action by reducing our carbon and water
footprint, improving our resource efficiency, and developing
greener products and processes.
Energy Efficiency & Emissions
Water Stewardship
Waste Management
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ENERGY EFFICIENCY & EMISSIONS [OJK F.6, F.7, F.11, F.12] [GRI 302, 305]
The World Economic Forum’s Global Risks Report 2024 ranked
Initiatives Description
the climate crisis, specifically extreme weather, as the top
material risk on a global scale in 2024.7 As such, we are committed Energy audits We support all BUs in implementing decarbonization through vendor partnerships for equipment replacement
and efficiency and group procurement for cost efficiency. At group level, we also provide technical support to BUs in developing
to doing our part to combat climate change by accelerating
projects decarbonization roadmaps and implementation plans.
our decarbonization efforts through Group-wide energy and
Our Lifestyle segment implements energy efficiency initiatives as part of their asset enhancement plans. Lippo
emissions reduction initiatives. Our decarbonization plans are Malls projects annual savings of IDR 14.5 billion based on the findings of energy audits completed in 18 malls over
supported by regular energy audits, the systematic roll-out of the past 2 years. Aryaduta Hotels has a pipeline of upgrades for its chillers, pumps, AHUs, and AC units that will
reduce energy consumption by at least 10%.
energy-efficiency initiatives and asset enhancements, and new
In our Healthcare segment, Siloam has invested IDR 5.3 billion in energy initiatives across its hospital portfolio in
opportunities associated with green buildings and renewable
2024, continuing prior decarbonization projects such as chiller optimization and solar PV installation. New initiatives
energy. include OT Smart Cooling and retrofitting appliances. These efforts underscore Siloam’s commitment to its long-
term decarbonization plan, aiming for Net Zero Emissions by 2060.
Recognizing the urgency of climate action, our 2030 Sustainability
Digitization Business units such as Siloam, Lippo Malls and Aryaduta have implemented automated dashboards that monitor
Agenda outlines ambitious green targets in support of Indonesia’s daily energy and water consumption of their portfolio of assets. This enables swift responses to anomalies in
net-zero goal by 2060. We aim to achieve a 35% reduction in consumption patterns and allows us to formulate effective plans to reduce consumption.
building emissions intensity by 2035 (against our 2019 baseline), We have piloted several digital building management systems (BMS) and chiller optimization systems in select
assets to improve energy utilization in real-time. We are also in the early stages of partnering with energy-as-a-
with an interim 15% reduction by 2030. We have also announced
service vendors who can drive energy efficiency through AI-powered solutions.
new 2030 targets to achieve green building certification for assets
We have implemented a Group-wide ESG data management system, which supports business units in streamlining
with cumulative GFA of 600,000 m2, and to install 5,000 kWp of data reporting and tracking their progress against their sustainability targets.
solar PV capacity. In line with our decarbonization commitments,
Promoting We are committed to electrifying our townships and properties to promote energy resilience and clean energy
we have undertaken the following initiatives in 2024 to reduce our electrification usage. This includes increasing our solar capacity and expanding our network of electric vehicle charging stations,
energy consumption and emissions: and lowering to support Indonesia’s Electric Vehicle Acceleration Program.
direct emissions Over the years, we have cumulatively planted over 160,000 trees to reduce the urban heat effect, improve air quality
and enhance the natural beauty of our townships. These trees also help to combat climate change as they act as
carbon sink to offset emissions. This year, we planted an additional 478 trees in Lippo Village / Park Serpong and
1,114 trees in SDH.
We also invest in rejuvenating green spaces, enhancing parks and other natural areas for the enjoyment of
residents and contributing to a healthier environment. In 2024, TMD spent IDR 17.5 billion in landscaping and green
space initiatives.
The community actively works to prevent intentional burning of waste within residential areas through educational
campaigns and advisories, mitigating air pollution and promoting responsible waste disposal practices
7
https://www3.weforum.org/docs/WEF_The_Global_Risks_Report_2024.pdf
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Unlocking Energy Saving: Building energy audits Solar Power: Lippo malls expands solar energy initiative
Lippo Malls conducted energy audits on six malls in 2024, including Lippo Malls has completed a portfolio-wide study to install
an ASHRAE Level 2 audit at Lippo Mall Kemang. This assessment, solar panels across its portfolio of shopping centers. This
performed by a consultant, involved data collection, on-site initiative is expected to offset a significant percentage of
equipment efficiency checks, and benchmarking to identify its annual electricity needs, while supporting sustainability
potential energy savings and comfort improvements. These efforts through reduced carbon emissions.
efforts align with LMI’s commitment to sustainability, enhancing
financial performance while reducing carbon emissions and For example, Lippo Mall Cikarang operationalized Phase 1
setting a positive example for the retail industry. of its on-grid photovoltaic solar power system installation
in 3Q/2024, which has reduced electricity consumption by
Meanwhile, Aryaduta is rolling out energy efficiency initiatives in 7.5%, and is projected to avoid 18,900 tCO2e over 25 years.
Q1 2025, including preventive maintenance, chiller optimization, Phase 2 is targeted for completion in 2025. We plan to roll
and energy-saving upgrades. Key projects include replacing out more solar installations to other malls such as Lippo
outdated chillers, overhauling gensets, upgrading AC units, and Plaza Batu and Lippo Plaza Kramat Jati.
improving cooling tower efficiency to cut energy consumption.
Decarbonization: Siloam’s 2060 Net Zero Commitment The Future Of Buildings: EDGE green building certification
In alignment with Indonesia’s national commitment, Lippo Mall Kemang obtained EDGE green building
Siloam is now dedicated to achieving net-zero emissions certification in December 2024. EDGE certification
by 2060, reinforcing its pledge through comprehensive recognizes buildings that demonstrate at least
measures, including environmental policies, a code of 20% resource efficiency improvement compared to
conduct, sustainable procurement guidelines, and a well- conventional structures. LMIR engaged a third-party
defined decarbonization plan. For the first step, Siloam will consultant to manage the green building certification
integrated energy efficient principle for designing new process.
hospital and implemented energy efficient equipment
for operational hospital. Lippo Mall Kemang has demonstrated significant
improvements over baseline performance - a reduction
This recognition stands as a testament to Siloam’s of 1.9 GWh of electricity per year (electricity cost
ongoing pursuit of global sustainability excellence. reduction of IDR 24.7 billion per year), 111,707 m3 of water
Through collaboration with stakeholders, continuous per year (water bill reduction of IDR 1.5 billion per year)
innovation, and investment in green technologies, and reduction of 1,523 tons of CO2 emissions per year. This
Siloam aims to drive long-term environmental impact expands our mall’s green building portfolio, which will
while setting industry benchmarks for sustainability. continue to grow in the future.
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Energy Consumption Energy Consumption by Business Segment (103 GJ) Energy Consumption by Fuel Type (103 GJ)
1,600 1,600 1,367
1,317
Electricity continues to serve as the primary energy source 1,251
1,400 1,367
1,317 1,400
for our operations, followed by the usage of diesel, petrol, 1,251
and LPG for daily activities. In 2024, we recorded a total 1,200
1,200
energy consumption of 1.4 million gigajoules (GJ). Notably, 1,000
707 754
our Lifestyle and Healthcare segments accounted for 55% 672 1,000
800
and 34% of the overall energy consumption respectively. 1,194 1,253 1,313
600
This distribution is attributed to the expansive scale of 600
their operations and the inherently energy-intensive 400 15
400
nature of these businesses. 422 452 463 16 13
18 13 11
200
200 18 16 1
19 1.4 1.5
Comparing the figures to the preceding year, there was 157 158 149 1.6 19 11
0 0
a 4% Increase in total energy consumption in 2024. This 2022 2023 2024 2022 2023 2024
slight increase can be attributed to an upswing in mall
Real Estate Healthcare Lifestyle Biodiesel CNG Diesel LPG
visitors, the number of patients treated at hospitals and
Natural Gas Petrol Electricity
renovations. We recognize that as our business grows,
there will be an anticipated rise in energy consumption. Energy Intensity by Building Type (GJ/m2)
Nevertheless, we are dedicated to implementing energy- 1.000
saving projects to enhance overall energy efficiency. Grid
0.900
energy constitutes 96% of our energy source.
0.800 0.870
0.850
0.793
0.700
57
0.615
0.573
EV Charging 0.600 0.545
Stations 0.577
0.500 0.519 0.534
0.468
0.400 0.439
0.418
27
0.300
Locations of
EV Charging 0.200
Stations 0.196
0.165
0.100 0.160
0.000
2022 2023 2024
143,633 kWh Total EV Charging
Electricity Consumption
High-Rise Residential Hospitals Malls Hotels Average
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GHG Emissions
In 2024, our total gross emissions across Scope 1, 2, and
Scope 1 Mobile Scope 2
D IR ECT E MISSIONS Combustion
INDIRECT EMISSIONS
3 amounted to 752 kilotons of CO2 equivalent (ktCO2e). Direct GHG emissions 1.33 ktCO2e
Indirect GHG emissions
that occurs from sources
Our total Scope 1 and Scope 2 emissions amounted to from purchased electricity
owned or controlled Stationary
299 ktCO2e, with Scope 3 emissions constituting 60% of Combustion
1.97 ktCO2e
the overall emissions. Notably, there has been a visible
2% 38%
increase in emissions due to higher patient volume of total CO2e Fugitive Emissions Electricity of total CO2e
Consumption emission
emission
across hospitals, higher mall visitor footfall in top emitting 7.95 ktCO2e
287 ktCO2e
malls, including a rebound in activity in malls that have
completed major asset enhancement initiatives.
Our Scope 1 emissions stem from various sources,
including refrigerant leakage in air-conditioning systems,
mobile combustion from operational vehicles, and
stationary combustion primarily from on-site generators.
Carbon emission is factored in all types of GHGs covered
by the Kyoto Protocol8: carbon dioxide (“CO2”), methane
Scope 3
Purchased goods
IND IR ECT E MISSIONS
and services
(“CH4”), nitrous oxide (“N2O”), hydrofluorocarbons All other indirect GHG
emissions from upstream
62 ktCO2e
(“HFCs”), perfluorocarbons (“PFCs”), sulphur hexafluoride
and downstream activites
(“SF6”) and nitrogen trifluoride (“NF3”). Rather than
reporting on each gas separately, gases are expressed
as a CO2 equivalent (“CO2e”). In the calculation of our 60%
of total CO2e
carbon emissions, we do so in line with the Greenhouse emission
Gas Protocol Initiative. To calculate these direct
emissions, we employ emission factors derived from
DEFRA environmental reporting guidelines9. For Scope
Downstream Use of sold products Fuel & energy Waste generated Airplane business
2 emissions exclusively tied to purchased electricity, we leased assets and services related activity in operation travel
utilize market-based methods and emission factors from 139 ktCO2e 109 ktCO2e 113 ktCO2e 29 ktCO2e 0.7 ktCO2e
the Ministry of Energy and Mineral Resources of Indonesia
(MEMR) for measurement.
8
Aside from the fugitive emissions from Kyoto Protocol gases which we have disclosed under Scope 1, we are separately tracking our use of Hydrochlorofluorocarbons (HCFCs)
such as freon types R-11, R-22, and R-123 in line with the GHG Protocol’s guidelines, which contributed an additional 8,778 tCO2e in 2024. We have been raising awareness
among our operational teams to phase out the use of HFCF by 2030 in line with Indonesian Government regulations. This initiative is supported by the development of
Group-wide Sustainable Procurement Guidelines, ensuring that future equipment purchases align with our climate and compliance goals.
9
Department for Environment Food & Rural Affairs environmental reporting guidelines (greenhouse gas reporting conversion factors 2023)
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We took a significant step in 2022 towards carbon Scope 1 & 2 Emissions by Business Segment (ktCO2e) Scope 1 & 2 Emissions Intensity by Building Type
inventory management by reporting on Scope 3 (tCO2e/m2)
350 0.200 0.189
emissions, which are generated by our indirect 0.184
291 299 0.171
0.180
operations and value chain. In 2024, we have expanded 300 273
0.160
our Scope 3 disclosures to capture assets which we do 250
0.138
0.140 0.124 0.128
not have operational control over but still influence. 10
In 166 0.120
200 159 0.127
149 0.118
addition, we have enhanced tenant data collection for 0.100 0.115
150 0.100
energy consumption to increase the accuracy of tenant- 0.080
0.087
0.094
related emissions within our leased assets. We remain 100 0.060
91 98 101 0.040
committed to enhancing both our emissions reporting 50 0.043
0.036 0.037
0.020
and carbon reduction initiatives. 33 34 32
0 0.000
2022 2023 2024 2022 2023 2024
We plan to consistently enhance and broaden our
Real Estate Healthcare Lifestyle High-Rise Residential Hospitals Malls
Scope 3 disclosures to more comprehensively reflect
Hotels Average
the emissions across our value chain. We also employ
emission factors derived from the Inventory of Carbon
Scope 1 & 2 Emissions by Source (ktCO2e) Scope 3 Emissions (ktCO2e)
and Energy (ICE database)11 EXIOBASE, Carbon Footprint
453
Ltd, and DEFRA environmental reporting guidelines for 350 500
our Scope 3 emissions. Moving forward upon the full 291 299 450
300
273 400 109
deconsolidation of Siloam by 2025, its emissions will be
250 350 316
classified under our Scope 3 emissions inventory.
300
200
69 139
250
Total Emissions by Scope (ktCO2eq)
150 275.16 287.34 200 166 1
261.29 110 29
Scope 1
100 150
0.8
11 8.43 11.9 7.95 100 117
23 113
50
2.47 2.72 1.97 64
2% Scope 2 50 0.6
1.36 1.22 1.33 49 49 62
287 0
2022 2023 2024
0
2022 2023 2024
38%
752 Mobile Combustion Stationary Combustion Category 1 - Purchased Goods
& Services12
Category 6 - Airplane
Business Travel
ktCO 2eq
60% Fugitive Electricity Category 3 - Fuel & Energy Category 13 - Downstream Leased
Scope 3 Related Activity Asset (Tenanted Area)
453 Category 5 - Waste Generated
in Operations
Category 11 - Use of Sold Product
(Managed Fee Building)
10
Under Category 11, we have reported 31 managed assets owned by third parties (1 hospital, 23 malls, 7 office buildings). We intend to include more managed assets in the future, as and when the data is ready to be disclosed.
11
Inventory of Carbon and Energy is an embodied carbon database for building materials.
12
Under Category 1, we currently disclose the embodied carbon from our construction materials and construction-related activities. Going forward, we plan to expand to other key purchased goods and services in our value chain.
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WAT E R ST EWA R D S H I P [OJK F.8] [GRI 303]
We acknowledge the crucial role of water stewardship in Water Consumption by 5,000
4,665
Business Segment (103 m3) 4,594
preserving the health and well-being of all stakeholders within our 4,500
ecosystem. Our commitment lies in utilizing water in a manner 4,009
Real Estate 4,000
that is socially equitable, environmentally sustainable, and
3,500 2,018
Healthcare 2,081
economically beneficial. Employing a comprehensive approach,
3,000 1,885
we address the sourcing, distribution, and consumption of water
Lifestyle
to ensure a consistent and reliable supply of high-quality water. 2,500
Our dedication lies in sustainable water management practices, 2,000
1,382
emphasizing the optimization of water usage and the utilization 1,360
1,500
1,508
of renewable water sources.
1,000
500 1,153 1,265
WA T E R CON S U M P T IO N
616
0
Since 2022, we have drawn a distinction between the water 2022 2023 2024
consumption13 by our business units, and the water withdrawal
by our Water Treatment Division (WTD), which is a subset of our
TMD services. This is due to the significant difference in the nature Water Consumption Intensity 3.00 2.84 2.60
of the business, whereby our WTD withdraws water based on by Building Type (m3/m2)
2.56
customer demand for treated water in our townships, and not only 2.50
High-Rise Residential
for the operational needs of our businesses. For transparency, we 2.10
2.25 1.92
have separately reported on water withdrawals by our WTD under Hospitals 2.00
“Water Treatment” on page 64. 1.58 1.61
Malls 1.70
1.50
Our main source of water is purchasing water from municipal Hotels 1.44 1.46
sources. Water consumption and water quality are monitored 1.00 1.29
Average 0.97
via standard operating procedures across all business segments 0.56
0.44
and asset classes. In 2024, we consumed a total of 4.7 million m3 of 0.50
water, an increase of 2% as compared to 2023.
0.00
The water usage of our water treatment facilities is excluded from water consumption data, as
13
2022 2023 2024
we separately report on their water usage under the subsequent section on water withdrawal.
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Sustainable Water Consumption Optimizing Water Usage The water supply generally uses the main supply from
PDAM and backup from Deep Well drawn in accordance
We have raised our target from 20% to 30% of our total We are committed to implementing prudent water with the permit obtained from the government.
water consumption to be sourced from sustainable management practices. We recognize the importance
water sources by the year 2030, as we have already of reducing our water consumption and improving To promote water conservation, our Lifestyle segment is
surpassed our original target. In 2024, 24% of our water the efficiency of water usage, given that we operate in implementing several initiatives aimed at reducing water
consumption originated from sustainable sources like Indonesia which experiences “high” to “extremely high” usage. This includes decreasing the water pressure from
wastewater recycling and rainwater harvesting. This water stress according to the World Resources Institute’s the booster pump to minimize excess consumption,
reflects a significant increase in water consumption from Aqueduct Water Risk Atlas. Our township and property placing water-saving campaign stickers in bathrooms
sustainable sources in 2024 compared to 2019, when such managers are responsible for monitoring water usage to raise awareness, and installing smart valves in public
sources constituted only 6% of our water consumption. and conserving water wherever possible. Our properties toilet washbasins to further optimize water flow and
undergo periodic maintenance of water systems and usage efficiency. These measures contribute to the
Over the years, we have made substantial investments regular physical checks, which allows us to identify and company’s ongoing commitment to sustainability and
to enhance our capabilities in leveraging sustainable fix leakages early. These checks are performed in-house responsible water management.
water sources. We have implemented water retention by each business unit’s respective facilities managers
systems to collect rainwater and runoff water. Our and resolved by our engineers in the first instance. Water Consumption by Source (103 m3)
hospitals have established backup and additional water
5,000
sources, including utilizing water from Reverse Osmosis We are also constantly adopting new methods, 4,663
4,594
(RO) systems, CSSD autoclaves, AHU, and FCU. Moreover, equipment, and technology to improve our water 4,500
4,009
we have established partnership contracts with other efficiency and achieve water savings, for example by 4,000
water providers and continuously review the utilization installing water-efficient taps and adjusting flushing 3,500
of treated water from liquid waste areas. capacity in bathrooms. In addition, our hospitals
3,000
maintain Reverse Osmosis (RO) water treatment 3,489 3,551
2,500
We consume sustainable water for various purposes. systems through routine maintenance and provide 3,457
2,000
For instance, at Lippo Village, all operational water backup water sources to manage water stress. Our
needs, including irrigation and drainage cleaning, mall properties focus on minimizing water disruptions 1,500
24% 24%
are fulfilled using treated wastewater. Furthermore, and maximizing water recycling opportunities. Our 1,000
14% 398 505
across our hospitals, malls, and hotels, we are actively hotels implement preventive maintenance programs 708
500
458 607
exploring methods to enhance water recycling within for water supply systems to minimize disruptions to 94
0
our premises. This includes utilizing recycled wastewater optimize water usage efficiency with the installation
2022 2023 2024
for non-potable purposes such as cooling tower of an early warning system for IoT-based water
Recycled Rain Water Purchased Water
operation, gardening, and cleaning. We are also studying levels that been carried out in several hotel units. Wastewater
opportunities to leverage recycled wastewater usage. Total Sustainable Water Sources (%)
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Water Quality Checks The Water Division enforces strict water quality control,
Water Resilience utilizing optimized physical and chemical treatment
Expanding water recycling across Lippo Malls We enforce stringent measures to uphold high water methods to meet regulatory standards. Internal
quality standards across our properties, incorporating inspections are performed frequently, with daily
Water conservation remains a key focus in our
regular assessments to ensure compliance with Minister checks every two hours, weekly analyses, and monthly
sustainability efforts, and we continue to expand
of Health Regulation No. 2 of 2023. Monthly testing of sampling across various treatment stages, including river
our water recycling systems across our malls.
clean water quality is conducted across all units, with water, feed sump, trident output, and clean water. To
Currently, nine malls have already implemented
routine disinfection and flushing promptly executed if validate internal findings, two KAN-accredited external
water recycling systems, allowing us to optimize
results exceed designated parameters. Certified external laboratories conduct monthly testing of river and clean
water use, reduce waste, and contribute to
laboratory analyses further validate compliance with water. In addition, the division ensures the integrity
environmental sustainability.
strict quality benchmarks. of its distribution network through regular flushing of
distribution pipes, safeguarding the quality of water
To further strengthen our commitment, we
Our hospitals utilize a reverse osmosis water treatment delivered to consumers.
continue to install water recycling systems,
system, subject to daily supervision and routine
including Sun Plaza and Plaza Medan Fair in
maintenance. Monthly assessments ensure the quality WATER TR EATMEN T
2024. Once operational, these systems will help
of RO water, while regular testing of treated wastewater
minimize water consumption by treating and
guarantees compliance with regulatory standards. In addition to on-site water management as part of our
reusing wastewater for non-potable purposes such
Similarly, our mall and hotel properties conduct monthly operations, our WTD is directly involved in the treatment
as cooling towers, landscaping, and sanitation.
laboratory tests, reinforcing elevated standards for guest and distribution of water in our key townships: Lippo
By continuously expanding this initiative, we aim
safety and satisfaction. Village, Lippo Cikarang, Tanjung Bunga, and Kemang
to create more sustainable and water-efficient
Village.14 We implement a holistic water resilience
properties while supporting Indonesia’s broader
In our Lifestyle segments, laboratory testing covers strategy to manage our water supply responsibly, and to
environmental goals.
physical, chemical, and microbial parameters across key mitigate any potential disruptions. Our priorities include
areas, including main water sources, kitchen operations, promoting efficient and effective operational processes
and ice cube production. Our townships adopt a multi- to reduce water loss, minimizing the direct use of river
layered approach to water quality management, and ground water as water sources, and enhancing our
integrating daily parameter checks with more extensive water circularity through retention ponds and treated
monthly external laboratory testing for comprehensive wastewater. We hold a water withdrawal permit (SIPA)
analysis. to ensure compliance with water withdrawal limits,
and monthly water meter readings are reported to the
relevant authorities.
14
In other integrated developments such as St. Moritz also have water treatment facilities, but these are managed by third parties. We currently do not include 3rd party water
treatment data in our disclosures.
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In 2024, our WTD collectively withdrew a total of 20.7 Both GMTD WTP and LPCK WTP are implementing Water Withdrawal by Source (103 m3)
million m3 of water for treatment, most of which came strategies to conserve water resources and improve
from purchased municipal water sources15. sustainability. GMTD’s WTP utilizes both surface water 25,000
and rainwater harvesting to supplement its water supply.
The WTD operates under strict environmental In addition, reverse osmosis (RO) system is planned for 20,573 20,677
30,000 19,476
regulations, ensuring responsible raw water extraction 2025 to enhance treated water quality. The LPCK Water
and waste disposal. Water from rivers undergoes Division is gradually reducing the intensity of backwash
rigorous testing per PP No. 22 of 2021, while sludge from operations to minimize water usage during this process. 15,000
treatment is managed as regulated waste, complying In a move towards greater water reuse, backwash water
with effluent quality standards under Permen LHK No. 3 is being redirected to the lake for potential reuse as raw
10,000 18,857 19,327 19,410
of 2010. To ensure accurate and reliable testing, the WTD water when river water quality is poor. The division is also
maintains dual accreditations: KAN ISO 17025 (testing and revitalizing Elysium Lake to reduce mud sedimentation,
5,000
calibration competence) and ISO 14001 (environmental improving the overall quality and usability of this water
management compliance). resource.
410 539 574
209 716 693
0
Sustainable Water Treatment This redundancy provides a crucial buffer against 2022 2023 2024
supply interruptions. Recognizing the variability of raw Recycled Rain Water Purchased Water
Wastewater
As of 2024, 6% of the total treated water (1,267,468 m³) is water sources, the division has a contingency plan in
derived from recycled wastewater and rainwater. We are place, utilizing lake/water pond water when river water
committed to ensuring that a minimum of 1,000,000 m³ quality is compromised. Furthermore, they actively Water Withdrawal from Sustainable Source (103 m3)
of treated water comes from sustainable sources. monitor pressure at the farthest and lowest points in 1,400
the distribution network, ensuring pump operations
1,200
As Indonesia is prone to water stress, our WTD has function correctly to maintain a stable and consistent
been expanding its capabilities to tap on sustainable supply. At Cikarang, we maximize water supply from the
1,000
water sources such as harvested rainwater and recycled booster pump through interconnection between WTP 2
wastewater to reduce freshwater withdrawal. For and WTP 3, further enhancing the reliability of the clean 800
rainwater harvesting, we have invested in the collection water supply.
1,246 1,267
and storage of runoff water through retention ponds, 600
which also helps to reduce flooding in urban areas. For
400
wastewater recycling, we have equipped some of our
619
wastewater treatment plants with the systems to carry Data regarding water withdrawal covers the water treatment facilities managed
15
200
out additional treatment processes to ensure that the bv our WTD only. Our WTD purchases water from different sources – 1) treated
water from Perusahaan Daerah Air Minum (PDAM); 2) river water; 3) groundwater;
quality of the treated wastewater is suitable for reuse. and 4) other emergency water sources (e.g. water supply from water tank trucks). 0
2022 2023 2024
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Water Loss Avoidance
Water Recycling Reaches New Milestone
The avoidance of water loss is a priority for our WTD, given
In 2024, our township water recycling efforts at Lippo Village reached an all-time high, with a total of 548 megaliters
that water is becoming increasingly scarce in Indonesia.
of water recycled. This achievement reflects our commitment to sustainability and responsible water management
By optimizing production and distribution processes, we
in our township. By maximizing water reuse, we reduce environmental impact and support a more sustainable
ensure efficient water use while minimizing costs. Water
future. Our water recycling initiatives help conserve natural resources while ensuring efficient water use across our
loss prevention also helps mitigate drought impacts on
developments.
local communities. To achieve this, our WTD employs
measures such as recalibrating water meters, replacing
pressure gauges for better distribution control, and
upgrading inverter pump systems for consistent pressure
regulation. These efforts not only conserve water but also
enhance overall system efficiency.
Regular monthly water balance reviews help identify
discrepancies, ensuring operational efficiency.
Compliance with surface water extraction regulations is
maintained through adherence to SIPA (Surface Water
Extraction and Utilization Permit) conditions, with
monthly reports submitted to Perum Jasa Tirta II and
quarterly updates provided to the Balai Besar Wilayah
Sungai.
The introduction of a new water meter brand has reduced
non-revenue water by 5%, while inverter motor drives have
cut electricity consumption by 15%. Aging galvanized iron
pipes are being replaced with high-density polyethylene
(HDPE) alternatives, and water treatment facilities are
being upgraded, including filter media replacement
and trident refurbishments. Additional improvements
include leak repairs, hydrant pillar replacements, and the
installation of a new intake water meter.
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WA STEWA T E R Hazardous waste is collected separately and transported Wastewater Treatment by Business Segment (103 m3)
to licensed treatment facilities, with detailed records
We manage wastewater responsibly to comply with maintained for transparency and compliance. 3,000
regulations and minimize environmental impact on local 2,541 2,587
2,500 2,364
communities. All wastewater generated at our managed In 2024, our business units generated a total of 4.2 million
properties undergoes treatment at certified wastewater m3 of wastewater, of which around 38% was recycled 2,000 1,175
1,128
treatment plants (WWTPs), the majority of which are or reused for subsequent use, while the remaining was 1,175
1,563
1,457
discharged externally. Our WTD treats wastewater which 1,500
on-site, before being safely discharged or reused. We
regularly monitor treated water quality for pH and flow not only includes wastewater discharged by our business 640 775
1,000 849
1,020
rate parameters, with accredited laboratories conducting units, but also wastewater generated by residential, 783
770 126 145
periodic testing. commercial, and industrial tenants.16 500 589
691 563 643
393 41 419
153
0
Each facility type follows tailored wastewater Discharged Diverted Discharged Diverted Discharged Diverted
management practices. Hospitals adhere to strict 2022 2023 2024
disposal regulations to ensure safe treatment, while
Real Estate Healthcare Lifestyle
malls and hotels adopt sustainable approaches. Malls
manage wastewater through direct city drainage where
permitted, third-party treatment, or on-site recycling,
Wastewater Treatment by Water
with nine malls currently utilizing water recycling systems. Treatment Division (103 m3)
Aryaduta hotels integrate drainage systems into either 3,500
the hotels or the city’s sewage treatment plant STP, with 3,120
3,000
routine maintenance and audits ensuring operational
efficiency. Biodegradable chemicals in guest rooms and 2,500
2,167 2,231
kitchens further support eco-friendly practices. 2,044
2,000
1,792
In our townships, centralized WWTPs serve multiple 1,500
properties connected by a common sewage network. 1,043
1,000
Sludge residue from water treatment is processed
500
in designated sludge drying beds before further
management, while hazardous and toxic waste is strictly 0
handled by environmental regulations. 2022 2023 2024
Diverted Discharged
16
For diverted wastewater, some is recycled and sold as non-potable water, while the rest is directly re-used by TMD for various purposes including irrigation and landscaping.
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WA ST E M A N AG E M E N T [OJK F.4, F.5. F.13-15, F.16] [GRI 306]
We are committed to providing a clean and sustainable MA NA G I NG W A STE RE SP O NSI B LY Waste diversion increased slightly to just over 3,200
living environment for all stakeholders. Given the tons, driven by better tenant and vendor engagement
substantial volume of waste produced during our Given the diverse scope of our operations, we manage in recycling efforts by Lippo Malls and townships,
business operations and from our customers and tenants, various types of waste including domestic waste from and the composting of landscape waste by SDH. In
effective waste management is crucial. Our strategy commercial and residential areas, medical waste from our addition, Siloam has enhanced its waste recycling
for waste management centers on optimizing resource hospitals, landscape waste from township management, capabilities, particularly for hazardous waste, while
efficiency, minimizing waste generation, and enhancing and construction waste from project development. In ensuring compliance with regulations. We received zero
recycling rates to contribute to the principles of a circular 2024, our managed assets and townships generated environmental complaints from the local community,
economy. As part of our 2030 Sustainability Agenda, we around 60 kilotons of waste in total, comprising 58 kilotons NGO, government or media regarding any waste, water
are committed to diverting at least 3,000 tons of waste of non-hazardous waste and 2 kilotons of hazardous or air pollution. There were also no spills of chemicals, oils
from landfill each year. waste. The majority of this waste was generated by our and fuels, among other substances that could potentially
tenants and contractors. affect soil, water, air, biodiversity and human health.
Non Hazardous Waste (Ton) Hazardous Waste (Ton)
60,000 50,000
54,395
50,720 2,090
50,000 1,975 24
44,346 9,993 40,000 1,864 17
11,825 1
2,911
40,000 7,987
2,615 30,000
2,697
30,000 1,342 1,473
1.347
20,000
20,000 41,491
36,240 33,662
10,000
10,000
1,352 3,159 1,202 3,201 1,339 616
1,424 51 182 149 516 37 35 592 42 37
11
0 21 1,775 1,714 0 11 2 5
Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted
2022 2023 2024 2022 2023 2024
Real Estate Healthcare Lifestyle Real Estate Healthcare Lifestyle
Disposed = Incinerated or Landfilled Diverted = Reused, Recycled or Composted
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To safeguard the natural environment, we and the Tangerang Regency Environmental Agency and Lippo Mall Puri, where materials such as paper, plastic,
conscientiously select locations for development and (DLH), ensuring proper waste handling and transportation. and aluminum are processed for recycling. In 2024, 26%
operations where there is no impact on areas of high Lippo Village maintains transparency through structured of total waste generated by Lippo Malls Indonesia was
biodiversity or conservation value. We do not currently monitoring systems, including vendor-generated Ritase recycled through licensed vendors. In addition, Lifestyle
have any developments or operations in regions reports and real-time waste collection tracking. business units are transitioning to digital alternatives,
recognized for their high ecological significance. such as QR code-based hotel compendiums, to reduce
Nevertheless, as part of our commitment to Hazardous waste is carefully managed under strict paper use. To minimize single-use plastics, all hotels
environmental stewardship and in compliance with protocols to mitigate environmental and health risks. We have replaced individual soap and shampoo bottles
regulatory requirements, all of our developments operate temporary storage facilities where necessary and with refillable dispensers, while hospitals reuse non-
undergo the AMDAL process (Environmental Impact work exclusively with licensed vendors for transportation, disposable plastic containers after thorough disinfection.
Assessment). treatment, and disposal. To ensure compliance, vendors Collaboration with local NGOs also enables the donation
must provide proof of licensing. of excess consumable F&B production to support
Types of Waste Generated and Managed community well-being.
In our Lifestyle segment, a Quarterly Food Safety Audit
Our waste management policies and SOPs provide clear ensures proper waste segregation, including dedicated Beyond operational efforts, we actively promote
guidance on the appropriate collection and disposal disposal areas for recyclables like cardboard, jerry cans, environmental awareness and sustainability through
methods for various waste types, ensuring compliance plastic bottles, and used cooking oil. Hotels maintain a community campaigns centered on 3R principles. Our
with local laws and regulations. We engage municipal structured waste management system where vendors waste reduction initiatives include composting programs
waste services and specialized third-party vendors collect and weigh segregated waste daily, providing and the GMTD model cluster program, which encourages
to collect and dispose of waste, prioritizing landfill detailed reports to track sustainability efforts. In 2024, recycling. In Lippo Village, a partnership with Rekosistem
reduction through waste segregation and recycling Aryaduta allocated total IDR 6.5 billion for waste has facilitated inorganic waste collection within the
initiatives. Where available, Lippo Malls partners with management services and permits. CBD, processing over 38,000 kg of waste by October
waste segregation vendors to enhance sustainability 2024, with 98% successfully recycled. In addition, we
efforts. Non-hazardous waste is sorted on-site before RE DUCE , RE USE , RE CYCLE enforce regulations prohibiting single-use plastic bags
being transferred to local waste collection sites (TPS) in provinces like Jakarta and Bali, working closely with
or recycling facilities. In our townships and integrated We are committed to minimizing waste disposal by tenants and visitors to ensure compliance. Awareness
developments, TMD collaborates with authorized vendors actively promoting the principles of Reduce, Reuse, campaigns—such as posters, events, and social media
who recycle what they can before proper disposal. To and Recycle (3R). This involves engaging stakeholders— outreach—further educate stakeholders and inspire
further support waste management improvements, we including staff, visitors, tenants, and residents—and responsible waste management practices.
provide financial and infrastructural assistance to local partnering with public and private waste management
communities. In 2024, LippoLand spent IDR 2.9 billion in vendors. Vendors report segregated waste quantities
waste management services, permits and compliance. with their monthly invoices, and on-site weighing is
LippoLand strengthens its waste management preferred. Specific initiatives include Tamini Square’s
through partnerships with licensed vendors vendor, which sorts waste for reuse or landfill disposal,
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Lippo Malls Strives Towards “Zero Waste” Reducing Food Waste, Feeding Communities Driving Waste Reduction Through Education
As part of our commitment to sustainability, we Aryaduta operates a food donation program to Lippo Malls actively promotes waste reduction
have partnered with Recycle for Good to introduce distribute leftover food in good quality to local through collaboration and public engagement. In
a plastic waste station at Cibubur Junction. communities in need. This initiative helps reduce 2024, they sponsored and provided the venue for the
This initiative aims to encourage mall visitors to food waste while providing nutritious meals to “Blibli Langkah Membumi Festival 2024” at Senayan
participate in responsible waste management by those facing food insecurity. By collaborating Park, Jakarta. This “CollaboAction for the Earth”
providing an easy and rewarding way to recycle with local organizations and community groups, festival, with 18,000 attendees, showcased circular
plastic. The plastic vending machine, located in a Aryaduta ensures that the food reaches the economy practices through exhibits, workshops,
public area for easy access, allows visitors to deposit right people efficiently. This program reflects and other activities. By supporting such initiatives,
their plastic waste in exchange for shopping Aryaduta’s commitment to social responsibility and we foster a culture of sustainability, reinforcing its
points. These points can be redeemed for essential sustainability, creating a positive impact on both the commitment to reducing waste at both operational
goods such as rice, cooking oil, and sugar, making environment and the community. and consumer levels.
recycling both beneficial and impactful.
Lippo Malls also collaborated with Buddha Tzu
As of the end of 2024, this program has successfully Chi Foundation for “Mengelola Sampah Menjadi
collected and processed a total of 10,955 kilograms Emas” program to promote education on waste
of plastic waste, demonstrating a significant positive management and recycling.
impact on waste reduction and environmental
stewardship.
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MA TE RI A L USA G E
Siloam’s Commitment To Waste Recycling
Apart from operational waste, we acknowledge that To mitigate the environmental impact, we are exploring
As part of our ongoing sustainability efforts, Siloam
the utilization of construction materials significantly initiatives like prefabrication, recycling of leftover
has implemented a waste recycling program to
contributes to our embodied carbon footprint. materials, and promoting home renovations instead of
minimize environmental impact. This initiative
Demonstrating our commitment to sustainability, we are demolition and new construction. In addition, we are
focuses on processing cardboard and plastic-based
actively striving for greater efficiency in material use and delving into sustainable design practices to enhance
medical equipment that can be safely cleaned,
seeking environmentally friendly alternatives whenever material usage efficiency in project development.
treated, and repurposed into recycled materials.
feasible. In the Real Estate segment alone, we generated Our aspiration is to obtain more green certifications
approximately 175 kilotons of construction materials, for new build projects, reflecting our commitment to
Throughout 2024, the program has successfully
including concrete, steel, glass, and timber. environmentally responsible construction practices.
processed 149 tons of recyclable waste, reducing
landfill contributions and promoting responsible
waste management. By integrating sustainable Construction Materials in 2024 (Tons)
practices into hospital operations, Siloam Hospitals 200,000
continues to prioritize both public health and
180,000
environmental responsibility, paving the way for a 12,949
greener healthcare sector. 160,000
2,906 4,081
140,000 45,300
74,174 62,659
120,000
100,000
80,000
60,000 121,177
83,177 99,355
40,000
419 31 840 100
27 337
20,000 3,660 8 12 4,159 2,090 39 2,300
745 1,624
4,716 165 96 5,101 6,518 331 7,691
4,277 5,508
467 627 997
0
Concrete Steel Glass Timber Concrete Steel Glass Timber Concrete Steel Glass Timber
2022 2023 2024
LPKR LPCK GMTD
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INVESTING IN
OUR PEOPLE
Our people are our most valuable resource and
the driving force behind our business success.
We are committed to being a workplace
of choice for our employees by upholding
fair employment practices, prioritizing their
health, safety, and well-being, supporting their
development and aspirations, and empowering
them to be a force for good.
Employment & Rights
Occupational Health & Safety
Training & Development
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EMPLOYMENT & RIGHTS [OJK C.3, F.18, F.20]
EMPLOY M EN T [GRI 2-7, 2-8, 2-30, 401]
Employees Non-Employee Workers
Employment by Status
by Business Segment by Business Segment
Our goal is to attract and nurture a diverse and dedicated
pool of people that adds value and drives organizational 986 6,685
growth. A stable workforce reduces turnover costs and 32% 55%
business interruptions, ensuring business continuity 12,229
and fostering a stable, collaborative work environment
3,062 12,229
founded on enduring relationships. This approach 1,354 Employee Non-Employee
Workers
enables us to concentrate on enhancing productivity, 1,708
2,076 5,544
achieving operational excellence, and promoting Employees Non-Employee 68% 45%
Workers
employee satisfaction and well-being.
Permanent Employees Non-Employee Real Estate Lifestyle
As of 31 December 2024, we have a total of 3,062 Workers
Contract Employees
employees, all of whom work on a full-time basis. With
the deconsolidation of Siloam from our workforce-related
disclosures, there is an ~80% decrease in the number of
employees disclosed. The Lifestyle segment makes up
68% of our employees, while the Real Estate segment
at 32%. The majority of our employees are permanent
staff. We oversee a collective workforce of 12,229 non-
employee workers across all our business units.17 For a
detailed demographic breakdown, please consult the
“Appendix - Workforce Data” located on pages 101 to 104.
Non-employee workers are outsourced or contractors that include construction,
17
landscaping, administration, building maintenance, cleaning and janitorial service,
security, housekeeping, customer service, F&B service, parking attendants, and
call center operators.
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Employee Benefits • BPJS Pension Guarantee, a mandatory program from We organize various commemorative events and friendly
the government, with employee contribution of 1% sports tournaments throughout the year to foster
All our permanent and contract employees receive similar and company contribution of 2%. connections between and among our business units.
benefits, encompassing annual leave, parental and • BPJS Employment Old Age Security, a mandatory These events include LippoLand Leader’s Workshop,
special leave, counselling, wellness programs, medical program from the government, with employee Lippo Karawaci Annual Gathering, LippoLand Estate
insurance coverage, along with exclusive discounts on contribution of 2% and company contribution of 3.7%. Workshop “Proud to Leap with LippoLand Estate”
products and services linked to the Group. Some of our and Lippo Leadership Offsite Meeting. The monthly
business units provide additional benefits depending In total, our post-employment benefit liabilities stand newsletter, Infinity, serves as a source of updates on key
on the nature of their work and the job scope involved. at IDR 166.28 billion as of 31 December 2024, based on company activities and business performance for our
For example, employees receive special discounts calculations by an independent actuary. employees. For additional details on activities promoting
and wellness programs such as Lippo Fun Club, Body employee well-being, please refer to the “Health and
Transformation Challenges and Steps Challenges. Employee Engagement & Retention Safety” section on pages 79 to 81.
As regulated by Indonesian law, we make monthly
contributions for BPJS Kesehatan (health insurance) and We believe that a positive and nurturing work We place emphasis on attracting and retaining the best
BPJS Ketenagakerjaan (social security) towards our staff environment is essential to attract, motivate and retain talent. In 2024, we welcomed 651 new employees to our
accounts based on the prescribed contribution rates. talent. Apart from the benefits we provide, we involve our organization. The majority of these new hires were male
In addition, we provide post-employment benefits in employees in year-round engagement events, training (62%) and under the age of 30 (51%), primarily within our
accordance with prevailing regulations. sessions and town halls to enhance their workplace well- Lifestyle segment. On the other hand, 725 employees
being and strengthen our corporate culture. departed from the organization during the same period.
Parental Leave Return to Work & Retention Rates Employee Turnover in 2024
67
9%
256 249
247
35% 34%
Staff Who Returned To Work
Retention rates - Male 100.0% 34%
After Parental Leave 58 38 469 Gender 411 Age 476 Business
(12 Month Retention) 83.3% 65% 57% 66% Segment
Staff Who Returned To Work Retention rates - Female 94.9%
After Parental Leave 60 41
100.0% New Hires in 2024
15
2%
Return to work rates - Male 100.0% 242
334
Staff Who Took Parental Leave 60 41 37%
51% 246
100.0% 38%
409 Gender 302 Age 405 Business
63% 47% 62% Segment
Return to work rates - Female 100.0%
Staff Entitled To Parental Leave 547 1,260
100.0%
Female < 30 30-50 Real Estate
0 200 400 600 800 1,000 1,200 1,400 0% 20% 40% 60% 80% 100%
Male >50 Lifestyle
Female Male Lifestyle Real Estate
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Employee Wellness Programs Employee Engagement & Fun
With an increased focus on employee wellness, we have developed 2 main programs, We prioritize employee well-being and engagement through various initiatives.
under the routine and seasonal category. Routine programs focus on consistent Physical well-being was supported by providing sports facilities and activities like
activities that encourage employees to stay active and fit that include stretching football, badminton, zumba, and yoga. Employee satisfaction was enhanced through
exercises, while seasonal programs feature challenges like the Body Transformation engagement events such as complimentary haircut sessions and makeup classes, and
Challenge and Steps Challenges, as well as “Sayembara,” a recognition initiative for by department heads serving meals in the employee canteen. We facilitate employee
the fittest employees. Healthy eating is supported through healthy catering services. engagement with the community through blood donation drives. Internally we
In addition, an annual gathering is organized for real estate employees to receive celebrate unity and diversity through events like Independence Day, Iftar together,
company updates, learn about future goals, and participate in engagement activities. and Christmas gift exchanges, and nurture team spirit through employee outings
and gatherings.
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D I V E R SI T Y & E Q U A L O P P O RT U N IT Y [GRI 405]
Non-Staff 19 91 Employee’s Position
By Gender
Diversity, equity, and inclusion (DEI) are fundamental aspects of our culture and Staff 772 1,019
Female
identity. We embrace a rich diversity of perspectives. Employees from various Supervisor Male
264 754
business units collaborate, leveraging their diverse skills, backgrounds, and
Manager 145 284
experiences, resulting in exponential growth through organizational synergy.
While acknowledging the progress made, we remain committed to fostering Executive 1 14
diversity and inclusiveness within our leadership structures, actively working
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
towards achieving a more equitable and representative gender balance at all levels
of our organization. Our female employees make up 39% of our total workforce. We Non-Staff 51 53 53 5 Employee’s Position
deliberately strive to maintain gender diversity to the best extent possible, taking By Age
Staff 780 961 50
into account these industry specific gender distributions. Our hiring policy ensures < 30
that we maintain a gender balance, even in our shortlisting of job candidates. There Supervisor 103 549 65 30-50
were no reported incidents of discrimination in 2024. > 50
Manager 8 343 78
Executive 6 9
61% 39% 33% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Female Executives
Male Female
and Managers
Non-Staff 110 Local & Foreign
Employment
Staff 1,791
Statistics
Employee Demographics Supervisor 717 Local
Foreign
208 72 Manager 424 5
7% 2%
942 750
1,201 25% Executive 12 3
39% 31%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Educational
Gender Age Qualifications
1,861
61% 1,912 1,820 420 Employment By Region
62% 59% 14% 295
Java
10%
Kalimantan
Female < 30 High School Certification
Employee (%)
2,359
Male 30-50 Diploma 77% Sumatra
>50 Undergraduate Degree
42 210 156
Sulawesi
1% 7% 5%
Postgraduate Degree
Bali, Nusa Tenggara,
Maluku, Papua
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Within our leadership ranks, females represent 14% extends to our preferential engagement of local vendors F R EEDOM OF AS S OCIATION &
of our Board of Commissioners (one out of seven and contractors. This dedication underscores our COL L ECTIVE BAR GAIN IN G [GRI 407, 2-30]
members), and 16% of our Board of Directors (one out support for the local community and our contribution
of six members). Notably, 33% of our employees who to the national economy through local employment The rights and obligations of our employees are regulated
hold managerial positions and above are female. While opportunities. in the Group Regulations. To minimize business
we promote employees strictly based on performance, disruption, we maintain two-way communication
leadership ability, and experience for comparable roles At Lippo, we celebrate the inspiring journeys and channels between the organization and employees, and
across the organization’s hierarchy, we are committed significant contributions of our remarkable female any significant operational changes within our business
to gender diversity and will strive for gender balance leaders. “Her Voice, Her Impact” is a testament to the which have the potential to affect our employees are
within our senior and middle management, especially in dedication, resilience, and visionary leadership of women communicated beforehand. We respect workers’ rights to
our succession planning. In addition to gender diversity, who are making meaningful strides across the Group. exercise freedom of association or collective bargaining.
we also value age diversity within our organization. Through their powerful stories, we aim to highlight how As of 2024, none of our employees are covered under
We employ professionals based on their qualifications, our inclusive and supportive workplace culture enables collective bargaining agreements.
ranging from fresh graduates to industry veterans. Our women to excel professionally, assume influential roles,
employees under the age of 30 make up a significantly and drive sustainable growth. CH IL D L ABOR , F OR CED OR COMPUL S OR Y
larger portion of our workforce. Furthermore, we L ABOR [F.19] [GRI 408, 409]
take pride in the fact that 75% of our employees have NO N- DI SCRI MI NA TI O N [GRI 406]
tertiary qualifications and above. To maintain our We adopt a zero-tolerance stance towards child,
competitive edge, we actively recruit fresh graduates We ensure that our employees are compensated fairly, forced, or compulsory labor, which is highlighted in
and professionals from diverse educational backgrounds taking into account employment status, job scope, our HR policy and Code of Conduct. We ensure that all
and areas of expertise. We recognize the importance of a and qualifications, among other relevant factors. As a employees understand these human rights principles
strong educational background for skilled professionals, matter of policy, there is no difference in the salary range through the annual mandatory refreshment courses of
such as healthcare workers, in delivering quality service. between male and female employees across all employee our Code of Conduct. Our operations and the suppliers
categories and levels. Any differences in compensation we engage with have been categorized as low risk in
We also believe that investing in local talent can help to are strictly due to the individual’s qualifications and terms of potential involvement in child and forced labor.
build a strong pipeline of skillful and capable workforce in are irrespective of gender. We strive to narrow any In 2024, there were no reported incidents relating to
Indonesia. In 2024, 99.7% of our employees are Indonesian compensation gap between our female and male discrimination, child labor, forced labor, or any major
citizens. Where possible, we prioritize the hiring and employees. In addition, our entry-level wages are always employment case.
placement of employees in their region of origin, to equal to or above local minimum wages throughout our
ensure that our teams on the ground have a good grasp locations of operation across Indonesia, demonstrating
of the local socio-political and cultural sensitivities to our commitment to fair compensation for our people.
operate effectively as well to support the local area There are no reported cases of discrimination during this
empowerment. The commitment to local empowerment period.
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HE R V OI C E , H E R IM P AC T : W O M E N L EA DI NG THE W A Y I N LI P P O
DIANA WIJAYA FIONA
Group Corporate Accounting & Consolidation HR Strategic Division Head
Throughout my journey as Group Head of Corporate Accounting & Throughout my career as HR Strategic Division Head, I have dedicated
Consolidation, I’ve had the privilege of leading consolidation reporting myself to ensuring our people’s strategy aligns seamlessly with our business
across the entire Group, ensuring meticulous compliance with accounting objectives. My responsibilities include overseeing organizational design,
standards and regulatory requirements. My role extends beyond workforce planning, performance management, talent development,
oversight—I actively drive improvements in accounting processes, culture shaping, and talent management. By driving these strategies, I aim
enhancing efficiency and alignment with the company’s strategic policies. to create a competitive edge, enabling our company to attract and retain
Embracing innovation, I’ve spearheaded initiatives to automate financial top talent, fostering sustainable growth and long-term organizational
operations, significantly improving our governance and operational success.
excellence.
At our workplace, we actively nurture an inclusive and positive environment that prioritizes competency,
My workplace has been instrumental in nurturing gender equality and empowering women, creating capability, and performance above gender. We firmly believe in providing equal opportunities,
an inclusive environment where performance and capability are recognized regardless of gender. ensuring that women are equally seen, valued, and respected in leadership, decision-making, and
Here, equal opportunities are not just a statement but a reality, supported through intentional career advancement roles. To further support gender equality and women’s empowerment, our HR
leadership development programs and a culture that genuinely values diverse perspectives. This initiatives such as Succession Planning and Leadership Development Programs actively prepare
environment has enabled me and many other women to confidently step into leadership roles, women to take on strategic leadership positions. Personally, I have been deeply supported in my
contribute meaningfully, and excel at every organizational level. I’ve personally experienced immense career journey through a strong organizational culture centered on meritocracy, inclusivity, and
support throughout my career, continually entrusted with key responsibilities and challenging continuous leadership development. Flexible work arrangements that promote work-life balance
projects that allowed me to showcase and further develop my expertise. have allowed me to thrive professionally while fulfilling my family responsibilities.
ARDISA WIBOWO LESTARI
STEPHANI Group Purchasing Manager
Inventory Management Commission & Data Reporting Dept. Head
In my role as Group Purchasing Manager, I oversee purchasing activities
As Inventory Management Commission & Data Reporting Department at our head office, ensuring efficient procurement processes and optimal
Head at LippoLand, I lead inventory control, commission processing, and resource management. Our workplace strongly supports gender equality
data reporting functions, ensuring accuracy and efficiency in meeting the and women’s empowerment by proactively promoting women into
organization’s needs. My role involves driving process automation, ensuring leadership roles and encouraging active participation in key decision-
compliance, and guiding my team towards operational excellence. making processes.
Our company actively promotes gender equality and women’s empowerment, ensuring women Throughout my career, I have experienced tremendous support from our company, particularly
have equitable opportunities to voice their ideas, lead significant projects, and participate in key through specialized programs focused on developing executive skills, negotiation tactics, and
decisions that empower them to take on higher positions and create meaningful impact. I’ve received building confidence. These initiatives have been instrumental in preparing me to step confidently
considerable support through specialized learning programs focusing on professional and leadership into leadership roles and successfully advance my professional growth.
development. In addition, being entrusted with opportunities to lead various projects has enabled me
to deepen my expertise, gain valuable experience, and progress into more senior roles.
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O C C U P A T I O N A L H E A LT H & S A F E T Y [F.21] [GRI 403]
We are committed to providing a safe and conducive they are equipped with essential knowledge from the This year, our organization focused on enhancing OHS
environment for all our stakeholders to thrive. Recognizing start. In 2024, a total of 45 fire and disaster simulations practices through formal training curriculum. Our
that a healthy workforce is vital for business continuity, were conducted across our malls, encompassing a wide employees participated in a total of 3,494 training hours
we have implemented a occupational health and safety range of scenarios, including hurricanes, strong winds, for OHS-related training. We reviewed the OHS training
management system aligned with the best practices thunderstorms, lightning, floods, fires, disease outbreaks, programs for specific job scopes, integrated health
and guidelines that cover 100% of all employees and non- theft, vandalism, bomb threats, terrorism, earthquakes, and safety into the orientation process, and conducted
employee workers. Our objective is to foster a workplace and extreme weather events. In addition, we offer health regular fire drill exercises across our various operations. In
culture where our employees deeply understand the services for non-work-related conditions. For example, addition, we established an Emergency Response Team
significance of occupational health and safety (OHS). in response to Mpox concerns at the end of 2024, we within our office work environments to address potential
organized educational health talks to raise awareness safety concerns through employee participation,
ST A FF WELL-B E IN G and enhance preparedness. consultation and communication. Our commitment
to maintaining incident reporting and investigation
A comprehensive approach is adopted to prioritize the O HS MA NA G E ME NT & TRA I NI NG procedures underscores our dedication to prioritizing
well-being of our staff, recognizing that it contributes the health and safety of our workforce and continually
to improved health outcomes and a more content Every business unit is required to establish an OHS improving OHS practices.
workforce. In addition to the government-mandated system in accordance with government regulations.
health and insurance benefits (BPJS Kesehatan and BPJS Comprehensive coverage is guaranteed under these At the Group level, we have established an OHS
Ketenagakerjaan), we promote worker health through occupational health services for our entire workforce, committee comprising of representatives from each
enhanced coverage of health benefits through private encompassing both employees and non-employee unit. This committee serves as a centralized body to
health insurance providers or third-party providers. This workers. Each business unit appoints officers and/or ensure the dissemination of information and direction
ensures that our employees have access to high-quality committees dedicated to overseeing the implementation regarding OHS practices across the organization. The
healthcare and receive financial support for various of OHS policies within their respective workplaces. OHS Committee operates under the ESG Committee
health services, including inpatient and outpatient These OHS officers bear the responsibility of hazard and is led by the Floor Warden Coordinator, supported
care, dental treatments, and medical checkups. We identification, conducting risk assessments, performing by OHS experts across business units, along with an ESG
also consistently organize vaccination drives for our safety checks, and reporting incidents. In the event of team member. The committee oversees operational
employees and their families in a timely manner. We any incident, immediate escalation to the respective implementation through dedicated OHS teams for
integrate health and safety training into our orientation head offices is required for reporting and investigation. holding companies, real estate, malls, hotels, and
program. Moreover, hotels are equipped with AED In cases of injuries or accidents, corrective actions will be healthcare, ensuring structured safety management
devices. Employees can access relevant materials and promptly implemented to prevent any recurrence. across all sectors.
resources through our learning platform to ensure
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OHS Committee and Group Guidelines
Training Courses (Select) Strengthening Workplace Safety
Training
Type
The OHS Committee plays a vital role in maintaining a safe and healthy workplace across
Real Estate Healthcare Lifestyle
all Business Units (BUs). To strengthen OHS governance, the committee is working
General Emergency response on developing standardized OHS guidelines that align with regulatory requirements,
Training Safety awareness
industry’s best practices, and company policies. These guidelines will serve as a reference
Conducting day / night Fire Drill including drill with Fire
Department in all units
for risk mitigation, safety procedures, and compliance, ensuring a consistent approach
General health & safety across all operations. Regular updates will be made to address emerging risks and on-
Ad hoc: pandemic, new virus news alert the-ground feedback.
Job Specific Electrical engineering Emergency nursing Food safety & hygiene
Training personnel certification clinical and non-clinical management
To enhance safety performance, the committee conducts structured discussions on OHS
Electrical safety General ward nursing First aid certification
non-clinical
reports, reviewing trends, incidents, and near-miss cases. Lessons learned are used to
First aid certification Preventive maintenance
Pharmacy warehouse prevent recurrence and improve workplace safety. The findings will shape future policies,
Floor warden safety Personal hygiene &
clinical
training sanitation including refinements in safety procedures, additional training programs, and better
Handling power tools Pest control resource allocation for high-risk areas. The committee also promotes knowledge sharing
management
by highlighting successful safety initiatives, case studies, and innovative solutions.
Safety equipment review
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As part of our 2030 Sustainability Agenda, we aim for zero
EMPLOYEE NO N - EM PLO YEE W O RK ER
fatalities and high consequence injuries, as well as ≤ 1 lost
O H S P E R FO R M A N C E O HS PERF O RM ANCE
time injury frequency rate. To identify areas for improvement
following OHS incidents, we track incident numbers and
their root causes. We supplement our tracking of incident
numbers with the Lost Time Injury Frequency Rate (LTIFR). 0 0 5 4 2 0 31 17
Fatalities High Recordable Lost Time Fatalities High Recordable Lost Time
LTIFR focuses on serious injuries leading to lost work time,
Consequence Injuries Injuries Consequence Injuries Injuries
providing a more accurate and industry-comparable Injuries Injuries
measure of safety performance. This approach helps
prioritize high-impact safety actions and reinforces a culture
0 0 0.93 0.74 0.07 0 1.11 0.61
Fatality High Total Recordable Lost Time Fatality High Total Recordable Lost Time
focused on preventing severe injuries. Rate Consequence Injury Frequency Injury Rate Consequence Injury Frequency Injury
Injury Frequency Rate (TRIFR) Frequency Injury Frequency Rate (TRIFR) Frequency
Rate Rate (LTIFR) Rate Rate (LTIFR)
In 2024, there were zero high consequence injuries, but we
recorded 2 non-employee worker fatalities18. There were 5
recordable injuries among our employees and 31 recordable 5,388,607 Working
Hours 27,949,138 Working
Hours
injuries among our non-employee workers. Common
injuries included burns, being hit by a falling object, and
falls/slips/trips. We remain committed to achieving our OHS
targets of zero fatalities, zero high consequence injuries, and
a Lost Time Injury Frequency Rate (LTIFR) of less than 1.
Please refer to “Appendix – Workforce Data” on pages 101
to 104 for a full breakdown of our OHS performance, and
“Appendix – Reporting Methodology” on pages 96 to 97 for
the injury definitions and calculation formulas used in our
disclosures.
18
2 non-employee fatalities occurred during an inspection of a malfunctioning pump
inside a sewage treatment plant. The incident was caused by exposure to hazardous
confined space conditions, including poor air quality and high wastewater levels.
As part of our corrective actions, a dedicated OHS team has been established to
enhance safety oversight, particularly for high-risk tasks involving confined space
entry. Comprehensive reviews of confined space procedures have been conducted,
including the implementation of stricter pre-entry checklists, enhanced ventilation
requirements, and improved emergency response protocols. In addition, all personnel
involved in wastewater management will undergo refresher training focused on
confined space safety and hazard recognition, ensuring continuous reinforcement
of safe work practices and fostering a culture of vigilance and accountability across
operations.
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TRAINING & DEVELOPMENT [F.22] [GRI 404]
Our commitment is to foster a talent-driven organization superiors to provide feedback to their teams as an integral and empowering individuals to excel in their roles. 100%
that nurtures the personal growth of our employees, part of the performance cycle throughout the year, of full-time employees receive regular performance and
providing them with the essential skills and knowledge underscores our dedication to employee development career development reviews.
to excel in their roles. The continuous training and and retention. This encouragement towards continuous
development initiatives are crucial for cultivating a high- improvement not only cultivates a positive sentiment In order to strengthen executive-level talent, the Group
performing and productive workforce. among our workforce but also ensures sustained growth also conducts a search for Young Talents throughout the
and success, a commitment that we upheld this year and year to ensure that the Group acquires the best talents.
The increased utilization of digital platforms expanded will steadfastly uphold into the next year and beyond. The Group provides opportunities for young talents to
to providing customized modules covering both soft This year, the Group has created Individual Development join the Management Development Program, which can
and technical skills, tailored based on individual needs Plans for identified talent at all levels. Tailored training and help them achieve their full potential. The Management
identified through ongoing data analysis. To ensure development schemes have been meticulously designed Development Program is specifically designed (custom)
that all employees fully understand and adhere to our to address competency gaps across various functions, according to the competency gaps of each individual
ethical guideline, we provide mandatory annual training. proving effective in enhancing both soft and hard skills and the organizational needs.
This training covers key topics such as the code of
conduct, company policies, corporate governance, the
whistleblowing system, and non-disclosure agreements.
In 2024, the training was still delivered through our
digital learning platform, making it easily accessible and
convenient for employees to complete and refresh their
knowledge. At the end of the training, employees are
required to confirm that they have read and understood
the company regulations, corporate governance
principles, NDA, whistleblowing system, and code of
conduct.
As part of our ongoing commitment to cultivating a high-
performing organizational culture, we firmly believe in the
importance of fair performance ratings and constructive
feedback for our employees. Our comprehensive
performance management system, which encourages
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This program is effective in shaping young talents to Average Training Hours by Employee Position Average Training Hours by Gender
develop into resilient leaders ready to face business
challenges in the future. We foster a strong sense of
connection and open communication through a diverse 10 Non-Staff
range of engagement events between management 14 Staff
and staff. These events include LippoLand Leader’s 37 12 Female
Workshop, Lippo Karawaci Annual Gathering, LippoLand 12
Supervisor
18 Male
Manager
Estate Workshop “Proud to Leap with LippoLand Estate”
and Lippo Leadership Offsite Meeting. 29 Executive
Throughout 2024, our employees collectively engaged
in 48,089 hours of training, equating to an average of 16
hours per employee across various business segments. Furthermore, we continued our comprehensive Group- Our employees attended 835 ESG hours of training
This is a decrease in the total and average number of wide sustainability training curriculum, ensuring that our courses and external engagements. We are dedicated to
training hours due to a deconsolidation of Siloam from all workforce is well-equipped with the necessary knowledge achieving an average of 15 hours of training per employee
workforce-related data. to actively contribute to the Group’s ESG journey. The each year, recognizing the crucial role such training plays
training includes internal sharing of ESG best practices in accomplishing our 2030 Sustainability Agenda. In
Our core training and development goal is to equip and trends, familiarization with the Group’s priorities 2024, our focus is on the expanded implementation of an
employees with knowledge that transforms into practical and standards, and participation in external conferences online ESG training curriculum across all business units
skills, supporting both daily performance and long- and webinars organized by IDX, financial institutions, and a further increase in ESG training hours within our
term career growth. To achieve this, we implement an and accounting firms. This year, we conducted several Group. This year, we spent IDR 373 million on training for
end-to-end learning journey that combines self-paced training sessions to enhance sustainability practices: all employees.
digital modules with interactive formats like workshops, • Climate risk training for risk teams.
role plays, and peer discussions. This blended approach • Decarbonization planning workshops for
ensures employees not only understand key concepts
but also have opportunities to apply them in real business •
business units.
ISSB disclosure workshops for the ESG Committee
835
Total ESG training hours
scenarios. and business units.
• Community engagement program development
This method is applied across a range of key programs, workshops for business units.
including the Leadership Development Program,
Safety Response Program, the Project Management
the • Scope 3 emissions training for the ESG Committee and
Siloam to support their reporting.
3,494
Total OHS training hours
Learning Program, and the Continuous Improvement
Program to drive innovation and efficiency.
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Enhancement To E-Learning Platform Offsite Leadership Meeting
Lippo Learning Hub Strengthening Leadership & Strategy
The Company has rolled out a digital training platform—Lippo Learning Hub, which The Offsite Leadership Meeting 2024 was held in Bandung, bringing together the
serves as our centralized Learning Management System (LMS). This platform hosts a Board of Directors and Managers from across the group. The event provided a
mandatory learning curriculum, including onboarding modules for new employees, valuable opportunity for leaders to collaborate and align key priorities for the future.
regular refreshers on company policies, and structured learning programs aligned With the scenic setting fostering open discussions and strategic thinking, we were
with organizational priorities. The Lippo Learning Hub provides an interactive able to focus on critical aspects of the company’s direction moving forward.
and accessible learning experience, allowing employees to engage with curated
content anytime and anywhere. Through this event, we successfully redefined our new strategy for 2025, setting
clear goals and identifying key initiatives to drive growth and innovation across
Currently, there are hundreds of e-courses available across various topics and the organization. The discussions allowed us to assess current trends, align our
functional areas, enabling continuous upskilling and self-paced learning. To ensure leadership vision, and ensure that all departments are focused on the same strategic
knowledge retention and accountability, the platform integrates interactive objectives, positioning the company for long-term success.
quizzes, enforces minimum passing scores, and features leader boards to boost
engagement and motivation. By combining structured content delivery with
gamified elements, our LMS not only supports skill development but also acts as a
key enabler in building a knowledge-driven, future-ready workforce.
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CHAMPIONING
BEST PRACTICES
We constantly strive to uphold the highest standards of corporate
governance and accountability, ensure strict compliance with
regulations and company policies, as well as promote sustainable
practices across our value chain.
Governance & Accountability
Ethics & Compliance
Data Privacy & Security
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G OVE R N A N C E & ACCO U N TA B I L I TY
COR POR A TE G O V E RN A N C E
[OJK E.1 – E.5] [GRI 2-9 to 2-21]
We believe that Good Corporate Governance (GCG) is General Meeting of
Shareholders
the convergence of three essential elements: Corporate
Governance, Risk Governance, and Sustainability Governance.
Effective oversight and management of these three aspects
of governance are critical to achieving stable and sustainable
growth. A crucial element of effective corporate governance
involves the integration of sustainability into our business Board of Commissioners Board of Directors
strategy and operations. Accomplishing this goal necessitates
the establishment of a strong sustainability governance
framework that engages key decision-makers at all levels of
the organization. This engagement should span vertically, from
the Board level down to the operational level, and horizontally
Nomination & Whistleblowing
Audit Committee
across various business units and corporate functions Remuneration Committee Committee
responsible for driving different aspects of Environmental,
Social, and Governance (ESG) considerations.
Our corporate governance structure consists of the General
Meeting of Shareholders (GMS), the Board of Commissioners Internal Audit ESG Committee
(BoC), the Board of Directors (BoD), and their respective
standing committees, namely the Audit Committee and the
Nomination & Remuneration Committee. This structure serves
to promote responsible business practices and accountability
in decision-making while safeguarding the interests of
Business Units/
shareholders and other stakeholders. Investor Relations Corporate Secretary
Subsidiaries
This section complemented the Corporate Governance Report.
More information can be found on our 2024 Annual Report.
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Committee Roles & Responsibilities
Board of Directors & Board of The Board of Directors (BoD) and the Board of Commissioners (BoC) are the highest governing roles in Lippo Karawaci, guiding the group's
Commissioners strategic direction to ensure alignment material Environmental, Social, and Governance (ESG) issues and the interests of both the business and
stakeholders. The BoD holds ultimate responsibility for the group's performance, while the BoC serves as a supervisory and advisory body to the
BoD. Together, these boards assess the Group's targets and performance, approving public disclosures, including the Annual Report and the
Sustainability Report. The BoD and BoC also review the effectiveness of the risk management process through approval of our ERM framework.
Audit Committee The Audit Committee (AC) assists the BoC to oversee our financial reporting, monitor and evaluate audit plans and implementation, assess the
effectiveness of our risk management and internal control systems, and supervise our compliance with prevailing regulations and accounting
standards, among other duties. The AC carries out their duties and responsibilities according to their charters. As an additional measure to
incorporate sustainability into our framework, the audit focus includes business interruption and ESG considerations. See our annual report for
changes to the audit committee.
Internal Audit Unit The Internal Audit Unit (IAU) supports the AC by monitoring, evaluating, and improving the implementation of internal control, risk management,
and corporate governance processes in line with company policies. The IAU provides objective assurance and independent advice that aims to
improve the operational activities of Lippo Karawaci. The IAU reports directly to the President Director, as well as to the BoC, through the AC. The
IAU carries out their duties and responsibilities according to their charters. Starting from 2023, an ESG Audit has been incorporated into the annual
internal audit plan and will be conducted each year.
Whistleblowing Committee The Whistleblowing Committee is a dedicated body within the Group that serves as a crucial component of the Group's ethics and compliance
framework. Its primary role is to facilitate and oversee the reporting and investigation of concerns or complaints raised by employees or other
stakeholders regarding potential misconduct, unethical behavior, or violations of company policies.
Nomination & Remuneration The Nomination & Remuneration Committee (NRC) develops and maintains a transparent and formal process for the appointment of new Directors
Committee to the Board and makes recommendations to the Board on a general framework of remuneration. The nomination and selection process for the
highest governance body is based on several parameters. The appointment of the Board of Directors and the Board of Commissioners is carried out
through the mechanism of the General Meeting of Shareholders (GMS), where the nomination process takes into account recommendations from
the NRC and requirements based on the provisions of applicable regulations, such as:
The Group’s Articles of Association and applicable laws and regulations.
Personal qualifications of candidates; and
Knowledge and/or expertise in the sectors needed by the Group.
ESG Committee The ESG Committee, compromising 3 BoD directors including the Group CEO, is appointed by the BoD to assist in setting the direction for the
Group’s ESG strategy, policies and initiatives. The ESG Committees main role is to have oversight on all ESG matters, this includes setting and
monitor ESG targets, spearheading new ESG initiatives, reviewing ESG disclosures and undertaking any other ESG-related tasks set out by the BoD.
The ESG Committee meets at least four times a year and reports periodically to the BoD and BoC on its activities and recommendations.
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ES G G OV E R NA N C E B E S T P R A C T IC E and set at twice a year, with additional meetings to be We also launched continuous ESG training for BU
held as directed by the Chairman when necessary. Please management teams and ESG representatives. We also
We have established a robust sustainability governance refer to our website for the full ESG Charter document: formalized ESG Steering Group Oversight, ensuring
structure that provides oversight and drives the https://www.lippokarawaci.co.id/investor-center/board- regular performance reviews and alignment with the
implementation of environmental, social and governance committee-charter Group’s sustainability strategy.
(ESG) initiatives at all levels of the organization. Our
sustainability governance is led by the ESG Committee, In addition, as a follow-up to last year’s audit, we ESG Committee Agenda
overseen by the ESG Steering Group, and supported standardized data collection through updated ESG
by the Group Sustainability Function. Please refer to Reporting SOPs, established a formal ESG Data Review Aside from reviewing ESG performance and risk
“Sustainability Governance” on page 20 for an overview Workflow to clarify roles and enhance data governance management, the ESG Committee also discussed the
of the roles and responsibilities within our sustainability and strengthened ESG Data Quality Control by mandating following matters below in 2024.
governance structure. source documentation for all data submissions.
The ESG Steering Group serves as the primary platform
ESG Committee Agenda Discussion & Resolution Points
for translating the Group’s ESG strategy into actionable
initiatives at the BU level. To enhance governance and ISSB Transition – Updates to global sustainability disclosure standards Preparation for ISSB adoption, including adjustments to data collection,
effectiveness, each BU will be appointed a dedicated ESG and implications for Indonesia’s regulatory requirements internal controls, and reporting frameworks
PIC. This aims to improve coordination & accountability Sustainability-Related Risks & Opportunities (i.e. Non-Climate) Preparation for ISSB adoption via a three-year phased approach. The TCFD
as each PIC takes ownership of their BU’s initiatives and report will be enhanced to include sustainability related risks & opportunities
reporting, create a regular feedback loop by formalizing
Double Materiality Assessment Material topics selection, climate related risks and opportunities and
a structure and strengthen ESG performance at BU level sustainability related risks and opportunities will include a double materiality
by regular monitoring. assessment
2030 Sustainability Agenda 2030 Sustainability Agenda will be revised due to Siloam’s deconsolidation and
enhanced target setting where targets have already been achieved
In 2024, we focused on strengthening our sustainability
governance, by updating our ESG Committee Charter Updated Energy Management Regulation - Indonesia introduced new Align the Group’s energy policies with these regulations, including improving
regulations on energy management, requiring companies to enhance monitoring, reporting, and energy-saving initiatives
to reflect the evolving roles and responsibilities of the
their energy efficiency practices
committee, aligning with LK governance, policies, and
Updated Solar PV Regulation - Recent updates to solar PV regulations Accelerate solar adoption at various properties, addressing regulatory,
ESG priorities. The Charter is periodically reviewed and
create new opportunities and obligations for companies adopting technical, and financial considerations, including approval of pipeline projects
evaluated to ensure its relevance. With recent changes renewable energy
in our board structure our new President Director,
Sustainable Finance Taxonomy - Indonesia’s Sustainable Finance Review of how this taxonomy affects access to green loans, sustainability-linked
Marlo Budiman, has been appointed as Chairman Taxonomy defines what qualifies as green, sustainable, and transition financing, and ESG-related investments
activities for financing purposes
of the ESG Committee. In addition, the frequency of
mandatory committee meetings has been reassessed PROPER Assessment - PROPER is Indonesia’s official environmental Strategies to improve and standardize environmental compliance across all
performance rating system for companies BUs to achieve higher PROPER ratings
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix Implementation of ESG Data Management System Improving ESG Accountability In 2024, our ESG Data Management System was implemented through a phased approach to align with BU needs. The process started with BU consultations to understand ESG data collection, reporting needs and challenges, ensuring seamless user experience for BU’s utilizing the platform. The system was then developed with technology partners, integrating global ESG standards and governance requirements. Before launch, user testing was conducted, followed by training for 250+ participants across BUs, totaling 400+ training hours, ensuring effective system adoption. In Q3 the system went live, allowing data input and document attachments for audits. A BU roadshow gathered feedback for enhancements, leading to the next development phase in Q4, introducing OCR, API integrations, enhanced reporting features, and a sustainability goal tracker. To improve ESG data accuracy, we updated ESG Reporting SOPs at the Group and BU levels, ensuring consistent data collection and reporting cycles. A formal ESG Data Review Workflow clarifies roles and responsibilities, reducing errors and enhancing accountability. Source documentation is now required for all submissions to improve traceability and auditability. Measuring the Efficacy of Siloam’s ESG Practices Improving ESG Practices In alignment with Lippo’s enduring push for greater ESG practices, Siloam attained the Bronze Medal for Ecovadis in 2024 by placing in the top 35% globally (79th percentile) with a score improvement from 46/100 to 64/100. Ecovadis plays a crucial role in our sustainability journey by providing a comprehensive assessment of our environmental, social, and governance practices, enabling us to identify areas for improvement and demonstrate our commitment to responsible business practices to stakeholders. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. More than 130,000 companies globally have been rated by EcoVadis. The improvement from 2023 shows our commitment to responsible business practice. 89 PT LIPPO KARAWACI TBK | 2024 SUSTAINABILITY REPORT
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ETHICS & COMPLIANCE [GRI 2-23, 2-24, 2-27]
COD E OF CON D U C T [GRI 206, 2-23 to 2-24, 2-26 to 2-27]
We prioritize sustainability and ethical business practices. In our Healthcare segment, we actively engage with In 2024, there were no administrative sanctions imposed
The Group consistently ensures that the Group’s Code of our vendor partners to integrate sustainability into our on the Group, members of the Board of Commissioners
Conduct is aligned with the best practice and the latest procurement processes. As part of our commitment to and members of the Board of Directors, by the Financial
business conditions. The last update to the Group’s ESG principles, we require vendor tender participants to Services Authority or other relevant authorities. We have
Code of Conduct was undertaken on December 15, disclose their ESG initiatives, ensuring alignment with not engaged in any activities that violate regulations
2022 and is readily accessible on the Group’s website. our sustainability goals. In addition, we conduct regular governing anti-bribery, anti-competitive behavior, anti-
Our code of conduct covers responsible employment ESG socialization sessions through our Vendor Forum trust, or monopoly practices throughout our business
& workplace practices, conflicts of interest, business events, held either semi-annually or annually, to educate operations.
ethics and relations with external parties. To instill these and collaborate with vendors on best practices, fostering
values within our team, we conduct mandatory annual a shared commitment to responsible and sustainable
training covering essential topics such as the code of business operations.
conduct, company rules, good corporate governance, the
whistleblowing system, and non-disclosure agreements. As part of our HR policy, we have a grievance mechanism,
At the conclusion of the training, employees are required and we also maintain a publicly accessible whistleblowing
to acknowledge that they have read and comprehended channel. Our organization has established a robust
the provisions outlined in the Group regulations, GCG, whistleblowing system to enable employees to report
NDA, whistleblowing system, and code of conduct. concerns related to human rights, labor rights, or
anticorruption issues. Employees can choose to report
In our Lifestyle segment, we require vendor registration directly to our dedicated whistleblowing committee
when engaging with suppliers, ensuring transparency or use our designated email address. This system
and accountability. This process includes collecting work ensures confidentiality and anonymity, promoting an
references from other hotels or entities, allowing us to environment where employees can voice concerns
conduct thorough reference checks. In addition, health without fear of retaliation. The reports received
and safety considerations are emphasized during tender are thoroughly investigated by our whistleblowing
clarifications, ensuring compliance with our standards committee, and appropriate actions are taken to address
from the outset of any project. any identified violations. There were zero reported cases
of whistle blowing through our whistle blowing channel.
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Type of Compliance Disclosure Cases
General Non-compliance with laws and regulations resulting in monetary fines 0
Non-compliance with laws and regulations resulting in non-monetary sanctions 0
Corruption Legal cases regarding corruption and bribery brought against the organization or its employees 0
(This does not include any employee/vendor corruption cases that were resolved internally)
Competition Legal action (pending or completed) regarding anti-competitive behavior and violations of anti-trust and monopoly legislation in 0
which the Group has been identified as a participant
Social/Economic Non-compliance with any relevant social and economic laws and regulations, including human rights and labor laws 0
Environmental Non-compliance with any relevant environmental laws and regulations 0
Health & Safety Non-compliance with regulations and/or voluntary codes concerning the health and safety impacts of products and services 0
Data Privacy Cases or substantiated complaints concerning breaches of customer privacy and losses of customer data 0
Legal proceedings associated with data security and privacy 0
Product Info Non-compliance with regulations and/or voluntary codes concerning product and service information and labelling 0
Non-compliance with regulations and/or voluntary codes concerning marketing communications, including advertising, 0
promotion, and sponsorship
A NT I COR R U P T IO N [GRI 205] and risk identification is comprehensive. In 2024, our and procedures, whereby they will be required to sign a
risk assessment covers all business processes including Vendor Integrity Pledge that communicates the Group’s
Anti-corruption policies have been incorporated into our Plan to Construct, Inventory Management, Sell to Collect, zero tolerance towards corruption.
Code of Conduct since 2022. We ensure anti-corruption Procure to Pay, until Information Technology. Accessible
policies are socialized and reviewed annually and through the internal training portal, this program covers In 2024, Lippo Malls actively promoted ESG principles
Maker-Checker-Approver procedures, particularly in crucial topics including Good Corporate Governance among its suppliers and vendors, focusing on anti-
financial expenditures, are to be carried out by different (GCG), whistleblowing, company regulations, the code of corruption, human and labor rights, environmental
employees. At Lippo Karawaci, 100% of our operations conduct, and non-disclosure agreements. This year, we compliance, and health and safety. This included
are assessed for risks relating to corruption by our Risk achieved a 99% completion rate for our annual employee implementing an Integrity Pact and requiring suppliers
and Internal Control Team as part of an annual risk training on Code of Conduct and anti-corruption to agree to anti-bribery terms online. These efforts
assessment cycle. Risks are identified using a business policies. We also keep our suppliers and business reinforced the Supplier Code of Conduct across all vendor
process approach to ensure all processes are covered partners informed about our anti-corruption policies interactions.
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SUSTA I NA BLE P RO C U RE M E N T P O L ICY
In line with our 2030 Sustainability Agenda, we have This initiative helps mitigate the risk of fake companies
formulated a Group-wide Sustainable Procurement and fraudulent transactions, ensuring that all selected
Policy and Supplier Code of Conduct, which outlines vendors meet our quality and reliability standards.
our approach to conducting business with a focus In summary, better procurement management and
on ethics, labor and human rights, health and safety, integrating digitalization into our processes have
and environmental sustainability. This policy seeks to increased transparency and accountability between us
enhance governance across our value chain, such as by and our suppliers.
mitigating legal and reputational risks stemming from
supplier misconduct. Every supplier is required to endorse In 2024, our Real Estate, Healthcare, and Lifestyle
the Supplier Code of Conduct by signing a Supplier segments focused on strengthening operational
Statement of Commitment. This will be done on a one- efficiency, procurement processes, and supply chain
off basis upon signing a new/renewed contract. Existing resilience. To minimize disruptions, we enhanced vendor
suppliers will also need to sign this retrospectively, in management by finalizing a standardized Procurement
phases based on our business units’ prioritization. Refusal SOP (expected by January 2025) and establishing
to sign the Commitment requires reasonable cause in relationships with backup vendors. Standardized
writing. Our Key Principles include Business ethics, fair templates for Cooperation Agreements (PKS) and
competition, insider trading, prohibition of harassment Memorandums of Understanding (MoU) are also being
and intimidation, human and labor rights, information developed to improve contract consistency.
confidentiality, prohibition of bribery and corruption,
anti-nepotism and environmental responsibility. Cost management was prioritized across all segments
through bulk negotiations, cost-saving reports, and
Our organization continues to make improvements to economies of scale in procurement. To enhance
procurement policies and processes, with a particular efficiency, digitalization initiatives are underway,
focus on supply chain resilience, cost management, and including the planned implementation of an end-to-
digitization. Several business units have transitioned end ERP system in 2025 and an E-catalog module by Q2
from a paper-based approval process to utilizing digital 2025. In addition, our Healthcare segment introduced
SaaS solutions. In addition, we have incorporated Google an online procurement platform to streamline vendor
Forms to facilitate communication with vendors. In registration, improving transparency and accessibility.
2024, we introduced the Vendor Visit Form to assess These digitalization efforts have streamlined capital
the credibility of vendors and contractors engaged in and operational expenditure management, improving
transactions with us. accuracy, transparency, and decision-making.
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DATA PR IVACY & S ECU R I TY
We prioritize data privacy and security, particularly as we Moreover, we are actively fostering a culture of IT
Personally Protected
expand our digital systems and manage large volumes of security awareness among our employees. Through Identifiable Health
Description
customer data. Our dedication to safeguarding customer comprehensive socialization efforts, employees are Information Information
privacy is reflected in our Code of Conduct, which requires educated on various cyber threats, with a particular (PII) Only (PHI)
all employees to uphold and protect customer data focus on phishing attacks. By equipping employees Number of data 0 0
privacy. We have established rigorous National Institute with knowledge and tools to recognize and address breaches
of Standards and Technology (NIST) frameworks for data potential security risks, we aim to establish a robust
Number of 0 0
governance, including policies, structures, processes, defense mechanism against cyber threats. In our customers
and controls to ensure effective management and Lifestyle segment, we strengthened our cybersecurity affected
oversight of data. We consistently assess our IT protocols and data privacy training in 2024 to enhance awareness
and infrastructure to uphold robust cybersecurity and protection against digital threats. Our Cyber
measures. We have implemented several cybersecurity Security Awareness training, available daily on the
enhancements: Next Generation Firewalls for improved Lippo Malls Academy platform, now covers phishing,
security and network segmentation; Web Application social engineering, safe browsing, and personal data
Firewalls (WAF) to protect web applications; and protection, with rewards for top learners. At Aryaduta, the
Endpoint Detection and Response (EDR) for real-time head office conducts data privacy training across all units,
endpoint monitoring, data collection, and automated emphasizing the risks of data breaches and unauthorized
response capabilities. access. These sessions equip employees with essential
tools to safeguard sensitive information, reinforcing our
In response to the evolving landscape of digital threats, we commitment to maintaining strong data privacy policies.
are intensifying our cybersecurity measures to safeguard
vital information and bolster system integrity. By ensuring Furthermore, the Group emphasizes data privacy and
that software and systems remain current, vulnerabilities protection as core principles embedded in its Code of
are minimized and resilience against cyber threats is Conduct. Employees are mandated to comply with data
fortified. In addition, proactive steps such as upgrading protection laws, maintain the confidentiality of customer
antivirus versions and implementing vigilant monitoring data, and obtain explicit consent before disclosing any
facilitate swift responses to emerging threats, mitigating information. These stringent measures underscore our
the risk of data breaches and system compromises. As a commitment to upholding the highest standards of data
proactive measure, we perform vulnerability scans of our privacy and security while maintaining the trust and
IT assets on a regular basis to effectively manage cyber confidence of our customers.
risk, identify and remediate vulnerabilities.
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix Enhancing Data Privacy and Security Through Internal Employee Training Training Employees to Stay Cyber-Safe Lippo conducts data privacy and security training across all units to reinforce the importance of protecting sensitive information and preventing cyber threats. These sessions raise awareness of risks like data breaches and unauthorized access, equipping employees with the necessary tools to safeguard company data. As part of this initiative, phishing awareness and Multi-Factor Authentication (MFA) training were provided to employees, helping them recognize cyber threats and enhance account security. By fostering a culture of cybersecurity awareness, Lippo strengthens its commitment to robust data privacy policies and digital protection. Healthcare Data Privacy Privacy is the Heartbeat of Digital Healthcare Siloam recognizes the importance of protecting the privacy and security of personal data. As our healthcare business handles confidential patient information, we must accelerate our digital transformation. Siloam has implemented robust data privacy protocols to safeguard the rights of all individuals whose data is processed, including patients, employees, customers, healthcare professionals, suppliers, visitors, and other business partners. Siloam is proud to have received ISO-27001 certificate for Data Quality and Management. Siloam maintained the protection of its patient data throughout 2024, with no incidents of data leakage. The Group also recognizes the importance of protecting its information systems against cyberattacks, information leakage, and misuse of data or systems. The organization’s ICT team maintains a range of information security countermeasures based on applied laws and regulations. This includes collaborating with professional firms to assist their IT in data protection, detection, and response and implementing the international cybersecurity framework NIST-CSF. Through these efforts, Siloam ensures that its information systems remain secure and protected against unwanted activities. 94 PT LIPPO KARAWACI TBK | 2024 SUSTAINABILITY REPORT
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APPENDIX
Reporting Methodology
Environmental Data
Workforce Data
Climate Scenario Analysis
Content Index
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REPORTING METHODOLOGY
GHG EM I SS I O N S In line with this, Siloam’s full deconsolidation will be ◊ The tenanted areas in our high-rise residentials and
reflected in the FY2025 Annual and Sustainability malls are excluded from our operational GFA, as
Lippo Karawaci’s GHG inventory adheres to the World Reports, we will recalculate our baseline accordingly for the emissions from these areas are classified under
Resources Institute (WRI) and World Business Council next year’s report by excluding Siloam. Scope 3.
for Sustainable Development’s (WBCSD) Greenhouse ◊ There are boundary changes for high-rise residential,
Gas Protocol Initiative (GHG Protocol) for corporate GHG Additional Notes as we transfer ownership of strata-titled assets such
accounting and reporting. Our reporting boundaries as Kemang Village.
are based on the operational control approach, which • Our reporting scope comprises high-rise residences, ◊ The operational GFA of our hotel portfolio excludes
includes assets that are wholly owned or leased by Lippo hospitals, malls, hotels, and other real estate leisure properties such as Aryaduta Country Club
Karawaci and our subsidiaries, as well as operations operations, including water treatment plants and Imperial Klub Golf, which have significantly
for which we have the full authority to introduce and and managed residential/ commercial/industrial different profiles in terms of energy consumption
implement our operating policies. areas within our townships. We have excluded and operational GFA compared to hotels.
tenanted areas and managed properties for ◊ With the exception of high-rise residential buildings,
We have established accounting rules to ensure that our which we do not have operational control, such we do not calculate the operational GFA for our other
emissions disclosures remain consistent over time. In line as franchise operations and strata-titled assets real estate operations because these operations are
with the GHG Protocol, a recalculation shall be performed for which we do not have a controlling stake. not confined within built up areas and the intensity
if any significant qualitative or quantitative change is data cannot be accurately derived based on land area.
made to the data, inventory boundary and/or methods. • Energy intensity is calculated by dividing the
We have adopted the definition of “significant” as a total consumption of fuel and electricity by the • Base year emissions and any historic data are
structural change such as a merger, acquisition, or data operational GFA for the following building types: not recalculated for organic growth or decline.
restatements exceeding 5% of base year Scope 1 and 2, high-rise residences, hospitals, malls, and hotels. Organic growth/decline refers to increases or
in alignment with GHG Protocol. 2019 was chosen as our decreases in production output, changes in
baseline year as it most accurately reflects our business • GHG emissions intensity is calculated by product mix, and closures and openings of assets
as-usual emissions prior to the business disruption dividing the total Scope 1 and 2 emissions by that are owned or controlled by the Group.
caused by the COVID-19 pandemic. As the Siloam the operational GFA for each building type.
divestment took place in the second half of this year, we • 2024 emission and energy conversion factors are
are ensuring a structured approach by following the GHG • Operational GFA may change from year to year due based on latest DEFRA guidelines, with refrigerant
Protocol Fixed Year - All Year Option as a reference for our to the development of new properties, expansion of GWP19 values from the GHG Protocol and IPCC AR5.
emissions reporting methodology. operations within a built area, and transfer of ownership Grid emission factors are sourced from Indonesia’s
and/or operational control. Notable exclusions:
19
GWP (Global-warming potential) is a term used to describe the relative potency, molecule for molecule, of a greenhouse gas, taking account of how long it remains active in the atmosphere.
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MEMR latest dataset and market-based method is used our water consumption data. Data collected consists of OCCUPATION AL H EAL TH & S AF ETY
for Scope 2 emissions. For Scope 3, we reference the recorded water withdrawal and production data at the
ICE database, EXIOBASE, Carbon Footprint Ltd, DEFRA, water treatment plant level. Medical Treatment Case (MTC)
and US EPA 20
industry emission factors to account Work-related injury which requires the treatment beyond
for embodied carbon and other indirect emissions. Wastewater Discharge first aid by a medical practitioner, but can return to work
Our wastewater discharge data is inclusive of both our within 1x24 hours after the incident.
• We closely monitor our use of Hydrochlorofluorocarbons internal and tenants’ discharge, as we do not currently
(HCFCs) such as freon types R-11, R-22, and R-123, sub-meter our tenants’ discharge. Some assets report Lost Time Injury (LTI)
which we are committed to phasing out by 2030 data on actual wastewater discharge as recorded by their Work-related injury which results in an employee being
in line with Indonesian Government regulations. meters. For those which are unable to disclose metered away from work for more than 1x24 hours after the day on
We currently report the fugitive emissions from data, we take the approach of estimating wastewater which the injury occurred.
these HCFCs separately from Kyoto Protocol discharge as 80% of water consumption.
gases disclosed under our Scope 1 emissions. High Consequence Injury
W A STE Work-related injury that results in an injury which the
WA T E R & WAS T E W AT E R worker can’t, doesn’t, or is not expected to recover fully to
Non-Hazardous Waste pre-injury health within six months (exclude fatality).
Water Consumption Our non-hazardous waste data reflects waste collected
Our water consumption corresponds to the volume from both our business operations and residents/ tenants. Recordable Injury
of water drawn into our assets or buildings. Our water We collect data from the third-party vendors whom we Medical Treatment Case (MTC) and Lost Time Injury (LTI)
consumption data is consistent with the way our engage to collect and manage non-hazardous waste at are jointly classified as Recordable Injury.
inventory for energy and GHG emissions is compiled: our assets and townships.
the operational control approach. Given the same Total Recordable Injury Frequency Rate
boundaries, we have excluded water consumption by Hazardous Waste TRIFR = [No. of MTC + LTI] X 1,000,000 / [No. of Manhours]
residents/ tenants. Our hazardous waste data only reflects waste collected
from our business operations. We collect data from the Lost Time Injury Frequency Rate
Water Withdrawal third-party vendors whom we engage to collect and LTIFR = [No. of LTI] X 1,000,000 / [No. of Manhours]
In addition to the water consumption by our business manage hazardous waste at our assets and townships.
units, we report on water withdrawal by our WTD, Tenants that produce hazardous waste (e.g. industrial High Consequence Injury Frequency Rate:
which supports some of our township management tenants at Delta Silicon Industrial Park) separately arrange High Consequence Injury Frequency Rate = [No. of High
operations. As water withdrawal is tied to the demand for hazardous waste collection by their own vendors. Consequence Injury] X 1,000,000 / [No. of Manhours]
for treated water, which includes residents, tenants and
other businesses located in our townships but we have Fatality Rate:
also clearly separated this water withdrawal data from Fatality Rate = [No. of Fatality] X 1,000,000 / [No. of Manhours]
20
US EPA (United States Environmental Protection Agency) is an independent agency of the United States government tasked to protect human health and the environment.
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E NVI R O N M E N TA L DATA
EN E R G Y CON S U M P T IO N G HG E MI SSI O N S
Energy Consumption (103 GJ) 2022 2023 2024 GHG Emissions (ktCO2e) 2022 2023 2024
Electricity 1,194 1,253 1,313 Scope 1 12.27 18.59 11.33
Real Estate 145 148 141 Mobile Combustion 1.36 1.22 1.33
Healthcare 399 417 439 Real Estate 0.60 0.56 0.51
Lifestyle 650 687 733 Healthcare 0.59 0.54 0.61
Petrol 18 15.7 15.3 Lifestyle 0.17 0.13 0.21
Real Estate 7.2 6.3 6.0 Stationary Combustion 2.47 2.72 1.97
Healthcare 8.6 7.2 7.2 Real Estate 0.21 0.09 0.06
Lifestyle 2.5 2.2 2.1 Healthcare 1.00 1.61 0.87
Biodiesel 1.6 18.9 11.5 Lifestyle 1.27 1.03 1.04
Real Estate 1.6 3.2 2.1 Fugitive 8.44 14.65 7.95
Healthcare 0 8.2 3.1 Real Estate 0.27 0.22 0.03
Lifestyle - 7.5 6.3 Healthcare 1.15 4.20 2.28
Diesel 18.9 - 0.9 Lifestyle 7.01 10.2 5.64
Real Estate 2.8 - 0 Scope 2 262 274 287
Healthcare 10 - - Electricity 262 274 287
Lifestyle 6.2 - 0.9 Real Estate 32 33 31
CNG - 1.4 1.5 Healthcare 88 92 97
Real Estate - - - Lifestyle 142 150 159
Healthcare - - - Scope 3 167 316 453
Lifestyle - 1.4 1.5 Purchased Goods & Services 49 49 62
LPG 18 15.7 11.3 Fuel & Energy Related Activity - T&D
- 64 113
Electricity Losses
Real Estate 0.4 0.4 0.4
Waste Generated in Operations - 23 29
Healthcare 4.1 11 7.1
Business Travel - Airplane 0.6 0.8 0.7
Lifestyle 14 4.6 3.8
Downstream Leased Asset - Tenanted
Natural Gas - 13 13.2 117 110 139
Area
Real Estate - - - Use of Sold Product -Managed Fee
- 69 109
Healthcare - 8.9 6.3 Building
Lifestyle - 3.9 6.9
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EN E R G Y I NT E N S IT Y B Y B U IL D IN G T YP E W A TE R CO NSUMPTION BY BUS IN ES S S EGMEN T
Building Energy Intensity (GJ/m2) 2022 2023 2024 Water Consumption (103 m3) 2022 2023 2024
High-rise Residential 0.196 0.160 0.165 Purchased Water 3,457 3,489 3,551
Hospitals 0.793 0.850 0.870 Real Estate 520 465 673
Malls 0.545 0.573 0.615 Healthcare 1,508 1,360 1,382
Hotels 0.418 0.439 0.468 Lifestyle 1,429 1,664 1,496
Average 0.519 0.534 0.577 Rainwater 94 708 505
Real Estate 18 588 417
GHG EM I SS I O N S IN T E N S IT Y B Y B U IL DI NG TYP E Healthcare - - -
Lifestyle 76 120 89
Building GHG Intensity (tCO2e/m2) 2022 2023 2024
Recycled Wastewater 458 398 607
High-rise Residential 0.043 0.036 0.037
Real Estate 78 101 175
Hospitals 0.171 0.184 0.189
Healthcare - - -
Malls 0.124 0.128 0.138
Lifestyle 381 297 432
Hotels 0.087 0.100 0.094
Average 0.115 0.118 0.127
W A TE R W I THDR AWAL BY S OUR CES
WA T E R CON S U M P T IO N IN T E N S IT Y B Y B UI LDI NG TYP E Water Consumption (103 m3) 2022 2023 2024
Building Water Consumption Recycled Wastewater 209 716 693
2022 2023 2024
Intensity (m3/m2) Rainwater 410 530 574
High-rise Residential 0.44 0.56 0.97 Purchased Water 18,857 19,327 19,410
Hospitals 2.84 2.56 2.60
Malls 1.29 1.44 1.46 W A STE W A TE R TR EATED BY WATER TR EATMEN T DIVIS ION
Hotels 2.10 2.25 1.92 Treated Wastewater
2022 2023 2024
Average 1.58 1.61 1.70 (103 m3)
Diverted 1,043 2,044 2,231
Discharged 3,120 2,167 1,792
Total 4,163 4,211 4,023
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WA STEWA T E R G E N E R A T E D B Y B U S IN E SS SE G ME NT
2022 2023 2024
Business Segment (103 m3)
Discharged Diverted Total Discharged Diverted Total Discharged Diverted Total
Real Estate 393 153 546 419 691 1,110 563 643 1,207
Healthcare 1,020 41 1,061 770 126 896 849 145 994
Lifestyle 1,128 589 1,717 1,175 640 1,815 1,174 776 1,950
Total 2,541 783 3,324 2,364 1,457 3,821 2,588 1,564 4,152
WA STE M A N A G E M E N T B Y B U S IN E S S SE G ME NT
Non-Hazardous (Tons) Hazardous (Tons)
Year Business Segment
Disposed Diverted Disposed Diverted
Real Estate 41,491 1,714 592
Healthcare 2,911 149 1,473 37
2024
Lifestyle 9,993 1,339 24 5
Total 54,395 3,201 2,090 42
Real Estate 33,662 1,775 616 -
Healthcare 2,697 182 1,342 35
2023
Lifestyle 7,987 1,202 17 2
Total 44,346 3,159 1,975 37
Real Estate 36,240 21 516 -
Healthcare 2,615 51 1,347 11
2022
Lifestyle 11,865 1,352 1 -
Total 50,720 1,424 1,864 11
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WORKFORCE DATA
Given the deconsolidation of Siloam from workforce-related data going forward, all historical datasets have been normalized to exclude the Healthcare segment. This allows for a clearer
understanding of trends and patterns across the Real Estate and Lifestyle segments.
EMPLOY EE S B Y B U S IN E S S S E G M E N T E MP LO YME NT BY R EGION
Year Real Estate Lifestyle Total Bali, Nusa
Tenggara,
2024 986 2,076 3,062 Year Java Kalimantan Sumatra Sulawesi
Maluku,
2023 981 2,007 2,988 Papua
2022 968 1,820 2,788 2024 2,359 42 295 210 156
2023 2,216 102 238 195 237
2022 Information not available
EMPLOY EE ST AT U S
Year Permanent Employees Contract Employees Total
E MP LO YME NT BY EDUCATION AL QUAL IF ICATION S
2024 1,708 1,354 3,062
2023 1,698 1,290 2,988
High School Undergraduate Postgraduate
2022 1,673 1,115 2,788 Year Diploma Total
Certification Degree Degree
NON- E M P LOY E E W O RK E RS B Y B U S INE SS SE G ME NT 2024 750 420 1,820 72 3,062
2023 689 389 1,765 145 2,988
Year Real Estate Lifestyle Total 2022 599 345 1,694 150 2,788
2024 6,685 5,544 12,229
2023 7,076 6,369 13,445
2022 7,269 5,656 12,925
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LOC A L & FORE IG N E M P L O YM E N T
Executive Manager Supervisor Staff Non-Staff
Year
Local Foreign Local Foreign Local Foreign Local Foreign Local Foreign
2024 12 3 424 5 717 - 1,791 - 110 -
2023 14 4 422 6 687 - 1,745 - 110 -
2022 Information not available
NE W HI R E BY G E N D E R E MP LO YE E TURN OVER BY GEN DER
Year Female Male Total Year Female Male Total
2024 242 409 651 2024 256 469 725
2023 275 412 687 2023 211 241 452
2022 298 487 785 2022 204 257 461
NE W HI R E BY A G E G RO U P E MP LO YE E TURN OVER BY AGE GR OUP
Year <30 30-50 >50 Total Year <30 30-50 >50 Total
2024 334 302 15 651 2024 247 411 67 725
2023 356 320 11 687 2023 197 249 6 452
2022 401 366 18 785 2022 227 206 28 461
NE W HI R E BY B U S IN E S S S E G M E N T E MP LO YE E TURN OVER BY BUS IN ES S S EGMEN T
Year Real Estate Lifestyle Total Year Real Estate Lifestyle Total
2024 246 405 651 2024 249 476 725
2023 224 463 687 2023 135 317 452
2022 258 527 785 2022 170 291 461
EMPLOY EE BY G E N D E R E MP LO YE E B Y AGE GR OUP
Year Female Male Total Year <30 30-50 >50 Total
2024 1,201 1,861 3,062 2024 942 1,912 208 3,062
2023 1,172 1,816 2,988 2023 948 1849 191 2,988
2022 1,116 1,762 2,788 2022 889 1,724 175 2,788
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EMPLOY EE PO S IT IO N B Y G E N D E R
Executive Manager Supervisor Staff Non-Staff
Year
Female Male Total Female Male Total Female Male Total Female Male Total Female Male Total
2024 1 14 15 145 284 429 264 453 717 772 1,019 1,791 19 91 110
2023 0 18 18 147 281 428 233 454 687 771 974 1,745 21 89 110
2022 2 19 21 145 276 421 217 403 620 733 895 1,628 19 79 98
EMPLOY EE PO S IT IO N B Y AG E G R O U P
Executive Manager Supervisor Staff Non-Staff
Year
<30 30-50 >50 Total <30 30-50 >50 Total <30 30-50 >50 Total <30 30-50 >50 Total <30 30-50 >50 Total
2024 - 6 9 15 8 343 78 429 103 549 65 717 780 961 50 1,791 51 53 6 110
2023 0 6 12 18 7 342 79 428 105 530 52 687 786 916 43 1,745 50 55 5 110
2022 0 5 16 21 11 329 81 421 107 475 38 620 735 857 36 1,628 36 58 4 98
PA R E N TA L LE A V E S
Staff who returned to work after parental Staff who returned to work after parental
Staff entitled to parental leave Staff who took parental leave
Year leave leave (12 month retention)
Female Male Female Male Female Male Female Male
2024 547 1,260 60 41 60 41 58 38
2023 591 1,449 49 62 49 62 37 49
2022 Information not available 62 61 Information not available
RETU R N T O W O RK & R E T E N T IO N RA T E S NUMB E R O F HOUR S WOR KED
Business Return to work rates Retention Rates Year Employees Non-Employee Workers
Segment
Female Male Female Male 2024 5,388,607 27,949,138
2024 100% 100% 97% 93% 2023 5,263,080 29,850.522
2023 100% 100% 76% 79% 2022 6,198,896 25,684,208
2022 Information not available
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OC CU PA TI ON A L H E A L T H & S A F E T Y
2022 2023 2024
OHS Metrics
Non-Employee Non-Employee Non-Employee
Employees Employees Employees
Workers Workers Workers
Fatality 0 1 1 1 0 2
High Consequence Injuries 0 0 0 0 0 0
Number of Recordable Injuries 3 20 6 45 5 31
Lost Time Injuries (LTI) 1 6 2 13 4 17
Medical Treatment Cases (MTC) 2 14 4 32 1 14
Total Recordable Injury Frequency Rate (TRIFR) 0.48 0.78 1.14 1.51 0.93 1.11
Lost Time Injury Frequency Rate (LTIFR) 0.16 0.23 0.38 0.44 0.74 0.61
Fatality Rate 0 0.04 0.03 0.03 0 0.07
A V E R A G E T R A IN IN G H O U RS B Y E M P L O YE E P O SI TI O N A V E RA G E TRA IN IN G H OUR S BY GEN DER
Year Executive Manager Supervisor Staff Non-Staff Year Female Male
2024 37 29 12 14 10 2024 12 18
2023 11 17 12 10 63 2023 10 15
2022 Information not available 2022 Information not available
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CLIMATE SCENARIO ANALYSIS
As part of our high-level scenario analysis, we examined of flooding due to high rainfall events experienced This affects our water treatment businesses, and also
the potential impact of each physical and transition risk in Indonesia. As a result, this could cause business poses significant social impacts on our stakeholders as
in Indonesia under RCP 2.6 and RCP 8.5 scenarios, based interruptions and infrastructure damage, leading to disruptions in water supplies can impact their health
on 2030 and 2100 time horizons. Our detailed findings are higher financial costs. Flooding could also potentially and safety.
below, which we will continue to review and refine. endanger the safety of our stakeholders at our properties.
Heat stress: We expect an increase in operating costs
PH Y SI C A L R I S K IM P AC T Extreme waves & coastal abrasion (rising sea levels): due to the heightened demand for cooling systems.
Rising sea levels can lead to the erosion of our land bank As temperatures increase, the need for effective
Extreme variability in weather patterns and and damage/devaluation of properties near coastal climate control within our facilities becomes more
precipitation patterns: Indonesia ranks higher than areas, and increased costs from investment in coastal pronounced, resulting in increased energy consumption
the global average in terms of natural hazards and infrastructure adaptation measures. As shown in the and operational expenses. Moreover, the surge in
exposure on the INFORM Risk Scale. This is primarily figures below, Indonesia is at risk for sea level rise, even in temperatures could potentially lead to reduced
attributed to the distinctive characteristics of its a 2.0°C scenario where light blue areas will be under sea revenue and productivity within our workforce. The link
landscape and geographical location which exposes level. The location of our properties suggests that only between elevated temperatures and health concerns
it to various environmental challenges. These make it a limited number of our developments will experience may contribute to a higher rate of absenteeism among
susceptible to extreme weather events, including floods, significant impacts from sea level rise. employees. Heat-related illnesses and discomfort may
landslides, and coastal flooding. The complex interplay prompt more frequent sick leaves, thereby impacting the
of these geographical factors enhances the country’s Landslides: Historically, landslides are the third most overall productivity levels of our workforce.
vulnerability to natural hazards, leading to a higher risk frequent natural hazard in Indonesia. 21
Heavy torrential
profile compared to the global average on the INFORM rain or earthquakes may lead to decreased asset values
Hazard & Exposure
Tropical Cyclone
Risk Scale. Changes in precipitation patterns, including and result in costly repairs from damage to property,
Coastal Flood
prolonged rainy seasons and the presence of tornadoes infrastructure and landbank. Climate change is expected
Earthquake
River Flood
Tsunami
or typhoons, can lead to damage to property and to impact the stability of slopes and bedrock by
Natural
infrastructure, disruption of supply chains, and business influencing precipitation patterns and/or temperature Risk
Country Class
interruption. This results in higher costs incurred, as well variations. While landslides have been infrequent in the
Indonesia Medium 6.7 7.3 8.9 8.3 9.3 1.5 8.1
as posing health and safety risks to our stakeholders. past, we anticipate an increase under an RCP 8.5 scenario.
Global
3.3 3.9 3.7 4.5 2.7 1.6 3.5
Average
Flooding: It is predicted that in Indonesia, under a high Droughts: Indonesia faces significant water stress
emissions scenario, on average 4,215,700 individuals per and a notable risk of drought, as illustrated in the
year may be impacted by flooding caused by sea level rise diagram provided. Prolonged periods of abnormally low
by 2100. Our properties may face increased occurrences rainfall may lead to droughts and a shortage of water. 21
https://climateknowledgeportal.worldbank.org/country/indonesia/vulnerability
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Long-Term Sea Level Outcomes +2.0°C vs. +4.0°C Indonesia Water Risk Indicator22
Drought risk
Below tideline after
4.0oC of global warming 2.0oC of global warming Low Low-medium Medium Medium-high High
(0.0-0.2) (0.2-0.4) (0.4-0.6) (0.6-0.8) (0.8-1.0)
TR A NSI T I ON R IS K IM P AC T
Disruption of new (low emission) technology: Greater expectations and demand from customers Since the establishment of the Green Building Council
Technological advancements can accelerate the shift to and investors for more sustainable products and Indonesia (GBCI) in 2009, more properties are pursuing
a low-carbon economy, posing a challenge to businesses services: There is an increasing market trend that voluntary green building certifications such as Greenship
relying on outdated fossil-fuel technologies. This may reveals customers are increasingly aware of ethical and certification and EDGE certification. It is observed that
lead to additional costs from switching to more energy- sustainable purchasing practices. This shift is driven the majority of green building certifications are in
efficient equipment as well as low-carbon processes by a heightened awareness of environmental and commercial properties rather than residential properties.
and materials. With the increasing awareness of green social concerns, coupled with a preference for making Therefore, the present effect of this risk on our real estate
and energy efficient buildings, we need to monitor the purchasing decisions that align with values such as business is less pronounced, given our emphasis on
emergence of low-emission technologies that may sustainability, social responsibility, and ethical production. residential products.
present decarbonization opportunities for us. Failure to meet industry standards and the expectations
of stakeholders could result in weaker demand as well as
loss of reputation and investor confidence. 22
https://www.wri.org/applications/aqueduct/country-rankings/?country=IDN&indicator=drr
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CONTENT INDEX
GLOBA L R E P O RT IN G IN IT IAT IV E ( G RI )
Statement of use Lippo Karawaci has reported in accordance with the GRI Standards for the period 1 Jan 2024 to 31 Dec 2024.
GRI 1 used GRI 1: Foundation 2021
Reason for omission Not Applicable, Legal Prohibitions, Confidentiality Constraints, Information Unavailable/Incomplete
Reasons for Page number(s)
GRI Standard Disclosure SGX Requirement
Omission and/or URL(s)
General Disclosures
GRI 2: General Disclosures 2021 2-1 Organizational details 7
2-2 Entities included in the organization’s sustainability reporting 4
2-3 Reporting period, frequency and contact point 4,6
2-4 Restatements of information 6
2-5 External assurance 6
2-6 Activities, value chain and other business relationships 7-10
2-7 Employees 73-75
2-8 Workers who are not employees 73
2-9 Governance structure and composition 86-87 PN7.6-3.1
2-10 Nomination and selection of the highest governance body 87
2-11 Chair of the highest governance body 20
2-12 Role of the highest governance body in overseeing the management of impacts 87
2-13 Delegation of responsibility for managing impacts 20
2-14 Role of the highest governance body in sustainability reporting 20
2-15 Conflicts of interest 90
2-16 Communication of critical concerns 87
2-17 Collective knowledge of the highest governance body Refer to AR
2-18 Evaluation of the performance of the highest governance body Refer to AR
2-19 Remuneration policies Refer to AR
2-20 Process to determine remuneration Refer to AR
2-21 Annual total compensation ratio Confidentiality Confidentiality
constraints constraints
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2-22 Statement on sustainable development strategy 7,19,20,21,29-39
2-23 Policy commitments 90-91
2-24 Embedding policy commitments 24-27,90-91
2-25 Processes to remediate negative impacts 12,31,35-37
2-26 Mechanisms for seeking advice and raising concerns 6,90-91
2-27 Compliance with laws and regulations 90-91
2-28 Membership associations 11
2-29 Approach to stakeholder engagement 22
2-30 Collective bargaining agreements 77
Material Topics
GRI 3: Material Topics 2021 3-1 Process to determine material topics 21
3-2 List of material topics 21 PN7.6-4.4.1. a
Enhancing Quality of Life
Economic Performance
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.1.c;
PN7.6-4.1.d;
LR711B-1.b;
LR711B-1.c
GRI 201: Economic Performance 201-1 Direct economic value generated and distributed 40
2016 201-2 Financial implications and other risks and opportunities due to climate change 30,32-33
201-3 Defined benefit plan obligations and other retirement plans 74
201-4 Financial assistance received from government Not Applicable
Caring for our environment
Energy
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 302: Energy 2016 302-1 Energy consumption within the organization 59,98,99
302-2 Energy consumption outside of the organization 59,98,99
302-3 Energy intensity 59,98,99
303-4 Reduction of energy consumption 57-58
303-5 Reductions in energy requirements of products and services 57-58
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Emissions
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 60-61,98
305-2 Energy indirect (Scope 2) GHG emissions 60-61,98
305-3 Other indirect (Scope 3) GHG emissions 60-61,98
305-4 GHG emissions intensity 61,98-99
305-5 Reduction of GHG emissions 57-58
305-6 Emissions of ozone-depleting substances (ODS) 60
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions Not Applicable
Water and Effluents
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.1.c;
PN7.6-4.1.d;
LR711B-1.b;
LR711B-1.c
GRI 303: Water and Effluents 2018 303-1 Interactions with water as a shared resource 62
303-2 Management of water discharge-related impacts 64-67
303-3 Water withdrawal 65,99
303-4 Water discharge 67,100
303-5 Water consumption 62-63,99
Waste
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 306: Waste 2020 306-1 Waste generation and significant waste-related impacts 21
306-2 Management of significant waste-related impacts 69-71
306-3 Waste generated 68-69, 100
306-4 Waste diverted from disposal 68,100
306-5 Waste diverted to disposal 68,100
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Investing In Our People
Employment & Rights
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 401: Employment 2016 401-1 New employee hires and employee turnover 102
401-2 Benefits provided to full-time employees that are not provided to temporary or part- 74-75
time employees
401-3 Parental leave 103
GRI 405: Diversity and Equal 405-1 Diversity of governance bodies and employees 76
Opportunity 2016 405-2 Ratio of basic salary and remuneration of women to men Confidentiality Confidentiality
constraints constraints
GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination and corrective actions taken 77
GRI 407: Freedom of Association 407-1 Operations and suppliers in which workers’ rights to exercise freedom of association or 77
and Collective Bargaining 2016 collective bargaining may be violated
GRI 208: Child Labor 2016 408-1 Operations and suppliers at significant risk for incidents of child labor 77
GRI 409: Forced or compulsory 409-1 Operations and suppliers considered to have significant risk for incidents of forced or 77
labor 2016 compulsory labor
Occupational Health & Safety
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 403: Occupational Health and 403-1 Occupational health and safety management system 79
Safety 2018 403-2 Hazard identification, risk assessment, and incident investigation 79
403-3 Occupational health services 79
403-4 Worker participation, consultation, and communication on occupational health and 79-80
safety
403-5 Worker training on occupational health and safety 79-80
403-6 Promotion of worker health 79-80
403-7 Prevention and mitigation of occupational health and safety impacts directly linked by 79-80
business relationships
403-8 Workers covered by an occupational health and safety management system 79-80
403-9 Work-related injuries 81
403-10 Work-related ill health 104
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Omission and/or URL(s)
Training & Education
GRI 3: Material Topics 2021 3-3 Management of material topics 21
GRI 404: Training and Education 404-1 Average hours of training per year per employee 83,104
2016 404-2 Programs for upgrading employee skills and transition assistance programs 82-84
404-3 Percentage of employees receiving regular performance and career development 82
reviews
Championing Best Practices
Anti-Corruption
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 205: Anti-corruption 2016 205-1: Operations assessed for risks related to corruption 91
205-2: Communication and training about anti-corruption policies and procedures 91
205-3: Confirmed incidents of corruption and actions taken 91
Anti-Competitive Behaviour
GRI 3: Material Topics 2021 3-3 Management of material topics 21 PN7.6-4.4.1. c.
PN7.6-4.4.1. d.
PN7.6-4.4.
LR711B-1 b & c
GRI 206: Anti-competitive 206-1: Confirmed incidents of anti-competitive behavior and actions taken 91
Behaviour 2016
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U N I T E D NA TI O N S G L O B AL C O M P AC T (UNG C)
Principles Page Reference / Remarks
Human Rights
Principle 1 Businesses should support and respect the protection of internationally proclaimed human rights 77, 90-92
Principle 2 Make sure that they are not complicit in human rights abuses 77, 90-92
Labor
Principle 3 Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining 77
Principle 4 Elimination of all forms of forced and compulsory labor 77, 90-92
Principle 5 Effective abolition of child labor 77, 90-92
Principle 6 Elimination of discrimination in respect of employment and occupation 76-77, 90
Environment
Principle 7 Businesses should support a precautionary approach to environmental challenges 34-36
Principle 8 Undertake initiatives to promote greater environmental responsibility 36-37
Principle 9 Encourage the development and diffusion of environmentally friendly technologies 36-37, 57
Anti-Corruption
Principle 10 Businesses should work against corruption in all its forms, including extortion and bribery 90-93
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SUSTA I NA BI L IT Y AC C O U N T IN G S T A N DA RDS B O A RD (SA SB ) – RE A L E STA TE SE CTO R DIS CL OS UR E
SASB Sustainability Page Reference
SASB Code Accounting Metric Property Subsector
Disclosure / Remarks
Energy Management IF-RE-130a.1 Met Energy consumption data coverage as a percentage of floor area, by property subsector (%) Real Estate 100%
Healthcare 100%
Lifestyle 100%
IF-RE-130a.2 Total energy consumed by portfolio area with data coverage, by property subsector (GJ) Real Estate 149,000
Healthcare 463,000
Lifestyle 754,000
Total energy consumed by percentage grid electricity, by property subsector (%) Real Estate 95%
Healthcare 95%
Lifestyle 97%
Total energy consumed by percentage renewable, by property subsector (%) Real Estate 0.50%
Healthcare 0.20%
Lifestyle 0.40%
IF-RE-130a.3 Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property Real Estate 2%
subsector (%) Healthcare 7%
Lifestyle -5%
IF-RE-130a.4 Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property N/A in Indonesia
subsector (%)
Percentage of eligible portfolio that is certified to ENERGY STAR®, by property subsector (%) N/A in Indonesia
IF-RE-130a.5 Description of how building energy management considerations are integrated into property investment “Energy Initiatives” – Page 57
analysis and operational strategy
Water Management IF-RE-140a.1 Water withdrawal data coverage as a percentage of total floor area, by property subsector (%) Real Estate 100%
Healthcare 100%
Lifestyle 100%
Water withdrawal data coverage as a percentage of total floor area, in regions with High or Extremely High Real Estate 100%
Baseline Water Stress23, by property subsector (%) Healthcare 100%
Lifestyle 100%
Total water withdrawn by portfolio area with data coverage, by property subsector (m3) Real Estate 1,263,000
Healthcare 1,381,000
Lifestyle 2,017,000
IF-RE-140a.2 Total water withdrawn by percentage in regions with High or Extremely High Baseline Water Stress23, by Real Estate 100%
property subsector (%) Healthcare 100%
Lifestyle 100%
IF-RE-140a.3 Like-for-like percentage change in water withdrawn for portfolio area with data coverage, by property Real Estate 10%
subsector (%) Healthcare 2%
Lifestyle -3%
IF-RE-140a.4 Description of water management risks and discussion of strategies and practices to mitigate those risks “Optimizing Water Usage” – Page 63
23
We operate in regions within Indonesia which are generally assessed to experience “high” to “extremely high” water stress according to the World Resources Institute’s Aqueduct Water Risk Atlas.
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SASB Sustainability Page Reference
SASB Code Accounting Metric Property Subsector
Disclosure / Remarks
Management of IF-RE-410a.1 Percentage of new leases that contain a cost recovery clause for resource efficiency related capital Real Estate 0%
Tenant Sustainability improvement, by property subsector (%) Healthcare NA
Impacts Lifestyle 0%
Associated leased floor area, of new leases that contain a cost recovery clause for resource efficiency related Real Estate 0%
capital improvements, by property subsector (sq. ft) Healthcare NA
Lifestyle 0%
IF-RE-410a.2 Percentage of tenants that are separately metered or sub-metered for grid electricity consumption by property Real Estate 100%
subsector (%) Healthcare 100%
Lifestyle 100%
Percentage of tenants that are separately metered or sub-metered for water withdrawals, by property Real Estate 100%
subsector (%) Healthcare 100%
Lifestyle 100%
IF-RE-410a.3 Discussion of approach to measuring, incentivizing, and improving sustainability impacts of tenants “Scope 3” and “Energy Initiatives” – Page 58
Climate Change and IF-RE-450a.1 Area of properties located in 100-year flood zones, by property subsector “Strategy” – Page 29
Adaptation IF-RE-450a.2 Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies “Climate Resilience” – Page 28
for mitigating risks
SA S B - R E A L E S T A T E S E C T O R D IS C L O SURE (A CTI V I TY ME TRI CS)
SASB Code Activity Metric Property Subsector 2024
IF-RE-000.A Number of assets, by property subsector Real Estate24 27
Healthcare 40
Lifestyle 43
IF-RE-000.B Leasable floor area, by property subsector (sq. ft) Real Estate25 7,900,000 sq. ft
Healthcare N/A
Lifestyle26 10,800,000 sq. ft
IF-RE-000.C Percentage of indirectly managed assets, by property subsector (%) Real Estate N/A
Healthcare N/A
Lifestyle N/A
IF-RE-000.D Average occupancy rate, by property subsector (%) Real Estate Undisclosed
Healthcare Undisclosed
Lifestyle Undisclosed
24
The Real Estate segment comprises high-rise residential buildings, townships, water treatment plants, and corporate offices. Unlike in the Healthcare and Lifestyle segments where each managed “asset” is a distinct property, our Real Estate segment manages
multiple assets and public/residential/commercial areas within each township. As such, for ease of reporting, we have consolidated multiple assets/areas within each township and classified them as a single “asset”.
25
Based on residential area within the high-rise residential buildings under our scope of reporting.
26
Based on net leasable area within the malls under our scope of reporting.
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WOR LD ECON O M IC F O RU M ( W E F ) S T A K E HO LDE R CA P I TA LI SM ME TRI CS
Theme Core Metrics and Disclosures Page Reference / Remarks
Principal of Governance
Governing purpose Setting purpose 7
Quality of governing body Governance body composition 20
Stakeholder engagement Material issues impacting stakeholders 21
Ethical behaviour Anti-corruption 91
Protected ethics advice and reporting mechanisms 90-91
Risk and opportunity oversight Integrating risk and opportunity into business process 90-91
Prosperity
Employment and wealth Absolute number and rate of employment 73-76
generation Economic contribution 40
Financial investment contribution 40
Innovation of better products Total R&D expenses 40
and services
Community and social vitality Total tax paid 40
People
Dignity and equality Diversity and inclusion 76
Pay equality 76
Wage level 76
Risk for incidents of child, forced or compulsory labor 77
Health and well-being Health and safety 79-81
Skills for the future Training provided 82-84
Planet
Climate change Greenhouse gas emissions 59
TCFD implementation 28-38
Nature loss Land use and ecological sensitivity 69
Freshwater availability Water consumption and withdrawal in water-stressed areas 62
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F IN A NC I A L SE R V IC E S A U T H O R IT Y O F I NDO NE SI A (O JK ) RE Q UI RE ME NTS – P O JK NO .51/POJK.03 /2017 [G.4]
Index Description Page
Sustainability Strategy
A.1 Elaboration of Sustainability Strategy 12- 13
Overview of Sustainability Aspects Performance
B.1 Economic Aspects, covering at least: 15-16
a. Quantity of products or services sold; 15-16
b. Revenue or sales; 15-16
c. Net profit or loss; 15-16
d. Environmentally friendly products; and 15-16
e. Engagement of local stakeholders on sustainable finance business process. 15-16
B.2 Environmental Aspects, covering at least: 15-16
a. Energy consumption; 15-16
b. Reduction of Emission produced; 15-16
c. Reduction of waste and effluent; and 15-16
d. Biodiversity conservation. 15-16
B.3 Social Aspects 15-16
Company Profile
C.1 Vision, Mission, and Sustainability Values 7
C.2 Company Address 6
C.3 Business Scale, covering at least: 11, 40, 73
a. Total assets or assets capitalization, and total liabilities 11, 40, 73
b. Number of employees by gender, position, age, education and employment status 11, 40, 73
c. Shareholders name and percentage of stock ownership; and 11, 40, 73
d. Operational areas 11, 40, 73
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Index Description Page
C.4 Products, Services, and Business Activities 10
C.5 Membership of Associations 11
C.6 Significant Changes in Issuers and Public Companies 7
Elaboration Of Board Of Directors
D.1 Elaboration of Board of Directors 12-13
a. Policy to respond to challenges in fulfilling sustainability strategies 12-13
b. Implementation of sustainable finance 12-13
c.Target achievement strategies 12-13
Sustainability Governance
E.1 Person in Charge of Sustainable Finance Implementation 86-89
E.2 Competency Development on Sustainable Finance 86-89
E.3 Risk Assessment on the Implementation of Sustainable Finance 86-89
E.4 Relationship with Stakeholders 86-89
E.5 Issues Regarding the Implementation of Sustainable Finance 86-89
Sustainable Performance
F.1 Activities to Building a Culture of Sustainability 44
Economic Performance
F.2 Comparison of Production Targets and Performance, Portfolio, Financing or Investment Targets, Revenue and Profit/Loss 40
F.3 Comparison of Portfolio Targets and Performance, Financing or Investment Targets on Financial Instruments or Projects that Align with Sustainable Finance 40
Environmental Performance
General Aspect
F.4 Environmental Costs 68
Material Aspect
F.5 Consumption of Environmentally Friendly Materials 68
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Energy Aspect
F.6 The Quantity and Intensity of Energy Consumed 57, 59
F.7 Efforts and Achievements in Energy Efficiency and the Use of Renewable Energy 57, 59
Water Aspect
F.8 Water Consumption 62-66
Biodiversity Aspect
F.9 Impacts from Operational Areas Close to or in Conservation Areas or Having Biodiversity The indicator is
not relevant to the
organization
F.10 Biodiversity Conservation Efforts The indicator is
not relevant to the
organization
Emission Aspect
F.11 The Amount and Intensity of Emissions Produced by Type 57, 60-61
F.12 Efforts and Achievements in Reducing Emission 57,60-61
Waste and Effluent Aspect
F.13 The Amount of Waste and Effluent Produced by Type 68
F.14 Mechanism of Waste and Effluent Management 68
F.15 Spills that Occur (if any) 68
Environmental Complaint Aspect
F.16 The Amount and Material of Environmental Complaints Received and Resolved 68
Social Performance
F.17 Commitment to Provide Equal Products and/or Services to Consumers 51
Employment Aspect
F.18 Equal Employment Opportunity 73
F.19 Child Labor and Forced Labor 77
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F.20 Regional Minimum Wage 73
F.21 Safe and Healthy Working Environment 79
F.22 Employee Training and Development 82
Community Aspect
F.23 Operational Impacts on Local Communities 44-47
F.24 Community Complaints 44-47
F.25 Corporate Social Responsibility (CSR) 44-47
Responsibility For Sustainable Products/ Services
F.26 Innovation and Development of Sustainable Financial Products/Services 48
F.27 Products/Services that have been Evaluated for Safety for Customers 55
F.28 Products/Service Impacts 55
F.29 Number of Products Recalled 55
F.30 Customer Satisfaction Survey of Sustainable Finance and/or Services 55
Others
G.1 Written Verification by an Independent Party (if any) 6
G.2 Feedback Form 6
G.3 Response to Feedback on the Previous Year’s Sustainability Report 6
G.4 List of Disclosures in Accordance with the Financial Services Authority Regulation Number 51/POJK.03/2017 concerning The Implementation of Sustainable 116
Finance for Financial Services Institutions, Issuers And Public Company
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IFR S S1 G EN E R A L RE Q U IRE M E N T S F O R DI SCLO SURE O F SUSTA I NA B I LI TY- RE LA TE D F IN AN CIAL IN F OR MATION
Page number(s) and/or
IFRS S1 Standard Disclosure Reasons for Omission
URL(s)
Governance
IFRS S1-27(a) The governance body(s) (which can include a board, committee or equivalent body charged with
governance) or individual(s) responsible for oversight of sustainability related risks and opportunities,
including information about:
(i) how responsibilities for sustainability-related risks and opportunities are reflected in the terms of
reference, mandates, role descriptions and other related policies applicable to that body(s) or individual(s);
(ii) How the body(s) or individual(s) determines whether appropriate skills and competencies are available or
will be developed to oversee strategies designed to respond to sustainability-related risks and opportunities
(iii) How and how often the body(s) or individual(s) is informed about sustainability related risks and 28
opportunities.
(iv) How the body(s) or individual(s) takes into account sustainability-related risks and opportunities when
overseeing the entity’s strategy, its decisions on major transactions and its risk management processes and
related policies, including whether the body(s) or individual(s) has considered trade-offs associated with
those risks and opportunities.
v) How the body(s) or individual(s) oversees the setting of targets related to sustainability-related risks
and opportunities, and monitors progress towards those targets, including whether and how related
performance metrics are included in remuneration policies.
IFRS S1-27(b) Management’s role in the governance processes, controls and procedures used to monitor, manage and
oversee sustainability-related risks and opportunities, including information about:
(i) Whether the role is delegated to a specific management-level position or management-level committee
and how oversight is exercised over that position or committee. 28
(ii) Whether management uses controls and procedures to support the oversight of sustainability-related
risks and opportunities and, if so, how these controls and procedures are integrated with other internal
functions.
Strategy
Sustainability-related risks and opportunities
IFRS S1-30(a) Sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s
32-33
prospects.
IFRS S1-30(b) The time horizons—short, medium or long term—over which the effects of each of those sustainability- Pending ESG scenario analysis
related risks and opportunities could reasonably be expected to occur
IFRS S1-30(c) How the entity defines “short term”, “medium term” and “long term” and how these definitions are linked to Pending ESG scenario analysis
the planning horizons used by the entity for strategic decision-making.
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Page number(s) and/or
IFRS S1 Standard Disclosure Reasons for Omission
URL(s)
Business Model and Value Chain
IFRS S1-32(a) A description of the current and anticipated effects of sustainability-related risks and opportunities on the
entity’s business model and value chain.
32-33
IFRS S1-32(b) A description of where in the entity’s business model and value chain sustainability related risks and
opportunities are concentrated.
Strategy and Decision-making
IFRS S1-33(a) How the entity has responded to, and plans to respond to, sustainability-related risks and opportunities in its
33
strategy and decision-making.
IFRS S1-33(b) The progress against plans the entity has disclosed in previous reporting periods, including quantitative and
29
qualitative information
IFRS S1-33(c) Trade-offs between sustainability-related risks and opportunities that the entity considered. 33
Financial Position, Financial Performance and Cash Flows
IFRS S1-34(a) The effects of sustainability-related risks and opportunities on the entity’s financial position, financial
performance and cash flows for the reporting period (current financial effects).
IFRS S1-34(b) The anticipated effects of sustainability-related risks and opportunities on the entity’s financial position,
financial performance and cash flows over the short, medium and long term, taking into consideration how
sustainability-related risks and opportunities are included in the entity’s financial planning (anticipated
financial effects).
IFRS S1-35(a) Quantitative and qualitative information about how sustainability-related risks and opportunities have
32-33
affected its financial position, financial performance and cash flows for the reporting period.
IFRS S1-35(b) Quantitative and qualitative information about the sustainability-related risks and opportunities identified
for which there is a significant risk of a material adjustment within the next annual reporting period to the
carrying amounts of assets and liabilities reported in the related financial statements.
IFRS S1-35(c) Quantitative and qualitative information about how the entity expects its financial position to change over
the short, medium and long term, given its strategy to manage sustainability related risks and opportunities,
taking into consideration:
(i) Its investment and disposal plans, including plans the entity is not contractually committed to. Confidential
(ii) Its planned sources of funding to implement its strategy. Confidential
IFRS S1-35(d) Quantitative and qualitative information about how the entity expects its financial performance and cash Confidential
flows to change over the short, medium and long term, given its strategy to manage sustainability-related
risks and opportunities.
Resilience
IFRS S1-41 A qualitative and, if applicable, quantitative assessment of the resilience of its strategy and business model Pending ESG scenario
in relation to its sustainability-related risks, including information about how the assessment was carried out analysis
and its time horizon.
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IFRS S1 Standard Disclosure Reasons for Omission
URL(s)
Risk Management
IFRS S1-44(a) The processes and related policies the entity uses to identify, assess, prioritise and monitor sustainability-
related risks, including information about:
34
(i) The inputs and parameters the entity uses (for example, information about data sources and the scope of
operations covered in the processes).
(ii) Whether and how the entity uses scenario analysis to inform its identification of sustainability-related Pending ESG scenario analysis
risks.
(iii) How the entity assesses the nature, likelihood and magnitude of the effects of those risks (for example,
whether the entity considers qualitative factors, quantitative thresholds or other criteria).
(iv) Whether and how the entity prioritises sustainability-related risks relative to other types of risk.
(v) How the entity monitors sustainability-related risks.
(vi) Whether and how the entity has changed the processes it uses compared with the previous reporting
35-37
period.
IFRS S1-44(b) The processes the entity uses to identify, assess, prioritise and monitor sustainability-related opportunities.
IFRS S1-44(c) The extent to which, and how, the processes for identifying, assessing, prioritising and monitoring
sustainability-related risks and opportunities are integrated into and inform the entity’s overall risk
management process.
Metrics and Targets
IFRS S1-46(a) Metrics required by an applicable IFRS Sustainability Disclosure Standard for each sustainability-related risk
and opportunity that could reasonably be expected to affect the entity’s prospects.
IFRS S1-46(b) Metrics the entity uses to measure and monitor that sustainability-related risk or opportunity and its
performance in relation to that sustainability-related risk or opportunity, including progress towards any
targets the entity has set, and any targets it is required to meet by law or regulation.
IFRS S1-51(a) The metric used to set the target and to monitor progress towards reaching the target.
IFRS S1-51(b) The specific quantitative or qualitative target the entity has set or is required to meet. 17, 38
IFRS S1-51(c) The period over which the target applies
IFRS S1-51(d) The base period from which progress is measured.
IFRS S1-51(e) Any milestones and interim targets.
IFRS S1-51(f) Performance against each target and an analysis of trends or changes in the entity’s performance.
IFRS S1-51(g) Any revisions to the target and an explanation for those revisions.
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IFR S S2 C LI M A T E -R E L A T E D D IS C L O S U RE S
Page number(s) and/or
IFRS S2 Standard Disclosure Reasons for Omission
URL(s)
Governance
IFRS S2-6(a) The governance body(s) (which can include a board, committee or equivalent body charged with governance)
or individual(s) responsible for oversight of climate-related risks and opportunities. Specifically, the entity shall 28
identify that body(s) or individual(s) and disclose information about:
(i) How responsibilities for climate-related risks and opportunities are reflected in the terms of reference,
28,36-37
mandates, role descriptions and other related policies applicable to that body(s) or individual(s).
(ii) How the body(s) or individual(s) determines whether appropriate skills and competencies are available or
28
will be developed to oversee strategies designed to respond to climate-related risks and opportunities.
(iii) How and how often the body(s) or individual(s) is informed about climate-related risks and opportunities. 28
(iv) How the body(s) or individual(s) takes into account climate-related risks and opportunities when overseeing
the entity’s strategy, its decisions on major transactions and its risk management processes and related
policies, including whether the body(s) or individual(s) has considered trade-offs associated with those risks 29-31
and opportunities
(v) How the body(s) or individual(s) oversees the setting of targets related to climate-related risks and
opportunities, and monitors progress towards those targets, including whether and how related performance 29
metrics are included in remuneration policies.
IFRS S1-6(b) Management’s role in the governance processes, controls and procedures used to monitor, manage and
28-29
oversee climate-related risks and opportunities, including information about:
(i) Whether the role is delegated to a specific management-level position or management-level committee and
28
how oversight is exercised over that position or committee
(ii) Whether management uses controls and procedures to support the oversight of climate-related risks and
34-35
opportunities and, if so, how these controls and procedures are integrated with other internal functions.
Strategy
IFRS S2-9(a) Climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 30-31
IFRS S2-9(b) The current and anticipated effects of those climate-related risks and opportunities on the entity’s business
30-31
model and value chain.
IFRS S2-9(c) The effects of those climate-related risks and opportunities on the entity’s strategy and decision-making,
36-37
including information about its climate-related transition plan.
IFRS S2-9(d) The effects of those climate-related risks and opportunities on the entity’s financial position, financial
performance and cash flows for the reporting period, and their anticipated effects on the entity’s financial
34-35
position, financial performance and cash flows over the short, medium and long term, taking into consideration
how those climate-related risks and opportunities have been factored into the entity’s financial planning
IFRS S2-9(e) The climate resilience of the entity’s strategy and its business model to climate-related changes, developments
35
and uncertainties, taking into consideration the entity’s identified climate-related risks and opportunities.
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Page number(s) and/or
IFRS S2 Standard Disclosure Reasons for Omission
URL(s)
Climate-related Risks and Opportunities
IFRS S2-10(a) Climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 30-31
IFRS S2-10(b) For each climate-related risk the entity has identified, whether the entity considers the risk to be a climate-
30-31
related physical risk or climate-related transition risk.
IFRS S2-10(c) For each climate-related risk and opportunity the entity has identified, over which time horizons—short,
medium or long term—the effects of each climate-related risk and opportunity could reasonably be expected 34-35
to occur.
IFRS S2-10(d) How the entity defines ‘short term’, ‘medium term’ and ‘long term’ and how these definitions are linked to the
34
planning horizons used by the entity for strategic decision-making.
Business Model and Value Chain
IFRS S2-13(a) A description of the current and anticipated effects of climate-related risks and opportunities on the entity’s
30-31
business model and value chain.
IFRS S2-13(b) A description of where in the entity’s business model and value chain climate-related risks and opportunities
30-31
are concentrated.
Strategy and Decision-making
IFRS S2-14(a) How the entity has responded to, and plans to respond to, climate-related risks and opportunities in its strategy
and decision-making, including how the entity plans to achieve any climate-related targets it has set and any 36-37
targets it is required to meet by law or regulation, including the information about:
(i) current and anticipated changes to the entity’s business model, including its resource allocation, to address
36-37
climate-related risks and opportunities.
(ii) current and anticipated direct mitigation and adaptation efforts. 36-37
(iii) current and anticipated indirect mitigation and adaptation efforts. 36-37
(iv) any climate-related transition plan the entity has, including information about key assumptions used in
35-37
developing its transition plan, and dependencies on which the entity’s transition plan relies.
(v) How the entity plans to achieve any climate-related targets, including any greenhouse gas emissions
36-37
targets, described.
IFRS S2-14(b) Information about how the entity is resourcing, and plans to resource, the activities disclosed in accordance
34-35
with 14(a).
IFRS S2-14(c) Quantitative and qualitative information about the progress of plans disclosed in previous reporting periods in
36-37
accordance with 14(a).
Financial Position, Financial Performance and Cash Flows
IFRS S2-15(a) The effects of climate-related risks and opportunities on the entity’s financial position, financial performance
30-31
and cash flows for the reporting period.
IFRS S2-15(b) The anticipated effects of climate-related risks and opportunities on the entity’s financial position, financial
performance and cash flows over the short, medium and long term, taking into consideration how climate- 36-37
related risks and opportunities are included in the entity’s financial planning.
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URL(s)
IFRS S2-16(a) How climate-related risks and opportunities have affected its financial position, financial performance and cash
30-31
flows for the reporting period.
IFRS S2-16(b) The climate-related risks and opportunities identified in for which there is a significant risk of a material
adjustment within the next annual reporting period to the carrying amounts of assets and liabilities reported in Not Applicable
the related financial statements.
IFRS S2-16(c) How the entity expects its financial position to change over the short, medium and long term, given its strategy
to manage climate-related risks and opportunities, taking into consideration:
(i) Its investment and disposal plans, including plans the entity is not contractually committed to.
36-37
(ii) Its planned sources of funding to implement its strategy.
IFRS S2-16(d) How the entity expects its financial performance and cash flows to change over the short, medium and long
term, given its strategy to manage climate-related risks and opportunities.
Climate Resilience
IFRS S2-22 (a) The entity’s assessment of its climate resilience as at the reporting date, including: 28
(i) The implications, if any, of the entity’s assessment for its strategy and business model, including how the
28
entity would need to respond to the effects identified in the climate-related scenario analysis.
(ii) The significant areas of uncertainty considered in the entity’s assessment of its climate resilience. 105-106
(iii) The entity’s capacity to adjust or adapt its strategy and business model to climate change over the short,
35
medium and long term, including:
(1) The availability of, and flexibility in, the entity’s existing financial resources to respond to the effects identified
in the climate-related scenario analysis, including to address climate-related risks and to take advantage of Not Applicable -
climate-related opportunities.
(2) the entity’s ability to redeploy, repurpose, upgrade or decommission existing assets. Not Applicable -
(3) the effect of the entity’s current and planned investments in climate-related mitigation, adaptation and
Not Applicable -
opportunities for climate resilience.
IFRS S2-22 (b) How and when the climate-related scenario analysis was carried out, including the information about: 105
(i) The inputs the entity used, including: 105
(1) Which climate-related scenarios the entity used for the analysis and the sources of those scenarios. 105-106
(2) Whether the analysis included a diverse range of climate-related scenarios. 105-106
(3) Whether the climate-related scenarios used for the analysis are associated with climate-related transition
105-106
risks or climate-related physical risks.
(4) Whether the entity used, among its scenarios, a climate-related scenario aligned with the latest
105-106
international agreement on climate change.
(5) Why the entity decided that its chosen climate-related scenarios are relevant to assessing its resilience to
105-106
climate-related changes, developments or uncertainties.
(6) The time horizons the entity used in the analysis. 105-106
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(7) What scope of operations the entity used in the analysis. 105-106
(ii) The key assumptions the entity made in the analysis, including assumptions about: 29
(1) Climate-related policies in the jurisdictions in which the entity operates. 29
(2) Macroeconomic trends. 29
(3) National- or regional-level variables 29
(4) Energy usage and mix. 29
(5) Developments in technology. 29
(iii) The reporting period in which the climate-related scenario analysis was carried out. 105
Risk Management
IFRS S2-25(a) The processes and related policies the entity uses to identify, assess, prioritize and monitor climate-related
risks, including information about:
(i) The inputs and parameters the entity uses. 29
(ii) Whether and how the entity uses scenario analysis to inform its identification of climate-related risks. 29
(iii) How the entity assesses the nature, likelihood and magnitude of the effects of those risks. 29
(iv) Whether and how the entity prioritises climate-related risks relative to other types of risk. 29
(v) How the entity monitors climate-related risks. 29
(vi) Whether and how the entity has changed the processes it uses compared with the previous reporting
29
period.
IFRS S2-25(b) The processes the entity uses to identify, assess, prioritise and monitor climate related opportunities,
including information about whether and how the entity uses climate-related scenario analysis to inform its 29
identification of climate-related opportunities.
IFRS S2-25(c) The extent to which, and how, the processes for identifying, assessing, prioritising and monitoring climate-
29
related risks and opportunities are integrated into and inform the entity’s overall risk management process.
Metrics and Targets
IFRS S2-29(a) Information relevant to the cross-industry metric categories of greenhouse gases, including: 98
(i) disclose its absolute gross greenhouse gas emissions generated during the reporting period, expressed as
98
metric tonnes of CO2 equivalent, classified as:
(1) Scope 1 greenhouse gas emissions. 98
(2) Scope 2 greenhouse gas emissions. 98
(3) Scope 3 greenhouse gas emissions. 98
(ii) Measure its greenhouse gas emissions in accordance with the Greenhouse Gas Protocol: A Corporate
Accounting and Reporting Standard (2004) unless required by a jurisdictional authority or an exchange on 96
which the entity is listed to use a different method for measuring its greenhouse gas emissions.
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URL(s)
(iii) The approach used to measure its greenhouse gas emissions, including: 96
(1) The measurement approach, inputs and assumptions the entity uses to measure its greenhouse gas
96
emissions.
(2) The reason why the entity has chosen the measurement approach, inputs and assumptions it uses to
96
measure its greenhouse gas emissions.
(3) Any changes the entity made to the measurement approach, inputs and assumptions during the reporting
96
period and the reasons for those changes.
(iv) For Scope 1 and Scope 2 greenhouse gas emissions disclosed in accordance with paragraph 29(a)(i)(1)–(2),
59
disaggregate emissions between:
(1) The consolidated accounting group. 59
(2) Other investees excluded from paragraph 29(a)(iv)(1). 59
(v) Location-based Scope 2 greenhouse gas emissions, and information about any contractual instruments that
98
is necessary to inform users’ understanding of the entity’s Scope 2 greenhouse gas emissions.
(vi) for Scope 3 greenhouse gas emissions, disclose: 98
(1) the categories included within the entity’s measure of Scope 3 greenhouse gas emissions, in accordance
with the Scope 3 categories described in the Greenhouse Gas Protocol Corporate Value Chain (Scope 3) 98
Accounting and Reporting Standard (2011).
(2) additional information about the entity’s Category 15 greenhouse gas emissions or those associated with its
investments (financed emissions), if the entity’s activities include asset management, commercial banking or Not Applicable
insurance.
Climate-related transition risks—the amount and percentage of assets or business activities vulnerable to
climate-related transition risks.
IFRS S2-29(b) Climate-related transition risks—the amount and percentage of assets or business activities vulnerable to
climate-related transition risks.
35
IFRS S2-29(c) Climate-related physical risks—the amount and percentage of assets or business activities vulnerable to
climate-related physical risks.
IFRS S2-29(d) Climate-related opportunities—the amount and percentage of assets or business activities aligned with
climate-related opportunities.
IFRS S2-29(e) Capital deployment—the amount of capital expenditure, financing or investment deployed towards climate-
Confidential
related risks and opportunities.
IFRS S2-29(f) Internal carbon prices—the entity shall disclose: Not Applicable
(i) an explanation of whether and how the entity is applying a carbon price in decision-making. Not Applicable
(ii) the price for each metric tonne of greenhouse gas emissions the entity uses to assess the costs of its
Not Applicable
greenhouse gas emissions.
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URL(s)
IFRS S2-29(g) Remuneration, including the information about:
(i) a description of whether and how climate-related considerations are factored into executive remuneration. Confidential
(ii) the percentage of executive management remuneration recognised in the current period that is linked to
Confidential
climate-related considerations.
IFRS S2-33(a) The metric used to set the quantitative and qualitative climate-related targets 57-63
IFRS S2-33(b) The objective of the target 57
IFRS S2-33(c) The part of the entity to which the target applies. 57
IFRS S2-33(d) The period over which the target applies. 57
IFRS S2-33(e) The base period from which progress is measured. 57-63
IFRS S2-33(f) Any milestones and interim targets. 57-63
IFRS S2-33(g) If the target is quantitative, whether it is an absolute target or an intensity target. 57-63
IFRS S2-33(h) How the latest international agreement on climate change, including jurisdictional commitments that arise
57
from that agreement, has informed the target.
IFRS S2-34(a) Whether the target and the methodology for setting the target has been validated by a third party. Not Applicable
IFRS S2-34(b) The entity’s processes for reviewing the target. 57
IFRS S2-34(c) The metrics used to monitor progress towards reaching the target. 57
IFRS S2-34(d) Any revisions to the target and an explanation for those revisions. 63
IFRS S2-35 An entity shall disclose information about its performance against each climate related target and an analysis
57-71
of trends or changes in the entity’s performance.
IFRS S2-36(a) Which greenhouse gases are covered by the target. 60
IFRS S2-36(b) Whether Scope 1, Scope 2 or Scope 3 greenhouse gas emissions are covered by the target. 60
IFRS S2-36(c) Whether the target is a gross greenhouse gas emissions target or net greenhouse gas emissions target. If the
entity discloses a net greenhouse gas emissions target, the entity has been also required to separately disclose 61
its associated gross greenhouse gas emissions target
IFRS S2-36(d) Whether the target was derived using a sectoral decarbonisation approach. Not Applicable
IFRS S2-36(e) The entity’s planned use of carbon credits to offset greenhouse gas emissions to achieve any net greenhouse
Not Applicable
gas emissions target. In explaining its planned use of carbon credits the entity shall disclose information:
(i) the extent to which, and how, achieving any net greenhouse gas emissions target relies on the use of carbon
Not Applicable
credits.
(ii) which third-party scheme(s) will verify or certify the carbon credits. Not Applicable
(iii) the type of carbon credit, including whether the underlying offset will be nature based or based on
technological carbon removals, and whether the underlying offset is achieved through carbon reduction or Not Applicable
removal.
(iv) any other factors necessary for users of general-purpose financial reports to understand the credibility and
Not Applicable
integrity of the carbon credits the entity plans to use.
128 PT LIPPO KARAWACI TBK | 2024 SUSTAINABILITY REPORT
Page 129
PT Lippo Karawaci Tbk
Menara Matahari, 22nd Floor
Jl. Boulevard Palem Raya No.7, Lippo Karawaci Central, Tangerang, Banten, Indonesia 15811
Tel: +62 21 2566 9000 | Fax: +62 21 2566 9098 | sustainability@lippokarawaci.co.id | www.lippokarawaci.co.id
Names mentioned 19 people and organisations named in the text · linked when the evidence is strong
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PT Lippo Malls Indonesia
p.4
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PT Aryaduta International Management
p.4
unresolved
org
Financial Services Authority
p.6
unresolved
org
Indonesia Stock Exchange
p.6 ×2
unresolved
org
Annual Report. Singapore Exchange Securities Trading Limited
p.6
unresolved
org
PT Siloam International
p.11
unresolved
org
Gowa Makassar Tourism Hospitak Tbk
p.11 ×2
unresolved
org
Development Tbk
p.11
unresolved
org
PT Siloam Liabilities
p.40
unresolved
org
International Hospitals Tbk
p.40
unresolved
org
Penyelenggara Jaminan Sosial
p.42
unresolved
org
Ministry of Manpower. Occupational Health and Safety Management System. In
p.55
unresolved
org
Ministry of Energy and Mineral Resources of Indonesia
p.60
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