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Driving Change, Powering Progress
SUSTAINABILITY REPORT 2023
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P T I N D I K A E N E R GY T B K .
Cover story
Driving Change, Powering Progress encapsulates the dynamic essence of collaborative efforts aimed at societal
advancement. It epitomizes our commitment to proactive engagement and continuous improvement. As
we navigate the complexities of sustainability, this mantra underscores our collective responsibility to effect
meaningful change, both within our operations and across our broader ecosystem. By harnessing innovative
solutions, fostering strategic partnerships, and embracing stakeholder collaboration, we drive initiatives that
not only reduce our environmental footprint but also empower communities, enhance social equity, and drive
economic prosperity. It signifies a shared vision of harnessing collective power to confront challenges, catalyze
innovation, and create a more equitable and sustainable future for all.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
PT Indika Energy Tbk.
Driving Change, Powering Progress
2 0 2 3 S U S TA I N A B I L I T Y R E P O RT
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Letter from
our President Director
I N 2 0 23 , W E R E A S S E S S E D O U R E N V I R O N M E N TA L , S O C I A L A N D G OV E R N A N C E ( E S G )
G OA L S TO M A K E T H E M E V E N M O R E A M B I T I O U S .
Scaling Up Our Ambitions
When we set out our medium- and long-term But we know we can do even better. In 2023,
goals at Indika Energy in 2021, we knew the we reassessed our environmental, social and
challenge we had set ourselves would not be easy. governance (ESG) goals to make them even
The headline figures we were working towards more ambitious. We have doubled down,
were ambitious for any company, and even more giving ourselves new parameters to track and
so for an energy company: growing our non-coal fulfill; refining ongoing targets to ensure more
businesses to half of our revenue by 2025 and meaningful outcomes; and ensuring that our
achieving net zero emissions by 2050. processes and goals carry more clout in the
boardroom and across the organization.
Adding to the scale of the challenge were
unforeseen external factors that swept entire If anything has changed with respect to our
industries, from the COVID-19 pandemic to the commitment over the past year, it is that we
global supply chain crunch to ongoing geopolitical have set the bar even higher — and are more
conflicts. And yet, since then, we are committed to determined than ever to clear it. We are not just
achieving this goal across nearly all parameters setting goals, we are delivering in meaningful and
that we are tracking. impactful ways.
M . A R S J A D R A S J I D P. M .
P R E S I D E N T D I R E C TO R
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
We are putting our decades of expertise in coal
Our Approach mining to good use in our new gold, bauxite and
Indika Energy’s ESG drive takes a three-pronged nickel ventures. Through Masmindo, we manage a
approach: Diversify, Divest, Decarbonize. We gold-mining concession in Luwu, South Sulawesi,
continue to diversify into low- and zero-carbon with extensive reserves. Working closely with
businesses to achieve our goal of 50% revenue local authorities and communities, we saw
from non-coal activities by 2025. To that end, we construction began in 2023 and expect to start
are also divesting from the more carbon-intensive production in 2025. Through Mekko Metal Mining,
segments of our business portfolio, with an we also manage a bauxite- mining concession
emphasis on a just and responsible transition. As in Landak, West Kalimantan, which has been in
of the end of 2023, we recorded 12.0% of revenue production since 2022. A third venture, Rockgeo,
from non-coal activities. We also continue to is our entry into nickel, a key mineral in the clean-
find ways to decarbonize our ongoing activities, energy transition, as well as other minerals.
innovating in various ways to work towards our
goal of net zero emissions by 2050. This helps position Indika Energy as a front-
runner in building Indonesia’s electric vehicle (EV)
In 2023, we reassessed our ESG baseline and ecosystem from the ground up. Through ALVA, we
targets, adjusting them to be in line with our launched the ALVA One electric motorbike in 2022,
diversification updates, and coming up with even and followed in 2023 with the ALVA Cervo and in
more ambitious ESG targets that will have a more 2024 with the ALVA One XP. ALVA also established
meaningful impact. a manufacturing facility in Cikarang, Indonesia’s
automotive hub, and opened ALVA Experience
In our reassessment, we sought to be both
Centers in Jakarta, Bali, Bandung, Surabaya and
ambitious and realistic with what we can achieve
Semarang. Crucially, all motorbike models meet
through key high-level actions and cost-effective
the government’s requirements for local content
levers. That has meant setting ourselves even
in their production, ensuring that ALVA not only
more focused goals, including reducing our scope
supports the transition to clean transportation,
1 and 2 emissions by 25% in 2025 and 33% in 2030,
but also contributes to the domestic economy.
as well as our scope 1 and 2 emission intensity per
revenue by 50% in 2025 and 55% in 2030, and per At the other end of the EV spectrum, through INVI
coal production by 10% in 2025 and 25% in 2030, we distribute electric commercial vehicles under
relative to our 2020 baseline. the KGM, Foxtron and Hyundai brands, supporting
facilities for electric charging stations under the
We have also refined our energy consumption
Daeyoung Chaevi brand, and air-conditioning
goals by adding renewable energy requirements;
systems for BOA brand electric buses. Meanwhile,
increased our targets for both water savings and
through Kalista we provide FaaS (fleet as a service)
waste recycling and reuse; expanded our zero-
solutions to simplify customers’ transition into
fatality goals to cover not just employees but
the EV ecosystem, offering electric two-wheelers
also contractors; significantly boosted our gender
and four-wheelers as well as charging unit rental
equity targets for the workforce in general and
schemes. From the charging infrastructure to
senior management in particular; and given
the vehicles themselves, INVI and Kalista are
greater weight to ESG-linked performance
committed to being a key player in the full-range
indicators for board members.
EV ecosystem.
Diversification On the renewable energy front, Empat Mitra
Indika Tenaga Surya (EMITS), Indika Energy’s
In 2023, we continued to seek out new
joint-venture solar subsidiary, has to date installed
opportunities and grow our presence in existing
60 MW of solar photovoltaic (PV) capacity in Java,
low- and zero- carbon segments. We see Indika
Bali, Sumatra, Kalimantan, Sulawesi and Maluku,
Energy as the leading diversified investment
targeted at commercial and industrial clients and
company in Indonesia, and our diversification
utilities. EMITS targets to install up to 500 MW of
approach is as much a push to that end as it is part
solar capacity by 2025. EMITS offers a full range
of our ESG drive.
of services, from financing, design, engineering,
Over the past year, we boosted our presence in the procurement, construction to operations and
sectors of minerals, electric vehicles, renewable maintenance.
energy, nature-based solutions, and digital
services.
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Another green sector where we are growing our the divestment process from Multi Tambangjaya
presence is nature-based solutions, through Utama (MUTU), a top miner of high-quality coal.
our subsidiary Indika Nature. Indika Nature
cultivates an industrial forest certified by the These were difficult decisions to make, but
Forest Stewardship Council (FSC), which provides were necessary for us to achieve our long-term
biomass for carbon-neutral energy generation. In sustainability goals.
2023, Indika Nature completed the construction
This move is undoubtedly a massive stride
of a wood pellet factory in Paser, East Kalimantan,
towards our twin goals of achieving 50% revenue
and is set to become the first biomass company
from non- coal activities by 2025 and net zero
in Indonesia with a comprehensive value chain.
emissions by 2050. It also reflects our unwavering
It is currently in preparation for its first batch of
commitment to our sustainability targets and
production, including planned exports to Japan.
sends the clear message that Indika Energy is
Also in 2023, Indika Nature acquired a stake in determined to lead by example. Going forward,
Natura Aromatik Nusantara, a producer and we will continue to explore more divestment
the fourth- largest exporter of essential oils, options.
based in Solo, Central Java. The acquisition
strengthens Indika Nature’s agroforestry portfolio Decarbonization
by expanding into aromatic chemicals, essential
Business diversification and divestment are ways
oils and natural extracts. Natura Aromatik
to make a clean break from carbon-intensive
Nusantara is poised to capitalize Indonesia’s rich
businesses. But when your goal is to energize a
and abundant natural ingredients, products that
nation, as Indika Energy’s overarching purpose
have a long history in Indonesia’s agricultural
has been, such a break is not always possible. And
sector. Indika Nature continues to grow its
so, these approaches have to be complemented by
business through its subsidiary Laras Ekosistem
a third approach: decarbonization.
Organik by partnering with Slow Forest Coffee and
Krakakoa, a producer of sustainable, traditional- At Indika Energy, we have for years practiced
grown coffee and cocoa, leveraging agroforestry a wide range of decarbonization techniques
expertise and social commitment to revolutionize to reduce our emissions, and we continue to
our regenerative farming systems. These actions refine them while also innovating new ways
yield positive effects on the climate, biodiversity, of minimizing our carbon footprint. At the
and profitability, thereby enabling us to contribute Kideco Jaya Agung (Kideco) mine in Paser, East
to societal well-being and livelihoods. Kalimantan, we introduced solar panels to
generate some of the electricity provided by
Technology is another key focus area for Indika
diesel generators, and we continue to increase
Energy’s diversification. In 2023, our subsidiary
tthe share of solar photovoltaic (PV) in our energy
Xapiens continued to collaborate with leading
mix. The Kideco site also uses electric buses to
technology companies including Microsoft,
transport employees, cutting off another source
Amazon Web Services, Odoo, SANS Cyber
of emissions.
Security Awareness, and HP, as well as developing
applications for clients in the EV industry and Where we still need to use diesel, we now consume
AI-based coal prediction solutions in the mining B35 biofuel, which contains a 35% blend of palm
industry. oil derivative, marking an improvement from
the B30 biofuel used previously. Our subsidiary
Divestment Tripatra Engineers and Constructors is currently
developing biofuel for sustainable aviation fuel
In 2023, Indika Energy continued a series of
and biogas and biomass for energy generation.
ongoing divestments from what has long been
our core, and most carbon-intensive, business
sector: coal.
In 2021, we divested our majority stake in I N 2023, W E CO N T I N U E D TO S E E K O U T N E W
Mitrabahtera Segara Sejati (MBSS), a major player O P P O RT U N I T I E S A N D G R O W O U R P R E S E N C E I N
in the coal- shipping sector. In 2022, we divested E X I S T I N G LO W- A N D Z E R O - C A R B O N S E G M E N T S
from Petrosea, a leading mining services and
engineering provider. And in 2023, we started
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Our solar use has spread from the mine site
I N 2023 W E R E D U C E D O U R S CO P E 1 A N D 2
to our other facilities, including at our INDY
E M I S S I O N S BY 11.26% I N 2023, D E M O N S T R AT I N G
Bintaro Office Park just outside Jakarta, and at
T H AT W E A R E W E L L O N T R AC K (O R B E YO N D) TO
the Interport Business Park in Balikpapan, East
M E E T O U R 2025 TA R G E T
Kalimantan.
An innovative decarbonization technique we are
increasingly using is the employment of artificial stunting as a result of poor childhood nutrition
intelligence technology to improve the efficiency threatens to undermine this boost. In Paser, East
of our processes and operations, ensuring we Kalimantan, where Kideco operates, for example,
minimize our energy use. This has the added the stunting prevalence rate increased to 24.9%
benefit of improving workplace safety, an issue of in 2022 from 23.6% in 2021 (according to Studi
utmost priority to Indika Energy. Status Gizi Indonesia).
As a result, in 2023 we reduced our scope 1 and Our holistic approach involves the government,
2 emissions by 11.26% in 2023, demonstrating communities in 14 villages, and related
that we are well on track (or beyond) to meet stakeholders to address the problem. This
our 2025 target. In 2023, we reassessed our ESG approach includes increasing access to quality
baseline targets, adjusting them to be in line nutrition, improving health services, providing
with our diversification updates by expanding our adequate nutrition education, and raising public
boundaries including our new businesses, and awareness.
coming up with even more ambitious ESG targets Another of our key initiatives is the Indika
that will have a more meaningful impact. Energy Mangrove Program in Action (IMPACT),
In the industries in which we operate, sometimes launched in March 2023. Working via Indika
it’s simply not feasible or possible to cut Nature alongside the national Peat and Mangrove
emissions entirely, in which case we turn to Restoration Agency (BRGM), we aim to rehabilitate
nature restoration activities to offset our carbon and restore 250 hectares of mangroves by 2025
footprint. As of the end of 2023, Kideco has in Paser, East Kalimantan. Last year alone we
rehabilitated more than 10,000 hectares of river planted more than 46,600 mangrove trees across
watersheds. Across the Indika Energy Group, we 35 hectares, which is expected to sequester 573
have also planted more than 162,000 mangrove tonCo2eq annually.
trees, thus helping restore an ecosystem that’s Mangrove planting not only restores these
an even more effective carbon sink than tropical unique ecosystems, but also helps the native
rainforests. This replanting not only has the biodiversity recover. Mangroves are a key nursing
benefit of offsetting an estimated 1,988 tonCO2eq ground for many of the aquatic species that
of emissions annually, but also contributes to the fishing communities rely on. They also serve as a
livelihoods of local communities and well-being buffer against tidal surges, protecting coastlines
of the native biodiversity. from erosion and vulnerable communities from
As technologies develop and new opportunities economic losses.
present themselves, Indika Energy will continue Crucially, mangroves are also among the most
finding ways to decarbonize. efficient stores of carbon in the world: hectare for
hectare, they store more carbon in their soil alone
Making an Impact than tropical rainforests do in their combined soil
and vegetation. So, when completed, the IMPACT
In parallel with our diversify-divest-decarbonize
initiative is expected to sequester the equivalent
approach, in 2023 we also continued to advance
of more than 18,000 cars’ worth of emissions.
our programs and initiatives aimed at making a
positive impact on the communities where we live We recognize that our socio-economic
and work. contribution goes beyond local employment
and procurement and the payment of taxes and
Among these is the Canting (Cegah dan Tangani
royalties. We identify opportunities to partner
Stunting) program to prevent and tackle
with and contribute to the communities living
childhood stunting — a perennial problem in
near our industrial assets. During 2023, we spent
Indonesia. Indonesia has a “demographic bonus”,
66.1 billion Rupiah on community development
where a large proportion of working-age citizens
drives the country’s productivity and growth. But
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programs. This was an 10.43% increase from the and responsible business model, aligning
previous year. our growth with the broader objectives of
social and environmental stewardship.
We also made a positive impact on the lives of our
more than 3,500 employees, and the thousands of
family members who depend on them. Protecting Taking the Lead
the health and well-being of all our people is one Indika Energy also continues to be a
of our key priorities. We have always nurtured a leading player in domestic, regional
culture of safety that goes beyond box-ticking and and international forums promoting
looks at ways to anticipate and mitigate potential sustainability. In 2023, we took part at the
risks. COP28 United Nations climate summit
in Dubai. Azis Armand, Vice President
While we endeavored to ensure all systems and Director and Group CEO, participated in a
safeguards were in place to keep employees safe high-level panel discussion titled “Nature
on the job, it is with great sadness that we report Worth Investing In?”, in which he set out
that two of our contractors lost their lives in work- Indika Energy’s ambitions for its nature-
related accidents at our operations during 2023. based solutions businesses through
Our deepest sympathies go out to their families, the three pillars of carbon business,
and we have since strengthened measures to agroforestry and biomass energy.
prevent such incidents and rededicated ourselves
to the pursuit of the zero-fatality workplace that Indika Energy also attended the 2023
has long been our hallmark. World Economic Forum (WEF) in Davos,
Switzerland, discussing issues ranging
from clean cities to green investments to
Impact Through Leadership
the voluntary carbon market as a crucial
In 2023, Indika Energy took significant strides in climate solution.
enhancing its governance framework, continuing
our pursuit of the highest standards of integrity At the regional level, Indika Energy also
and ethical conduct. A key milestone was the participated in the 2023 ASEAN Business
renewal of our anti-bribery management system Advisory Council (ASEAN-BAC), which
ISO 37001 certificate. This accomplishment discussed the Southeast Asian region’s
underscores our unwavering commitment energy transition outlook, solutions to
to business ethics, demonstrating to our funding shortages, and opportunities for
stakeholders and partners that Indika Energy cross-border collaboration.
always prioritizes transparency and accountability
in every aspect of our operations. Indika Energy also remains a committed
signatory to the United Nations Global
Furthermore, we continued integrating ESG Compact (UNGC), a grouping of forward-
aspects into the Key Performance Indicators thinking companies and governments
(KPIs) of our Board, ensuring that our leadership taking the lead to build a sustainable
is directly accountable for driving sustainability future for all. In 2023, we finalized our
progress. Additionally, our Sustainability UNGC Communication on Progress
Committee has played an instrumental role in Report, detailing and demonstrating our
overseeing the implementation of sustainability- commitment to progress on sustainability
related policies, spearheading sustainability governance, human rights, labor,
initiatives, and performance monitoring. Their environment, and anti- corruption issues;
continuous efforts have been central to Indika the efforts we take to prevent negative
Energy’s journey towards a more sustainable and social and environmental impact;
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our performance indicators, remediation, and highlight the critical importance of collaborative
reporting mechanisms to address grievances; and efforts among all stakeholders. Together, we can
reflections on lessons learned. accelerate the transition to sustainable energy,
pushing the boundaries of what is possible.
We also participate in the CDP initiative
(formerly the “Carbon Disclosure Project”), We are deeply grateful for the unwavering support
which encourages companies and governments and dedication of all stakeholders involved in this
to commit to environmental transparency and transition. Your contributions, big and small, have
accountability through disclosure reports. We been instrumental in propelling us forward. As
submitted our first CDP report in July 2023, on we embark on this next phase of our journey, your
climate change and water security, and received continued engagement and partnership will be
scores of C for each. key to unlocking new opportunities and achieving
our collective goals.
Our presence, participation, and leading role in
these forums and initiatives reflect the very real With our focus on green innovations, energy
progress we are making on our sustainability efficiency, and collaborative efforts, Indika
journey. Today, we have an ESG rating of BBB Energy’s journey towards a sustainable energy
from MSCI ESG Ratings and 34.9 (High Risk) from and climate future will help mitigate climate
Sustainalytics, the two leading ratings agencies, change and build a resilient world for future
which puts Indika Energy in fifth place among generations. The opportunity is here now, and it’s
global companies in the coal sector. ours to seize. Let’s go.
New Challenges Ahead
2023 marked an inflection point in Indika
Energy’s ongoing sustainability journey. It was
M. Arsjad Rasjid P.M.
a year in which we not only continued to pursue
President Director
our wider goals but recommitted ourselves
even further: setting even more ambitious
targets, introducing new parameters to generate
meaningful outcomes, and continuing to deliver
on our promises. With a higher bar to clear, come
new challenges. And that makes us even more
determined than ever to deliver.
As we navigate today’s energy transitions, we face
multifaceted challenges including technological
advancements, regulatory changes, and the
urgent need for widespread adoption of green
energy solutions. These obstacles remind us that
the path to a sustainable energy future is complex
and fraught with uncertainties. Yet, they also
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Contents Page
Letter from our President Director Environmental
Emissions and energy
Overview Water and effluents
Waste management
About this Report Biodiversity and land use
Report scope and boundary
Our material ESG topics
Reporting period Social
Reporting cycle Developing our human capital
Reporting standards Championing diversity, equity, and inclusivity
External assurance Promoting safety in the Indika Energy Group
Restatement of information Community development
Feedback channel Human rights and grievance mechanism
Key highlights Governance
Pathway to net zero Our robust governance structures
Our 2025 and 2030 ESG targets Operating with ethics and integrity
2023 ESG performance
Financial performance
Creating value for society
BOC BOD statement
Supporting global efforts towards sustainability
Assurance statement
Indika Energy at a glance Glossary
Our journey towards a sustainable future GRI index
Engaging with our stakeholders and creating value WEF SCM index
Our sustainability approach and strategy
United Nations of Global Compact index
Risk and mitigation
Sustainability governance Appendix
Our external commitments Contact us
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About this Report
I N D I K A E N E R GY U N D E R S TA N D S T H AT S U S TA I N I N G A S U C C E S S F U L B U S I N E S S OV E R T H E
LO N G T E R M I S A B O U T M O R E T H A N J U S T T H E B U S I N E S S I T S E L F. T H E E N V I R O N M E N TA L ,
S O C I A L A N D G OV E R N A N C E ( E S G ) A S P E C T S O F W H AT W E D O D E T E R M I N E S U S TA I N A B I L I T Y.
T H AT I S W H Y W E A R E CO M M I T T E D TO P R OV I D I N G T H E B I G P I C T U R E A B O U T O U R E S G
CO M M I T M E N T S A N D P R O G R E S S T H R O U G H T H I S A N N U A L R E P O RT I N G P R O C E S S .
The corollary to diversifying our portfolio is
Report scope and boundary that we must also reduce our exposure to high-
This report focuses on the ESG topics material to carbon businesses in our portfolio. We see this
the Indika Energy Group, as informed by extensive as a necessary part of our long-term vision to
consultations with Indika Energy’s internal and achieve our sustainability goals and contribute
external stakeholders. to a better planet for all. This was the basis for
Indika Energy to start the divestment process of
Unless otherwise stated, we report financial data
Multi Tambangjaya Utama (MUTU) in 2023, after
and non-financial data, including environmental,
previously divested from Mitrabahtera Segara
social, and governance data from companies in
Sejati (MBSS) and Petrosea.
which Indika Energy holds more than 50% of
shares and has management control. These are PT For further information regarding each business,
Kideco Jaya Agung (Kideco), PT Indika Indonesia please refer to the chapter “Indika Energy at a
Resources (IIR) including PT Multi Tambangjaya Glance” within this report.
Utama (MUTU), PT Tripatra Engineering and PT
Tripatra Engineers and Constructors (Tripatra),
PT Interport Mandiri Utama (Interport), PT Our material ESG topics [GRI 3-1,
Masmindo Dwi Area (Masmindo), PT Mekko 3-2, 3-3]
Metal Mining (Mekko), PT Empat Mitra Indika We regularly undertake sustainability-related
Tenaga Surya (EMITS), PT Indika Multi Properti materiality assessments that consider input
(Indika Nature), PT Ilectra Motor Group (IMG), from within our business and other stakeholders.
and PT Xapiens Teknologi Indonesia (Xapiens). Materiality assessments are formal exercises that
[GRI 2-2] involve engaging with stakeholders to find out the
relative importance of ESG-related topics to them.
We use these assessments into our strategic
overview and our sustainability-related
disclosures and publications. This assessment
identifies topics that are material to our
development, performance and current position
as well as for our future opportunities.
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During 2023, we undertook materiality assessments with internal and external stakeholders to validate whether our
current material topics continue to be appropriate and to identify emerging issues.
2023 materiality assessment process
DESK RESEARCH S TA K E H O L D E R E N G AG E M E N T FINAL SCORING
We considered our original We engaged with our external and The Sustainability team and
material topics and assessed internal stakeholders including Committee reviewed the findings.
the inclusion of new topics and/ government, investors, banks, Where interest was expressed,
or sub-topics through looking at insurance companies, media, we shared the final list of topics
stakeholders’ areas of interest customers, industry associations, with participating stakeholders.
and the materiality assessments and NGOs as well our internal Work is underway to align our
undertaken by our peers. stakeholders which cover strategy and communications with
employee representatives. the updated identified topics.
We finalized high-priority ESG topics that are material to our business and stakeholders. These same material topics are
also of medium and high impact on our business, as shown in the following graph:
HIGH OCCUPATIONAL HEALTH AND SAFETY
CORPORATE GOVERNANCE
GHG EMISSIONS LOCAL COMMUNITIES
IMPORTANCE TO STAKEHOLDERS
WASTE MANAGEMENT DIVERSITY, INCLUSION, AND EQUAL
OPPORTUNITY
LAND USE AND BIODIVERSITY
EMPLOYMENT
GRIEVANCE MECHANISM WATER AND EFFLUENTS
RIGHTS OF INDIGENOUS PEOPLES
ECONOMIC PERFORMANCE ENERGY
TRAINING AND EDUCATION
INDIRECT ECONOMIC PERFORMANCE
SUPPLIERS AND VALUE CHAIN
FREEDOM OF ASSOCIATION AND INNOVATION AND TECHNOLOGICAL
COLLECTIVE BARGAINING ADVANCEMENTS TAX GOVERNANCE
MATERIALS ANTI-COMPETITIVE BEHAVIOR
MARKET PRESENCE
LOW IMPACT TO BUSINESS HIGH
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⚫ Emissions and energy [GRI 302, 305] ⚫ Diversity, inclusion, and equal opportunity
Addresses the company’s energy [GRI 405]
consumption in various forms, such as fuel, Addresses the company’s approach to
electricity, heating, cooling, or steam, as promoting diversity, eliminating gender
well the measurement and management bias, and supporting equal opportunity
of greenhouse gas emissions (including at work. Includes the diversity of its
fugitive emissions associated with coal governance bodies and its employees
mining), ozone-depleting substances (ODS), as well as fairness in remuneration.
nitrogen oxides (NOx), and sulfur oxides
(SOx), among other significant air emissions. ⚫ Occupational health and safety [GRI 403]
Addresses how the company provides
⚫ Water and effluents [GRI 303] healthy and safe work conditions
Addresses impacts the company has for its workforce, which involve both
on the water resources from which it prevention of physical and mental harm,
withdraws and consumes and to which and promotion of workers’ health.
it discharges for its own operations.
⚫ Local communities [GRI 413, 414]
⚫ Waste management [GRI 306] Addresses the economic, social, cultural,
Addresses the impacts of the waste and/or environmental impacts that the
generated in the company’s operations and company’s activities and infrastructure
how the company manages risks related can have on local communities.
to the environment and human health
from waste generation and disposal. ⚫ Economic performance [GRI 201, 203, 207]
Addresses the economic value generated
⚫ Land use and biodiversity [GRI 304] and distributed by the company, which
Addresses the company’s strategy to include its defined benefit plan obligation,
minimize the impact of its business and the financial implications of climate
activities on land and to protect change. It also addresses indirect economic
biological diversity to ensure the survival impacts that have an influence on the
of plant and animal species, genetic local community’s wellbeing and longer-
diversity, and natural ecosystems. term prospects for development.
⚫ Employment [GRI 401, 402, 404, 406, 407] ⚫ Corporate governance [GRI 206, 408, 409,
Includes the company’s approach to 410, 411, 415, 416]
employment or job creation: hiring, Addresses the framework for attaining
recruitment, retention and related practices, the company’s objectives, encompassing
and the working conditions it provides. practically every sphere of management,
While training and education addresses from action plans and internal controls to
the company’s approach to training and performance measurement and corporate
upgrading employee skills, and performance disclosure. This also addresses the company’s
and career development reviews. approach to upholding responsible business
practices: business ethics, anti-corruption,
human rights and grievance mechanisms.
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Reporting period [GRI 2-3] External assurance [GRI 2-5]
Unless otherwise stated, the ESG disclosures We have engaged SGS Indonesia to provide
contained in this report pertain to the period from independent assurance of this report’s GRI
1 January to 31 December 2023. Where relevant, compliance. The details of assurance engagement
we have supplemented the data and information can be found in the Assurance Statement.
for 2022 to provide more context.
Restatement of information [GRI
Reporting cycle [GRI 2-3] 2-4]
We are committed to publishing our Sustainability We report several restatements, which include:
Report on an annual basis.
⚫ 2022 Scope 1 and 2 GHG emissions data
Reporting standards ⚫ 2022 energy consumption data
This Sustainability Report was prepared in
In 2023, we conducted an exercise to recalculate
accordance with POJK No. 51/POJK.03/2017,
our 2022 GHG emissions and energy consumption
the Global Reporting Initiative (GRI) 2021 (in
to reflect our strategic pivots more accurately,
accordance), and Core Metrics of the WEF
including the new businesses (EMITS, Ilectra
Stakeholder Capitalism Metrics. The content of
Motor Group, Masmindo, Mekko, Indika Nature,
this report also addresses the United Nations’
Xapiens) and omitting calculations from a
Sustainable Development Goals (SDGs) and
divested entity (Petrosea). We also used a more
the Ten Principles of the United Nations Global
standardized calculation methodology for the
Compact (UNGC), to which Indika Energy is a
two metrics.
signatory.
Indika Energy is a signatory to the principles of the Feedback channel [GRI 2-3]
UNGC, and this Sustainability Report outlines our
Your feedback is important to us. Please reach out
support for its development objectives and our
to us with your comments or questions on this
work on implementing the UNGC’s 10 principles.
report and our sustainability performance.
At the start of 2022, we signed a letter of
sustainability@indikaenergy.co.id
commitment to incorporate the World Economic
Forum (WEF) Stakeholder Capitalism Metrics
(SCM) into our ESG reporting, demonstrating
our endeavors to increase transparency and
accountability.
14
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Key Highlights
AT I N D I K A E N E R GY W E H AV E P U T T H E N E T Z E R O T R A N S I T I O N AT T H E H E A RT
O F O U R B U S I N E S S S T R AT E GY: CO M B I N I N G I N V E S T M E N T S I N B U S I N E S S E S
T H AT E N A B L E T H E E N E R GY T R A N S I T I O N W I T H AC T I O N S TO D E C A R B O N I Z E
O U R O P E R AT I O N S A N D VA LU E C H A I N S .
Pathway to net zero
We are committed to responsibly managing our portfolio and carbon footprint in line with our scope 1 and 2
emissions reduction targets, 25% by the end of 2025 and 33% by the end of 2030 against our 2020 baseline,
with a longer-term ambition of achieving net zero emissions by the end of 2050.
To achieve these, we have mapped our carbon footprint across our value chain and business process to
ensure we have a clear understanding of where to focus our efforts, which informs our pathway to net zero.
SCOPE 1&2 GHG EMISSIONS PROJECTIONS
in kt CO2eq Historical scope 1&2 emissions
1,203 1,201 Projection of scope 1&2 emissions
1,161 Carbon offsets (Illustrative)
1,030 2025 Target Path to net zero emissions by 2050
905 ktCO2e 2030 Target
810 ktCO2e
By 2025, we will By 2030, we will
reduce our emissions
INDIKA ENERGY
reduce our emissions
by 25% by 33%
2050 Ambition
NET ZERO Net Zero Emissions
ROADMAP
2020 2021 2022 2023 2025 2030
2050
Emissions in 2023
BUILDING FOUNDATION STRENGTHENING PRACTICES ACCELERATING GROWTH
Scope 1&2 GHG Emissions
(kt CO2eq) Supporting energy Reducing carbon footprint of We cater the nation’s strategic
1,030 transition our operations necessities to enable
2020 (baseline) 1,203 Investing in low-carbon Implementing digital sustainable development while
economy technology in mining taking care for the environment
operations and making positive di�ference
Divesting coal-related to the society
Scope 1&2 GHG Emissions
Intensity assets Investing in EVs and
(ton CO2eq / ton coal electrification of equipment By 2050, we expect to be
net zero
production) Partnering to reduce the
0.031 carbon footprint across
our value chains
Installing solar PV and
battery storage system
2020 (baseline) 0.033
Measuring scope 3
emissions Adopting the use of B35
diesel
Developing carbon
reduction program with Conducting reclamation
contractors 15
Page 16
P T I N D I K A E N E R GY T B K .
Indika Energy
2025 and 2030
ESG Targets
SCOPE 1 AND 2 EMISSIONS
(Relative to 2020 baseline)
25% 33% 50% 55% 10% 25%
Reduce scope 1 Reduce scope 1 Reduce scope 1 Reduce scope 1 Reduce scope 1 Reduce scope 1
and 2 emissions and 2 emissions and 2 emissions and 2 emissions and 2 emissions and 2 emissions
by 25% in 2025 by 33% in 2030 intensity per intensity per intensity per ton intensity per ton
revenue by 50% revenue by 55% coal production coal production
in 2025 in 2030 by 10% in 2025 by 25% in 2030
ENERGY MANAGEMENT
(Relative to 2020 baseline)
30% 35%
Increase % RE Increase % RE
share in the energy share in the energy
consumption mix to consumption mix to
30% by 2025 35% by 2030
WATER MANAGEMENT
(Relative to 2020 baseline)
30% 32%
Reduce water Reduce water
withdrawal intensity withdrawal intensity
per revenue by 30% per revenue by 32%
by 2025 by 2030
WASTE MANAGEMENT
(Relative to 2020 baseline)
40% 45%
Divert 40% Divert 45% of
of waste from waste from
landfill by 2025 landfill by 2030
LAND AND BIODIVERSITY
(Relative to 2020 baseline)
20%
Increase land
reclamation
area by 20% by
2025
16
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Our New Ambition: A Business
Model Compatible with a
Sustainable World
We continue to track and assess ESG metrics applicable to Indika Energy’s sustainability goals, and have revisited our
targets for a balance between ambitious and realistic.
In 2023, we reassessed our scope 1 and 2 ESG baseline targets, expanded our data boundaries including our new business
units and ventures, and came up with even more ambitious ESG targets that will have a more meaningful impact. We
also identifies decarbonization initiatives for scope 1 and 2 across the Group’s, and sequence it into a roadmap in line
with Indonesia’s and Indika Energy’s considerations.
LOCAL COMMUNITIES BUSINESS ETHICS
1% 80% 100%
1% EBIT spent on 80% of employees attend 100% of employees to
community development code of business conduct attend code of business
every year training by 2025 conduct training by 2030
100% 100%
100% of board members 100% of board members
HEALTH AND SAFETY to attend code of to attend code of
business conduct business conduct
training by 2025 training by 2030
Zero
Zero fatalities every
year for employees and
contractors
CORPORATE GOVERNANCE
DIVERSITY AND INCLUSION 30%
30% (by weight) of board & senior
management evaluation KPIs tied to ESG
topics by 2025
20% 25%
20% women in 25% women in
workforce by 2025 workforce by 2030
15% 20%
15% women in senior 20% women in senior
management by 2025 management by 2030
17
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P T I N D I K A E N E R GY T B K .
2023 ESG Performance
W E TA K E O U R R E S P O N S I B I L I T I E S TO O U R P E O P L E , S O C I E T Y A N D E N V I R O N M E N T S E R I O U S LY,
A N D A L I G N O U R AC T I V I T I E S W I T H T H E R E L E VA N T N AT I O N A L A N D I N T E R N AT I O N A L S TA N DA R D S ,
I N C LU D I N G T H E U N I T E D N AT I O N S ’ S U S TA I N A B L E D E V E LO P M E N T G OA L S ( S D G S ) , T H E T E N
P R I N C I P L E S O F T H E U N I T E D N AT I O N S G LO B A L CO M PAC T ( U N G C ) , A N D T H E W E F S TA K E H O L D E R
C A P I TA L I S M M E T R I C S ( S C M ) .
SCOPE 1 GHG EMISSIONS ENERGY INTENSITY
(TONCO2EQ) (GIGAJOULE/TON COAL PRODUCTION)
3.50% 15.13%
1,197,167
11.41% 1.69%
0.44
1,155,280
1,023,433
0.39
0.38
11.41% 15.13%
2021 2022 2023 2021 2022 2023
SCOPE 2 GHG EMISSIONS ENERGY CONSUMPTION
(TONCO2EQ) (GIGAJOULE)
19.95%
41.81%
20,938,258
6,576
26.39% 4.01%
5,482
14,794,645
15,413,456
19.95% 4.01%
3,866
2021 2022 2023 2021 2022 2023
SCOPE 1 AND 2 GHG EMISSIONS INTENSITY SCOPE 1 AND 2 GHG EMISSIONS INTENSITY
(TONCO2EQ/ TON COAL PRODUCTION) (TONCO2EQ/ USD MN REVENUE)
6.67%
29.94%
23.17%
0.031
398
31.07%
338
0.029
274
6.67% 23.17%
0.022
18
2021 2022 2023 2021 2022 2023
Page 19
WATER WITHDRAWAL
(ML)
SUSTAI NABI LI TY RE PO RT 2 0 2 3
26.69%
4,896.11
3,864.73
42.20%
2,829.71
42.20% EMPLOYEE FATALITIES AT MANAGED OPERATIONS
(LIVES)
2021 2022 2023 0 FATALITY RECORD
MAINTAINED
WATER WITHDRAWAL INTENSITY
(ML/KILOTON COAL PRODUCTION) 2023 2022 2021
30.41%
CONTRACTOR FATALITIES AT MANAGED OPERATIONS
(LIVES)
0.112
31.81%
0.086
2
1
0.077
31.81%
1
0
2021 2022 2023 2021 2022 2023
WASTE REUSED AND RECYCLED COMMUNITY INVESTMENT SPENDING [GRI 201-1]
(TON) (% OF EBIT)
117.75%
3.50% 1.45%
1.24%
5,238
5,428
0.38%
3.50% 1.45%
of EBIT
2,493
2021 2022 2023 2021 2022 2023
COMMUNITY DEVELOPMENT
RECLAMATION AREA
(NUMBER OF LIVES IMPACTED)
(HECTARE)
3.96% 50.96%
11.88%
400,533
5,879.42
35.45%
5,655.42
5,054.73
265,318
50.96%
195,880
3.96%
2021 2022 2023 2021 2022 2023 19
Page 20
P T I N D I K A E N E R GY T B K .
Financial CORE PROFIT (LOSS) [GRI 201-1]
Performance
(USD MILLION)
128.73%
521.20
72.02%
REVENUE [GRI 201-1]
(USD MILLION)
145.83
72.02%
227.86
41.24%
4,334.91
30.18 %
2021 2022 2023
3,069.16
3,026.84
*) Core Profit (Loss) is defined as net profit (loss)
attributable to the Owner of the Company for the
30.18 % year, excluding: 1) Amortization of Kideco and MUTU
intangible assets; 2) Changes in the fair value of
contingent consideration obligations related to the
acquisition of additional shares in Kideco in 2023.
2021 2022 2023
OPERATING COST [GRI 201-1] ADJUSTED EBITDA [GRI 201-1]
(USD MILLION) (USD MILLION)
32.51%
65.56%
1,299.19
240.73
69.59%
977.51
0.39%
145.40
395.13
69.59%
239.78
0.39%
2021 2022 2023 2021 2022 2023
GROSS PROFIT [GRI 201-1] NET PROFIT (LOSS) [GRI 201-1]
(USD MILLION) (USD MILLION)
58.02% 684.27%
452.68
1,450.81
918.12
61.95% 73.56%
61.95% 73.56%
551.98
57.72
119.68
20
2021 2022 2023 2021 2022 2023
Page 21
SUSTAI NABI LI TY RE PO RT 2 0 2 3
Creating Value for Society
The energy we produce at Indika Energy Group
helps power economic growth and improves the
Indirect economic impact
quality of life for the people of Indonesia. Our
Employment [203-1b]
business activities make significant contributions
to the national and local economies in which Employment is one of the most obvious signs
we operate. The most significant derive from of the economic benefits we generate. We
employment, procurement, payment of taxes and provide families with their livelihoods via
royalties, and community development, but we direct employment at our operations and
also try to ensure that we create as much value indirect employment, via contractors and our
for them as possible all along our value chain. Our use of local suppliers. We prioritize employing
aim is to minimize dependency on our operations, people from the regions close to our assets. This
and promote healthy, sustainable communities extends to investing in education projects, skills
with diversified and resilient local economies. development programs, and apprenticeships
This is particularly important as changing market for local people. This also creates jobs, drives
conditions may continue to affect our business. economic development and social empowerment,
and generates revenue for national and
subnational governments. This year, we provided
Direct economic value generated compensation and benefits to more than 3,500
and distributed employees across the nation. Our local hires in
The economic value obtained by the Company 2023 amounted to 40.40% of our total employees.
during the reporting period (on accrual basis), was
We emphasize diversity in our training initiatives,
distributed to stakeholders interests as needed.
particularly given our own limited capacity to
In 2023, we recorded USD 119.7 million net profit.
offer additional employment in the current
Disclosure information related to the economic
economic climate. We also seek to work with
value generated is as stated in Financial highlight.
local governments, education authorities and
We paid all relevant taxes on time, including community representatives to identify skill gaps
Employee Income Tax, Corporate Income Tax, and find the best ways to meet the needs and
Period VAT, royalties and Land & Building Tax. We expectations of our stakeholders.
also submitted annual and monthly tax return
documents (SPT) and other relevant documents Local procurement [203-1b]
to the regulatory agency on time [GRI 207-1]. In
We use local suppliers whenever we can, to reduce
2023, we contributed USD 1,333.2 million in taxes
our costs and provide our host communities
and royalties to the government..
with alternative employment opportunities.
Indika Energy Group complies with all applicable Our development of local procurement bases
laws and regulations related to tax payments as also helps local governments to fulfill their own
a part of our efforts to support state financing development objectives. Some of the regions
and national development. We do not receive where we operate lack strong local businesses. We
financial assistance from the Government [GRI want to help these businesses grow and become
201-4], although the government does offer competitive. Aside from that, we work with our
financial assistance to buyers of ALVA, our electric local suppliers, nurturing them to comply with
two-wheelers, in a bid to push electric vehicle (EV) ESG standards
adoption in Indonesia. [GRI 201-4]
Our community and procurement teams work
together to identify needs and develop support
programs for local businesses, to help them meet
our quality standards and expectations with
regard to conduct. We offer targeted business
21
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P T I N D I K A E N E R GY T B K .
management training, and future business microeconomic development programs
within specific limits. and working with local suppliers. [203-1,
203-1c].
Community development [203-1b]
Our community development programs Market share
are an integral part of our community We are also committed to ensuring
and stakeholder engagement strategies. energy stability in Indonesia. Through
We design our programs to help reduce our subsidiaries Kideco Jaya Agung, we
dependency on our operations, encourage produced 30.1 million metric tons of coal in
self-reliance and contribute to sustainable 2023, with 29.7% allocated for the Domestic
growth in our local regions. We aim for the Market Obligation (DMO) in Indonesia.
greatest impact against both short- and This exceeds the 25% DMO required by the
long-term objectives and are aligned with government. Exports of coal produced by
each asset’s overall operational strategy, Kideco in 2023 went to China, South Korea,
closure planning and local and/or national India, the Philippines, Malaysia, Japan,
development objectives. Taiwan, and Singapore. [GRI 2-6]
The programs must have input from those
stakeholders identified during stakeholder
assessment. They help to further improve E C O N O M I C I M PAC T
the prosperity and resilience of our local
communities by supporting access to basic USD 119.7 million
services, such as education and health.
NET PROFIT
In 2023, we transformed communities
through our community development
programs, on which we spent more than
USD 1,333.2 million
IDR 66.1 billion. With this spending, we TA X CO N T R I B U T I O N TO T H E G OV E R N M E N T
are able to empower our communities
by providing access to health care and IDR 66.1 billion
education, implementing environment
conservation programs, and enhancing the CO M M U N I T Y I N V E S T M E N T S P E N D I N G
community’s financial independence. We
provide skill enhancement and business
opportunity creation in surrounding
communities. [GRI 203-2] N O N E C O N O M I C I M PAC T
Infrastructure 3,500+ lives
Many of our operations are located in I M PAC T E D F R O M E M P LOY E E WAG E S A N D B E N E F I T S
remote areas; here we can contribute
by sharing infrastructure, such as roads, 1,400+
water, sanitation projects and electricity,
LO C A L H I R E S AC R O S S I N D I K A E N E R GY G R O U P
with communities. This gives local people
safer and faster access to other towns and
400,000+
markets, meets local water needs, and
facilitates access to education and health B E N E F I C I A R I E S O F CO M M U N I T Y D E V E LO P M E N T P R O G R A M S
care. [203-1b]
We believe there is a direct link between
building infrastructure and general
community development. Contributions
to local infrastructure have a significant
impact on long-term growth and help to
alleviate poverty. This includes pro-bono
development of physical infrastructure
such as road repair, bridges, schools as well
22
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Supporting global efforts towards sustainability
Indika Energy continues to be a leading player in domestic, regional and international forums
promoting sustainability. In 2023, we took part at the COP28 United Nations climate summit in
Dubai, discussing investments in nature-based solutions; at the World Economic Forum (WEF) in
Davos, Switzerland, discussing issues ranging from clean cities to green investments to the voluntary
carbon market as a crucial climate solution; and at the ASEAN Business Advisory Council (ASEAN-
BAC), looking at the Southeast Asian region’s energy transition outlook, solutions to funding
shortages, and opportunities for cross-border collaboration.
Azis Armand, Vice President and Group CEO of Indika Energy
“ T H E P R OAC T I V E E N G AG E M E N T O F B U S I N E S S E S A N D CO L L A B O R AT I V E E N D E AVO R S A M O N G D I V E R S E
S TA K E H O L D E R S A R E I M P E R AT I V E FO R T H E P R O S P E R I T Y O F N AT U R E- BA S E D I N V E S T M E N T S , Y I E L D I N G B E N E F I T S
F O R B OT H T H E G LO BA L C L I M AT E A N D LO C A L E CO SYS T E M S . I N D I K A E N E R GY I S CO M M I T T E D TO E X PA N D
I T S LO W- C A R B O N B U S I N E S S E S BY I N V E S T I N G I N N AT U R E- BA S E D S O LU T I O N S S U C H A S C A R B O N B U S I N E S S ,
AG R O FO R E S T RY, A N D B I O M A S S E N E R GY. TO G E T H E R , W E C A N C R E AT E A S U S TA I N A B L E F U T U R E W H E R E N AT U R E
A N D H U M A N I T Y T H R I V E I N H A R M O N Y.”
23
Page 24
In Indika Nature's biodiverse realm, hornbill serves as a poignant emblem of endangered biodiversity, emphasizing the pressing necessity for conservation endeavors to safeguard its habitat and secure its existence.
Page 25
SUSTAI NABI LI TY RE PO RT 2 0 2 3
01.1
—
Indika Energy at a Glance
I N D I K A E N E R GY WA S E S TA B L I S H E D O N O C TO B E R 19 T H , 2000 , A N D L I S T E D O N T H E I N D O N E S I A
S TO C K E XC H A N G E ( I DX ) U N D E R T H E T I C K E R CO D E I N DY I N 2008. FO R N E A R LY A Q U A RT E R O F A
C E N T U RY, O U R T R AC K R E CO R D H A S B E E N O N E O F E X E M P L A RY E N V I R O N M E N TA L , S A F E T Y A N D
R E G U L ATO RY CO M P L I A N C E , A S W E L L A S S T R O N G S TA N DA R D S O F CO R P O R AT E G OV E R N A N C E , I N
L I N E W I T H O U R R E S P O N S I B I L I T I E S A N D CO M M I T M E N T TO A L L S TA K E H O L D E R S .
As the world moves towards a low-carbon economy, we continue to be focused on supporting the energy
needs of today whilst investing in a transition for tomorrow that is just, equitable and sustainable. The world
we envision will look very different, with new sources of energy and even greater levels of connectivity.
Positioned as Indonesia’s leading diversified investment company, Indika Energy continues to expand
its wide-ranging portfolio with a mix of investments in businesses with strong growth opportunities,
transformative potential, and prospects for empowering society. Today, we are involved in logistics and
infrastructure, minerals, nature-based solutions, renewable energy, electric vehicle ecosystem, and digital
technology — all part of our commitment to energize Indonesia for a sustainable future. [GRI 2-1, 2-6]
Our commitment to ESG principles underscores our belief in the interconnectedness of environmental
stewardship, social progress, and sound governance. Through transparent reporting and stakeholder
engagement, we strive to uphold the highest standards of corporate citizenship, driving positive change
and leaving a lasting impact for good on both society and the environment.
25
Page 26
P T I N D I K A E N E R GY T B K .
Our operations
Indika Energy is headquartered in Jakarta, with offices at
Graha Mitra on Jl. Jendral Gatot Subroto Kav. 21, Jakarta, and at
INDY Bintaro Office Park, Tangerang, with operational areas
spread across Indonesia, including on the islands of Sumatra,
Kalimantan, Java, Bali, Sulawesi, and Papua. As of the end
of 2023, the Company had no operational activities outside
Indonesia. [GRI 2-1]
11
54 9 10 1
22 21 6
7
14 13
2 5 16
15 17
12
20
18
1 Kideco Jaya Agung, East Kalimantan 8 Masmindo Dwi Area, South Sulawesi
2 Tripatra Salak Project, West Java 9 Mekko Metal Mining, West Kalimantan
3 Tripatra BP Tangguh Project, West Papua 10 Indika Nature Jaya Bumi Paser, East Kalimantan
4 Tripatra Duri Project, Riau 11 Indika Nature Telaga Mas Kalimantan, East Kalimantan
5 Cirebon Electric Power and Cirebon Energi Prasarana, West Java 12 Indika Nature Natura Aromatik Nusantara, Central Java
6 Interport Fuel Tank Terminal, East Kalimantan 13 ALVA Manufacturing Facilities, West Java
7 Interport Patimban Project, West Java 14 ALVA Experience Centre, Jakarta
26
Page 27
SUSTAI NABI LI TY RE PO RT 2 0 2 3
19
3
8
15 ALVA Experience Centre Bandung, West Java 19 EMITS Sampoerna Kayoe Project, North Maluku
16 ALVA Experience Centre Semarang, Central Java 20 EMITS Solusi Bangun Indonesia Project, East Java
17 ALVA Experience Centre Surabaya, East Java 21 EMITS Jaya Bumi Paser Project, East Kalimantan
18 ALVA Experience Centre Denpasar, Bali 22 EMITS EcoOils Project, Riau
27
Page 28
P T I N D I K A E N E R GY T B K .
Supported by our values Our purpose
⚫ Unity in Diversity: Viewing diversity as an Energizing Indonesia for a sustainable future
asset to the company and accepting, valuing,
completing, and strengthening one another
as a solidly unified entity.
..influences our strategic
commitments
⚫ Integrity: Honest with oneself, others and at least 50% of our revenue in 2025 will come from
one’s work at every moment by upholding non-coal streams
prevailing ethical standards and legal norms.
achieving carbon neutrality by 2050 or sooner
⚫ Teamwork: Actively contributing and
collaborating based on trust and shared
interests rather than personal interests. …which we deliver through our
business model
⚫ Agility: Consistently demonstrating resilience Amidst our steadfast dedication to ensuring
and showing flexibility as well as adaptability energy fulfillment and security for Indonesia’s
through innovative entrepreneurship. development, our business also extends across
diverse sectors, from energy markets to the non-
⚫ Achievement: Achievement as the measure
coal sector. Embracing logistics and infrastructure,
of success and the motivation to do what is
minerals, nature-based solutions, renewable
best for the company.
energy, electric vehicle ecosystem, and digital
⚫ Social Responsibility: Highly concerned technology, we are helping shape a sustainable
to the environment and community and and innovative landscape for tomorrow. [GRI 2-1]
contributing added value to the society.
INDIKA ENERGY STRIVES TO CONTRIBUTE TO INDONESIA’S ENERGY
TRANSITION AND ECONOMIC DEVELOPMENT
Logistic assets, EPC services,
Logistics infrastructure, fuel storage
Field exploration of coal resources,
& infrastructure
production and trading Energy
resources
Minerals Exploration of gold and other
metals and minerals
Green Renewable energy, green economies
business
EPC services in oil & gas Energy
services
Electric EV mobility and its ecosystem
vehicle
Digital ventures Digital transformation
and analytics
Coal-fired power plant Energy
infrastructure
Others Business incubation to develop
emerging new businesses
Note: MBSS and Petrosea have been divested in 2021 and 2022 consecutively
28
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Energy
Key offerings: Exploration, production, processing,
energy services and electricity generation
Companies: PT Kideco Jaya Agung (Kideco), PT
Indika Indonesia Resources (IIR), PT Tripatra
Engineering and PT Tripatra Engineers and
Constructors (Tripatra)
Logistics and Infrastructure
Key offerings: Roads, ports, and coal barges for
transport to both domestic and export customers
Companies: PT Interport Mandiri Utama
(Interport), PT Kariangau Gapura Terminal Energi
(KGTE)
Minerals
Key offerings: Gold and bauxite mining
Companies: PT Masmindo Dwi Area (Masmindo),
PT Mekko Metal Mining (Mekko), PT Rockgeo
Energi Nusantara
Green Businesses
Key offerings: Renewable energy, nature-based
solutions
Companies: PT Empat Mitra Indika Tenaga Surya
(EMITS), PT Indika Multi Properti (Indika Nature)
Electric Vehicle
Key offerings: EV ecosystem
Companies: PT Ilectra Motor Group (ALVA), PT
Mitra Motor Group (INVI, Foxconn Indika Motor
- FIM), PT Kalista Nusa Armada (Kalista), PT
Industri Baterai Nusantara
Digital Ventures
Key offerings: Implementing digital
transformation across the Group and for external
clients
Companies: PT Xapiens Teknologi Indonesia
(Xapiens)
ALVA Manufacturing, located in Bekasi, West Java, has an
annual production capacity of 100,000 electric two-wheelers.
29
Page 30
P T I N D I K A E N E R GY T B K .
01.2
—
Our Journey Towards
a Sustainable Future
T H R O U G H O U T 2 0 2 3 , W E M A D E S U B S TA N T I A L S T R I D E S I N G R O W I N G T H E LO W- C A R B O N B U S I N E S S E S I N O U R
P O R T F O L I O, F R O M E V S TO N AT U R E- BA S E D S O LU T I O N S TO R E N E WA B L E E N E R GY. T H E S E V E N T U R E S FO R M A
C R U C I A L PA R T O F O U R S T R AT E GY TO G E N E R AT E AT L E A S T 50% O F O U R TOTA L B U S I N E S S F R O M N O N - COA L
AC T I V I T I E S BY 2 0 2 5 , A N D TO AC H I E V E N E T Z E R O C A R B O N E M I S S I O N S BY 2050.
In alignment with our commitment to sustainable
practices, our corporate responsibility extends
beyond our core business operations. Over the past
year, we actively pursued diverse programs aimed
at preserving natural ecosystems and empowering
communities. Our efforts in nature conservation
included initiatives such as reforestation projects,
biodiversity preservation, and wildlife habitat
restoration. These initiatives were strategically
designed to mitigate environmental impacts and
promote the long-term health of our planet.
Renewable energy
Simultaneously, our dedication to community
Empat Mitra Indika Tenaga Surya (EMITS) was
empowerment remained steadfast. We engaged
founded in 2021 as a joint venture between Indika
in a range of programs aimed at uplifting local
Energy and leading Indian solar power developer
communities, fostering economic development,
Fourth Partner Energy Ltd. From our first project, a
and enhancing social well-being. These initiatives
solar photovoltaic installation at the Kideco mine
encompassed education and skill development
site in Paser, East Kalimantan, EMITS has since
programs, health care initiatives, and support
grown rapidly; as of the end of 2023, EMITS has
for small-scale enterprises. By investing in the
installed 60 MW of solar photovoltaic capacity
prosperity and resilience of the communities
in Java, Bali, Sumatra, Kalimantan, Sulawesi,
where we operate, we aim to create shared value
and Maluku. Customers include commercial and
and contribute to inclusive growth.
industrial users as well as local utilities. EMITS
targets to install up to 500 MW of solar capacity
by 2025. As a one-stop shop for renewable
energy solutions, EMITS offers services ranging
from financing to design and engineering, to
construction, operations, and maintenance.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Nature-based solutions
Indika Nature protects and manages a
170,000-hectare site in East Kalimantan, home
to critically endangered wildlife like helmeted
hornbills (Rhinoplax vigil), Sunda pangolins
(Manis javanica) and trees like bangkirai (Hopea
ferruginea), a prized timber tree. By reclaiming
this forest landscape, we are striking a blow for the
climate, investing in a precious carbon sink that
we estimate will be able to offset nearly 835,000
tons of emissions annually — equivalent to taking
nearly 200,000 cars off the roads.
In 2023, Indika Nature completed construction
EV ecosystem of a biomass pellet mill, with an eye to exporting
Ilectra Motor Group (IMG) was founded in 2022 this carbon-neutral energy source to Japan. Also
as Indika Energy’s pioneering venture into the in 2023, Indika Nature acquired a stake in Natura
homegrown electric vehicle space, targeting Aromatik Nusantara, a producer, and the fourth-
the crucial segment of two-wheeled motor largest exporter of essential oils, based in Solo,
transportation. Following the launch of the Central Java. The acquisition strengthens Indika
ALVA One motorbike, one of the first locally Nature’s agroforestry portfolio by expanding into
designed and produced EV bikes in Indonesia, aromatic chemicals, essential oils, and natural
we introduced the ALVA Cervo and ALVA One extracts. Indika Nature continues to grow its
XP. Eighty-seven percent of all motor vehicles on business through its subsidiary Laras Ekosistem
Indonesia’s roads today are two-wheelers, which Organik by partnering with Slow Forest Coffee and
means that scaling up the transition to EVs must Krakakoa, a producer of sustainable, traditional-
emphasize bikes to have any meaningful impact. grown coffee and cocoa, leveraging agroforestry
And with a local manufacturing base supported expertise and social commitment to revolutionize
by local suppliers, we are also contributing to our regenerative farming systems. The actions will
Indonesia’s wider ambitions of being the next EV yield positive effects on the climate, biodiversity,
powerhouse. and profitability, thereby enabling us to contribute
to societal well-being and livelihoods.
Biomass: Nature’s renewable energy source, powering sustainable solutions for a greener tomorrow.
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P T I N D I K A E N E R GY T B K .
Minerals: Gold, nickel, bauxite IMPACT: Indika Energy Mangrove
Indika Energy is bringing its decades of mining Program in Action
expertise to bear in new ventures. We are Mangrove forests are incredibly effective carbon
investing heavily in gold mining via Masmindo’s sinks, more so than even tropical rainforests on
concession in South Sulawesi, with plans to start a hectare-by-hectare basis. These ecosystems
production as early as 2025. Another investment, sequester and store large quantities of carbon
in Mekko, is already yielding bauxite from a in both the plants and the soil below and are
mine in West Kalimantan, and we are currently therefore an essential piece of the solution to
building a smelter to process the ore into alumina. global climate change.
A third venture, Rockgeo, is our entry into nickel,
a key mineral in the clean-energy transition, Indonesia has the largest area of mangrove forests
positioning Indika Energy as a full-ecosystem of any country in the world. But in many parts of
player in the EV space. Indonesia, these important coastal ecosystems
are being lost due to various factors.
Indika Energy has long been committed to
Ayu Dewi Utari Secretary of Peatland and replanting and restoring mangroves in the areas
Mangrove Restoration Agency (BRGM) where we operate. To date, together with our
subsidiaries and partners, we have planted more
than 110,000 mangrove trees across Indonesia. To
“ SY N E R GY AND CO L L A B O R AT I O N AMONG THE
ensure the long-term viability of these plantings,
G OV E R N M E N T, P R I VAT E S E C TO R , AND CO M M U N I T Y
we also work with local communities to ensure
A R E N E C E S S A RY F O R M A N G R OV E R E S TO R AT I O N A N D
that the mangroves are properly cared for.
R E H A B I L I TAT I O N AC T I V I T I E S TO P R O C E E D S U S TA I N A B LY.
ONE OF THESE CO L L A B O R AT I O N S IS WITH INDIKA It is in this spirit that we initiated our flagship
E N E R GY THROUGH THE I M PAC T PROGRAM (INDIKA IMPACT program — Indika Energy Mangrove
E N E R GY M A N G R OV E P R O G R A M I N AC T I O N ) , W H E R E W E Program in Action — in 2023 as part of our longer-
CO N T I N U E TO D E V E LO P E N V I R O N M E N TA L CO N S E RVAT I O N term net zero target by 2050. Working with the
A N D F O R E S T RY P R E S E RVAT I O N I N I N D O N E S I A . T H I S WAY, government through the Peatland and Mangrove
T H E M A N G R OV E FO R E S T S C A N B E M A N AG E D BY T H E Restoration Agency (BRGM), we identify areas
CO M M U N I T Y A N D H O L D H I G H E CO N O M I C VA LU E .” and raise awareness for sustainable mangrove
rehabilitation. This three-year initiative is not
just about restoring mangroves, however; it’s
also about transforming communities, fostering
46,600+ TREES
environmental resilience, and championing
P L A N T E D A N D E X P E C T E D TO G R O W sustainable development — a holistic, people-
centric approach to ecosystem restoration and
2 VILLAGES community development. In 2023, we planted
more than 46,600 mangrove trees across 35.35
LO R I A N D S U N G A I L A N G I R
hectares, which is expected to sequester 573
BENEFITED FROM THIS PROGRAM
tonCo2eq annually.
1 GENUS (RHIZOPHORA) Ultimately, we hope to plant more than 275,000
mangrove trees across 250 hectares — a carbon
P L A N T E D A N D E X P E C T E D TO G R O W
sink that would hold the equivalent annual
573.3 TONCO2E emissions of 18,000 cars. In addition to their
climate importance, these mangroves will also
E X P E C T E D TO B E S E Q U E S T E R E D F R O M protect the coastline from erosion and tidal
4 6 , 6 0 0 M A N G R OV E T R E E S P L A N T E D I N surges, serve as a nursery for the marine species
T H E 20 2 3 I M PAC T P R O G R A M that local communities depend on for their
livelihood, and act as a filter preventing pollutants
1,988 TONCO2E entering the sea.
I N A D D I T I O N TO T H E I M PAC T P R O G R A M ,
W E H AV E A L S O P L A N T E D OV E R 1 6 2 ,0 0 0
35.35 HA
M A N G R OV E T R E E S , P OT E N T I A L LY
O F F S E T T I N G A N E S T I M AT E D 1 ,9 8 8 PLANTED AREA
TO N CO 2 E Q A N N U A L LY.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
⚫ Health infrastructure: Collaborating with
Canting Berkelanjutan: Save a local stakeholders to enhance health care
child, strengthen the community facilities and services, ensuring accessibility
Recognizing the imperative of nurturing a healthy and quality care for mothers and children.
and intellectually vibrant future generation, we
launched the Canting Berkelanjutan program in The Canting Berkelanjutan program fosters
March 2023 to combat childhood stunting in 14 collaboration among various stakeholders,
villages across Paser, East Kalimantan. including government agencies, community
health centers, and beneficiaries of existing
Stunting, a significant public health concern in health programs. Through collective efforts, the
Indonesia, not only affects physical growth but also program aims to amplify its impact and address
hampers cognitive development and increases the root causes of stunting comprehensively.
susceptibility to diseases among children. Despite
a national decline in stunting prevalence, regions By implementing tailored interventions and
like Paser and East Kalimantan more widely strengthening community engagement, Indika
witnessed a concerning rise in stunting rates from Energy and Kideco Jaya Agung aspire to achieve
2021 to 2022. sustainable reductions in stunting prevalence.
The program’s success will be measured not only
The program focuses on multifaceted by statistical indicators but also by the tangible
interventions, including: improvements in the health and well-being of
children and families in the targeted villages.
⚫ Cadre development: Enhancing the capacity
of health workers and community volunteers The program exemplifies a proactive corporate
to effectively communicate health-related approach to addressing pressing societal
information and interventions. challenges. By prioritizing health and community
empowerment, it signifies a crucial step toward
⚫ Nutritional support: Providing targeted
building a sustainable and inclusive future for
nutritional assistance to pregnant women,
Indonesia, where every child has the opportunity
lactating mothers, and young children to
to thrive and reach their full potential.
improve dietary diversity and adequacy.
300+ CADRES 250+ CHILDREN AND
PREGNANT MOTHERS
U P S K I L L I N G C A D R E S FO R H E A LT H
S E R V I C E S F R O M 7 8 CO M M U N I T Y H E A LT H I N - K I N D FO R C H I L D R E N U N D E R 2
CENTERS Y.O. A N D FO R P R E G N A N T M OT H E R S
T H R O U G H S U P P L E M E N TA RY F E E D I N G
600+ PEOPLE ( M U LT I V I TA M I N , M I L K , E G G S )
H E A LT H A N D S O C I A L C A M PA I G N TO 30+ PEOPLE
I M P R OV E CO M M U N I T Y AWA R E N E S S
( K E L A S S I AG A A N D P M BA ) H E A LT H A S S I S TA N C E A N D S U P P L E M E N T
FO R P R E G N A N T M OT H E R S
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P T I N D I K A E N E R GY T B K .
01.3
—
Engaging with Our Stakeholders
and Creating Value
Engaging our stakeholders in a meaningful, The stakeholders are identified in accordance
continuous, and transparent way is fundamental with the 2015 AA1000 Stakeholder Engagement
to ensuring we respond to the ESG risks and Standard. Based on this standard, the Company
opportunities most material to our company. We has identified its stakeholders into five attributes:
identify stakeholders relevant to our business [GRI 2-29]
depending on the impact we have on them
and they on us. This helps us engage with our 1. Dependency: Individuals or groups who
stakeholders in a manner that is purposeful and have direct or indirect dependence on the
effective. company’s activities
We foster dialogues at local, national, regional 2. Responsibility: Individuals or groups to which
and international levels through a range of the Company has legal, commercial, and/or
engagement activities, as well as participate in ethical responsibilities.
multi-stakeholder discussions. We acknowledge
3. Tension: Individuals or groups who
feedback and take it into our decision-making
need immediate attention from the
consideration. Through building constructive and
Company related to economic, social, and
transparent relationships with our stakeholders,
environmental issues.
we can strengthen our approach locally and
globally and improve our operating processes and 4. Influence: Individuals or groups who
performance. [GRI 2-26] influence the strategies and policies of the
Company or other stakeholders.
5. Diverse perspectives: Individuals or groups
who have different views that can influence
the situation and encourage action that was
not planned.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
AREAS OF
E N G AG E M E N T C O M M U N I C AT I O N S
S TA K E H O L D E R R E A S O N TO E N G AG E INTEREST DURING
METHOD FREQUENCY
2023
Our workforce and Through developing Health, safety, Occupational health Quarterly town hall
labor unions and building a cohesive and well-being and safety policies
workplace culture that and procedure Daily briefing
encourages our people Training,
compensation and Trainings, Biweekly publication
to focus on the same
goals, we can deliver our career opportunities socialization
strategic priorities.
Company culture Awareness
Our internal and reputation campaign
communications and
Negotiations
human capital program
of workplace
and our policy framework
agreements
are available to our
employees and contractors, Industrial relations
and other stakeholders. and potential
We uphold the right to site closures
freedom of association, to
unionize and to collective
representation, regardless
of location or duties. We
take an honest and open
approach to working with
labor unions and undertake
negotiations in good faith.
We uphold the right to
freedom of association, to
unionize and to collective
representation, regardless
of location or duties. We
take an honest and open
approach to working
with labor unions and
undertake negotiations
in good faith. We expect
our business partners to
share this commitment
and to leverage into our
business relationship.
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P T I N D I K A E N E R GY T B K .
AREAS OF
E N G AG E M E N T C O M M U N I C AT I O N S
S TA K E H O L D E R R E A S O N TO E N G AG E INTEREST DURING
METHOD FREQUENCY
2023
Governments We develop and maintain Tax and royalty Official meetings Annual report
constructive relationships payments
with national, regional, Joint program Annual sustainability
and local governments Ethics and report
compliance Performance
in the countries where
reporting Regular discussion
we operate and maintain
Local employment with related
regular dialogue on
and procurement government official
all relevant issues.
Operational
We do this through a
environmental
variety of means that
management,
best reflect local context.
including tailings
Engagement activities may
storage
be individually, collectively
with other companies or Climate change
organizations, or as part of
an industry association. Socio-economic
development
When dealing with
governments, we are Social transitioning
guided by our Code of
Transparency and
Conduct and Business
human rights
Ethics Policy, which does
not permit the use of Public health
our funds or resources
as contributions to any Security
political campaign,
political party, political
candidate or any such
affiliated organization.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
AREAS OF
E N G AG E M E N T C O M M U N I C AT I O N S
S TA K E H O L D E R R E A S O N TO E N G AG E INTEREST DURING
METHOD FREQUENCY
2023
Communities We build relationships Socio-economic Public consultation Annual report
with local communities development
and decision-making Community Annual sustainability
authorities. They meet Social transitioning programs report
and engage with the
Human rights Publication Regular discussion
communities living around
of reports with local
our industrial assets to Indigenous people communities
share information about Community forum
our activities that may Environmental
affect them, key risks, and management
control measures, and
Operational impacts
to help us understand
their views and address Potential industrial
any concerns raised. site closure
We adapt our approach to Tailings storage
reflect the operational and facilities
cultural environment and
engagement can include Security and its
open-house sessions, engagement with
formal engagements, face- civil society
to-face discussions, and
local grievance mechanisms
Non-governmental We engage with NGOs, Human rights Consultation Annual report
organizations (NGOs) think tanks and business
and civil society associations interested Social incidents Partnership Annual sustainability
in our activities. Topics of report
Public health
discussion include broad
policy issues with a global Operational and
or national reach, as well environmental
as local matters that affect management
the communities close
to our industrial assets. Closure of
operational sites
We welcome constructive
feedback on our activities, Socio-economic
and seek to engage with development
all our critics or, at the
Transparency
very least, respond to
in payments to
their concerns to increase
governments
our understanding
Security and
engagement with
civil society
Compliance with
laws and regulations
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P T I N D I K A E N E R GY T B K .
AREAS OF
E N G AG E M E N T C O M M U N I C AT I O N S
S TA K E H O L D E R R E A S O N TO E N G AG E INTEREST DURING
METHOD FREQUENCY
2023
Financial community We actively engage with Financial and Official meetings Annual report
and media our investors and financial operational
institutions through regular performance Joint program Annual sustainability
communication, one-on- report
Climate change Performance
one meetings, roadshows,
reporting Quarterly or ad hoc
and Q&A sessions. We
Compliance with press release
engage with the media at Public expose
laws and regulations
global, national, and local Quarterly company
levels on topics of public Presence in Media gathering updates
interest. Our approach is developing
one of transparency and countries
timely communications
to support fair disclosure Transparency
payments to
government
Industrial relations
Suppliers and We maintain good Responsible Occupational health Ad hoc meetings
customers relationships with our sourcing and supply and safety policies
suppliers and customers, and procedure Regular trainings
engaging regularly with Development of for safety
them to understand their industry standards Trainings,
views, expectations and socialization
Transparency in
perspectives. We undertake
the supply chain Awareness
risk-based due diligence on
campaign
our supply chain, both for Procurement
the goods and services we process
procure and the third-party
commodities we purchase. Human rights
We are active in many Compliance with
industry initiatives, where laws and regulations
we work to promote the
Product carbon
safe use and handling of
footprint
our products. We share
the specifications of our
products and any associated
risks with our customers.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
AREAS OF
E N G AG E M E N T C O M M U N I C AT I O N S
S TA K E H O L D E R R E A S O N TO E N G AG E INTEREST DURING
METHOD FREQUENCY
2023
Peer companies At both global and national Occupational Forum discussion Ad hoc meetings
levels, we engage with health and safety
other mining, trading Collaboration
and extractive companies Public health program
through various platforms.
Climate change
These initiatives provide an
opportunity to learn from Land management
best practice and to find and nature
industry-wide solutions
to common challenges. Industrial, site
closure and
At an operational level, water security
we often work with other
multinational and domestic Engagement with
mining companies through civil society
nationally run chambers
Development of
of commerce to deliver
industry standards
an industry-consistent
voice during engagement
on industry topics.
Media and analyst tour of the ALVA manufacturing plant, where journalists and analysts were given firsthand
insights into the advanced technology and eco-conscious practices driving the production process.
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P T I N D I K A E N E R GY T B K .
01.4
—
Our Sustainability Approach
and Strategy [GRI 2-22]
W E AC C E L E R AT E S U S TA I N A B I L I T Y T R A N S FO R M AT I O N
A N D A I M TO C A P T U R E T H E F U L L B U S I N E S S VA LU E O F S U S TA I N A B I L I T Y
As one of Indonesia’s leading investment financial metrics, as we firmly believe in our
companies with diversified businesses, we responsibility to deliver tangible value and
combine the knowledge generated by our impactful outcomes for our stakeholders,
strength in the energy sector to position the underpinned by transparency,
Indika Energy Group for a just and sustainable measurability, and credibility.
journey towards a low carbon economy, in line
with Indonesia’s energy transition and economic Indika Energy has set sustainability targets
development. covering most ESG topics, and we are
implementing several actions to drive
We accelerate sustainability transformation the targets and structure our approach to
and aim to capture the full business value of sustainability through a three-pronged
sustainability. approach:
Our bold commitment towards net zero took 1. Investing in non-coal industries. As part
shape in 2021, when Indika Energy committed to of our wider energy transition, Indika
increasing the share of our non-coal revenue to Energy is diversifying and investing in
at least 50% by 2025, and to achieving net-zero sectors ranging from renewable energy
greenhouse gas emissions by 2050 or sooner. This and nature-based solutions to electric
pivotal year also witnessed the establishment of vehicles (EV) and EV infrastructure.
a baseline for aligning Indonesia’s Sustainable
Development Goals (SDGs) with Indika Energy’s 2. Decarbonization of operations.
mission of empowering Indonesia towards a Minimizing our carbon footprint is an
sustainable future. important part of our strategic focus
and our wider target of achieving net-
At the heart of our operations lies a steadfast zero emissions, and in turn contributes
dedication to sustainability. We hold ourselves to Indonesia’s greater decarbonization
accountable to the same rigorous standards commitments as a nation.
for measuring our Environmental, Social, and
Governance (ESG) performance as we do for our
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
3. Divesting from high-carbon industries. The Furthermore, in 2023 we initiated our first exercise
corollary to diversifying our portfolio is that on calculating our baseline scope 3 emissions
we must also reduce our exposure to high- footprint.
carbon businesses in our portfolio. We see
this as a necessary part of our long-term
vision to achieve our sustainability goals and
Sustainability framework
contribute to a better planet for all. At the heart of Indika Energy’s ESG commitment
is the confluence of our corporate strategy, values,
and sustainability practices. To be a sustainable
Reassessing ESG targets business is to be sustainable in every sense: in our
We continued to track and assess ESG metrics use of resources, in our relations with employees,
applicable to Indika Energy’s sustainability goals, communities and other stakeholders, and in our
and revisited targets for a balance between impact on society and the planet.
ambitious and realistic.
In 2023, we reassessed our existing ESG strategy,
expanded our data boundaries including our new
business units and ventures, and came up with
even more ambitious ESG targets that will have
a more meaningful impact. We also identified
decarbonization initiatives for scope 1 and 2 across
the Group’s, sequencing it into a roadmap in line
with Indonesia’s and Indika Energy’s aspirations.
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P T I N D I K A E N E R GY T B K .
OUR PURPOSE
Energizing Indonesia for a sustainable future
OUR VISION OUR MISSION
Highly trusted, innovative and enduring business partner — To develop Indonesia in a sustainable way
for sustainable value creation — To be a robust diversified investment company
— To empower our people and actively develop next generation leaders
— To be socially responsible, embracing diversity and acting with integrity
— To create exceptional value for all our stakeholders
UNITY IN DIVERSITY INTEGRITY TEAMWORK OUR VALUES AGILITY ACHIEVEMENT SOCIAL RESPONSIBILITY
CORPORATE STRATEGY
Investment in the non-coal sector Decarbonization in the company’s operational activities Divestment of high carbon portfolio
MATERIAL TOPICS
Internal and external materiality assessment process to identify material topics
Material topics are the focus of our sustainability strategy review and reporting
2025 & 2030 ESG TARGETS
ENVIRONMENT SOCIAL GOVERNANCE
SCOPE 1 AND 2 EMISSIONS LOCAL COMMUNITIES BUSINESS ETHICS
(Relative to 2020 baseline)
25% 33% 1% 80% 100%
Reduce scope 1 and 2 Reduce scope 1 and 2 1% EBIT spent on community development 80% of employees attend 100% of employees to
emissions by 25% in 2025 emissions by 33% in 2030 every year code of business conduct attend code of business
training by 2025 conduct training by 2030
50% 55% HEALTH AND SAFETY
Reduce scope 1 and 2 Reduce scope 1 and 2 100% 100%
emissions intensity per emissions intensity per 100% of board members 100% of board members
revenue by 50% in 2025 revenue by 55% in 2030 Zero to attend code of business to attend code of business
Zero fatalities every year for employees and conduct training by 2025 conduct training by 2030
10% 25% contractors
Reduce scope 1 and 2 Reduce scope 1 and 2
emissions intensity per emissions intensity per DIVERSITY AND INCLUSION CORPORATE GOVERNANCE
ton coal production by ton coal production by
10% in 2025 25% in 2030
20% 25% 30%
20% women in workforce 25% women in workforce 30% (by weight) of board
ENERGY MANAGEMENT by 2025 by 2030 & senior management
(Relative to 2020 baseline)
evaluation KPIs tied to
30% 35% 15% 20% ESG topics by 2025
Increase % RE share in the Increase % RE share in the 15% women in senior 20% women in senior
energy consumption mix energy consumption mix management by 2025 management by 2030
to 30% by 2025 to 35% by 2030
WATER MANAGEMENT
(Relative to 2020 baseline)
30% 32%
Reduce water withdrawal Reduce water withdrawal
intensity per revenue by intensity per revenue by
30% by 2025 32% by 2030
WASTE MANAGEMENT
(Relative to 2020 baseline)
40% 45%
Divert 40% of waste from Divert 45% of waste from
landfill by 2025 landfill by 2030
LAND AND BIODIVERSITY
(Relative to 2020 baseline)
20%
Increase land reclamation
area by 20% by 2025
COMPLIANCE SUSTAINABILITY COMMITTEE
Policies, Standards, Procedures, Guidelines Has oversight and ultimate responsibility.
Metrics, Reporting and Assurance It receives regular updates of how our business is performing
across all our operations, sustainability related material risk areas.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
01.5
—
Risk and Mitigation
[GRI 2-16, 313-2]
T H E E N V I R O N M E N TA L , S O C I A L A N D G OV E R N A N C E A S P E C T S O F O U R S U S TA I N A B I L I T Y P R I N C I P L E S
COV E R A R A N G E O F R I S K S T H AT W E W O R K TO M I T I G AT E AG A I N S T. I T I S T H E S E R I S K S , A N D H O W
W E A S S E S S A N D A D D R E S S T H E M , T H AT I N FO R M O U R S U S TA I N A B I L I T Y S T R AT E GY, A N D T H U S
O U R O P E R AT I O N A L F O C U S .
Climate impacts pose another set of risks to
Indika Energy’s business sustainability. As science
continues to improve our understanding of what
these impacts will look like across different
timeframes and under different emissions
scenarios, there is general consensus that weather
extremes (such as drought, heat waves, flooding,
storms, forest fires, storm surges, among others)
are likely to increase in frequency and intensity.
This could potentially disrupt our operational and/
or distribution activities, or impact suppliers and/
or customers, which would then have a knock-on
effect on our own finances. But while the potential
risks abound, there is an opportunity in that these
impacts could spur public urgency for greater
emissions reductions, fuel switching, solar panels,
and a swifter transition to clean energy. This
would boost the green and low-carbon industries
into which we are currently diversifying. [GRI 201-
2]
The environmental, social and governance aspects
of our sustainability principles cover a range of
risks that we work to mitigate against. It is these
risks, and how we assess and address them, that Amidst the scorching heat of East Nusa Tenggara, the communities in Boen
inform our sustainability strategy, and thus our Village united to construct solar-powered water pumps, laying pipes across
operational focus. an impressive distance of 3 kilometers to improve access to clean water.
43
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P T I N D I K A E N E R GY T B K .
Risks and critical
Potential impacts Mitigation actions Targets
concerns
Risks related Physical risks: Including Implement environmental Comply with the
to emissions extreme heat, drought, management systems and Indika Energy
and energy and water access as well as comply with prevailing Sustainability Policy and
consumption acute risks like wildfires, environmental regulations Environmental Policy
[GRI 201-2] hurricanes, and flooding
Invest in research & Improve energy
Employees and community development, as well efficiency and reduce
members getting as technologies to emissions by investing in
injured or falling sick support efficient and renewable energy, low-
environmentally friendly carbon technologies and
Disruptions to supply operational activities decarbonization efforts
chain, transport and
distribution networks Monitor and report Integrate these transition
emissions and energy risks into regular risk
Damage to assets, which performance data assessments and report
may reduce productivity, to the Sustainability these risks to the highest
increase costs, and delay Committee quarterly governance body
project schedules
Identify transition risks
Regulatory risks: Changes related to climate change
in policies and regulations,
especially those related to Commit to manage
carbon pricing and reporting regulatory, market,
and reputational risks
Market risks: Changes in of climate change
consumer behavior, uncertainty
through market signals
Reputational risks:
Stigmatization of the sector,
shifts in consumer preferences,
increased stakeholder concern
Water stress Lack of available water Identify water risks Comply with the
for operations and the and mitigation plans Indika Energy
local communities. Sustainability Policy and
Monitor data related Environmental Policy
Increased charges to to water management
access water, resulting in quarterly, which are Protect the water sources
higher production costs then reported during in our operational areas
the Sustainability and improve processes to
Committee meetings reduce water withdrawal
and consumption
Ensure compliance
with national and local
regulations related
to water discharge
and effluents
44
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Risks and critical
Potential impacts Mitigation actions Targets
concerns
Waste-related Potential threat of marine Identify waste-related Comply with the
hazards pollution resulting from risks and mitigation plans Indika Energy
leakage of discarded plastic Sustainability Policy and
packaging into water bodies Monitor and report Environmental Policy
data related to waste
Soil contamination generation and Minimize the amount
management quarterly of waste generated
Public health hazards to the Sustainability and maximize the
Committee amount of waste
recycled and reused
Ensure compliance
with national and local
regulations related
to waste disposal
and management
Biodiversity Reduction of species, especially Conduct biodiversity Comply with the
loss and land those that are included in monitoring and risk Indika Energy
degradation the IUCN Red List and the assessments regularly Sustainability Policy and
National Conservation List Environmental Policy
Monitor and report data
related to biodiversity and Proactively plan
land use quarterly to the for closure and
Sustainability Committee rehabilitation in the
areas we operate in
Conduct impact
mitigation measures and
conserve the habitats
of endangered species
Resource depletion Increased competition for, Diversify business to Comply with the
and the regulation of limited renewable energy, Indika Energy
resources, thus affecting gold mining, nature- Sustainability Policy and
our productivity and costs based solutions, and Environmental Policy
technology sectors
Uncertainty regarding Proactively plan
where the income of the Rehabilitation and land for closure and
business will come from reclamation initiatives rehabilitation in the
in the upcoming years areas we operate in
45
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P T I N D I K A E N E R GY T B K .
Risks and critical
Potential impacts Mitigation actions Targets
concerns
Health and The higher the complexity of Implement digitalization Comply with the Indika
safety hazards energy projects, the higher and visualization Energy Sustainability
the associated safety risks technologies to make Policy and Health
operational activities & Safety Policy
safer and more efficient
Implement health and
Conduct regular safety management
occupational health and systems and comply
safety training programs with regulations
for all workers and OHS and standards.
audits to identify points
of improvement Maintain zero fatalities
and zero lost-time
Monitor and report health injuries every year
and safety performance
data to Sustainability
Committee quarterly
Community Protests by local communities, Actively recruit Comply with the
relations e.g. due to lack of local and promote high- Indika Energy
employment opportunities performance local Hires Sustainability Policy
or disruptions due to
operational activities, leading Community development Implement health and
to the possibility of losing our programs related to safety management
social license to operate education, health, systems and comply
environment and with regulations
empowerment to and standards
enhance livelihood and
community welfare Maintain zero fatalities
and zero lost-time
Accommodate and injuries every year
record complaints and
feedback from the Engage regularly with
community through our our local communities
Whistleblowing System to ensure all their
needs are fulfilled and
Monitor and report concerns addressed
community relations
performance data
to Sustainability
committee quarterly
46
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Risks and critical
Potential impacts Mitigation actions Targets
concerns
Health and safety Protests by local communities, Develop and implement Comply with the
protection for e.g. due to lack of company’s OHS management and Indika Energy
the community initiative to create safe security based on the Sustainability Policy
and healthy workplace company’s enterprise risk
conditions leading to the management principles Adopt programs in
possibility of losing our line with the UN
social license to operate Manage the company’s Declaration of Human
security system to Rights [GRI 2-23]
create safe and healthy
workplace conditions Recognize and respect
indigenous peoples’
Conduct assessments relationship with
to identify areas of land, water, and the
improvement in our Environment
security personnel and
provide training related
to the importance of
respecting human
rights. [GRI 410-1]
Employee Low productivity leading to Provide fair and merit- Comply with the
dissatisfaction lower revenues and profits based compensation Indika Energy
as well as benefits Sustainability Policy
High employee turnover
causing high costs to hire Provide training and Promote a healthy,
and train new employees development programs safe, and respectful
to help employees working Environment
advance their careers
Foster an environment
Monitor and report that supports and
human capital data, encourages different
including gender backgrounds,
equality and training cultures, beliefs
parameters, to
Sustainability
Committee quarterly.
Bribery and Financial damage Implement Anti-Bribery Comply with the
corruption due to legal fines Management Systems Indika Energy
ISO 37001:2016 Sustainability Policy
Reputational damage and loss and the Anti-Bribery
of trust from Stakeholders Conduct regular training & Corruption Policy
and refresher sessions
Decrease in employee about anti-bribery Prohibit any form of
productivity due to loss of trust management systems bribery and corruption
for employees and conduct business
in an ethical manner
Comply with
requirements set out
in ISO 37001:2016
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P T I N D I K A E N E R GY T B K .
Risks and critical
Potential impacts Mitigation actions Targets
concerns
Cyber security attacks Theft of funds as well as Launch a cyber security Implement Information
corporate and financial training program among Security Management
Information employees to cover topics Systems ISO 27001:2013
such as email phishing and
Operational disruptions correct classification and Conduct regular training
and reputational damage handling of information for all employees to
raise awareness on
Regularly update the prevention of
security of IT systems cybersecurity attack
and infrastructure and
back up important data
Decrease in revenue Lower revenues and profits Set a target for the Achieve medium-term
due to commodity majority of revenue to target 50% non-coal
price volatility Low productivity of come from non-coal revenue by 2025
assets and employees businesses by 2025
Inability to repay debt Diversify and enter
businesses other than coal
Challenges to access Inability to receive funding Set a target for the Achieve medium-term
capital or funding due to increased pressures majority of revenue to target 50% non-coal
[GRI 201-2] from global investors come from non-coal revenue by 2025
demanding responsible businesses by 2025
deployment of capital
Diversify and enter
businesses other than coal
Pledge commitment to
ESG and take actions to
mitigate ESG-related risks
48
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Participation in external initiatives and memberships [GRI 2-28]
Our business operations are based on trust. For that reason, we provide our stakeholders with meaningful information
about our business in the public domain. Our approach to transparency is strongly grounded in our transparency
principles of responsibility, openness, fairness, and accountability.
We participate in a wide range of external initiatives, including global, national and regional organizations. Our
participation supports our commitment to ongoing improvement in our approach and performance. Our activities in
these organizations vary, ranging from reporting our progress to taking a role in driving strategic change. A number of
external organizations assess and publicly report on our performance.
The forums and organizations in which we participate include:
United Nations Global Compact (UNGC)
Indonesia Global Compact Network (IGCN)
Indonesia Business Council for Sustainable Development (IBCSD)
World Economic Forum (WEF)
Powering Past Coal Alliance (PPCA)
Indonesian Renewable Energy Society - Masyarakat
Energi Terbarukan Indonesia (METI)
Indonesian Chambers of Commerce and Industry -
Kamar Dagang dan Industri (KADIN)
Indonesian Listed Companies Association - Asosiasi Emiten Indonesia (AEI)
Indonesian Employers Association - Asosiasi Pengusaha Indonesia (APINDO)
Indonesian Coal Mining Association - Asosiasi
Pertambangan Batubara Indonesia (APBI-ICMA)
Indonesian Mining Association - Asosiasi Pertambangan Indonesia (API-IMA)
Indonesian Contractors Association - Asosiasi Kontraktor Indonesia (AKI)
Indonesian Electrification Society - Masyarakat Ketenagalistrikan Indonesia (MKI)
49
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
01.6
—
Sustainability Governance
O U R P O RT F O L I O A L I G N S W I T H O U R P U R P O S E , E N E R G I Z I N G I N D O N E S I A FO R A S U S TA I N A B L E
F U T U R E , R E S P O N S I B LY S O U R C I N G E N E R GY T H AT A DVA N C E S E V E RY DAY L I F E A N D E N A B L I N G
T H E T R A N S I T I O N TO A LO W- C A R B O N E CO N O M Y, W H I L E M E E T I N G S O C I E T Y ’ S E N E R GY N E E D S A S
I T P R O G R E S S E S T H R O U G H T H E T R A N S I T I O N . [G R I 2- 22 ]
For Indika Energy, good corporate governance BOARD OF
COMMISSIONERS
(GCG) means complying with the prevailing
AND DIRECTORS
laws and regulations, mitigating against and 0.27%
managing current and potential risks, and PT TELADAN
RESOURCES
strengthening engagement with stakeholders
28.08%
across the spectrum. As a member of society, PUBLIC
we recognize that we do not operate in isolation 33.72%
and that it is important to collaborate with other
stakeholders to generate positive impacts on
society. Above all, implementing GCG means we
operate transparently, accountably, responsibly,
independently, and fairly at all times.
TREASURY STOCK
Our portfolio aligns with our purpose, Energizing PT INDIKA INTI 0.14%
Indonesia for a Sustainable Future, responsibly INVESTINDO
37.79%
sourcing energy that advances everyday life and
enabling the transition to a low-carbon economy,
while meeting society’s energy needs as it
progresses through the transition. [GRI 2-22]
51
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P T I N D I K A E N E R GY T B K .
Corporate structure
100% 100% 50% 100%
PT Indika Inti Corpindo PT Tripatra Multi Energi PT Indika Tenaga Baru PT Indika Energy Infrastructure
50%
(Indonesia) (Indonesia) (Indonesia) (Indonesia)
Investasi& perdagangan umum Perdagangan umum Manajemen konsultasi Perdagangan, pembangunan, dan jasa
Investment and general trading General trading Management consultation Trading, development and services
51%
100%
51%
40%
2%
PT Kideco Jaya Agung PT Tripatra Engineering PT Empat Mitra
(Indonesia) (Indonesia) Indika Tenaga Surya
98% (Indonesia) PT Interport Mandiri Utama
(Indonesia)
Eksplorasi, pengembangan, Jasa konsultasi
pertambangan, dan pemasaran Jasa konsultasi untuk bidang-bidang Consultation services
batubara konstruksi, industri & infrastruktur Jasa manajemen dan perdagangan
Exploration, development, Consultation services for Management services and trading
100%
mining and marketing of coal construction, industry and
49%
PT Sumber Multi PT Empat Mitra
infrastructure Energi Penajam Indika Cahaya
(Indonesia) (Indonesia)
PT Indika Indonesia PT POSB Reksabumi
100%
6%
Resources Perdagangan umum Perdagangan umum Indonesia
49%
94%
(Indonesia) PT Tripatra Engineers and General trading General trading (Indonesia)
Constructors (Indonesia)
51%
100%
100%
Pertambangan dan Pengelolaan limbah
PT Indika Empat PT Empat Mitra
perdagangan Mitra Surya Indika Mentari berbahaya
Jasa konsultasi, konstruksi, bisnis,
Mining and trading (Indonesia) (Indonesia) Hazardous waste
perdagangan & industri
Provision of consultancy management
Perdagangan umum Perdagangan umum
services, construction
60%
PT Mitra Energi Agung General trading General trading
business & trading
(Indonesia)
100%
PT Indika Multi Niaga
(Indonesia)
46%
PT Sea Bridge Shipping
Pertambangan batubara (Indonesia) 100% 100% 100%
Coal mining
PT Indika Multi Indika Power Jasa pengurusan
PT Indika Infrastruktur
Pengangkutan barang Energi Internasional Investments Pte. Ltd.
Investindo (Indonesia) transportasi, perdagangan
domestik (Indonesia) (Singapore)
Indika Capital dan jasa lainnya
Investments Pte.Ltd. Domestic goods shipment Transportation
Perdagangan umum Investasi Investasi management
(Singapore)
General trading Investment Investment services, trading and other
100%
100%
Perdagangan batubara dan Tripatra (Singapore) services
mineral serta Pte.Ltd. (Singapore)
perdagangan umum 25% 100%
Coal and mineral
Investasi PT Prasarana Energi PT Cirebon
trading and general
Investment Indonesia Electric Power PT Mitra Baruna
trading activities
(Indonesia) 5% (Indonesia) 15% Nusantara
15% (Indonesia)
100%
Tripatra Perdagangan umum
PT Multi Tambang Pembangkit Listrik
Investments General trading Stevedoring
jaya Utama (Indonesia) Limited (B.V.I.) Tenaga Uap
Coal Fired Power Plant Stevedoring
85%
Pertambangan batubara Investasi
100%
Coal mining Investment 100% PT Interport
Mandiri Abadi
PT Prasarana Energi PT Cirebon Power (Indonesia)
Indika Energy
60%
PT Kuala Pelabuhan
Trading Pte.Ltd. Indonesia
Cirebon (Indonesia) 5% Service (Indonesia) 15%
5%
(Singapore) Jasa manajemen
(Indonesia)
Perdagangan umum transportasi
Perdagangan Pengoperasian dan Transportation
90%
Pengelolaan General trading
Trading pemeliharaan fasilitas dan management
Pelabuhan
alat-alat listrik services
Port Operations
Operations and
10%
PT Indika Energy Maintenance of electrical
25% PT Kariangau
100%
Trading (Indonesia) equipment and Gapura Terminal
PT Cirebon Energi facilities Energi
Perdagangan (Indonesia)
Prasarana (Indonesia)
Trading
Pengelolaan
pelabuhan khusus
99.92%
Pembangkit Listrik Tenaga
99.99%
PT Citra Indah Prima Indika Capital Pte. Ltd. Uap (PLTU) Specific port
(Indonesia) (Singapore) management
Coal-fired power plant
Investasi
Pemasaran & Investasi
Investment PT Jatim Gapura
100%
Marketing and investment
Terminal Energi
(Indonesia)
43.3%
PT Intan Resource
Indika Capital
100%
(Indonesia)
Resources Pengelolaan
Perdagangan batubara Limited (B.V.I) pelabuhan khusus
dan konsultasi Specific port
pertambangan Pembiayaan management
Coal trading and Financing
mining consultancy
Sumber Daya Energi | Energy Resources Jasa Energi | Energy Services Infrastruktur Energi | Energy Infrastructure
52
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
PT Indika Energy Tbk.
(Indonesia)
100%
100%
PT Solusi Mobilitas PT Indika Medika PT Indy Properti
100%
PT Indika Mineral PT Indika Multi Nusantara Indonesia
100%
Investindo Properti Indonesia
(Indonesia) (Indonesia) (Indonesia)
(Indonesia) (Indonesia)
Pembangunan, jasa
100%
Investasi Konstruksi, real estate dan Industri motor, Industri alat kesehatan
perdagangan perdagangan dan jasa dan perdagangan
Investment dan obat farmasi
Constructions, real Motor industry, general Development,
Medical and
estate and trading trading and services services and trading
pharmaceutical industry
PT Jaya Bumi Paser PT Ilectra Motor
99.0%
50%
100%
(Indonesia) Group
100%
100%
Nusantara Resources (Indonesia) Indika Energy
Ltd. PT Bioneer Indika
Pengusahaan hutan Group (Indonesia) Capital Pte. Ltd.
(Australia) Forest concessionaries Industri motor (Singapore)
perdagangan dan
jasa Distributor alat Kesehatan Pembiayaan
75.0%
Investasi PT Diva Perdana
Motor industry, dan obat farmasi Financing
Investment Pesona (Indonesia)
general trading and Medical and
services pharmaceutical
Pengusahaan hutan
distributor
Forest concessionaries Indika Energy
100%
100%
100%
PT Pusat Sarana Baruna Capital III Pte.Ltd.
Salu Siwa Pty. Ltd.
100%
(Indonesia) PT Electra Mobilitas PT Bioneer Indika (Singapore)
96.0%
(Australia) PT Telaga Mas Indonesia Diagnostik
Kalimantan
100%
(Indonesia) (Indonesia)
Pengelolaan pelabuhan (Indonesia) Pembiayaan
Investasi Distributor alat Financing
khusus Pabrik sepeda motor
Investment Pengusahaan hutan Kesehatan dan
Specific port management Motorcycle
100%
75.0% Forest concessionaries manufacturing obat farmasi
Medical and
25.0%
pharmaceutical Indika Energy
80.0%
PT Masmindo PT Trisetia Capital I Pte.Ltd.
100%
distributor
100%
PT Elang Mas Dwi Area Citagraha PT Electra Distribusi (Singapore)
Andalan (Indonesia) (Indonesia) Indonesia (Indonesia)
(Indonesia)
Pertambangan PT Indika Digital Pembiayaan
Pengusahaan hutan Teknologi (Indonesia)
emas Forest concessionaries Financing
Perdagangan besar sepeda
Jasa bongkar muat Gold mining
motor Jasa teknologi digital
Loading/unloading
Dealership motorcycle
46.0%
services PT Natura Aromatik Digital technology
PT Rockgeo Nusantara services
100%
Energi Nusantara (Indonesia)
(Indonesia)
100%
PT Electra Auto PT Zebra Cross
30.0%
PT Mitra Samudra
100%
Industri minyak atsiri Indonesia Teknologi
Indonesia Perdagangan bijih (Indonesia) (Indonesia)
(Indonesia) Forest Essential oil
mineral industry
Mineral ore trading Jasa teknologi
Perdagangan eceran digital
Investasi PT Laras Ekosistem sepeda motor Digital technology
100%
Investment PT Perkasa Organik (Indonesia) Dealership services
100%
Investama Mineral Motorcycle
(Indonesia) Konsultasi
manajemen dan
PT Xapiens
100%
Teknologi
perdagangan besar
100%
PT Indika Logistic & Indonesia
100%
Perdagangan bijih Management PT Mitra Motor (Indonesia)
Support Services mineral Group (Indonesia)
(Indonesia) consultation and
Mineral ore trading wholesale trading Jasa teknologi
Industri kendaraan bermotor digital
Pengelolaan PT Kalista Nusa perdangaan dan jasa Digital technology
100%
100%
pelabuhan khusus PT Mekko Metal Armada (Indonesia) Vehicle industry, general services
Port operation Mining trading and services
Sewa, perdagangan Indika Ventures
(Indonesia)
100%
EV dan stasiun Pte.Ltd.
PT Foxconn Indika
penukaran baterai Motor (Indonesia) (Singapore)
Tambang bauksit
60%
100%
PT Interport EV rental, trading
Bauxite mining Manufaktur kendaraan
Patimban Agung and battery Jasa teknologi
(Indonesia) 30% swapping station roda 4 digital
4 wheels manufacturing Digital technology
PT Perkasa PT Kalista Rotom Orbita
65%
services
Alumina (Indonesia) PT Energi Makmur
51%
100%
Pengelolaan pelabuhan Indonesia Buana (Indonesia) 22.5%
Sewa dan perdagangan
Port operation (Indonesia) Distributor kendaraan
sepeda motor listrik
roda 4 PT Narada
Smelter EV business rental
4 wheelers vehicle Sahara
Smelter and trading Kencana
distribution
54.8%
(Indonesia)
PT Cotrans Asia PT Kalista Soter PT Industri
100%
Hastia (Indonesia) Baterai Nusantara
100%
(Indonesia)
Sewa dan perdagangan (Indonesia) Jasa teknologi
kendaraan listrik roda 4 Manufaktur baterai EV digital
Jasa pengangkutan dan EV business rental Digital technology
EV battery
pengiriman batubara and trading services
manufacture
Coal transportation and
transhipment PT Kalista Nayara PT Manufaktur
100%
100%
service Dayautama (Indonesia) Teknologi
Baterai (Indonesia)
Penjualan tenaga
Manufaktur baterai EV
listrik dan instalasi
EV battery
EV electricity sales
manufacture
and electric supply
installations
Mineral | Minerals Bisnis Hijau | Green Business PorfolioLain | Other Portfolio
53
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P T I N D I K A E N E R GY T B K .
In addition, we also implement management
Sustainability Committee systems and adhere to international certification
In 2023, our Sustainability Committee set standards to ensure that our business conduct
the strategic direction for our sustainability aligns with existing best practices.
activities and oversaw the development and
implementation of our strategic health, safety, ISO 9001 Quality
environment, community, human rights, Management System
and other sustainability issues. Our policies
support the delivery of our values and Code of
ISO 14001 Environmental
Conduct, which together detail the behavior
Management System
and performance expectations for all assets and
offices where we have operational control.
ISO 37001 Anti-Bribery
Management System
Policy commitments
We continued to make progress on our low-
carbon transition and refreshed and developed ISO 45001 Occupational
our policies on sustainability, health and safety, Health and Safety
environmental, anti-bribery, communications,
and their supporting standards, which will
ISO 50001 Energy
strengthen our governance for overseeing the
Management System
implementation of these targets.
We tracked implementation progress quarterly ISO 21500 Project
through Sustainability Committee meetings, and Management System
regular discussions, including at working level,
for gap analysis on each ESG aspect and ESG
ISO 50001 Energy
performance toward the 2025 and 2030 target.
Management System
ISO 27001 Information
Security Management
System
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
01.7
—
Our External Commitments
Advancing the Sustainable Development Goals (SDGs)
At Indika Energy, we use the United Nations’ Sustainable Development Goals (SDGs) to align our efforts to
global targets, as well as measure how our company and ecosystem contribute to resolving society’s most
pressing challenges. In ensuring the impact we have is measurable, accurate and relevant, we have mapped
Indika Energy’s approach and management of our material ESG issues with the relevant SDGs and the
corresponding reporting standard disclosures (GRI for this reporting period).
The preparation and
execution of the Solar
Chapter’s Water for
Boen project have
been completed. Now,
their dedication has
yielded results as the
community can easily
access clean water.
55
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P T I N D I K A E N E R GY T B K .
SDG targets GRI Disclosure Our approach and key initiatives in 2023
ENVIRONMENT SDG 6 GRI 303-2 We are committed to managing our effluents
Clean water and and wastewater properly to ensure that the
sanitation GRI 303-3 water we put back into the ecosystem is at
least as clean as when we took it out.
Target: GRI 303-4
6.6 We source the water we use for our operations
GRI 303-5
from the water we have recycled. We
also implement various water efficiency
programs and meticulously monitor and
report our water treatment processes
monthly, ensuring compliance with
acceptable standards of water quality.
SDG 14 GRI 304-2 We comply responsibly with environmental
Life below water standards, aim to look beyond these standards
and to implement approaches to achieve
Target: sustainable growth without negatively affecting
14.2 the oceans, seas, and aquatic ecosystems.
SDG 7 GRI 302 - 1 Transitioning to clean and affordable energy
Affordable and is more of a necessity now than ever before.
clean energy Since 2021, our subsidiaries have used solar
energy in their operation sites. We also set up
Target: a solar photovoltaic-powered pump system
7.2 in Boen Village, harnessing the abundant
7.3 sunlight in this region of eastern Indonesia,
to provide piped water to the community.
In 2023 and beyond, we plan to further scale
the use of renewable energy across our offices,
operation sites and other workplaces.
SDG 12 GRI 306-3 In addition to sustainable management
Responsible and efficient use of natural resources,
consumption and GRI 306-4 Indika Energy also strives for waste
production reduction, reuse, and recycling.
Target: In 2023, we increased by 6.84% the amount
12.2 of waste diverted from disposal compared to
12.4 the previous year. This can be attributed to the
12.5 various waste management activities done by
our subsidiaries, ranging from tyre retreading
to the use of waste oil for blasting activities.
SDG 13 GRI 2-22 In 2023, Indika Energy actively participated
Climate action in COP28, ASEAN Business Advisory Council
GRI 2-23 (ASEAN-BAC), and the World Economic Forum
Target: (WEF). Through these endeavors, Indika
13.2 Energy offered its perspectives on Indonesia’s
13.3 green energy transition that could help shape
national policy, strategy, and planning.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
SDG targets GRI Disclosure Our approach and key initiatives in 2023
SDG 15 GRI 304-1 Indika Energy entered the nature-based
Life on land solutions sector through Indika Nature,
GRI 304-2 which manages 170,000 hectares of
Target: forest concessions sustainably.
15.2 GRI 304-3
15.5 Through Kideco, Indika Energy has also been
GRI 304-4
putting its focus on sustainable reclamation
and biodiversity protection in the Tandarayan
Arboretum conservation area, home to rare
and threatened wildlife native to Borneo.
SOCIAL SDG 3 GRI 403-1 Ensuring healthy lives and promoting
Good Health and well-being at all ages are essential
Well-being to sustainable development.
SDG 4 GRI 413-2 Indika Energy contributes to ensuring inclusive
Quality education and equitable quality education for all by
GRI 203-1 providing scholarships through the Indika
Target: Energy Cerdaskan Anak Bangsa program.
4.1
4.4 Furthermore, as part of our community
development, we hold various vocational
training programs to help local communities
near our operational sites gain the skills
necessary to achieve financial independence.
SDG 5 GRI 401-3 At Indika Energy, we support women by
Gender equality implementing equal opportunities, pay
GRI 405-1 and benefits for work of equal value,
Target: promoting work-family balance, and fostering
5.5 GRI 405-2
women’s representation in business and
management at all levels, particularly
in middle and senior management.
SDG 8 GRI 407-1 Indika Energy combats all forms of forced and
Decent work and child labor in accordance with the standards set
economic growth GRI 408-1 by the International Labour Organization (ILO)
and local regulations across all locations of our
Target: GRI 409-1
operations. We respect the dignity and human
8.5 rights of our workforce, business partners,
GRI 410-1
8.8 societies in which we live and work, and others
GRI 2-25 potentially affected by our activities. We expect
our business partners to share our commitment
GRI 2-30
to human rights and we leverage our business
relationships to advance human rights.
For further details, please see our Human
Rights policy at https://www.indikaenergy.
co.id/governance/gcg-updates/
All of our employees are provided with safe and
secure working environments, under which all
their rights and obligations under Collective
Bargaining Agreements are protected.
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P T I N D I K A E N E R GY T B K .
SDG targets GRI Disclosure Our approach and key initiatives in 2023
SDG 10 GRI 2-22 In 2023, Indika Energy provided living
Reduced inequalities income opportunities for 3,579 employees.
Our pay is based on thorough and objective
Target: benchmarks and market insights, therefore
10.1 we ensure that our lowest compensation
ranges, including for entry-level positions,
are well above minimum wage.
G OV E R N A N C E SDG 16 GRI 205-1 At Indika Energy, we strive to build an
Peace, justice and effective, accountable, and inclusive
strong institutions GRI 205-2 institution by implementing the following
five Good Corporate Governance principles:
Target: GRI 205-3
transparency, accountability, responsibility,
16.3 independence, and fairness.
16.5
16.6 We also uphold a zero-tolerance policy
against bribery and corruption. Indika
Energy implements an Anti-Bribery
Management System across the Group,
and the Anti-Bribery Compliance Function
is responsible for ensuring compliance
with prevailing rules and regulations.
SDG 17 At Indika Energy, we engage in public-private
Partnership for partnerships as well as with civil society
the goals organizations for sustainable development.
Target:
17.17
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Our commitment to incorporate Our commitment to the
the World Economic Forum (WEF) Indonesia Business Council for
Stakeholder Capitalism Metrics Sustainable Development (IBCSD)
(SCM) Indika Energy is a proud member of the Indonesia
Businesses across the energy industry face Business Council for Sustainable Development
increasing pressure to deliver sustainable (IBCSD), which brings together companies and
prosperity while minimizing climate impact, leaders from across a wide range of industries.
engaging a diverse workforce, and many other We are part of a diverse group that is united in our
deliverables. We believe that increasing our vision for sustainable development that furthers
accountability and transparency to all of our Indonesia’s progress on meeting the SDGs.
stakeholders is also a crucial part of delivering Through this platform, we are able to share best
sustainable value creation. With our goal of practices, help guide the national conversation
working toward a more prosperous and fulfilled on sustainability, and build consensus at the
society and a more sustainable relationship with industry and policy levels about the importance of
our planet, we have pledged our commitment to grounding growth in sustainable practices.
incorporate the World Economic Forum’s (WEF)
Stakeholder Capitalism Metrics (SCM) into our
Our commitment to the Powering
ESG reporting.
Past Coal Alliance (PPCA)
In one of the strongest demonstrations to date
Our commitment to support the of Indika Energy’s commitment to transitioning
United Nations Global Compact toward a low-carbon business path, we are proud
(UNGC) to be the first, and to date only, Indonesian
Indika Energy pledged support for the Ten company that is a member of the Powering
Principles of the United Nations Global Compact Past Coal Alliance (PPCA). Announced at the
on human rights, labor, environment and anti- COP26 climate summit in Glasgow in 2021, the
corruption. These principles align with our own PPCA brings together national and subnational
commitments on the environmental, social and governments, the private sector and other
governance aspects of our operations. We are organizations that are driving the phase-out
committed to making the U.N. Global Compact of coal and accelerating the transition to clean
and its principles part of the strategy, culture, energy. Indika Energy’s own commitment is to
and day-to-day operations of the company, and ensure at least half of our revenue comes from
to engage in collaborative projects that advance non-coal streams by 2025, and transition to net-
the broader development goals of the U.N., zero greenhouse gas emissions by 2050 or sooner.
particularly the Sustainable Development Goals.
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Indika Nature adopts a regenerative approach to biomass production, prioritizing sustainable practices that bolster ecosystem health and resilience. This holistic strategy not only optimizes biomass yields but also combats environmental degradation, facilitates carbon sequestration, and nurtures the long-term vitality of ecosystems.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
SDG
3 0 2-1, 302-2, 302-3, 302-4, 302-5, 3-3, 303-1, 303-2 ,
3 0 3-3, 303-4, 303-5, 304-1, 304-2, 304-3, 304-4, 305-1 ,
GRI
3 0 5-2, 305-3, 305-4, 305-5, 305-7, 306-1, 306-2, 306-3 ,
3 0 6-4, 306-5
G L O B A L C O M PA C T P R I N C I P L E 7, P R I N C I P L E 8, P R I N C I P L E 9
WEF SCM PLANET PILLAR
ENVIRONMENTAL
At Indika Energy, we are transforming how we do business to mitigate
the environmental impact of our company and that of our broader
ecosystem. In striking a balance between contributing to Indonesia’s
energy security and ensuring a just clean-energy transition, we have
tightened up our own emissions targets as we eye achieving net zero
emissions by 2050.
Our wide-ranging approach of Diversify-Divest-Decarbonize has kept
us well on track to achieving these goals. Beyond energy, we also
continue to shrink our waste and water footprints, using a combination
of industry best practices, an increasing shift to renewable alternatives,
and innovations tailored to our applications.
By doing less harm, we also seek to do more good. That is why our
approach includes landscape restoration and revitalization activities
that aim to maximize carbon storage, boost wildlife welfare, and
empower local communities all at the same time.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
02.1
—
Emissions and Energy
U N D E R LY I N G O U R CO M M I T M E N T TO AC H I E V I N G C A R B O N N E U T R A L I T Y I S O U R
A N N U A L G R E E N H O U S E G A S (G H G ) E M I S S I O N S I N V E N TO RY, W H I C H W E A I M TO
R E D U C E E V E RY Y E A R U N T I L W E G E T TO N E T Z E R O BY 2050.
Indika Energy is deeply aware of the vital role that
fuel and electricity play in powering our diverse
Emissions
operations. Fuel and electricity are essential for
Our approach [GRI 3-3]
the smooth operation of our machinery, heavy
equipment, and operational vehicles, as well as Underlying our commitment to achieving carbon
for our daily office functions. neutrality is our annual greenhouse gas (GHG)
emissions inventory, which we aim to reduce
We fully understand the array of risks associated every year until we get to net zero by 2050.
with emissions and energy consumption in
our activities. These risks include the physical In 2023, we remodeled the way we calculate our
challenges posed by climate change, such as scope 1 and 2 emissions, aiming to make the
extreme heat and drought, as well as transitional, baseline from which we are working more accurate
regulatory, market, and reputational risks. and comprehensive as well as standardizing our
methodology across the Group.
In response to these challenges, Indika Energy is
steadfast in its commitment to environmental We have also adjusted the organizational
stewardship. We have pledged to significantly boundaries to no longer include emissions from
reduce our greenhouse gas (GHG) emissions and Petrosea (from which we divested in 2022), and
enhance the proportion of renewable energy to include emissions from our new non-coal
utilized across our operations. Guided by our ventures: Masmindo, Mekko, Indika Nature,
Environmental Policy, established in 2022, we EMITS, Ilectra Motor Group, and Xapiens. This
are dedicated to adhering to best practices in adjustment better reflects the strategic changes
sustainability. [GRI 3-3] in the portfolio.
We calculate and manage our GHG emissions
inventory in alignment with the Greenhouse Gas
Protocol, quantifying the total GHG emissions
attributed to our direct and indirect operational
activities. In our calculation, we have incorporated
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P T I N D I K A E N E R GY T B K .
emissions sources such as fugitive emissions from ⚫ Completed the installation of 60 MW of solar
coal-mining activities as well as refrigerants and photovoltaic capacity in Java, Bali, Sumatra,
process emissions. For other emissions sources Kalimantan, Sulawesi and Maluku through
that we included in previous calculations, we have our joint venture Empat Mitra Indika Tenaga
adjusted the emissions factors to ensure we follow Surya (EMITS);
the same international standards across the
Group. Indika Energy has not started disclosing its ⚫ Completed the construction of a wood pellet
Scope 3 emissions due to the the need to increase factory in Paser, East Kalimantan, by Indika
our confidence level in the quality of the data Nature, in preparation for exports of this
gathered. Indika Energy also does not produce carbon-neutral fuel;
emissions from biogenic or biomass sources,
⚫ Acquired a stake in Natura Aromatik
therefore we do not report this data. [GRI 305-3]
Nusantara, a major producer of essential oils,
Having an accurate, transparent, and regularly based in Solo, Central Java, to expand our
updated inventory allows us to understand the presence into aromatic chemicals, essential
total impact of our ecosystem on the climate, oils and natural extracts;
and in turn develop viable emissions reduction
⚫ Partnered with Slow Forest Coffee and
strategies to reach our net-zero goal by 2050.
Krakakoa, a producer of sustainable,
Strategies to reduce GHG emissions and traditional-grown coffee and cocoa, through
energy consumption Laras Ekosistem Organik, a subsidiary of
Indika Nature.
How we deliver on our climate commitment can
be broken down into three approaches: 2. Divesting from high-carbon industries
1. Diversifying into non-coal industries In addition to diversifying into new businesses,
we are also divesting out of legacy businesses as
One of the most meaningful ways to reduce part of our emissions-slashing drive. In 2021, we
emissions is to invest in low- or no-emissions divested our majority stake in Mitrabahtera Segara
businesses. This is why Indika Energy kicked Sejati (MBSS), a major player in the coal-shipping
off its diversification journey in 2018, aiming to sector. In 2022, we divested from Petrosea, a
expand beyond the core sectors of mining and leading mining services and engineering provider.
energy. Having committed to a target of at least And in 2023, we started the divestment process
50% of revenue coming from non-coal businesses from Multi Tambangjaya Utama (MUTU), a top
by 2025, we have since invested in a wide range miner of high-quality coal, marking significant
of businesses, ranging from electric vehicles to progress in our transition away from carbon-
nature-based solutions. intensive business.
Our diversification highlights from 2023 include: 3. Decarbonizing our operations
⚫ Launched our latest electric motorcycle While diversification and divestment go some
model under the ALVA brand, the Cervo, and way toward shrinking our carbon footprint, it is
investing in a manufacturing facility outside inevitable that we will remain engaged in some
Jakarta; carbon-intensive activities. For these, we continue,
as we always have done, to seek ways to cut
⚫ Expanded the brand offering we distribute emissions as much as possible while maximizing
through our electric bus startup Energi energy efficiency.
Makmur Buana (INVI);
Our decarbonization and energy efficiency
⚫ Worked with local communities and highlights from 2023 include:
authorities in Luwu, South Sulawesi, in
preparation for the start of operations at our ⚫ Increased use of biofuels at our operations
gold mine run by Masmindo; sites, including a shift to the cleaner B35
blend of biodiesel from the B30 blend used
⚫ Managed our bauxite-mining concession run previously;
by Mekko Mining;
⚫ Increased used of solar power through new
installations at our INDY Bintaro Office Park
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
(313 kWp), Interport Business Park (140 kWp), 2023 GHG emissions performance [GRI
and Kideco site (409 kWp + 284 kWh battery); 305-1, 305-2, 305-4, 305-5]
⚫ Continued use of electric buses for employee In 2023, Indika Energy achieved a 11.26% decrease
transport in Kideco, thereby cutting our diesel in our total direct (Scope 1) and indirect (Scope
use; 2) greenhouse gas (GHG) emissions compared
to the year before. At Indika Energy, we adopt
⚫ Various energy efficiency initiatives in our a comprehensive approach to measuring our
mining activities, including mine road grade environmental impact, focusing not just on
management, installation of sound reduction absolute emissions but also on emissions
in heavy duty units, mini tower LED program, intensity. We calculate emissions intensity using
installation of slurry pump in excavators for two key metrics: coal production and revenue.
mud handling, etc. The former provides insight into the efficiency
of our primary operation — coal mining — while
Non-GHG emissions the latter offers a broader view of our operational
efficiency in all our operations including new
Our efforts to cut our diesel use, including through
ventures.
the increased adoption of biodiesel and the use
of solar power as an alternative energy source, This year, we observed an increase in both
have also had the benefit of tackling our CO, NOx, our production-based and revenue-based
SOx and particulate emissions from our diesel emissions intensities, rising by 6.67% and 23.17%
generators. respectively. These changes are attributed to a
significant reduction in both coal production
To manage our impact on air quality, Kideco
and revenue over the course of the year, relative
conducts emissions testing of these stationary
to 2022. This shift presents both challenges and
sources in external laboratories and monitors them
opportunities for Indika Energy as we navigate the
continuously to ensure they meet government-
complexities of the energy sector while steadfastly
stipulated quality standards (Peraturan Menteri
pursuing our sustainability objectives.
LHK No. 11/2021). Despite recording an increase
in NOx, SOx, CO, and particulate matter, testing In 2021, Indika Energy embarked on a
throughout 2023 showed our emissions of these transformative journey, redefining its purpose
pollutants remain well below the allowable limits. and developing a comprehensive sustainability
strategy, alongside specific ESG targets for 2025,
Going forward, we will continue implementing
all grounded in data from the year 2020. This
measures to prevent and control these pollutant
pivotal year was selected as our baseline, setting
emissions, and explore new methods and
the stage for our progress measurements in the
technologies for doing so. As our carbon footprint
years to follow.
shrinks, we expect to see an associated decrease in
these types of emissions as well. Reflecting on our achievements since this strategic
pivot, we are proud to report remarkable progress
Emissions containing ozone-depleting in 2023. Despite the significant expansion of our
substances reporting boundaries, we successfully reduced our
revenue-based intensity by 50.80% and recorded
Another class of pollutants of high concern are
a slight increase of our production-based intensity
ozone-depleting substances (ODS), typically
by 0.81% compared to our 2020 baseline.
found in air-conditioning systems, refrigerators
and fire extinguishers. While the world has made
major strides, through the Montreal Protocol,
to phase out these harmful substances, they
continue to be produced and distributed, albeit at
a much smaller scale than previously. For our part,
Indika Energy does not produce, import or export
ozone-depleting substances, hence why we do not
measure ODS emissions. Nevertheless, we have
switched to using air-conditioning units with the
ozone-friendly refrigerant R410a in most of our
offices. [GRI 305-6]
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P T I N D I K A E N E R GY T B K .
SCOPE 1 AND 2 GHG EMISSIONS SCOPE 1 AND SCOPE 2 GHG
TONCO2EQ EMISSIONS INTENSITY [GRI 305-4]
1,023,433 6,576 338
2023 TCO2E/USD MILLION REVENUE
0.031
TCO2E/TON COAL PRODUCTION
1,155,280 5,482
2022 GHG EMISSIONS BY SOURCE
1%
3%
2021 1,197,167 3,866 26%
Scope 1 Scope 2
Note:
⚫ Gases included in the calculation: CO2, CH4,
N2O. GWP rates used for calculating Scope 1 and
70%
2 emissions are based on the Intergovernmental
Panel on Climate Change (IPCC) Fifth Assessment
Report (AR5): CO2 = 1, CH4 = 28, N2O = 265. [GRI Stationary combustion Mobile combustion
305-1, 305-2]
Fugitive emissions and others Electricity comsumption
⚫ 2021 Scope 1 and 2 GHG emissions data is compiled
based on Kideco, Petrosea (divested in 2022),
Tripatra, MUTU, and Interport. 2022 and 2023 Note:
figures include Kideco, Tripatra, Interport, Indika Figures include Kideco, Tripatra, Interport, Indika
Indonesia Resources, EMITS, Ilectra Motor Group, Indonesia Resources, EMITS, Ilectra Motor Group,
Xapiens, Masmindo, Mekko, Indika Nature, and Xapiens, Masmindo, Mekko, Indika Nature, and
Indika Energy Holding. Indika Energy Holding.
⚫ Indika Energy uses the operational control
to consolidate emissions data. Indika Energy 2023 energy performance [GRI
consolidates the data from these subsidiaries 302-1]
quarterly through the use of an internal ESG
Dashboard [GRI 305-1]. In 2023, we observed a modest reduction
⚫ Scope 1 emission factors [GRI 305-1]:
of 4.01% in our overall energy usage
compared to the year before. Notably, due
⚫ 100% mineral diesel: 0.00256 tCO2e per liter
⚫ B30: 0.00191 tCO2e per liter to the shift to B35 biofuels, our consumption
⚫ B35: 0.00179 tCO2e per liter of renewable energy sources experienced
⚫ Refrigerant R-410A: 1.924 tCO2e per kg an increase, contributing to a decline in
⚫ Refrigerant R-134A: 1.3 tCO2e per kg
our reliance on non-renewable energy. This
⚫ Refrigerant R-32: 0.677 tCO2e per kg
positive shift resulted in an enhancement
⚫ Scope 2 emission factors are derived from the
Indonesian Ministry of Energy and Mineral of our renewable energy mix, which grew
Resources: https://jdih.esdm.go.id/index.php/web/ from 27.75% to an impressive 33.37%.
result/2183/detail [GRI 305-2]
We witnessed growth in both our
production- and revenue-based energy
consumption intensities, rising by 15.13%
and 33.23%, respectively. This significant
rise primarily stems from a reduction in coal
production scale and a decrease in revenue
in 2023, against the backdrop of 2022’s
unusually high coal prices. Additionally,
with our new ventures starting or ramping
up their operations, we only saw a small
decrease in energy consumption despite
our energy efficiency efforts.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Since establishing our 2020 baseline, we have successfully reduced our energy consumption by 24.83%. This milestone
reflects our steadfast commitment to environmental stewardship and our ongoing efforts to operate more sustainably.
E N E R GY S O U R C E UNIT 2022 % 2023
Renewable energy consumption
Solar Photovoltaic GJ 5,694 -84.06% 907
Biofuel GJ 4,270,819 15.58% 4,936,382
Total renewable energy consumption GJ 4,276,513 15.45% 4,937,289
Non-renewable energy consumption
Diesel fuel and petrol GJ 11,114,064 -11.52% 9,833,354
Electricity on-grid GJ 22,879 4.90% 24,001
Total non-renewable energy consumption GJ 11,136,943 -11.49% 9,857,355
Total energy consumption GJ 15,413,456 -4.01% 14,794,645
RENEWABLE ENERGY MIX IN 2022
Renewable energy
27.75%
Non-renewable energy
72.25% RENEWABLE ENERGY MIX IN 2023
Note:
⚫ Figures include Kideco, Tripatra,
Interport, Indika Indonesia Resources, Renewable energy
EMITS, Ilectra Motor Group, Xapiens, 33.37%
Masmindo, Mekko, Indika Nature, and
Indika Energy Holding. Non-renewable energy
66.63%
⚫ The biodiesel blend in the B30 or B35
fuel is factored into the renewable
energy consumption calculation. Aside
from that, use of electricity generated
from solar PV is also included in the
renewable energy portion.
For further details on 2023 perfomance, please see Appendix
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It’s Always Sunny
at Indika Energy
At the present time, renewable power accounts for
33.3% of Indika Energy’s total energy mix, with solar
photovoltaic contributing 907 Gigajoules of energy.
At the Kideco site in Paser, East Kalimantan, our solar
side quest began with 409 kWp of solar photovoltaic
and a 284 kWh battery, lighting up employee housing.
Installed by Empat Mitra Indika Tenaga Surya, 999 solar
panels and three inverters have brought this vision to life.
Expanding our reach, INDY Bintaro Office Park saw a 313
kWp rooftop solar array installed in 2021, expanding our
commitment to renewable energy.
Most recently, Interport Business Park in Kariangau
welcomed on-grid rooftop solar photovoltaic enough to
meet approximately 7% of the facility’s electricity needs,
again thanks to the expertise of EMITS.
252,053
With each installation, we’re forging a greener, brighter
KWH ELECTRICITY PRODUCED
future, one panel at a time.
W I T H S O L A R P H OTOVO LTA I C
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
02.2
—
Water and Effluents
WAT E R I S L I F E , A N D I N A C L I M AT E O F G LO BA L WA R M I N G , I T I S A L S O A N
I N C R E A S I N G LY P R E C I O U S R E S O U R C E . AT I N D I K A E N E R GY, W E R E A F F I R M O U R
D E D I C AT I O N TO S U S TA I N A B L E WAT E R M A N AG E M E N T, P R I O R I T I Z I N G T H E
CO N S E RVAT I O N O F T H I S F I N I T E R E S O U R C E W H I L E E N S U R I N G T H E W E L L-
B E I N G O F LO C A L CO M M U N I T I E S W H O A L S O D E P E N D O N I T.
Indika Energy operates two sites - Interport’s
Our approach [GRI 303-1] Babelan site and ALVA’s Cikarang plant - situated
We are deeply committed to responsible in regions identified by the WRI’s Aqueduct
water use, ensuring that our activities do not Water Risk Atlas as having high water stress. Our
compromise access to this vital resource for others. control over water usage at these locations is
Recognizing the potential for contamination of limited since the Babelan site and the Cikarang
surface and groundwater through the leaching plant receive water supply from a client and
of chemicals and heavy metals—stemming the industrial estate respectively. Aware of the
from mine runoff, waste disposal, and the use of critical importance of water conservation in these
chemicals in processing—we place a high value on regions, we have intensified our water efficiency
the well-being of nearby communities, as well as measures to mitigate environmental impacts.
the health of aquatic life and ecosystems.
We remain steadfast in our commitment to
We closely monitor our water usage, treatment responsible water stewardship, recognizing the
and discharge processes using a flow meter pivotal role it plays in our operations and the
across all operational sites, implementing broader community.
quarterly assessments to enhance efficiency
and accountability. The data collected is
compiled from all subsidiaries and reported Water usage [GRI 303-1]
to the Sustainability Committee quarterly for Indika Energy uses water from various sources:
further evaluation of ongoing initiatives and surface water, groundwater and seawater at our
for monitoring progress against our 2025 and various operational sites, and piped water from
2030 water withdrawal intensity targets. Regular the local utility at our head office. Surface water
environmental assessments, conducted every is taken from rivers such as Sungai Biu, Sungai
six months, involve accredited personnel and Seratai, Anak Sungai Kasungai, and Anak Sungai
adhere to Indonesian National Standards (SNI), Samurangau, as well as other sources such as
safeguarding water bodies and seawater quality. Waduk Tandarayan and Kolam Tadah Hujan Lolo.
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Water efficiency initiatives
At the Kideco site, we prioritize responsible water
management practices, implementing closed WATER WITHDRAWAL
circuit systems for vehicle washing; we employ BY SOURCE [GRI 303-3]
a similar system for ore processing at Mekko to Third party water
recycle water efficiently. Holding permits for 1.2%
water extraction and reuse, we collaborate with Sea water
contractors to conduct rainwater harvesting and 11.1%
Ground water
promote greywater reuse for non-consumption
0.6%
purposes. Additionally, our innovative nozzle-
Surface water
equipped fog cannons and big gun sprinklers 87.1%
ensure precise water distribution in our coal
stockpile yard, reducing consumption while
maintaining effectiveness. These initiatives
underscore our commitment to sustainability,
reflecting our dedication to environmental
stewardship and resource efficiency across our
operations.
Water discharge [GRI 303-2] WATER WITHDRAWAL
AND RECYCLING PERFORMANCE [GRI 303-3]
We always prioritize the proper management
(megaliters)
of effluents and wastewater, understanding the
potential risks they pose to destination water
2023
2,830 1,952
bodies and the surrounding communities’ water
supply quality. As part of this commitment,
we meticulously monitor and report our water
4,896 2,296
treatment processes, ensuring compliance 2022
with acceptable standards of water quality,
encompassing factors such as pH levels and
turbidity, before any release. Moreover, our 2021
3,865 909
effluent management practices adhere strictly to
both local and national regulations.
0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000
Water withdrawal Water recycled
2023 WATER AND EFFLUENTS For further details on 2023 perfomance, please see Appendix
PERFORMANCE
[GRI 303-3. 303-4, 303-5]
WATER WITHDRAWAL
42% 2023: 2,830 ML
2022: 4,896 ML
WATER CONSUMPTION
42% 2023: 2,819 ML
2022: 4,881 ML
WATER DISCHARGE
(megaliters)
33% 2023: 212,812 ML
2022: 317,812 ML
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“We used to have to spend hours fetching water,
carrying heavy buckets from the river. But now clean
water is easier to get. I can grow vegetables now and
my daughter can go to school.” - Mama Emi, resident
of Wekeke Village
“We thank Solar Chapter and Indika Energy and the
other support we have received as an extension of
God’s love. Water is now flowing in Boen Village, and
thank God we can feel the pleasure of clean water.” -
Father Teddy, priest and community leader in Boen
Village.
Giving the gift of water,
courtesy of the sun
Boen Village, about an eight-hour drive from Kupang in Nusa Tenggara Timur Province, faces significant
challenges due to limited infrastructure and tough terrain. Despite being home to more than 1,000 residents,
the village has untapped economic potential, primarily in food crop production. However, the community’s
development is hampered by the critical issue of water scarcity, forcing residents to travel long distances daily
to obtain water from the Benanain River, their sole water source.
This water scarcity has far-reaching implications, affecting various aspects of community life, including
sanitation, education, productivity, and the economy. The financial burden of purchasing water, which can
consume up to 74% of the average monthly income, exacerbates the situation.
In response to this pressing need, in collaboration with Solar Chapter, the initiator of the Water for Boen
program, Indika Energy assisted units of solar photovoltaic for Boen Village. Harnessing the abundant sunlight
in this region of eastern Indonesia, a piped water distribution network was developed using pumps powered
by solar energy. This emissions-free and sustainable solution was successfully completed on Indonesian
Independence Day, August 17th 2023, following meticulous planning and execution.
The installation comprises a solar photovoltaic array from EMITS with total power capacity of 9,900 Wp,
which serves as the backbone of the pump system, facilitating water distribution throughout the village. This
transformative initiative aims not only to address the immediate water needs of the community but also
to unlock the village’s economic potential, fostering opportunities for improved welfare and health among
residents.
Through this collaborative effort, Indika Energy and Solar Chapter Indonesia are committed to empowering
Boen Village with sustainable access to clean water, catalyzing positive socio-economic development and
enhancing the quality of life for residents.
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P T I N D I K A E N E R GY T B K .
02.3
—
Waste Management
BY PRIORITIZING WA S T E REDUCTION, R E C YC L I N G , AND RESPONSIBLE
D I S P O SA L M E T H O D S , W E A I M TO M I N I M I Z E O U R E N V I R O N M E N TA L FO OT P R I N T
A N D SA F E G U A R D T H E E CO SYS T E M S I N W H I C H W E O P E R AT E .
Indika Energy’s operational endeavors, recycling, and responsible disposal methods, we
particularly at Kideco and Interport, inevitably aim to minimize our environmental footprint and
produce both hazardous and non-hazardous safeguard the ecosystems in which we operate.
waste. This waste spectrum encompasses a variety Through ongoing assessment and improvement
of materials, from used oil and contaminated of our waste management strategies, we remain
equipment to used conveyor belts and livestock steadfast in our commitment to responsible waste
manure. Hazardous waste mainly comes from the handling. [GRI 3-3, 306-1]
operation of heavy machinery and the activities
within our on-site health facilities and clinics.
Non-hazardous waste includes everyday domestic
Our approach [GRI 3-3, 306-2]
waste from our offices and the operations of dump At the Group level, we diligently collect and
truck units and conveyor belts. Furthermore, our monitor waste-related data quarterly, utilizing an
coal mining endeavors at Kideco result in the ESG Dashboard to track our progress against our
production of overburden and topsoil. targets. Additionally, at the subsidiary level, waste
data is collected on a monthly basis, ensuring
We recognize that there are various risks related thorough oversight of our waste management
to the potential negative impacts that waste practices. These data are then reported to our
from our operations, whether hazardous or non- Sustainability Committee and used to evaluate
hazardous, could bring to the environment and the effectiveness of existing waste management
society, such as the potential threat of marine programs in our subsidiaries.
pollution resulting from leakage of discarded
plastic packaging into water bodies, soil In our efforts to minimize waste generation,
contamination, and public health hazards. meticulous project planning plays a pivotal role.
Moreover, at Kideco, we prioritize maximizing the
Understanding the potential environmental lifespan of used tires by retreading and regrooving
impacts of improper waste management, we them from heavy-duty units. When tires are no
are committed to implementing comprehensive longer suitable for retreading, we repurpose them
waste management practices across all facets of for various applications, including road markings
our operations. By prioritizing waste reduction, and drop structures in reclamation areas.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
The management of hazardous waste is executed with utmost care. We temporarily store hazardous
waste at licensed temporary processing sites (TPS) before managing it according to its type. At
Kideco, we are pioneering eco-conscious practices by repurposing waste lubricant oil, integrating it
as a sustainable substitute for a portion of the diesel oil typically used in ammonium nitrate fuel
oil (ANFO) explosives for our blasting activities. Meanwhile, some hazardous waste is entrusted to
licensed third parties for further management, whether it be landfilled or reused and recycled.
Through these initiatives, we aim not only to mitigate environmental risks but also to foster a culture
of sustainability within our operations. By prioritizing responsible waste management practices, we
strive to minimize our environmental footprint and contribute positively to the communities and
ecosystems in which we operate.
2023 Waste management performance
WASTE GENERATED IN 2022 (TONS) [GRI 306-3] WASTE GENERATED IN 2023 (TONS) [GRI 306-3]
4,324 Hazardous waste
6,871 6,871waste
Hazardous 6,871 26.6%
35.0%
Non-hazardous 12,752 Non-hazardous 11,956
12,752
65.0% 73.4%
WASTE DIVERTED FROM DISPOSAL IN 2022 (TONS) [GRI 306-4]
3,539 Hazardous waste
6,871 38.9%
Non-hazardous 5,563 WASTE DIVERTED FROM DISPOSAL IN 2023 (TONS) [GRI 306-4]
61.1%
3,539
3,845 Hazardous waste
6,871 38.9%
Non-hazardous 5,535
61.1%
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P T I N D I K A E N E R GY T B K .
Significant spills in Indika Energy
Type of spill Unit 2021 % 2022 % 2023
Oil spill m3 0.02 -100.00% 0.00 100.00% 0.10
Fuel spill m3 0.00 0.00% 0.00 0.00% 0.00
Spills of waste m3 0.00 0.00% 0.00 0.00% 0.00
Spills of chemicals m3 0.02 -100.00% 0.00 0.00% 0.00
Total m3 0.04 -100.00% 0.00 100.00% 0.10
In 2023, despite efforts to maintain zero spills, we
recorded two oil spill incidents at Tripatra’s sites
for the Tangguh and SPV projects. Responding to
these incidents, measures were taken to prevent a
recurrence in future:
Project Tangguh Expansion Project (TEP) Project South Pacific Viscose
⚫ Every new personnel going through ⚫ Organizing an emergency spill response for
onboarding to work on the TEP project is spill scenarios and must be implemented
required to take part in Spill Prevention to ensure the readiness of personnel in their
Training, which provides information respective roles and responsibilities.
regarding potential spills, spill handling tools,
spill handling systems, emergency spill drills, ⚫ Personnel must carry out routine inspections.
etc ⚫ An emergency spill response team must be
⚫ The TEP Project also details spill handling present on site.
procedures in the Environment Management ⚫ Spill response must be carried out according
Plan and ERP. to existing procedures.
⚫ The ERP explains the team’s response if a ⚫ Spill handling equipment must be provided
spill occurs, as well as pre-planning for spill on site.
conditions that occur
⚫ Personnel must carry out recording/
⚫ The Environmental Management Plan documentation of spills.
contains provisions and procedures for how to
handle spills that occur and what needs to be
prepared to prevent spills from occurring.
⚫ Personnel must carry out recording/
documentation of spills.
For further details on 2023 perfomance, please see Appendix
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From trash to treasure, with wise waste management In 2023, we launched the “Bijak Kelola Sampah” program at our Graha Mitra office in Jakarta as part of our commitment to sustainable waste management practices. Through this initiative, we actively engage our employees in sorting waste into three categories: organic, non-organic, and residue. Collaborating with Waste4Change, a social enterprise dedicated to zero-waste-to-landfill solutions in Indonesia, we aim to instill a culture of waste reduction and responsible disposal among Indika Energy employees, cleaning staff, and building management. Our waste management strategy focuses on reducing landfill waste by implementing sustainable solutions for each waste category. Organic waste can be composted by black soldier flies (BSF), whose larvae can then be used as livestock feed, perpetuating a circular system and contributing to organic waste reduction. For non- organic waste, various options exist, including shredding plastic waste, compacting paper waste, and packaging glass and metal waste for safe distribution to Waste4Change recycling partners. Residual waste, meanwhile, undergoes a process using Refuse- Derived Fuel (RDF) technology to convert it into alternative fuel, further minimizing our environmental impact. The implementation of the “Bijak Kelola Sampah” program has enabled us to measure waste management data regularly, facilitating monthly reports on waste generation and sorting trends. This data not only informs our sustainability reporting but also aids in evaluating the effectiveness of our waste management efforts and identifying areas for improvement. Inspired by the success of the program at our Graha Mitra office, two of our subsidiaries, Indika Indonesia Resources and Indika Nature, have initiated their own waste management programs in collaboration with Waste4Change. Together, we are driving positive change and fostering a more sustainable future through responsible waste management practices.
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P T I N D I K A E N E R GY T B K .
02.4
—
Biodiversity and Land Use
OUR CO M M I T M E N T TO ESG PRINCIPLES EXTENDS TO THE P R E S E RVAT I O N AND
E N H A N C E M E N T O F B I O D I V E R S I T Y I N A R E A S W H E R E W E O P E R AT E , F R O M CO M I N G U P W I T H
B I O D I V E R S I T Y M A N AG E M E N T S T R AT E G I E S , TO M I N I M I Z I N G O U R E N V I R O N M E N TA L I M PAC T,
P R OT E C T I N G S E N S I T I V E H A B I TAT S , A N D P R O M OT I N G B I O D I V E R S I T Y CO N S E RVAT I O N .
At Indika Energy, we collect biodiversity and
Our approach [GRI 3-3] land reclamation data from relevant subsidiaries
We realize that our operations can have quarterly through the use of an ESG Dashboard,
significant impacts on local biodiversity, affecting which is later reported to the Sustainability
ecosystems in various direct and indirect ways. Committee for further evaluation. [GRI 304-3]
The disruption of land, especially to access coal
reserves, leads to habitat fragmentation and Managing biodiversity at Kideco and
alteration, directly threatening the survival of Indika Nature [GRI 3-3, 304-1, 304-2,
local flora and fauna. Such disturbances can result 304-3]
in the displacement of species and reduction in
biodiversity, potentially leading to long-term Kideco’s mining activities cover 11,974 hectares in
ecological imbalance. Paser, East Kalimantan, and include the areas of
Roto Samurangau and Susubang Uko, which are
Therefore, as responsible corporate citizens, we largely production and limited production forests
recognize the critical importance of biodiversity respectively. Part of Kideco’s transshipment
conservation in sustaining healthy ecosystems port also overlaps with Adang Bay Nature
and supporting local communities. Our Reserve, a designated protected forest due to
commitment to ESG principles extends to the its high biodiversity conservation value, while
preservation and enhancement of biodiversity adjacent to the Kideco site sits Mount Jondang,
in areas where we operate, from coming up which we recognize internally as a biodiversity
with biodiversity management strategies, to conservation area based on criteria in the 1990
minimizing our environmental impact, protecting Natural Resources Conservation Law and the 1999
sensitive habitats, and promoting biodiversity government regulation on protected species.
conservation. Through proactive measures and
stakeholder engagement, we aim to mitigate Given the sensitivity and importance of the
biodiversity risks and contribute to the long-term habitats around us, we have a duty of care to
ecological resilience of our operational areas. minimize our footprint and offset its impact.
Through the Kideco Care program, the company
collaborates with local communities to cultivate
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
native tree species in nurseries, which are then Indika Nature continues to identify and develop biodiversity
planted to establish forest corridors connecting programs, as well as to explore potential collaboration with
fragmented patches of forest and facilitating third parties for biodiversity measures. [GRI 304-3]
wildlife movement. Studies indicate successful
biodiversity conservation efforts in the reclaimed
IUCN Red List Species in areas managed by Indika
areas, demonstrating comparable biodiversity
Energy Group [GRI 304-2, 304-4]
levels to surrounding natural forests and providing
habitat for endangered species.
LEVEL OF EXTINCTION RISK 2021 2022 2023
Biodiversity monitoring has revealed the presence
Critically endangered 1 1 17
of hundreds of mammal, bird, amphibian, reptile
and insect species across our reclamation areas, Endangered 5 7 41
where food chains have been established, Vulnerable 14 14 93
marking them out as functioning wildlife habitat.
Near threatened 26 26 91
Furthermore, studies have shown that at Kideco’s
Tandarayan Arboretum reclamation area, no Least concern 205 209 242
pests were found to disturb the area’s flora and
Note: 2021 and 2022 data is derived from Kideco only, while 2023 data
fauna. Kideco partners with Ecositrop to protect already includes Kideco and Indika Nature.
and restore habitat areas, further enhancing
biodiversity conservation measures. Fauna biodiversity performance by species [GRI
304-2]
Kideco has also developed Mine Closure Plans for
each site, with Roto Samurangau’s plan drafted in
DESCRIPTION 2021 2022 20 2 3
2020-2021 and approved in 2022, and Susubang
Uko’s plan drafted in 2018-2019 and approved Mammal 47 49 49
in 2019. These plans, covering the entire mining Avifauna 134 138 141
operation area in Paser, are communicated to
Herpetofauna 34 44 45
relevant stakeholders to ensure transparency
and alignment with environmental regulations Insects 424 429 446
and community interests. Provincial financial Note: This data has received recognition through ISBN No. 978-
allocations, which include an environmental 602.50513-3-3.
cost component in our Financial Statements,
support our commitment to land reclamation and List of flora and fauna recorded at the Tandarayan
rehabilitation. Arboretum reclamation area [GRI 304-4]
Another subsidiary, Indika Nature, protects S TAT U S B A S E D
LO C A L N A M E SCIENTIFIC NAME ON IUCN RED
and manages a 170,000-hectare site in East LIST
Kalimantan, home to critically endangered
wildlife like helmeted hornbills (Rhinoplax vigil), Sunda pangolin Manis javanica Critically
Sunda pangolins (Manis javanica) and trees like endangered
bangkirai (Hopea ferruginea), a prized timber Proboscis monkey Nasalis larvatus Endangered
tree. It operates within landscapes of significant
Muller’s gibbon Hylobates muelleri Endangered
ecological importance. For instance, 9,137 hectares
of our Jaya Bumi Paser site is nestled next to areas Bay cat Catopuma badia Endangered
of high conservation value. This site is dedicated
Long-tailed macaque Macaca fascicularis Endangered
to the cultivation of Calliandra for the production
of biomass. In addition, our Telaga Mas Southern pig- Macaca nemestrina Endangered
Kalimantan site spans 21,461 hectares, positioned tailed macaque
adjacent to an area of high conservation value. Greater green leafbird Chloropsis sonnerati Endangered
We also identified a high conservation value area
bordering our Trisetia Citra Graha site covering an Buff-rumped Meiglyptes tristis Endangered
area of 7,040 hectares. These high conservation woodpecker
value areas have been identified based on
practices outlined in the HCV Resources Network
guidance.
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P T I N D I K A E N E R GY T B K .
Area of land reclamation [GRI 304-3]
2021 2022 2023
DESCRIPTION UNIT
R E A L I Z AT I O N C U M U L AT I V E R E A L I Z AT I O N C U M U L AT I V E R E A L I Z AT I O N C U M U L AT I V E
Kideco Ha 471.64 4,609.37 440.69 5,050.06 79.97 5,130.03
Mekko Ha 0.00 0.00 0.00 0.00 6.00 6.00
MUTU Ha 81.13 445.36 160.00 605.36 138.03 743.39
Total Ha 552.77 5,054.73 600.69 5,655.42 224.00 5,879.42
Note:
⚫ With the accomplished area of land reclamation as displayed in the table above, we have achieved the targets we
have set in our annual and five-year Mine Reclamation Plan that has been approved by the government.
⚫ None of the reclamation area has been handed over to the government.
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35.35 ha
P L A N T E D A R E A A S O F 2023
46,600+ trees
P L A N T E D I N 2023 A N D E X P E C T E D TO G R O W
573.3 tonCO2e
E X P E C T E D TO S E Q U E S T E R F R O M 46, 60 0 +
M A N G R OV E T R E E S P L A N T E D I N 2023
Growing the ‘rainforests of the sea’
Mangroves are often referred to as the “rainforests of the sea,” but these vital coastal ecosystems are even
more impressive than the name suggests. Hectare for hectare, mangroves store more carbon than any kind of
terrestrial forest, making their preservation hugely important in the fight against climate change.
Mangroves also support diverse marine and terrestrial biodiversity, providing habitat for numerous species
of fish, birds and other wildlife. Additionally, they offer valuable resources and ecosystem services to coastal
communities, including fisheries support, timber and medicinal plants, and serve as buffers against tidal
surges and tropical storms.
Reflecting the urgent need for conservation efforts to safeguard these invaluable ecosystems and the benefits
they provide to both nature and society, the Indika Energy Mangrove Program in Action (IMPACT) was launched
in March 2023 in Paser, East Kalimantan.
This three-year initiative transcends traditional mangrove restoration, emphasizing community empowerment,
environmental resilience, and sustainable development. By empowering local communities to engage in
mangrove preservation and restoration, we foster a symbiotic relationship between nature and people.
Working with government entities, local communities, and Maroon, our implementing partner, we have been
able to amplify our collective efforts to protect and rehabilitate mangroves, contributing to broader goals of
carbon neutrality in Indonesia.
Our ambitious plans entail mangrove rehabilitation across 250 hectares of land in Lori, Sungai Langir, Tajur, and
Pasir Mayang villages. Prioritizing four mangrove species based on natural conditions and local dominance, we
anticipate significant ecological benefits and carbon sequestration potential.
To date, we have planted over 46,600 mangrove seedlings across 35.35 hectares, marking strides toward
our 2025 target. Beyond the ecological benefits, IMPACT underscores our commitment to safeguarding the
economic livelihoods of coastal communities, fostering resilience and sustainability. Through initiatives like
IMPACT, Indika Energy continues to lead by example, driving positive change for the environment and society
alike
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Across our 5.6 hectare biomass nursery, we foster sustainable solutions, nurturing the growth of renewable resources while promoting environmental stewardship.
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SDG
2 0 3-1, 203-2, 3-3, 401-1, 401-2, 403-1, 403-2, 403-3 ,
4 0 3-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10, 404- 1 ,
GRI
4 0 4-2, 404-3, 405-1, 405-2, 406-1, 407-1, 408-1, 409-1 ,
4 1 3-1, 413-2
G L O B A L C O M PA C T P R I N C I P L E 3, P R I N C I P L E 4, P R I N C I P L E 5, P R I N C I P L E 6
WEF SCM PEOPLE AND PROSPERITY PILLARS
SOCIAL
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P T I N D I K A E N E R GY T B K .
03.1
—
Developing Our Human Capital
Talent attraction: We follow a clear policy to
Developing our human capital eliminate bias and ensure sourcing channels do
Our employees are the cornerstone of our not discriminate applicants, either directly or
company’s success, bringing our vision to life indirectly. Any official recruitment posts with
and leading our efforts to continue delivering clearly defined job descriptions are coordinated
innovative, high-quality, and impactful solutions by a dedicated human capital recruitment team
for all our users. We know to attract the right to ensure quality, be clear about expectations for
talent, with the minds, hearts, and commitment candidates, and prevent fraudulent applications.
to help deliver our mission and drive impact across
our ecosystem, we have to establish the necessary Recruitment: Our recruitment team alongside
support system and channels for our employees to hiring managers and employees with relevant
continuously grow and thrive. subject matter expertise, partake in candidate
interviews and screening, using the established
We also adhere to a strong ethical code of conduct evaluation criteria.
and expect all our employees and business
partners to share and respect those values as Our efforts in 2023 led to a significant growth
part of contributing to a more transparent, in our teams across the nation, with current
accountable, and safe working environment. employment of 3,579 across all levels.
Our approach [GRI 3-3, 404-2]
FROM 8.67% TO 4.46%
Attracting the right talent R E D U C T I O N I N E M P LOY E E T U R N OV E R
We pay close attention to how we attract and
assess talent at every step of the recruitment and BY 2.55% TO USD 735,037
hiring process. We are also focused on “culture
add” and values when evaluating candidates, INCREASE IN TRAINING AND
looking to hire people with different backgrounds D E V E LO P M E N T E X P E N D I T U R E
and a wide range of experiences. That means
we focus on how a candidate can add to Indika For further details on 2023 perfomance,
Energy’s culture, not simply how they might please see Appendix
fit in. When we look at hiring, we also consider
geographic and socioeconomic diversity for better
representation.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Developing the right skills [GRI 404-2] Accelerating growth
We deliver targeted learning and development ⚫ We cultivate an environment where all
programs for all Indika Energy Group employees employees have equal opportunities for
because we believe it is important to help our personal and professional growth.
employees continue enhancing their skills and
expand their knowledge to move forward and ⚫ Our human capital teams have detailed
carve out a meaningful career path. performance review procedures, which
include standard evaluation frameworks to
We ensure that every employee has equal assess employee performance. This ensures
opportunity to learn and develop themselves to comprehensive, objective, and transparent
maximize their individual potential and support reviews of our employees’ contributions
their career path. to the company and supports identifying
the right tools and opportunities for talent
⚫ Mandatory training: We ensure all the development.
mandatory training is completed by
employees, coordinated, and managed by our ⚫ We also have a coaching support network to
Human Capital teams. Mandatory training equip our leaders with the necessary tools and
includes Code of Conduct, Business Ethics, skills to better coach their teams.
Anti-Bribery and Anti-Corruption, and Health
and Safety. ⚫ In May 2023, we undertook a comprehensive
Employee Engagement Survey across Indika
⚫ Executive training program: Held in May Energy Holding and its subsidiaries, including
2023, covered a wide range of topics, such as Indika Indonesia Resources, Interport, Indika
Corporate Action, Corporate Law and Trade Nature, and Ilectra Motor Group. The survey
Practices, Monetizing Business Opportunities, saw an impressive participation rate of
Subsidiary Governance, and Corporate 93%, reflecting a strong commitment from
Investment Strategies for Value Creation, for our team members to share their insights
all Indika Energy Group executives and new and contribute to our ongoing efforts to
members of BOD at the subsidiary level. enhance our work environment and practices.
This initiative underscores our dedication
⚫ Sustainability workshops: A set of learning to fostering a sustainable and inclusive
programs focused on sustainability, in corporate culture that values the voices and
collaboration with a third-party consultant, well-being of all employees.
aimed at serving Indika Energy business
units to standardize and improve their We involve employees or representatives in the
understanding on ESG materials. development of most company policies. The
Company also ensures adequate dissemination to
⚫ External training: Indika Energy Group holds employees of policies related to employee welfare,
webinars and sessions with external guest the merit system, or future Company plans one
speakers and subject matter experts for all month before they are carried out. Dissemination
employees on a broad range of topics. activities are conducted through various Company
⚫ LinkedIn Learning: In 2023, we started to internal communication channels such as email,
provide our employees with access to more town hall meetings, coordination meetings, and
than 16,000 online courses through an others. These provisions are in accordance with
e-learning platform called LinkedIn Learning, the prevailing Company regulations and collective
accessible 24/7 through a desktop or mobile labor agreements. [GRI 402-1]
phone. Throughout 2023, employees enrolled
in courses covering topics such as Audit 114,813
and Due Diligence, Communicating with
Confidence, Decision-Making Strategies, T R A I N I N G H O U R S P R OV I D E D
Excel Training, Principles of Sustainable TO E M P LOY E E
Development, Strategic Human Resources,
among others.
ZERO
I N C I D E N T S O F D I S C R I M I N AT I O N I N 2023
[G R I 406- 1 ]
For further details on 2023 perfomance,
please see Appendix
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P T I N D I K A E N E R GY T B K .
03.2
—
Championing Diversity,
Equity and Inclusivity
We prioritize diversity, equity, and inclusivity responsibilities in hiring, job assignment,
in our workforce, witnessing increased training, conditions of work, and firing.
representation of women in our historically Our commitment to gender equality is also
male-dominated industry, with expectations reflected through our policy of paid maternity
of further growth through diversification and and paternity leave, which is aligned with
empowerment initiatives. Our commitment to national regulatory requirements [GRI 401-3].
gender equality includes pay parity, women’s
representation in management, and support for ⚫ Zero tolerance of harassment: Indika Energy
work-family balance, reflected in our policies on Group condemns all kinds of harassment, not
paid maternity and paternity leave. We maintain just of our employees, but of our partners
a zero-tolerance stance on harassment, ensuring and users as well. We implement a Group-
protection for all employees, partners, and users wide supporting mechanism to ensure all
through comprehensive supporting mechanisms our employees are protected, no matter
and awareness-raising efforts. Furthermore, where they are. For our partners and users,
our emphasis on local hiring provides job we are committed to raising awareness of
opportunities for communities while ensuring fair different types of harassment, and ensuring
pay and equal rights for all employees, including our ecosystem has the right protective
those with disabilities, and comprehensive mechanisms to eliminate it altogether. We
retirement plans for long-term employee well- have incorporated this in our Code of Conduct
being and financial security. to strengthen our zero-tolerance policy
toward harassment in the workplace.
⚫ Representation: We continue to see increases
in representation for women in our industry, ⚫ Local hiring: We continue our efforts to
which has historically been a male-dominated increase local representation by recruiting
one. We expect this representation to grow as local workers. This policy provides job
we diversify into other sectors and implement opportunities for communities around
more women empowerment initiatives. a project area, with each local hire not
only contributing to the successful
⚫ Gender equality: We do not differentiate on implementation of the project but also
pay and compensation based on gender. We gaining work experience and competency
also foster women’s representation in business development that can be beneficial for the
and management at all levels, particularly individual workers, their families, and their
in middle and senior management. We communities.
support work-family balance by taking a zero-
tolerance stance on discrimination against
pregnant women and workers with family
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Ikhsan Alman Latif, Chief Mine Officer Kideco Jaya Agung
“ M Y Y E A R S O F J O U R N E Y A N D M I L E S TO N E S A S A C H I E F M I N E O F F I C E R
( K E PA L A T E K N I K TA M BA N G ) AT T H E K I D E CO M I N E S I T E A N D A S A PA RT O F
I N D I K A E N E R GY G R O U P H AV E B E E N T R U LY R E M A R K A B L E . T H E C U LT U R E O F
S U P P O RT, CO L L A B O R AT I O N , A N D CO R E VA LU E S O F S O LU S I K I D E CO B R I N G
M E G E N U I N E J OY W H E N I S T E P I N TO W O R K E AC H DAY. I F E E L VA LU E D A N D
A P P R E C I AT E D A S A P E R S O N W H O WA S B O R N A N D R A I S E D I N PA S E R R E G E N C Y,
E A S T K A L I M A N TA N . I T H A S G I V E N M E A N O P P O RT U N I T Y TO CO N T R I B U T E TO
T H E G R O U P ’ S CO M M I T M E N T TO FO S T E R I N G S U S TA I N A B L E D E V E LO P M E N T
W I T H I N T H E LO C A L CO M M U N I T Y H E R E I N M Y H O M E TO W N . I H O P E T H I S J OY F U L
E N E R GY C A N A F F E C T A N D I N S P I R E OT H E R S TO A LWAYS B R I N G A P O S I T I V E
I M PAC T TO T H E P L AC E W H E R E W E W E R E B O R N A N D R A I S E D.”
⚫ Fair pay and equal rights: We are committed to providing The program consists of:
a living wage for all of our employees. Our pay is based on
thorough and objective benchmarks and market insights, ⚫ Pre-pension debriefing to give employees a better
therefore our lowest compensation ranges, including for understanding of the financial and health management
entry-level positions, are well above the local minimum expectation, which is provided at least three years before
wage. [GRI 202-1]. We do not differentiate on pay and employees enter retirement age.
compensation based on gender, age, ethnicity, or other
⚫ Pension debriefing, which is provided two years before
demographic aspects. Benefits provided to employees
employees enter retirement, with various options:
include social security and health insurance, meal and
entrepreneurship, certification, and spiritual debriefing.
transportation allowance, communication allowance,
[GRI 201-3]
annual leave allowance, holiday allowance (THR), paid
leave, parental leave, etc. These benefits apply to all full- ⚫ Training to prepare employees for retirement focuses
time/permanent employees and part-time/temporary on issues of mental and physical health, and financial
employees alike [GRI 401-2]. management.
⚫ Disability inclusion: We make sure to nurture our people In 2023, our subsidiary Kideco started the first and second
equally, and that includes welcoming people with batches of Kideco Pensionpreneur, a program offering new
disabilities to join our workforce. skills and preparing employees to be entrepreneurs in their
retirement. The program aims to impart at least 30% soft skills
⚫ Retirement plan: We strive to provide equal and fair
and 70% practical knowledge relevant to food and beverage,
opportunities for all employees, from the recruitment
plantations, fisheries, and livestock small business.
process, career development, as well as retirement. The
Pension Protection program aims to maintain a decent As of December 31, 2023, Indika Energy Group employs
standard of living for employees and/or their heirs after 3,579 individuals. Gender, age, nationality, and educational
they enter retirement age, experience permanent total background diversity are showcased below [GRI 405-1]:
disability, or death. The training provided focuses on
psychological, health and financial management aspects,
with the training material being delivered through various
methods, such as classroom, roleplay and business visits.
[GRI 404-2]
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2,908/81.2% 671/18.8%
Gender
MALE FEMALE
1,083 2,084 412
Age Group
<30 YEARS OLD 30 - 50 Y E A R S O L D >50 Y E A R S O L D
4 257 2,012
Educational
D O C TO R AT E MASTER’S DEGREE BAC H E LO R ’ S D E G R E E
Background
314 992
A S S O C I AT E D E G R E E E L E M E N TA RY TO H I G H S C H O O L
3,555 1 1 5
Nationality
INDONESIAN B U LG A R I A N FILIPINO S O U T H KO R E A N
2 3 4 1
AMERICAN AUSTRALIAN SINGAPOREAN NEW ZEALANDER
1 1 5
CANADIAN T R I N I DA D & TO BAG O N I A N INDIAN
For further details on 2023 perfomance, please see Appendix
Page 87
A special focus on special-needs children From 10 to 13 August 2023, Kideco and the Indika Foundation joined forces in the Kideco Cares for Disabled Communities (DREAMS) program, aimed at mentoring, empowering, and enhancing inclusion competency among teaching staff, parents, and children with special needs in Batu Sopang subdistrict, Paser, East Kalimantan. With 149 teaching staff and parents and 50 children in attendance, the program sought to make a positive impact on the community, fostering the development of the children’s potential within a supportive ecosystem. The program comprised various activities, including Focus Group Discussions (FGDs) involving teaching staff, parents, and experienced professionals in sustainable inclusive community development. Participants shared insights on disability conditions and identified needs to foster an inclusive ecosystem supporting the children’s development. There were also training sessions for teaching staff and parents, focusing on “Optimizing the Growth and Development of Children with Disabilities” led by occupational therapy experts. These sessions aimed to equip participants with a deeper understanding of the sensory needs and effective learning approaches for children with special needs, fostering optimal growth and development. The DREAMS activities concluded with a learning and playing session, allowing the practical application of training methods by teaching staff and parents. Beyond being playful and educational, these moments fostered interaction, knowledge sharing, and supportive bonds, nurturing holistic growth within the community. Through the DREAMS program, Kideco and the Indika Foundation aim to cultivate an active Disability Care Community in Batu Sopang to play a pivotal role in creating an inclusive environment that embrace and support individuals with special needs, thereby challenging stigmas and fortifying efforts toward inclusivity and empowerment. “My views of disability changed. At first, I just thought disabled people were people who had shortcomings. After participating in this activity, I realized that everyone has the same potential, rights and opportunities. I would like to thank Kideco Jaya Agung and the Indika Foundation for organizing this activity. I hope this is just the beginning and there will be other programs that raise disability issues, especially in Batu Sopang.” - Mrs. Wahidah, a parent of a special-needs child.
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P T I N D I K A E N E R GY T B K .
03.3
—
Promoting Safety
in the Indika Energy Group
I N T H E I N D U S T R I E S I N W H I C H I N D I K A E N E R GY O P E R AT E S , S A F E T Y CO M E S F I R S T A N D
F O R E M O S T. W E M A I N TA I N A S T R O N G E M P H A S I S O N O C C U PAT I O N A L H E A LT H A N D S A F E T Y
(O H S ) , N U RT U R I N G A C U LT U R E O F S A F E T Y T H AT G O E S B E YO N D B OX-T I C K I N G A N D LO O K S
AT WAYS TO A N T I C I PAT E A N D M I T I G AT E P OT E N T I A L R I S K S . BY B E I N G CO N S TA N T LY O N O U R
TO E S , W E S T R I V E TO C R E AT E T H E S A F E S T P O S S I B L E W O R K S PAC E T H AT W I L L A L LO W O U R
E M P LOY E E S TO P E R F O R M AT T H E I R B E S T.
Compliance with health and
safety standard
We are strict about our adherence to ISO regulations, and implementing management
45001:2018 for Occupational Health and Safety review. [GRI 403-2]
Management System standards as well as the
prevailing national standards and industry health Each business unit has their own hazard
and safety certification such as the Occupational identification, risk assessment, and incident
Health and Safety Management System (SMK3) investigation procedures. In Kideco’s case, each
certification that applies for all stakeholders department has the duty and responsibility to
(internal and external) in accordance with identify hazards, assess a risk, and record them
Government Regulation No. 50/2012. Kideco’s using a predetermined form. Every supervisor,
OHS system also complies with Government Department Leader, and Safety Representative
Regulation No.26/2018. in each department actively carries out reviews
periodically at least once a year or if new activities
Our health and safety management system covers and equipment occur in the department and if an
our permanent and full-time employees as well accident occurs. [GRI 403-2]
as temporary/contract workers and those under
third parties (subcontractors/vendors). It also We implement Industry 4.0 technology for
covers all business activities. [GRI 403-1, 403-8] occupational health and safety. This includes
leveraging digital tools for quick decision-making,
The Company also implements evaluation safety improvement, and productivity boost with
and continuous improvement to the OHS efficient use of resources; using mobile apps
management system, which includes carrying out HAZOB, BBS, and PTO and SHEPRO provide
self-assessment audits internally and externally, access to real-time reporting and notification for
investigating incidents to ensure continuous any unsafe condition in the workplace. [GRI 403-2]
improvement and to prevent any recurrence,
evaluating compliance with regulations,
following up on existing gaps in compliance with
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
The Company has established programs on health goals, to the implementation and evaluation of
and OHS facilities such as [GRI 403-3]: the management system. At the subsidiary level, a
formal health and safety committee is established
⚫ Promotive Program: Dissemination of with the aim of conducting regular inspections
information on health issues concerning the and monitoring in work areas, as well as collecting
work environment and illness in general. valuable quarterly feedback from workers
regarding health and safety management. [GRI
⚫ Preventive Program: Prevention of health
403-4]
issues among employees through regular
check-ups. Regular training and awareness programs are
conducted for employees about occupational
⚫ Curative Program: Provision of consultation,
health and safety. Health and safety training
medication, and treatment facilities for
can be delivered either by an employee within
employees who experience workplace
the organization or by an external party
accidents or illness.
with expertise in health and safety, such as
⚫ Rehabilitative Program: Provision of therapy government authorities. Employees are provided
to improve physical condition after an with safety training related to specific activities
employee experiences workplace accident or undertaken within the project, in accordance
illness, to allow them to return to work. with their respective scope of work, such as
working at heights, confined spaces, basic lifting
Furthermore, the Company has also established and rigging, chemical handling, lock out tag out,
various facilities to support the health of and excavation safety. Basic occupational health
employees, including [GRI 403-3]: and safety knowledge is also shared with all
employees and visitors to project sites. [GRI 403-5]
⚫ Emergency response facility in the form of a
rescue vehicle, emergency equipment and The Company also implements strict internal
first-aid kit. policies to identify and control risk hazards
including permit to work, safety target, safety
⚫ Health care facility in the form of a first-aid
scorecard, OHS audit (internal and external), and
room or clinic where permitted.
safety investigation. [GRI 403-7]
⚫ Proper working environment and facilities in
the form of a safe and comfortable working Promoting mental health and
space or area considering all elements, wellness [GRI 403-6]
including lighting, temperature, air
In our commitment to the health and well-being
circulation, noise level, shock level, and dust,
of our employees beyond the workplace, we
to be within ideal range in line with applicable
have implemented several initiatives to ensure
regulations.
our workforce has comprehensive access to non-
⚫ The Company also collaborates with local occupational medical and healthcare services.
clinics and hospitals in the event of an Recognizing the importance of preventative care
emergency. and health education, we hold regular informal
health and safety talks that cover a wide range
Related to emergency response, we have an of topics, from maintaining a healthy lifestyle to
Emergency Response Plan that outlines the managing chronic diseases. These sessions are
actions that must be done in response to an open to all employees and aim to foster a culture
incident or an emergency as well as the roles and of health awareness and self-care.Additionally,
responsibilities of the Crisis Management Team. our communications strategy includes the
[GRI 403-3] distribution of posters and materials related
to health, ensuring that vital information is
We engage with workers to provide input and
accessible to everyone within the organization.
participate in developing and implementing
A standout initiative is the I Reborn program,
health and safety management systems. We
launched by our subsidiary Kideco, which focuses
involve worker representatives, especially senior
on preventing diseases related to obesity. This
managers, who are also involved in all activities of
program encourages both employees and
the occupational health and safety management
contractors to achieve and maintain a healthy
system, starting from determining the company’s
body weight and Body Mass Index (BMI),
occupational health and safety policies, setting
providing them with the tools and motivation to
do so.
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P T I N D I K A E N E R GY T B K .
Moreover, understanding the significant impact Health and safety performance
of HIV/AIDS on communities, we conduct periodic During the year, we maintained our lost-time
testing, underscoring our commitment to the injury rate (LTIR) at 0.00, and managed to reduce
overall health of our employees. Through these our total recordable incident rate (TRIR) to 0.01
efforts, we aim to create a supportive environment from the previous year (0.05), despite recording 2
that empowers our employees to take control of incidents at Interport.
their health, ensuring they have the necessary
resources and support to access medical and While we endeavored to ensure all systems and
healthcare services outside of occupational safeguards were in place to keep employees safe
requirements. on the job, unfortunately we did experience the
fatality of 2 contractor workers at our operation at
Kideco in 2023.
Kideco prioritizes safety in all its operational
ZERO
activities. A comprehensive investigation has
E M P LOY E E FATA L I T I E S been conducted to analyze the root causes of the
incident and develop necessary corrective actions,
improvements and mitigation strategies as a
TWO prevention of repeating accidents. Kideco also
carries out reassessment of all high-risk activities
CO N T R AC TO R FATA L I T I E S and conducts general safety talks and periodically
conducts audits of mining contractors to ensure
that all safety procedures have been fulfilled and
TWO all personnel are aware of applicable work safety
regulations and procedures.
E M P LOY E E W O R K- R E L AT E D I L L H E A LT H
CASES
ZERO
H I G H - CO N S E Q U E N C E I N J U R I E S
TWO
R E CO R DA B L E I N C I D E N T S
For further details on 2023 perfomance,
please see Appendix
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
03.4
—
Community Development
I N D I K A E N E R GY ’ S CO N T R I B U T I O N TO T H E I N D O N E S I A N E CO N O M Y M A K E S U S A P O S I T I V E FO R C E
A N D D R I V E R O F E CO N O M I C G R O W T H I N T H E CO U N T RY. S I N C E T H E FO R M AT I O N O F T H E I N D I K A
E N E R GY G R O U P, O U R CO L L E C T I V E R E AC H H A S E X PA N D E D S I G N I F I C A N T LY - TO U C H I N G T H E L I V E S O F
M I L L I O N S O F CO M M U N I T Y M E M B E R S , LO C A L V E N D O R S , A N D S U P P L I E R S . A S S U C H , W E B E L I E V E W E
A R E U N I Q U E LY P O S I T I O N E D A N D H AV E A R E S P O N S I B I L I T Y TO CO N T I N U E B E I N G A P O S I T I V E FO R C E
I N A L L O P E R AT I O N S W H E R E W E O P E R AT E , A N D O N T H E L I V E S O F A L L T H O S E W H O D E P E N D O N U S .
A L A R G E M A J O R I T Y O F O U R S TA K E H O L D E R S ( E M P LOY E E S , LO C A L CO M M U N I T I E S , S U P P L I E R S ) R E LY
O N O U R O P E R AT I O N S F O R T H E I R L I V E L I H O O D S A N D TO S U P P O RT T H E I R FA M I L I E S .
Local communities’ engagement as Sanggar Seni Tari Rebuntung as part of its
commitment to support the indigenous peoples’
We engage with communities in all of the areas
traditional arts and cultural activities. In 2023, we
where we operate and conduct assessments to
had no incidents of violations involving the rights
ensure that we are meeting their needs through
of indigenous people. [GRI 411-1]
our community development programs [GRI 413-
1]. Through these assessments, we also seek to In every operational area we aim to deliver
identify any potential negative impacts that our significant contributions to societies — by
operations may bring to the communities and providing easier access to education, health, as
how we can mitigate them [GRI 413-2]. We also well as empowering the community. Through
continue to facilitate community development our community’s program we create jobs, drive
programs, vocational training courses and economic development, and generate revenue for
entrepreneurial skill building. society.
We maintain mechanisms to collect, record,
and address complaints or grievances from Education
local communities. The community can submit
feedback or complaints directly to the program Kideco’s teacher training and tkills
manager or to Indika Energy Group at the company enhancement program:
level via email, website, telephone, and visits to Our company forged valuable partnerships with
the local Indika Energy Group office. Feedback and district-level teacher forums, culminating in the
complaints are recorded in accordance with the participation of 425 educators. This initiative
policies at each company in the group. [GRI 2-25] encompassed an extensive range of training
sessions held for teachers across diverse regions,
We also respect the indigenous communities
including Batu Sopang, Muara Samu, Kuaro,
around the operating areas by supporting the local
Muara Komam, Long Ikis, Long Kali, Tanah Grogot,
cultures. Kideco establishes relationships with
Paser Belengkong, Batu Engau, and Tanjung
traditional social groups of the local community.
Harapan. The curriculum was thoughtfully
The company provides financial support for
designed to encompass a variety of innovative
all activities held by these social groups, such
teaching methodologies, such as project-based
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P T I N D I K A E N E R GY T B K .
learning, integrated literacy for children, digital Latimojong Public Health Center, intensifying our
and literacy learning, and Minimum Competency outreach in the villages of Latimojong subdistrict.
Assessments, covering educational stages from This includes providing “Midwife Kit” equipment
kindergarten through to high school. Each training to ten village midwives operating within mining-
module was meticulously tailored to meet the adjacent communities, further enhancing our
specific needs of the educators, facilitated in close support network.
coordination with the Department of Education
and Teacher Forums, thereby reinforcing our
Interport’s stunting prevention program
commitment to elevating the quality of education
Prospective brides and grooms are a crucial
and fostering a sustainable impact on future
point for providing education on how to prevent
generations.
stunting, because they are the ones who will plan,
give birth and care for the children who make
Kideco’s Perpustakaan Keliling: up the nation’s next generation. Improving the
We proudly operate three specially equipped quality of preparation for prospective brides and
vehicles, each serving as a beacon of knowledge grooms is carried out by Interport through the
and learning on wheels. These mobile libraries provision of guidebooks or pocket materials as
are not just transporters of books; they are fully- reference sources. This guidebook, of which more
fledged educational hubs, offering an impressive than 75 copies have been distributed, contains
collection of 13,055 books, making 73 school visits, the basic tenets of Islamic marriage, generation
and facilitating 250 book-lending transactions. planning, and how to provide healthy food to
Beyond the tangible resources, the program babies and children. One of the materials that
is enhanced with multimedia equipment and is planned to be added is related to parenting
dedicated storytellers, transforming each patterns. Through this book, it is hoped that
visit into a dynamic and engaging learning prospective brides and grooms will be able to
experience. This initiative underscores our increase their literacy about stunting prevention
commitment to promoting literacy and making and communicate with the nearest health
education accessible to all, thereby contributing workers and family planning extension workers
significantly to the sustainable development of when needed.
our communities.
Economic empowerment
Health
Masmindo’s local economic
In line with Indika Energy’s flagship program
empowerment program
to reduce the level of stunting prevalence in
Indonesia, Indika Energy’s subsidiaries also carry Economic self-sufficiency within the community
out stunting interventions programs in their has been significantly strengthened through the
respective operational areas. optimization of the natural resources found in
the agriculture and plantation sectors. This has
been achieved by facilitating the establishment
Masmindo’s stunting prevention of horticulture demonstration plots in Boneposi
Program Village. These plots serve as an educational
In our dedicated effort to mitigate and address medium, introducing a variety of vegetables
stunting, the Masmindo program in Luwu district, that are easy to cultivate, tailored to the local
particularly in Latimojong subdistrict, shines as a geographical and climatic conditions, and are
beacon of hope and nourishment. Our program, combined with short-term fruit plants. For long-
centered on the provision of Supplementary term cultivation, the focus is on coffee cultivation
Feeding (PMT), benefits an average of 250-275 integrated with beekeeping, implemented across
individuals monthly across eight villages. A three villages (Boneposi, Toklajuk, and Ulusalu),
key component of this initiative is empowering designating these areas as coffee commodity
health cadres through training in the preparation clusters. To facilitate easier access to capital for
of nutritious and healthy food. Utilizing locally farmers and small businesses, Masmindo has
sourced ingredients such as moringa leaves and partnered with the Regional Development Bank
sweet potatoes, they craft a variety of ready-to- (BPD) of South Sulawesi, Belopa branch. This
eat meals aimed at meeting the nutritional needs holistic approach not only advances agricultural
of children. In a collaborative stride towards practices and productivity but also fosters
stunting prevention, we have partnered with the economic empowerment and sustainability
Luwu Stunting Prevention Task Force and the within the community, underscoring our
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
commitment to supporting and enhancing the
livelihoods of those we serve. 400,000+
B E N E F I C I A R I E S O F O U R CO M M U N I T Y
Indika Nature’s hydroponic vegetable D E V E LO P M E N T P R O G R A M S
cultivation training
Indika Nature’s commitment to fostering
sustainable development and empowerment IDR 66.1 BILLION
is vividly illustrated through our hydroponic
vegetable cultivation program in Prayon. By S P E N D I N G O N CO M M U N I T Y
providing training and financial assistance to 12 D E V E LO P M E N T P R O G R A M S
members of the local Family Welfare Movement
(PKK), we have initiated a transformative journey
towards economic and environmental resilience. 1,400+
This initiative not only enhances participants’
skills, leading to potential additional income E M P LOY E E S H I R E D F R O M LO C A L
streams, but also plays a crucial role in bolstering CO M M U N I T I E S
food security through the adoption of cutting-
edge hydroponic farming techniques.
47
INDIVIDUALS IN THE SENIOR
M A N AG E M E N T H I R E D F R O M LO C A L
CO M M U N I T I E S [G R I 202- 2 ]
Respecting Traditional Customs
In a symbolic gesture of respect and cultural harmony, Indika Nature conducted a Hutan
Melas ceremony to mark the initiation of its subsidiary, Telaga Mas Kalimantan, into the
Swan Slutung Village territory.
This ceremony, deeply rooted in local tradition, sought blessings from ancestors and the
Creator to safeguard against potential perils as the company ventures into new terrain.
The procession commenced with the Traditional Leader reciting a prayer while throwing
colorful rice grains in the air as a symbolic offering of blessings. Containers filled with rice,
adorned with coconut leaves and candles were then ceremoniously passed over the heads
of company representatives, signifying the receipt of ancestral blessings.
Central to the ceremony was the solemn sacrifice of a buffalo, preceded by a prayer seeking
permission from the ancestors. Chickens with vibrant plumage, believed to be auspicious
offerings, were also sacrificed. Following the rituals, villagers and company representatives
alike marched to a designated area in the forest to inter the buffalo’s head, while the
remaining meat was prepared for a traditional communal feast later in the day.
Beyond its cultural significance, the Hutan Melas ceremony exemplifies values of
collaboration, cooperation, tolerance, and social welfare. While Indika Nature and TMK
initiated the event, it was the active participation of the local community that was integral
to its success. Chiefs, traditional elders, community leaders, and government officials were
joined by representatives of youth organizations, social groups, and women’s associations,
all contributing their expertise in traditional ceremonies and culinary skills.
Through this collaborative endeavor, Indika Nature not only demonstrated respect for local
customs and ancestors but also forged meaningful connections with the community, laying
the groundwork for a harmonious and mutually beneficial relationship as we embarked on
our venture in Swan Slutung Village.
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EVs and Solar Photovoltaic for an Eco- Friendly Tourism Village In a collaborative effort on 15 April 2023, ALVA and the Youth Ecco Indonesia Foundation handed over two ALVA One electric motorbikes to Genggelang Village in North Lombok, West Nusa Tenggara. This event marked a significant milestone, introducing electric vehicles (EVs) to the village and promoting sustainable transportation solutions while also fostering environmental consciousness. Village officials and local business owners were invited to participate in a month-long trial of the ALVA electric bikes. At the end of the trial period, in June, the bikes were assigned for use in guided village tours, part of a wider effort to support the village’s ecotourism activities. To further promote sustainability and educate the community, the Youth Ecco Indonesia Foundation conducted workshops in local schools under the banner “Ecco Goes to School.” These workshops highlighted the benefits of EVs as environmentally friendly transportation options, with a focus on ALVA’s electric motorbikes. The foundation also organized “ALVA Explore by Ecco,” an educational initiative showcasing the practical applications of EVs in daily life and travel. This activity featured a journey from the provincial capital, Mataram, to Genggelang, a distance of 68 kilometers. Alongside promoting EV usage, the event aimed to raise awareness of Genggelang Village as a tourist destination. In celebration of World Environment Day, Ecco also hosted “ECHOES of the Forest,” an environmental concert that saw Genggeleng also receive solar panels from EMITS. With the integration of renewable energy sources, such as solar power, into the EV ecosystem, Genggelang Village took a significant step towards sustainability. Together, these initiatives not only enhance the viability of EVs in the village but also make Genggelang a sustainable tourism destination, attracting visitors keen on experiencing eco-friendly transportation and renewable energy initiatives firsthand.
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03.5
—
Human Rights and Grievance Mechanism
W H E R E V E R I N D I K A E N E R GY O P E R AT E S , O U R A P P R OAC H TO A N D E N G AG E M E N T W I T H LO C A L CO M M U N I T I E S
I S A LWAYS G R O U N D E D F I R S T A N D FO R E M O S T I N R E S P E C T FO R H U M A N R I G H T S . W E A R E P R O U D O F T H I S
R E CO R D A N D A R E CO M M I T T E D TO N OT J U S T M A I N TA I N I N G I T, B U T TO A L S O B U I L D E V E N S T R O N G E R
R E L AT I O N S W I T H T H E CO M M U N I T I E S , A S PA RT O F O U R A M B I T I O N TO B E T H E B E S T CO R P O R AT E C I T I Z E N
W E C A N B E . TO L E R A N C E A N D CO O P E R AT I O N A R E T H E FO U N DAT I O N S O F I N D O N E S I A N S O C I E T Y, A N D W E
A R E P R O U D TO R E F L E C T T H O S E P R I N C I P L E S I N AC T I O N .
Respect for human rights [GRI 2-25] Whistleblowing system [GRI 2-25]
We are committed to identifying and handling Our whistleblowing system provides a formal
the risks and human rights impacts associated grievance mechanism to address any concerns
with our activities, including the rights of our from all stakeholders, including employees and
employees and local communities who may be external parties. It is accessible via mail, email,
affected by our activities. We stand against the fax, telephone, and a dedicated website 24/7 in
use of child, forced, or exploited labor, as well as both Indonesian and English to ensure greater
forced or exploitative working conditions, and accessibility. We also welcome inputs from
ensure our partners comply with regulations. [GRI other channels and avenues outside the formal
408-1, 409-1] grievance mechanism, including legacy media,
social media, and other platforms. We treat these
In locations and sites where there is a higher inputs with the same high level of professionalism
likelihood of conflict, Indika Energy is careful to and make every effort to resolve issues that are
engage on a basis of respecting human rights. brought to our attention.
The security forces we work with must understand
and respect the rights of our employees and the
communities living our operations, which is why Grievances
we are careful to ensure our security forces have Indika Energy has a policy related to handling
been trained and socialized as to the importance employee complaints, stipulated in CLA Chapter
of respecting human rights. We also conduct VII Industrial Relations Article 133 on Employee
assessments to identify areas of improvement in Complaints and Article 134 on the Settlement
our security personnel training. [GRI 410-1] of Employee Complaints. Complaints from
employees can be submitted directly to the
supervisor, who will then find a solution and
way out of the problem. If the complaint cannot
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
be resolved structurally, the employee has the
right to submit it to the union to be resolved in
a bipartite manner. Afterward, if the complaint
cannot be resolved in a bipartite manner, it will be
resolved in a tripartite manner with reference to
the prevailing employment Laws and regulations
[GRI 2-25]. These processes also involve inputs
from stakeholders, including employee
representatives, in designing and proposing
improvements to these mechanisms [GRI 2-25].
Collective bargaining agreements [GRI
2-30, 407-1]
Indika Energy recognizes employees’ right to
organize and believes that diverse opinions and
views, if well communicated, can enrich the
group. Employees have the opportunity to form
labor unions as a channel for communication with 11 GRIEVANCES
management, and to date there are nine such
labor unions within Indika Energy Group: Serikat W E R E C E I V E D 11 G R I E VA N C E S A B O U T
Pekerja Seluruh Indonesia (SPSI), Serikat Buruh L A B O R P R AC T I C E S , W H I C H A L L H AV E
Sejahtera Indonesia (SBSI), Serikat Independen B E E N A D D R E S S E D A N D R E S O LV E D.
Serikat Pekerja Paser (SPP), and Serikat Pekerja
Batubara (SP BARA). These labor unions serve
as communication channels for all employees to 400 EMPLOYEES
share their aspirations for the company’s growth
W E R E CO R D E D A TOTA L O F 400
and better working relations. Besides the Group’s
E M P LOY E E S T H AT A R E R E P R E S E N T E D BY
policies and regulations, freedom of association
L A B O R U N I O N S ( 369 M A L E , 31 F E M A L E ) .
is also assured under Indonesian employment
laws and International Labour Organization
For further details on 2023 perfomance, please see Appendix
conventions. Currently, we have not recorded the
number of employees at Indika Energy Group that
are covered by collective bargaining agreements,
but no operations were found at risk of violating
workers’ rights to exercise freedom of association
and collective bargaining.
DESCRIPTION 2021 2022 2023
Total no. of grievances filed about labor practices 25 33 11
No. of grievances about labor practices
25 33 11
that were addressed and resolved
No. of grievances about labor practices
filed prior to the reporting period that were 25 33 11
resolved during the reporting period
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
SDG
2-9, 2-10, 2-11, 2-12, 2-13, 2-14, 2-15, 2-16, 2-17, 2-1 8 ,
GRI 2-19, 2-20, 2-22, 2-23, 2-24, 2-25, 2-26, 2-27, 2-2 8 ,
205-1, 205-2, 205-3, 3-3
G L O B A L C O M PA C T P R I N C I P L E 1, P R I N C I P L E 2, P R I N C I P L E 10
WEF SCM G OV E R N A N C E A N D P R O S P E R I T Y P I L L A R S
GOVERNANCE
A S O U R B U S I N E S S CO N T I N U E S TO G R O W A N D I M PAC T, E N S U R I N G P R O P E R
M A N AG E M E N T A N D D I S C LO S U R E O F E S G I N O U R G OV E R N A N C E S T R U C T U R E
I S O F T H E U T M O S T I M P O RTA N C E . U LT I M AT E LY, A L L I N D I K A E N E R GY G R O U P ’ S
S E N I O R L E A D E R S H I P A R E AC CO U N TA B L E FO R O U R E S G P E R FO R M A N C E ,
I N C LU D I N G H O W E F F E C T I V E W E A R E AT I N T E G R AT I N G I T I N TO O U R
CO M PA N Y ’ S O P E R AT I O N S .
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
04.1
—
Our Robust Governance Structures
OUR FOCUS IS ON LO N G -T E R M VA L U E C R E AT I O N FOR ALL OUR S TA K E H O L D E R S :
W E D E F I N E A N D M E A S U R E T H I S VA L U E I N L I N E W I T H H O W E F F E C T I V E LY W E M A N AG E O U R
M AT E R I A L E S G I S S U E S , A S W E L L A S T H E I M PA C T A N D O U T C O M E S O F O U R E F F O R T S O N
A L L O U R S TA K E H O L D E R S , N OT J U S T O U R C O M PA N Y. I N E N S U R I N G T H I S I S A LO N G -T E R M
P R I O R I T Y, W E H AV E E M B E D D E D R E L E VA N T E S G B E S T P R A C T I C E S I N TO O U R G OV E R N A N C E
S T R U C T U R E A N D M A N AG E M E N T P R O C E S S E S .
As Indonesia’s leading diversified investment performance, including how effective we are at
company, we believe we have a meaningful integrating it into our company’s operations. Our
role to play in responding to and supporting ESG strategy and priorities are set once a year and
solutions to some of the most pressing issues in updated quarterly. The Board of Commissioners
the country. Our business, by its nature, is driven reviews the Group’s ESG performance at the start
by collective growth and makes an inherently of every financial year (prior to the publication
positive impact in the communities where we of the Sustainability Report), to sign off on our
operate empowerment of the nation and its progress and disclosures.
people. This provides us with the foundation to
operate ethically, comply with relevant local laws Moreover, the Company’s corporate governance
and regulations, as well as ensure the highest process is performed by referring to policies
levels of trust, safety, and transparency across our stipulated by the Company, namely Board Charter,
ecosystem. Audit, Risk and Compliance Committee Charter,
Project and Investment Committee Charter,
Since our inception, we have grown significantly. Nomination and Remuneration Committee
Today, we manage portfolios comprising a Charter, and Sustainability Committee Charter.
wide range of businesses with strong growth
opportunities, including renewable energy, Pursuant to the Company Law, general structure
nature-based solutions, electric vehicle ecosystem, of corporate governance comprises Shareholders
logistics and infrastructure, minerals, and digital with General Meeting of Shareholders forum
technology – all in line with our commitment to as the highest decision maker, and Board of
energize Indonesia for a sustainable future. Commissioners and Board of Directors who serve
as the organ in carrying out management and
As our business continues to grow and impact, supervisory duties on business activities [GRI
ensuring proper management and disclosures of 2-11].
ESG in our governance structure is of the utmost
importance. Ultimately, all Indika Energy Group’s
senior leadership are accountable for our ESG
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P T I N D I K A E N E R GY T B K .
O R G A N I Z AT I O N S T R U C T U R E
Board of Commissioners
AGUS LASMONO
RICHARD B. NESS
Audit, Risk and Compliance INDRACAHYA BASUKI
Committee EKO PUTRO SANDJOJO
FARID HARIANTO
Project and Investment
Committee
President Director
M. ARSJAD RASJID P.M.
Vice President Director
Internal Audit & Group CEO
EINSTEIN ERLANGGA AZIS ARMAND
Director & Group Chief Director & Group Chief
Financial Officer Investment Officer
RETINA ROSABAI PURBAJA PANTJA
Chief Human Capital Officer Head -Treasury Head –Finance & Accounting Head –Business Development
LEONARDUS HERWINDO LISTA KUSNADI (ACT) LISTA KUSNADI ADI D. SHIMA
Head –Human Capital &
Head –Investor Relations Business Development
Services
BENI PANDU GAUTAMA RICARDO SILAEN TAMMAM JANNATA
as coordinating function Head –Corporate Finance
to align the synergy
NICKY M. KURNIAWAN
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Nomination
& Remuneration Committee
Sustainability Committee
Head-Corporate Communications,
Sustainability & CEO Office
RICKY FERNANDO
Corporate Secretary
ADI PRAMONO
Director & Group Chief CEO ofAnak
CEO
CEO Subsidiaries
AnakPerusahaan
Perusahaan
CEO
CEOofofSubsidiaries
Subsidiaries
Portfolio Officer
KAMEN K. PALATOV
Chief Risk & Compliance
Chief Risk & Compliance Officer
Officer
-VACANT- LUCAS DJUNAIDI
Head –Corporate Planning &
Head –Legal
Portfolio Management
MUTHIA H. SOEBAGJO DYAH PARAMITA
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P T I N D I K A E N E R GY T B K .
business by considering environmental, social
Role and responsibilities [GRI and governance aspects. We believe that an
2-12] effective Sustainability Committee will enhance
the Company’s sustainability in conducting
General Meeting of Shareholders (GMS)
its business, so that it will promote openness
The GMS is the Company’s highest institution. and objectivity in addressing issues relating to
Indika Energy’s corporate governance structure sustainability which in turn would improve the
is determined at the General Meeting of quality of decisions at the Board of Commissioners
Shareholders (GMS), which appoints members and the Board of Directors levels.
of the Board of Commissioners and Board of
Directors, and of the various committees that
support their function. [GRI 2-10]
The Board of Directors
The Board of Directors is the organ of the Company
In 2023, the Annual General Meeting of that is authorized and takes full responsibility for
Shareholders was held on April 19, 2023, and management of the Company for the benefit of
served as a forum to pass resolutions and gain the Company, in accordance with the purposes
approval for matters related to the company’s and objectives of the Company, and to represent
business and operations. In the structure of the company, both inside and outside the court in
the corporate governance body, the highest accordance with the Articles of Association of the
governance body consists of two levels: the Board Company. The Board of Directors is responsible
of Commissioners as the Supervisory Board, and to the GMS as a form of accountability for the
the Board of Directors as the Executive Board. management of the Company in accordance with
Both Boards also hold responsibility for making the principles of good corporate governance.
decisions on sustainability topics that cover
economic, environmental, social, and governance,
and for reviewing and approving all sustainability Independence
reporting materials. [GRI 2-14] As of December 31, 2023, the Board of
Commissioners consists of a President
Commissioner, a Vice President Commissioner,
The Board of Commissioners
a commissioner, and two Independent
The Board of Commissioners is the organ of Commissioners. They hold tenures as
the Company responsible for supervising the Commissioners ranging from one to five years.
company’s policies and management of the The two Independent Commissioners meet
Company conducted by the Board of Directors, the requirements of not being affiliated with
both with regards to management of the Indika Energy, fellow members of the Board of
Company and the Company’s business, and Commissioners or the Board of Directors, auditing
to advise the Board of Directors’ in executing parties, or major shareholders.
their role. The Board of Commissioners shall
perform its duties independently and ensure the
implementation of good corporate governance. Delegation of roles
The Board of Commissioners shall report to the The Board of Commissioners shall set their
GMS on execution of their duties in overseeing the distribution of work among the members, with
implementation of the Company’s management. the focus area of supervision of each member
of the Board of Commissioners refers to the
As of December 31, 2023, the Board of Directors division of roles as Chairman and Vice Chairman
consists of a President Director, a Vice President of Committees that support the duties and
Director, and three Directors, ranging in age from responsibilities of the Board of Commissioners
48 to 56 years. One of the five members of the based on the competencies and experiences [GRI
Board of Directors is a woman. [GRI 2-9] 2-13].
⚫ Audit, Risk, and Compliance - Eko Putro
Sustainability Committee
Sandjojo
The Company established a Sustainability
Committee in 2021 as part of its commitment ⚫ Project and Investment - Farid Harianto and
to support sustainability of the Company’s Eko Putro Sandjojo
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
⚫ Nomination and Remuneration - Agus ⚫ Attendance level in the meeting of the Board
Lasmono and Farid Harianto of Directors as well as meetings with the
Board of Commissioners.
⚫ Sustainability - Indracahya Basuki, Eko Putro
Sandjojo and Farid Harianto
Competency development of the
highest governance body [GRI
ESG-linked key performance 2-17]
indicators [GRI 2-18]
Indika Energy is committed to operating in a
ESG-linked KPIs are set annually at the Group level, sustainable manner. The Company’s executive
during the company’s planning cycles. A quarterly officers have the appropriate knowledge
business review ensures progress and updates on and competencies to implement sustainable
ESG-linked KPIs reported directly to our Group practices. Indika Energy regularly engages the
CEO. The Sustainability Function is responsible for Company’s Board of Directors and Board of
overseeing ESG-related policies and strategy on Commissioners in various sustainability oriented
all material topics, defining sustainability goals programs, discussions, conferences, and training.
and targets, periodically reviewing the company’s Throughout 2023, all members of the Board of
performance, and providing recommendations to Commissioners participated in the Indika Energy
continuously improve the operationalization of Summit as part of their competency development
ESG-linked roadmaps. program, while several BOD members also
ESG is a key tenet in building and planning participated in short courses on sustainability-
for our company’s longevity and resilience. related issues.
The Indika Energy Group Risk Management
Framework was established to identify key risks Remuneration policies [GRI 2-19,
within the business, guide us to review our 2-20]
management of environmental and social risks
As set forth in POJK 34, in carrying out the
the same way we do all material risks, and is in
functions of the remuneration, the Human Capital
alignment with ISO 31000 on Risk Management.
Committee shall formulate the remuneration
This ensures environmental and social
structure of the members of the Board of Directors,
risks are reviewed and managed with the
develop remuneration policy for members of the
same rigor as other key business risks; they
Board of Directors, and prepare the remuneration
are proactively identified, addressed, and
amount for members of the Board of Directors.
reviewed with respect to the management
approach on an ongoing basis. The respective The remuneration structure of the Board of
Business leaders are then held responsible for the Directors may include salaries, honorarium,
implementation of risk management strategies, incentives, and/or allowances that are fixed and/
policies, and processes. or variable. Furthermore, in the preparation of the
structure, policies, and amount of remuneration
The criteria for the performance evaluation of the
referred to above, the following must be taken
Board of Directors are determined by the Board of
into consideration:
Commissioners based on the KPIs, which include
the following [GRI 2-24]: 1. Prevailing remuneration practices in similar
industries in accordance with the Company’s
⚫ The achievement of targets set out in the
operations
Company’s Work Plan Budget.
2. The duties, responsibilities and authority of
⚫ Contributions to the Company’s business
Board of Directors members linked to the
activities.
achievement of the goals and performance of
⚫ Involvement in certain assignments. the Company
⚫ Commitment to advancing the interests of 3. Target performance or the performance of
the Company. individual members of the Board of Directors.
⚫ Adherence to the prevailing laws and 4. A balance of benefits between fixed and
regulations, and the Company’s policies. variable components.
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P T I N D I K A E N E R GY T B K .
SHORT TERM BENEFIT OF SHORT TERM BENEFIT OF
THE BOARD OF COMMISSIONER THE BOARD OF DIRECTORS
(IN US$) (IN US$) TOTA L
1,863,524 6,369,380 8,232,904
1,704,543 6,228,988 7,933,531
3,171,505 4,200,795
1,029,290
2021 2022 2023 2021 2022 2023 2021 2022 2023
5. The structure, policy and amount of The Group is managed professionally without any
remuneration shall be evaluated by the conflict of interest and influence from any party
Nomination and Remuneration Committee against the applicable laws and regulations and
each year. healthy corporate principles. Our Code of Business
Conduct addresses the topic of conflicts of interest.
The structure, policy, and amount of remuneration This principle is applied by, among others, paying
for the Board of Commissioners is evaluated by mutual respect to rights, obligations, duties,
the Nomination and Remuneration Committee. authorities, and responsibilities among the
However, the remuneration applicable in similar Company’s organs such as the Shareholders and
industries, as well as the members’ duties and Board of Commissioners that do not intervene
performance linked to achievement of Company in the Company’s management. The Board
goals are also taken into consideration in the of Commissioners, Board of Directors, and all
development of the remuneration structure [GRI employees continue to avoid conflict of interest in
2-20]. the decision-making process.
Conflicts of interest [GRI 2-15] Communication of critical
The Company maintains a clear segregation concern [GRI 2-16]
between personal interests and the Company’s Indika Energy also nurtured an open
interests and avoids any situation that may communication within the company. We
result in or be perceived as a conflict of interest communicate frequently through a series of
between the Company’s and personal interests to Board of Commissioners, Board of Directors and
avoid any conflicts of interest. This applies to all Committee meetings. During crisis events, we
members of the Board of Directors and Board of activate our cross-functional team, full-time
Commissioners. During 2023, neither the Board of senior leader, and high-level decision-making
Commissioners nor the Board of Directors of Indika authority, to construct a detailed scenario of the
Energy had any familial or financial relations with main primary and secondary threats, covering
fellow members of the Board of Commissioners, planning and intelligence gathering, stakeholder
members of the Board of Directors, and Major stabilization, technical or operational resolution,
and/or Controlling Shareholders. recovery, investigation, and governance.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Policies and code of business
conduct [GRI 2-23, 2-24]
In 2022, we developed new policies and renewed Our Code of Business Conduct is a set of guidelines
existing ones to reflect our current sustainability to ensure we always carry out our operations in an
commitments more accurately. Some of the ethical and responsible manner. All employees at
new policies we developed are the Human all organizational levels across the Indika Energy
Capital and Human Rights Policy, Third Party Group are required to comply with these policies;
Engagement Policy, Environmental Policy, Health violations may lead to disciplinary actions,
and Safety Policy, and the Communications Policy. including termination of employment [GRI 2-24].
Development and implementation of these
policies is overseen by the Board of Directors. All Through our subsidiaries, we have started
employees at all organizational levels across the developing a Supplier Code of Conduct that
Indika Energy Group are required to comply with applies the same standards to all our partners
these policies. To ensure the level of awareness and third-party organizations we engage with.
and understanding across the Group, we conduct Our Code of Business Conduct covers the issues
a series of training, socialization through town of employees; health, safety, and environment;
hall meetings and discussion forums for leaders integrity; information management; company
and management such as BOC BOD Induction, asset record, control and protection; and reporting
as well for employees in general through internal of non-compliance, investigation and disciplinary
publications and discussion forums. [GRI 2-4] sanctions.
For further details regarding Indika Energy’s
policies, please visit www.indikaenergy.co.id/
governance/gcg-updates
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
04.2
—
Operating with Ethics and Integrity
AT I N D I K A E N E R GY, W E S T R I V E TO M A I N TA I N T H E T R U S T A N D CO N F I D E N C E O F O U R P E O P L E ,
CO N S U M E R S , A N D PA RT N E R S , A S W E L L A S OT H E R S TA K E H O L D E R S A F F E C T E D BY O U R
O P E R AT I O N S A N D T H E P U B L I C . B U S I N E S S E T H I C S A N D I N T E G R I T Y A R E F U N DA M E N TA L
VA LU E S AC R O S S T H E I N D I K A E N E R GY G R O U P. T H E S E A R E T H I N G S T H AT W E E X P E C T F R O M
A L L E M P LOY E E S , B U S I N E S S PA RT N E R S A N D OT H E R S TA K E H O L D E R S A S A N E S S E N T I A L PA RT
O F P R AC T I C I N G G O O D G OV E R N A N C E , CO M P L I A N C E P R E VA I L I N G L AW S A N D R E G U L AT I O N S [G R I
2 -2 7 ] .
We have strong policies and systems in place to
ensure ethical conduct in our company and the
Anti-bribery and corruption [GRI
larger partner ecosystem. Our Code of Conduct
205-1, 205-3, 2-27]
embeds ethical business practices into the fabric Indika Energy implements an Anti-Bribery
of our organization. This means we take a zero- Management System across the Group, and the
tolerance approach to conduct such as bribery, Anti-Bribery Compliance Function is responsible
and we do not engage in political activities such as for ensuring compliance with prevailing rules
donations, endorsements, or lobbying. and regulations. Last year we conducted a re-
assessment to obtain renewal of the certification
We maintain a culture of ethics and compliance and to demonstrate our continued commitment
throughout Indika Energy and uphold a robust to business integrity and ethics. The Anti-Bribery
anti-bribery and corruption management system. Compliance Function continued to implement
ABMS across the Company, raising awareness
Indika Energy Ethics Committee assists the Board
about ABMS and the Anti-Bribery and Corruption
of Directors in following up the report received by
Policy.
the Company through a whistleblowing system.
For each report received, the Ethics Board will In compliance with these standards, Indika
report it to the Board of Directors. The Ethics Energy Holding as well as the subsidiaries,
Committee has duties and responsibilities, conduct annual Bribery Risk Assessments (BRAs)
including supervision of business ethics to identify, analyze, assess, and prioritize the
and behavior, counseling all employees and bribery risks that must be anticipated by functions
stakeholders regarding the Company’s Code of and business lines, as well as to evaluate the
Business Conduct, adjusting the rules related to effectiveness of the existing controls to mitigate
ethics with developments, receiving, monitoring such risks [GRI 205-1]
and follow up on reports of ethical misconduct
received.
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P T I N D I K A E N E R GY T B K .
We establish the procedures that define the The Ethics Committee is responsible for following
methodology, criteria and competence of up and reporting grievances and reports submitted
appropriate auditors, and the corrective actions through the whistleblowing system to the Board
taken. The audit results are reported to the of Directors. Upon receiving the report, the
Governing Body, the Board of Directors, and the Committee discusses whether the report needs to
Anti-Bribery Compliance Function. The audits be investigated further. If an investigation is to be
review procedures, controls and systems for done, the Committee is responsible for preparing
bribery or suspected bribery, violation of the anti- a report that covers the results of the investigation
bribery policy or ABMS requirements, failure of a and a recommendation of action. The Corporate
business partner to comply with lndika Energy’s Secretary and Legal Department are also required
anti-bribery requirements, and weaknesses in or to report the number of whistleblowing reports
opportunities for improvement to the ABMS. received, the medium used by each whistle-
blower, and the results of the investigations (if
In compliance with these standards, Indika
any) to the Board of Commissioners, President
Energy Holding as well as the aforementioned
Director, the Audit, Risk, and Compliance
subsidiaries, conduct annual internal Bribery Risk
Committee, the Human Capital Committee, and
Audits to identify, analyze, assess, and prioritize
the Good Corporate Governance Committee, every
the bribery risks that must be anticipated by
three months.
functions and business lines, as well as to evaluate
the effectiveness of the existing controls to
mitigate such risks. No significant risks related to Raising awareness [GRI 205-2,
corruption were identified in 2023. The Group also 205-3]
recorded no incidents of corruption for 2023. [GRI To nurture a corporate culture of ethical behavior,
205-1] all newly hired employees receive training on
the Code of Business Conduct and are required
Whistleblowing system [GRI to read and sign it to show their commitment
2-26] to complying with the regulations. Aside from
our own employees, we also communicate the
Since December 2013, Indika Energy has had a
mitigation of bribery and corruption risks to 100%
whistleblowing system in place for reporting
of our business partners, including vendors and
violations or noncompliance. This system
subcontractors, through our Integrity Pact, which
serves as a platform for complainants to submit
we require them to read and sign.
data and information regarding indications of
violations in any of the companies in the Group. Throughout 2023, the Ethics Committee and the
The whistleblowing system is available to all Anti-Bribery Compliance Function also raised
employees, suppliers, customers and other awareness of the Code of Business Conduct, the
third parties. To ensure its accessibility, the Anti-Bribery Management System (including
whistleblowing system can be accessed via email, the Anti-Bribery and Corruption Policy), and
mail, telephone, fax, and a dedicated website. the Whistleblowing Program through various
From 2021, the system is also made available in channels: regular emails, updates on the website,
both Indonesian and English. banners, desktop wallpapers, employee surveys,
and refresher courses.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
We regularly organize anti-bribery sessions to inform
employees about its harmful impacts and encourage
ethical behavior, thereby nurturing a culture of
integrity and compliance throughout the company.
At the Group level, we are proud to report that 100%
of our employees have received communication
and socialization on our anti-corruption policies
and procedures. We also regularly conduct risk
assessment and communications related to anti-
corruption in Indika Energy. [GRI 205-2, 205-3].
To break down details on the number of
employees and governance bodies receiving
communication or training on anti-corruption
policies and procedures by employee category
and region is something that we need to explore
in the future as many of our employees work in
different locations. [GRI 205-2]
57.8%
57.8% O R 2, 070 E M P LOY E E S H AV E
U N D E R G O N E T H E A N T I - CO R R U P T I O N
TRAINING
100%
100% O R 86 M E M B E R S O F G OV E R N A N C E
B O D I E S H AV E B E E N CO M M U N I C AT E D TO
A N D T R A I N E D O N A N T I - CO R R U P T I O N
POLICIES AND PROCEDURES
3,579
100% O R 3, 579 E M P LOY E E S H AV E
B E E N CO M M U N I C AT E D TO O N
A N T I - CO R R U P T I O N P O L I C I E S A N D
PROCEDURES
100%
100% O F O P E R AT I O N S I N I N D I K A E N E R GY
G R O U P A S S E S S E D FO R R I S K S R E L AT E D
TO CO R R U P T I O N
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Statement of Members of the Board of
Commissioners and Board of Directors
regarding Responsibility for the 2023
Sustainability Report
We, as the Board of Commissioners and Board of Directors of Indika Energy, have evaluated the contents of
this Sustainability Report and state that the report covers all sustainability aspects that are relevant to Indika
Energy. We are responsible for the accuracy of the contents of this Sustainability Report, including financial
statements and other related information.
Jakarta, March 2024
Agus Lasmono M. Arsjad Rasjid P.M.
President Commissioner President Director
Richard Bruce Ness Azis Armand
Vice President Commissioner Vice President Director
Indracahya Basuki Retina Rosabai
Commissioner Director
Farid Harianto Purbaja Pantja
Independent Commissioner Director
Eko Putro Sandjojo Kamen Kamenov Palatov
Independent Commissioner Director
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ASSURANCE STATEMENT
SGS INDONESIA’S REPORT ON SUSTAINABILITY ACTIVITIES IN THE
PT. INDIKA ENERGY Tbk SUSTAINABILITY REPORT 2023
NATURE OF THE ASSURANCE/VERIFICATION
PT. SGS Indonesia was commissioned by PT. Indika Energy Tbk to conduct an independent assurance of the
Sustainability Report 2023. The scope of the assurance, based on the SGS Sustainability Report Assurance
methodology, included the text, and data in accompanying tables, contained in this report.
INTENDED USERS OF THIS ASSURANCE STATEMENT
This Assurance Statement is provided with the intention of informing all PT. Indika Energy Tbk’s stakeholders.
RESPONSIBILITIES
The information in the Report and its presentation are the responsibility of the directors or governing body and
the management of PT. Indika Energy Tbk. SGS has not been involved in the preparation of any of the material
included in the Report.
Our responsibility is to express an opinion on the text, data, graphs and statements within the scope of verification
with the intention to inform PT. Indika Energy Tbk’s stakeholders.
ASSURANCE STANDARDS, TYPE AND LEVEL OF ASSURANCE
The SGS ESG & Sustainability Report Assurance protocols used to conduct assurance are based upon
internationally recognised assurance guidance and standards including the principles of reporting process
contained within the Global Reporting Initiative Sustainability Reporting Standards (GRI Standards) GRI 1:
Foundation 2021 for report quality, GRI 2 General Disclosure 2021 for organisation’s reporting practices and other
organizational detail, GRI 3 2021 for organisation’s process of determining material topics, its list of material topics
and how to manages each topic, and the guidance on levels of assurance contained within the AA1000 series of
standards.
The assurance of this report has been conducted according to the following Assurance Standards:
• SGS ESG & SRA Assurance Protocols (based on GRI Principles and guidance in AA1000)
• AA1000ASv3 Type 2 (AA1000AP Evaluation) with level of assurance is Moderate.
Assurance has been conducted at a moderate level of scrutiny
SCOPE OF ASSURANCE AND REPORTING CRITERIA
The scope of the assurance included evaluation of quality, accuracy and reliability of specified performance
information as detailed below and evaluation of adherence to the following reporting criteria:
• Global Reporting Initiative Sustainability Reporting Standards 2021 (in accordance)
• AA1000 Accountability Principles (2018)
ASSURANCE METHODOLOGY
The assurance comprised a combination of pre-assurance research and interviews with relevant accountable
managers and employees at the Head Office of PT. Indika Energy Tbk’s in Jakarta via remote, sampling for
2 (two) subsidiaries, site PT. Kideco Tbk in Kalimantan Timur via remote and PT. Interport Mandiri Utama in
Kalimantan Timur via remote. PT. Indika Energy Tbk’s Sustainability Report 2023 covers PT. Indika Energy
Tbk’s, Subsidiaries, Joint Ventures, and Associated Companies .
GP5008 Issue 7
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LIMITATIONS AND MITIGATION Financial data drawn directly from independently audited financial accounts has not been checked back to source as part of this assurance process. Some statements and data within the scope were not assured due to lack of accessible records during the timescale allowed for assurance, and these are clearly marked throughout the Report. STATEMENT OF INDEPENDENCE AND COMPETENCE The SGS Group of companies is the world leader in inspection, testing and verification, operating in more than 140 countries and providing services including management systems and service certification; quality, environmental, social and ethical auditing and training; environmental, social and sustainability report assurance. SGS affirm our independence from PT. Indika Energy Tbk , being free from bias and conflicts of interest with the organisation, its subsidiaries and stakeholders. The assurance team was assembled based on their knowledge, experience and qualifications for this assignment, and comprised auditors registered with International Register of Certificated Auditors (IRCA), Environmental Management System (EMS) Lead Auditor, Quality Management System (QMS) Lead Auditor, Occupational Health and Safety Management System Lead Auditor, the IRCA Corporate Responsibility. FINDINGS AND CONCLUSIONS ASSURANCE/VERIFICATION OPINION On the basis of the methodology described and the assurance work performed, we are satisfied that the disclosure with inclusivity, materiality, responsiveness, and impact information in the scope of assurance is reliable, has been fairly stated and has been prepared, in all material respects, in accordance with the reporting criteria. We believe that the organisation has chosen an appropriate level of assurance for this stage in their reporting. QUALITY AND RELIABILITY OF SPECIFIED PERFORMANCE INFORMATION It is recommended to perform external assurance annualy in order to increase the robustness, accuracy, trustworthiness of disclosed information and to implement any recommended improvements. ADHERENCE TO AA1000 ACCOUNTABILITY PRINCIPLES (2018) Inclusivity PT. Indika Energy Tbk’s has made a commitment to be accountable to those on whom it has an impact or who have an impact on it as stated in some Policies such as Environment Policy, Safety and Health Policy, and Code of Conduct. Inclusivity is the participation of stakeholders in developing and achieving an accountable and strategic response to sustainability. Process of engagement and participation that provides comprehensive and balanced involvement and results in strategies, plan, action and outcomes that address and respond to issues and impacts in an accountable way. The company has a process of stakeholder participation (all stakeholders) through periodic meeting with stakeholders. Materiality PT. Indika Energy Tbk’s has identified stakeholders and those issues that are material to each group of stakeholders and the report addresses these at an appropriate level to reflect their importance and priority to these stakeholders. In order to establish Key Material issues for Sustainability Report 2023, PT. Indika Energy Tbk’s conducted Materiality Assessment Survey to PT. Indika Energy Tbk’s stakeholders, the result of the Survey is presented in the Sustainability Report 2023. Materialities are GHG emissions and energy, Water and effluents, Waste management, Land use and biodiversity, Employment, Diversity, inclusion, and equal opportunity, Occupational health and safety, Local communities, Economic performance, Corporate governance. GP5008 Issue 7
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Responsiveness PT. Indika Energy Tbk’s has responded to stakeholders issues that affect to its sustainability performance and is released through decisions, actions and performance, as well as communication with stakeholders. Impact PT. Indika Energy Tbk’s has identified and fairly represented impacts that were monitored and measured. PT. Indika Energy Tbk’s has established processes to monitor, measure and evaluate impacts that lead to effective decision making management within organization. ADHERENCE TO GLOBAL REPORTING INITIATIVE SUSTAINABILITY REPORTING STANDARDS (2021) In our opinion, the PT. Indika Energy Tbk’s Sustainability Report 2023 is presented in accordance with the Global Reporting Initiative Sustainability Reporting Standards 2021 and fulfills all the required content and quality criteria. Foundation In our opinion, the content and quality of the report adheres to the GRI Reporting Principles of Accuracy, Balance, Clarity, Comparability, Completeness, Sustainability context, Timeliness and Verifiability. General Disclosures All the General disclosures required for reporting in accordance with the Global Reporting Initiative Sustainability Reporting Standards 2021. Material Topics PT. Indika Energy Tbk disclose material topics that represent an organization’s most significant impacts on the economy, environment, and people, in accordance with Global Reporting Initiative Sustainability Reporting Standards 2021. Signed: For and on behalf of SGS Indonesia Waras Putri Andrianti Business Manager Jakarta, Indonesia 01 April 2024 WWW.SGS.COM GP5008 Issue 7
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P T I N D I K A E N E R GY T B K .
Glossary
A B
Annual total compensation Baseline
Compensation provided over the course of a An initial set of critical data used for comparison
year anti-competitive behavior action of the to data in following years.
organization or employees that can result in
collusion with potential competitors, with
the purpose of limiting the effects of market
C
competition Carbon Scope 1 and Scope 2 intensity
Anti-trust and monopoly practice The carbon Scope 1 and 2 intensity is calculated as
a ratio of Scope 1 and 2 location-based emissions
Action of the organization that can result of Indika Energy-operated industrial assets owned
in collusion to erect barriers for entry to the at the end of the reporting year, divided by their
sector, or another collusive action that prevents coal production (in Tons) and by revenue (in USD
competition area of high biodiversity value area million). Further synonyms of these metrics used
not subject to legal protection, but recognized in this report include ‘emissions intensity’ and
for important biodiversity features by a number ‘greenhouse gas emissions intensity’.
of governmental and non-governmental
organizations CO2eq (Carbon dioxide equivalent)
Area protected The universal unit of measurement for the global
warming potential (GWP) of greenhouse gases
Area that is protected from any harm during (GHG), where one unit of CO2eq is the GWP for
operational activities, and where the environment one unit of carbon dioxide. This unit allows us to
remains in its original state with a healthy and discuss the equivalence of different GHGs in terms
functioning ecosystem area restored area that of their GWP. More commonly measured in metric
was used during or affected tons of CO2eq, or tonCO2eq.
by operational activities, and where remediation Collective bargaining
measures have either restored the environment
to its original state, or to a state where it has a All negotiations that take place between one or
healthy and functioning ecosystem more employers or employers’ organizations,
on the one hand, and one or more workers’
organizations (e.g., trade unions), on the other,
for determining working conditions and terms of
employment or for regulating relations between
employers and workers
Community development program
Plan that details actions to minimize, mitigate, or
compensate for adverse social and/or economic
impacts, and/ or to identify opportunities or
actions to enhance positive impacts of a project on
the community
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It’s Always Sunny
SUSTAI NABI LI TY RE PO RT 2 0 2 3
at Indika Energy
Conflict of interest scopes depending on source.
Situation where an individual is confronted GRI
with choosing between the requirements of
The Global Reporting Initiative (GRI) is
their function in the organization and their
an international independent standards
other personal or professional interests or
organisation that develops and disseminates
responsibilities
voluntary sustainability reporting frameworks.
E Grievance process
Effluent A formal grievance process/mechanism for local
community members or other stakeholders to use
Treated or untreated wastewater that is
to register any concerns about real or perceived
discharged
actions by nearby operations, with the objective
Employee of resolving problems before they escalate.
Individual who is in an employment relationship
with the organization according to national law or
H
practice Hazardous
ESG Dangerous, as defined by national legislation.
Environmental, social and governance. Hours worked
Total hours worked by employees and contractors
F at our industrial sites, including overtime but
Freedom of association excluding any scheduled or unscheduled absence
(eg holidays or sickness) during the reporting year.
Right of employers and workers to form, to join
and to run their own organizations without prior
authorization or interference by the state or any
I
other entity IECAB
Indika Energy Cerdaskan Anak Bangsa, a
G scholarship program initiated by Indika Energy
GHG (Greenhouse gas)
ILO
Greenhouse Gas Protocol Standards and guidance
The International Labour Organization (ILO) is a
for corporate accounting and reporting on GHG
United Nations agency for the promotion of social
emissions, which help governments and business
justice and internationally recognised human and
leaders to understand, quantify, and manage
labor rights.
GHG emissions (eg CO2). The Greenhouse Gas
Protocol separates GHG emissions into different
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P T I N D I K A E N E R GY T B K .
ILO Declaration P
In 1988, the ILO adopted the Declaration on Paris Agreement
Fundamental Principles and Rights at Work,
An agreement within the United Nations
with the core categories of collective bargaining,
Framework Convention on Climate Change,
discrimination, forced labour and child labour.
dealing with GHG emissions mitigation,
IPCC adaptation, and finance, signed in 2016.
The United Nations Intergovernmental Panel PPCA
on Climate Change (IPCC) assesses scientific,
Powering Past Coal Alliance
technical and socioeconomic information on the
risk of human induced climate change. The United PV
Nations Environment Programme and the World
Meteorological Organization established the Photovoltaic
IPCC.
S
L Scope 1 emissions
LTIs
Greenhouse gas emissions from owned or
Lost time injuries (LTIs) are recorded when an controlled sources (i.e. direct emissions),
employee or contractor is unable to work following including emissions from combustion in owned or
an incident. We record lost days as beginning on controlled boilers, furnaces and vehicles/vessels
the first rostered day that the worker is absent and coal seam emissions. We measure our Scope
after the day of the injury. The day of the injury is 1 emissions in tonCO2eq.
not included. LTIs do not include restricted work
injuries (RWIs) and fatalities. Scope 2 emissions
LTIR This approach applies GHG emissions from
contractual arrangements; we apply supplier-
The lost time injury rate (LTIR) is the total number specific emission factors when relevant and
of LTIs recorded per 200,000 hours worked. available, but where they are not, the country’s
residual or grid emission factor is applied. We
measure our Scope 2 emissions in tonCO2eq.
O
OECD Scope 3 emissions
The Organisation for Economic Cooperation Indirect greenhouse gas emissions (not included
and Development (OECD) is an international in Scope 2) that occur in our value chain, including
organization that provides a forum in which both upstream and downstream emissions. We
governments can work together to share are currently exploring ways to calculate scope 3
experiences and seek solutions to tackle economic, emissions.
social, environmental and governance challenges.
SDG
Occupational disease
Sustainable Development Goals
Any chronic ailment or illness that occurs because
Senior Management
of work or occupational activity; these are typically
identified as being more prevalent in a given Senior Management refers to the individuals
body of workers than in the general population, working in positions such as Chairman, CEO,
or in other worker populations. An occupational President, Executive Director and other senior
disease is different from an occupational injury. staff (including Vice President and Senior Vice
President) in organizations who manage a specific
area of the business and ensure the provision of
resources for successful delivery of projects
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
U Water withdrawal
United Nations Global Compact (UNGC) Total amount of water drawn into the boundaries
of the reporting organization from all sources for
The UNGC is a voluntary initiative based on
any use over the course of the reporting period.
CEO commitments to implement universal
Includes surface water, groundwater, seawater,
sustainability principles and to take steps to
and water imported from third parties.
support the UN Sustainable Development Goals.
United Nations Guiding Principles the United Workforce
Nations Guiding Principles on Business and
Human Rights are a set of guidelines for states References to our workforce include both
and companies to prevent, address and remedy employees and contractors.
human rights abuses committed in business
operations.
Universal Declaration of Human Rights
The Universal Declaration of Human Rights is a
common standard for all peoples and all nations
that sets out fundamental human rights to be
universally protected.
V
Voluntary Principles
The Voluntary Principles on Security and Human
Rights (Voluntary Principles) Initiative is a multi-
stakeholder initiative involving governments,
companies and NGOs, which promotes a set of
principles for oil, gas and mining companies
to guide them in providing security for their
operations in a manner that respects human
rights.
W
Water discharge
Total amount of effluents, used water, and unused
water released to surface water, groundwater,
seawater, or a third party, for which the
organization has no further use, over the course of
the reporting period.
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P T I N D I K A E N E R GY T B K .
Global Reporting Initiative (GRI)
Content Index
PT Indika Energy Tbk. has reported the information in accordance with the GRI Standards 2021,
Statement of use
as cited in this GRI content index for the period 1 January 2023 to 31 December 2023
GRI 1 used GRI 1: Foundation 2021
G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
GRI 2: General Disclosures 2021 2-1 Organizational details 25, 26, 28
2-2 Entities included in the organization’s 11
sustainability reporting
2-3 Reporting period, frequency and contact point 14
2-4 Restatements of information 14
2-5 External assurance 14
2-6 Activities, value chain and 22, 25
other business relationships
2-7 Employees Appendix
2-8 Workers who are not employees Appendix
2-9 Governance structure and composition 104
2-10 Nomination and selection of 104
the highest governance body
2-11 Chair of the highest governance body 101
2-12 Role of the highest governance body in 104
overseeing the management of impacts
2-13 Delegation of responsibility 104
for managing impacts
2-14 Role of the highest governance 104
body in sustainability reporting
2-15 Conflicts of interest 106
2-16 Communication of critical concerns 43, 106, Appendix
2-17 Collective knowledge of the 105
highest governance body
2-18 Evaluation of the performance 105
of the highest governance body
2-19 Remuneration policies 105
2-20 Process to determine remuneration 105
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G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
2-21 Annual total compensation ratio We currently do
not disclose data
on compensation.
2-22 Statement on sustainable 40, 51
development strategy
2-23 Policy commitments 47, 56, 107
2-24 Embedding policy commitments 105, 107
2-25 Processes to remediate negative impacts 57, 91, 95, 96
2-26 Mechanisms for seeking 34, 110
advice and raising concerns
2-27 Compliance with laws and regulations 109, Appendix
2-28 Membership associations 49
2-29 Approach to stakeholder engagement 34
2-30 Collective bargaining agreements 57, 97
GRI 3: Material Topics 2021 3-1 Process to determine material topics 11
3-2 List of material topics 11
3-3 Management of material topics 11, 63, 69, 72, 76,
82, 84, 88, 91, 96
GRI 201: Economic Performance 2016 201-1 Direct economic value 19, 20
generated and distributed
201-2 Financial implications and other risks 43, 44, 48
and opportunities due to climate change
201-3 Defined benefit plan obligations 85
and other retirement plans
201-4 Financial assistance 21
received from government
GRI 202: Market Presence 2016 202-1 Ratios of standard entry level wage by 85
gender compared to local minimum wage
202-2 Proportion of senior management 93
hired from the local community
GRI 203: Indirect Economic Impacts 2016 203-1 Infrastructure investments 21, 22, 57
and services supported
203-2 Significant indirect economic impacts 22
GRI 204: Procurement Practices 2016 204-1 Proportion of spending on local suppliers 21
GRI 205: Anti-corruption 2016 205-1 Operations assessed for 109, 110,
risks related to corruption Appendix
205-2 Communication and training about 110, 111, Appendix
anti-corruption policies and procedures
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G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
205-3 Confirmed incidents of 109, 110, 111,
corruption and actions taken Appendix
GRI 206: Anti-competitive Behavior 2016 206-1 Legal actions for anti-competitive This is currently
behavior, anti-trust, and monopoly practices not considered as
a material topic.
GRI 207: Tax 2019 207-1 Approach to tax This is currently
not considered as
a material topic.
207-2 Tax governance, control, This is currently
and risk management not considered as
a material topic.
207-3 Stakeholder engagement and This is currently
management of concerns related to tax not considered as
a material topic.
207-4 Country-by-country reporting This is currently
not considered as
a material topic.
GRI 301: Materials 2016 301-1 Materials used by weight or volume This is currently
not considered as
a material topic.
301-2 Recycled input materials used This is currently
not considered as
a material topic.
301-3 Reclaimed products and This is currently
their packaging materials not considered as
a material topic.
GRI 302: Energy 2016 302-1 Energy consumption within the organization 66, Appendix
302-2 Energy consumption Appendix
outside of the organization
302-3 Energy intensity 19, Appendix
302-4 Reduction of energy consumption Appendix
302-5 Reductions in energy requirements Appendix
of products and services
GRI 303: Water and Effluents 2018 303-1 Interactions with water as a shared resource 69
303-2 Management of water 70
discharge-related impacts
303-3 Water withdrawal 70, Appendix
303-4 Water discharge 70, Appendix
303-5 Water consumption 70, Appendix
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G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
GRI 304: Biodiversity 2016 304-1 Operational sites owned, leased, managed 76
in, or adjacent to, protected areas and areas of
high biodiversity value outside protected areas
304-2 Significant impacts of activities, 76, 77
products and services on biodiversity
304-3 Habitats protected or restored 76, 77 78
304-4 IUCN Red List species and national 77
conservation list species with habitats
in areas affected by operations
GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 64, 65, 66,
Appendix
305-2 Energy indirect (Scope 2) GHG emissions 65, 66, Appendix
305-3 Other indirect (Scope 3) GHG emissions 64
305-4 GHG emissions intensity 64, 65, Appendix
305-5 Reduction of GHG emissions 65, Appendix
305-6 Emissions of ozone- 65, Appendix
depleting substances (ODS)
305-7 Nitrogen oxides (NOx), sulfur oxides Appendix
(SOx), and other significant air emissions
GRI 306: Waste 2020 306-1 Waste generation and significant 72
waste-related impacts
306-2 Management of significant 72
waste-related impacts
306-3 Waste generated 73, Appendix
306-4 Waste diverted from disposal 73, Appendix
306-5 Waste directed to disposal Appendix
GRI 308: Supplier Environmental 308-1 New suppliers that were screened This is currently
Assessment 2016 using environmental criteria not considered as
a material topic.
308-2 Negative environmental impacts This is currently
in the supply chain and actions taken not considered as
a material topic.
GRI 401: Employment 2016 401-1 New employee hires and employee turnover Appendix
401-2 Benefits provided to full-time 85
employees that are not provided to
temporary or part-time employees
401-3 Parental leave 84, Appendix
GRI 402: Labor/Management 402-1 Minimum notice periods 83
Relations 2016 regarding operational changes
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G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
GRI 403: Occupational 403-1 Occupational health and 88
Health and Safety 2018 safety management system
403-2 Hazard identification, risk 88
assessment, and incident investigation
403-3 Occupational health services 89
403-4 Worker participation, consultation, and 89
communication on occupational health and safety
403-5 Worker training on 89
occupational health and safety
403-6 Promotion of worker health 89
403-7 Prevention and mitigation of 89
occupational health and safety impacts
directly linked by business relationships
403-8 Workers covered by an occupational 88
health and safety management system
403-9 Work-related injuries Appendix
403-10 Work-related ill health Appendix
GRI 404: Training and Education 2016 404-1 Average hours of training Appendix
per year per employee
404-2 Programs for upgrading employee 82, 83, 85
skills and transition assistance programs
404-3 Percentage of employees receiving regular Appendix
performance and career development reviews
GRI 405: Diversity and Equal 405-1 Diversity of governance 85, Appendix
Opportunity 2016 bodies and employees
405-2 Ratio of basic salary and Appendix
remuneration of women to men
GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination 82
and corrective actions taken
GRI 407: Freedom of Association 407-1 Operations and suppliers in which 57, 97
and Collective Bargaining 2016 the right to freedom of association and
collective bargaining may be at risk
GRI 408: Child Labor 2016 408-1 Operations and suppliers at significant 57, 96
risk for incidents of child labor
GRI 409: Forced or 409-1 Operations and suppliers at significant 57, 96
Compulsory Labor 2016 risk for incidents of forced or compulsory labor
GRI 410: Security Practices 2016 410-1 Security personnel trained in 47, 57, 96
human rights policies or procedures
GRI 411: Rights of Indigenous 411-1 Incidents of violations involving 91, Appendix
Peoples 2016 rights of indigenous peoples
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G R I S TA N DA R D D I S C LO S U R E PAG E OMISSION
GRI 413: Local Communities 2016 413-1 Operations with local community 91
engagement, impact assessments,
and development programs
413-2 Operations with significant actual and 91
potential negative impacts on local communities
GRI 414: Supplier Social Assessment 2016 414-1 New suppliers that were This is currently
screened using social criteria not considered as
a material topic.
414-2 Negative social impacts in the This is currently
supply chain and actions taken not considered as
a material topic.
GRI 415: Public Policy 2016 415-1 Political contributions 99
GRI 416: Customer Health 416-1 Assessment of the health and safety The requirement
and Safety 2016 impacts of product and service categories does not apply to
the organization
based on the nature
of its businesses.
416-2 Incidents of non-compliance concerning the The requirement
health and safety impacts of products and services does not apply to
the organization
based on the nature
of its businesses.
GRI 417: Marketing and Labeling 2016 417-1 Requirements for product and The requirement
service information and labeling does not apply to
the organization
based on the nature
of its businesses.
417-2 Incidents of non-compliance concerning The requirement
product and service information and labeling does not apply to
the organization
based on the nature
of its businesses.
417-3 Incidents of non-compliance The requirement
concerning marketing communications does not apply to
the organization
based on the nature
of its businesses.
GRI 418: Customer Privacy 2016 418-1 Substantiated complaints The requirement
concerning breaches of customer does not apply to
privacy and losses of customer data the organization
based on the nature
of its businesses.
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P T I N D I K A E N E R GY T B K .
Stakeholder Capitalism Metrics (SCM) Index
THEME CORE METRIC PAG E
Governance
Governing Purpose Setting purpose 28
Quality of Governing Body Governance body composition 104, 105
Stakeholder Engagement Material issues impacting stakeholders 12
Anti-corruption 109, 110, 111
Ethical Behavior
Protected ethics advice and reporting mechanisms 96, 97
Risk and Opportunity Oversight Integrating risk and opportunity into business process 43 - 48
Planet
Greenhouse Gas emissions 63 - 67
Climate Change We have not followed
TCFD implementation TCFD recomendation
this year.
Nature Loss Land use and ecological sensitivity 76, 77, 78
Freshwater Availability Water consumption and withdrawal in water-stressed areas 70, Appendix
People
Diversity and inclusion 84, 85, Appendix
Pay equality 84
Dignity and Equality We currently do not disclose
Wage level
data on compensation.
Risk for incidents of child, forced or compulsory labor 57, 96
Health and Wellbeing Health and safety 88, 89, 90, Appendix
Skills for the Future Training provided 82, 83, Appendix
Prosperity
Absolute number and rate of employment Appendix
Employment and wealth generation Economic contribution 21, 22
Financial investment contribution N/A
Innovation in better products and services Total R&D expenses N/A
Community and social vitality Total tax paid 21
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
UN Global Compact Index
THEME PRINCIPLE PA G E
Human Rights 1. Businesses should support and respect the protection 96, 97
of internationally proclaimed human rights
2. Businesses should make sure that they are not 96, 97
complicit in human rights abuses.
Labor 3. Businesses should uphold the freedom of association and the 97
effective recognition of the right to collective bargaining
4. Businesses should uphold the elimination of all 96
forms of forced and compulsory labor
5. Businesses should uphold the effective abolition of child labor 57
6. Businesses should uphold the elimination of discrimination 82 - 85
in respect of employment and occupation
Environment 7. Businesses should support a precautionary 60 -78
approach to environmental challenges
8. Businesses should undertake initiatives to promote 60 -78
greater environmental responsibility
9. Businesses should encourage the development and 60 -78
diffusion of environmentally technologies
Anti-corruption 10. Businesses should work against corruption in all of 109 - 111
its forms, including extortion and bribery
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P T I N D I K A E N E R GY T B K .
Appendix
Appendix A: Emissions and Energy
GHG emissions at Indika Energy [GRI 305-1, 305-2, 305-5]
DESCRIPTION UNIT 2021 % 2022 % 2023
Scope 1 emissions tCO2e 1,197,167 -3.50% 1,155,280 -11.41% 1,023,433
Scope 2 emissions tCO2e 3,866 41.81% 5,482 19.95% 6,576
Total Scope 1 & 2 emissions tCO2e 1,201,033 -3.35% 1,160,762 -11.26% 1,030,009
Note:
⚫ Gases included in the calculation: CO2, CH4, N2O. GWP rates used for calculating Scope 1 and 2 emissions are based on the Intergovernmental Panel on
Climate Change (IPCC) Fifth Assessment Report (AR5): CO2 = 1, CH4 = 28, N2O = 265. [GRI 305-1, 305-2]
⚫ 2021 Scope 1 and 2 GHG emissions data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and 2023 figures
include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding.
⚫ Indika Energy uses the operational control to consolidate emissions data. Indika Energy consolidates the data from these subsidiaries quarterly through
the use of an internal ESG Dashboard [GRI 305-1, 305-2].
⚫ The following Scope 1 emission factors were derived from DEFRA Greenhouse gas reporting: Conversion factors 2023 document [GRI 305-1]:
⚫ 100% mineral diesel: 0.00256 tCO2e per liter
⚫ B30: 0.00191 tCO2e per liter
⚫ B35: 0.00179 tCO2e per liter
⚫ Refrigerant R-410A: 1.924 tCO2e per kg
⚫ Refrigerant R-134A: 1.3 tCO2e per kg
⚫ Refrigerant R-32: 0.677 tCO2e per kg
⚫ Scope 2 emission factors are derived from the Indonesian Ministry of Energy and Mineral Resources: https://jdih.esdm.go.id/index.php/web/result/2183/
detail. Emission factors were selected based on the grid each operational site is connected to (e.g., Jamali, Mahakam, Barito, etc.) [GRI 305-2]
GHG emissions intensity at Indika Energy [GRI 305-4]
DESCRIPTION UNIT 2021 % 2022 % 2023
tCO2e 835,067 26.99% 1,060,419 -7.79% 977,853
million ton coal
Production-based intensity (coal 37.4 -2.28% 36.6 -13.55% 31.6
production
mining companies only)
tCO2e / ton coal
0.022 29.94% 0.029 6.67% 0.031
production
tCO2e 1,201,033 -3.35% 1,160,762 -11.26% 1,030,009
Revenue-based intensity USD million revenue 3,018 40.21% 4,232 -27.95% 3,049
(all subsidiaries) tCO2e / USD
398 -31.07% 274 23.17% 338
million revenue
Note:
⚫ 2021 Scope 1 and 2 GHG emissions data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and 2023 figures
include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding.
⚫ The intensity calculation includes gases CO2, CH4, and N2O, and covers Scope 1 and 2 GHG emissions. [GRI 305-4]
⚫ 2021 to 2023 production-based intensity parameters are calculated based on Kideco and Indika Indonesia Resources data
⚫ 2021 revenue-based intensity parameters are calculated based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and 2023
revenue-based intensity parameters include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo,
Mekko, Indika Nature, and Indika Energy Holding.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Significant air emissions [GRI 305-7]
DESCRIPTION UNIT 2021 % 2022 % 2023
NOx tons 737.48 -30.03% 516.04 33.67% 689.79
SOx tons 66.82 -97.79% 1.48 50.68% 2.23
Persistent organic pollutants tons 0.00 0.00% 0.00 0.00% 0.00
Volatile organic compounds tons 0.00 0.00% 0.00 0.00% 0.00
Hazardous air pollutants (HAP) tons 0.00 0.00% 0.00 0.00% 0.00
Particulate matter (PM) tons 6.63 -46.30% 3.56 265.17% 13.00
Other standard categories
of air emissions identified
in relevant regulations tons 110.27 -15.81% 92.84 1.57% 94.30
Note:
⚫ The formula used to calculate exhaust gas emissions is concentration (mg/Nm3) x debit (m3/second) x no. of operational hours (hours/ year) x 0.0036
(seconds/hour). Calculations are done based on emissions testing conducted in the laboratory.
⚫ The significant air emissions data includes numbers from Kideco and Petrosea. Due to Petrosea divestment completion in 2022, the 2023 data no longer
includes numbers from Petrosea.
⚫ Both the concentration and debit data are obtained from emissions test results done by the laboratory.
⚫ Other categories of air emissions, e.g. persistent organic pollutants (POP), volatile organic compounds (VOC), etc. are not calculated yet, because they
are not included in the requirements of the aforementioned Ministerial Regulation.
Energy consumption at Indika Energy [GRI 302-1, 302-3, 302-4]
DESCRIPTION UNIT 2021 % 2022 % 2023
Renewable energy consumption GJ 30,295 14016.23% 4,276,513 15.45% 4,937,289
Non-renewable energy
GJ 20,907,962 -46.73% 11,136,943 -11.49% 9,857,355
consumption
Total energy consumption GJ 20,938,257 -26.39% 15,413,456 -4.01% 14,794,645
Note:
⚫ 2021 energy consumption data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika Energy
Holding.
⚫ Indika Energy consolidates the data from these subsidiaries quarterly through the use of an internal ESG Dashboard [GRI 302-1].
⚫ The following conversion factors were derived from DEFRA Greenhouse gas reporting: Conversion factors 2023 document [GRI 302-1]:
⚫ Electricity consumption: 0.0036 GJ per kWh
⚫ Fuel consumption:
⚫ 100% mineral diesel: 0.0357 GJ per liter
⚫ B30: 0.0353 GJ per liter
⚫ B35: 0.0352 GJ per liter
⚫ In 2021, renewable energy consumption only includes use of solar PV, while use of biodiesel is assumed to be non-renewable. For 2022 and 2023 data,
the biodiesel blend in the B30 or B35 is factored into the renewable energy consumption calculation. Types of energy included in the energy intensity
ratio are biodiesel fuel, diesel fuel, solar power, and grid electricity.
⚫ Indika Energy has not calculated energy usage outside the company or reductions in energy requirements of sold products and services because of the
complexity of data and lack of access to data that are not under the company’s control. [GRI 302-2, 302-5]
⚫ There is a restatement for 2022 energy consumption data due to improved calculation method, using a more standardized calculation methodology
and conversion factors.
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Energy consumption by activity source [GRI 302-1]
DESCRIPTION UNIT 2021 % 2022 % 2023
Fuel consumption GJ 20,285,375 -24.16% 15,384,883 -4.00% 14,769,736
Electricity consumption GJ 652,882 -95.62% 28,573 -12.82% 24,908
Cooling, heating, and
GJ 0 0.00% 0 0.00% 0
steam consumption
Total energy consumption GJ 20,938,257 -26.39% 15,413,456 -4.01% 14,794,645
Note:
⚫ 2021 energy consumption data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and 2023 figures
include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and
Indika Energy Holding.
⚫ Indika Energy consolidates the data from these subsidiaries quarterly through the use of an internal ESG Dashboard [GRI 302-1].
⚫ The following conversion factors were derived from DEFRA Greenhouse gas reporting: Conversion factors 2023 document [GRI 302-1]:
⚫ Electricity consumption: 0.0036 GJ per kWh
⚫ Fuel consumption:
⚫ 100% mineral diesel: 0.0357 GJ per liter
⚫ B30: 0.0353 GJ per liter
⚫ B35: 0.0352 GJ per liter
Energy intensity at Indika Energy [GRI 302-3]
DESCRIPTION UNIT 2021 % 2022 % 2023
GJ 14,522,163 -3.88% 13,959,032 -0.47% 13,892,929
Production-based intensity million ton coal
37.4 -2.22% 36.6 -13.55% 31.6
(coal mining companies only) production
GJ / ton coal production 0.39 -1.69% 0.38 15.13% 0.44
GJ 20,938,257 -26.39% 15,413,456 -4.01% 14,794,645
Revenue-based intensity
USD million revenue 3,018 42.70% 4,232 -29.21% 3,049
(all subsidiaries)
GJ / USD million revenue 6,937 -47.50% 3,642 33.23% 4,852
Note:
⚫ Energy intensity ratios use energy consumption within the organization in the calculation, and cover fuel and electricity only, as Indika Energy
does not have consumption from heating, cooling, and steam. [GRI 302-3]
⚫ 2021 to 2023 production-based intensity parameters are calculated based on Kideco and Indika Indonesia Resources data
⚫ 2021 revenue-based intensity parameters are calculated based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2022 and
2023 revenue-based intensity parameters include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens,
Masmindo, Mekko, Indika Nature, and Indika Energy Holding.
Appendix B: Water and effluents
Water withdrawal performance [GRI 303-3]
DESCRIPTION UNIT 2021 % 2022 % 2023
By source
Surface water ML 3,313.34 24.43% 4,122.72 -40.22% 2,464.44
Ground water ML 14.98 -30.44% 10.42 76.47% 18.39
Seawater ML 535.33 40.33% 751.21 -58.16% 314.28
Produced water ML 0.00 0.00% 0.00 0.00% 0.00
Third party water ML 1.08 988.89% 11.76 177.24% 32.60
Total water withdrawal ML 3,864.73 26.69% 4,896.11 -42.20% 2,829.71
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DESCRIPTION UNIT 2021 % 2022 % 2023
By Total Dissolved Solids category
Freshwater (≤1,000
ML 3,329.06 24.45% 4,143.10 -39.89% 2,490.60
mg/L TDS)
Other water (>1,000
ML 535.67 40.57% 753.01 -54.97% 339.11
mg/L TDS)
Total water withdrawal ML 3,864.73 26.69% 4,896.11 -42.20% 2,829.71
million
ton coal 37.4 -2.14% 36.6 -13.63% 31.6
production
ML /
kiloton coal 0.086 30.41% 0.112 -31.81% 0.077
Water withdrawal production
intensity USD
million 3,018 42.70% 4,307 -29.21% 3,049
revenue
ML / USD
million 1.28 -11.22% 1.14 -18.35% 0.93
revenue
Note:
⚫ 2021 and 2022 water-related data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding
⚫ While two of our operational areas are considered areas with water stress according to the World Resources Institute’s Aqueduct Water Risk
Atlas, we have not broken down our water performance data for these areas only.
Water consumption performance [GRI 303-5]
DESCRIPTION UNIT 2 021 % 2022 % 2023
By Total Dissolved Solids category
Freshwater (≤1,000 mg/L TDS) ML 3,329.06 24.45% 4,143.10 -39.94% 2,488.32
Other water (>1,000 mg/L TDS) ML 521.98 41.43% 738.24 -55.20% 330.72
Total water consumption ML 3,851.04 26.75% 4,881.34 -42.25% 2,819.04
Note:
⚫ 2021 and 2022 water-related data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding
⚫ While two of our operational areas are considered areas with water stress according to the World Resources Institute’s Aqueduct Water Risk
Atlas, we have not broken down our water performance data for these areas only.
Water discharge performance [GRI 303-4]
DESCRIPTION UNIT 2021 % 2022 % 2023
By source
Surface water ML 301,007.84 5.58% 317,801.31 -33.13% 212,512.66
Ground water ML 14.06 -52.20% 6.72 -55.05% 3.02
Seawater ML 3.57 1.12% 3.61 8054.57% 294.38
Third party water ML 0.00 0.00% 0.00 100% 1.63
Total water discharge ML 301,025.47 5.58% 317,811.64 -33.04% 212,811.69
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P T I N D I K A E N E R GY T B K .
DESCRIPTION UNIT 2021 % 2022 % 2023
By Total Dissolved Solids category
Freshwater (≤1,000 mg/L TDS) ML 301,021.90 5.58% 317,808.03 -33.13% 212,515.68
Other water (>1,000 mg/L TDS) ML 3.57 0.00% 3.61 0.00% 296.01
Total water discharge ML 301,025.47 5.58% 317,811.64 -33.04% 212,811.69
Note:
⚫ 2021 and 2022 water-related data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding
⚫ While two of our operational areas are considered areas with water stress according to the World Resources Institute’s Aqueduct Water Risk
Atlas, we have not broken down our water performance data for these areas only.
Appendix C: Waste
Waste generated [GRI 306-3]
DESCRIPTION UNIT 2021 % 2022 % 2023
Hazardous waste Tons 5,911 16.25% 6,871 -37.08% 4,324
Non-hazardous waste Tons 5,949 114.36% 12,752 -6.25% 11,956
Total waste generated Tons 11,860 65.46% 19,623 -17.04% 16,279
Hazardous waste by management method [GRI 306-4, 306-5]
DESCRIPTION UNIT 2021 % 2022 % 2023
Reused Tons 216.44 -42.34% 124.79 -97.12% 3.60
Recycled Tons 460.00 -41.89% 267.30 92.38% 514.23
Composted Tons 0.00 0.00% 0.00 0.00% 0.00
Brought to a third party
Tons 2,716.28 15.84% 3,146.61 5.75% 3,327.39
licensed to reuse/recycle
Total waste diverted from disposal Tons 3,392.72 4.30% 3,538.70 8.66% 3,845.22
Incinerated (with energy recovery) Tons 0.00 0.00% 0.00 0.00% 0.00
Incinerated (without energy recovery) Tons 85.00 -19.21% 68.67 -1.08% 67.93
Landfilled Tons 0.00 0.00% 0.00 0.00% 0.00
Brought to a third party
Tons 2,433.40 34.13% 3,263.89 -87.43% 410.41
licensed to dispose waste
Total waste brought to disposal Tons 2,518.40 32.33% 3,332.56 -85.65% 478.34
Note:
⚫ 2021 and 2022 waste-related data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding
⚫ Waste that is brought to a third party (both licensed to reuse/recycle and licensed to dispose) indicates that it is diverted or directed to disposal
offsite, while waste that is included in other categories indicates that it is diverted or directed to disposal onsite.
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Non-hazardous waste by management method [GRI 306-4, 306-5]
DESCRIPTION UNIT 2021 % 2022 % 2023
Reused Tons 315.60 1013.63% 3,514.62 -100.00% 0.00
Recycled Tons 2,019.54 -8.69% 1,843.96 155.98% 4,720.11
Composted Tons 130.35 51.90% 198.00 274.51% 741.53
Brought to a third party
Tons 3.16 110.76% 6.66 996.61% 73.03
licensed to reuse/recycle
Total waste diverted from disposal Tons 2,468.65 125.36% 5,563.24 -0.51% 5,534.67
Incinerated (with energy recovery) Tons 0.00 0.00% 0.00 0.00% 0.00
Incinerated (without
Tons 0.00 0.00% 0.00 0.00% 0.00
energy recovery)
Landfilled Tons 2,138.02 6.25% 2,271.68 133.15% 5,296.53
Brought to a third party
Tons 1,342.33 266.23% 4,916.00 -77.13% 1,124.30
licensed to dispose waste
Total waste brought to disposal Tons 3,480.35 106.52% 7,187.68 -10.67% 6,420.83
Note:
⚫ 2021 and 2022 waste-related data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include
Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika
Energy Holding
⚫ Waste that is brought to a third party (both licensed to reuse/recycle and licensed to dispose) indicates that it is diverted or directed to disposal
offsite, while waste that is included in other categories indicates that it is diverted or directed to disposal onsite.
Appendix D: Our People
N O. O F E M P LOY E E S
G E N D E R [G R I 4 0 5 - 1 ]
2021 2022 2023
Male 6,887 3,169 2,908
Female 706 747 671
N O. O F E M P LOY E E S
W O M E N R E P R E S E N TAT I O N [G R I 4 0 5 - 1 ]
2021 2022 2023
Overall 9.30% 19.08% 18.75%
On the board 6.84% 7.41% 6.98%
D E S C R I P T I O N [G R I 4 0 5 - 1 ] 2022 2023
Male in senior management 117 121
Female in senior management 19 16
Women representation in
13.97% 11.68%
senior management
Note: Senior Management refers to the individuals working in positions such as Chairman, CEO, President, Executive Director and other senior staff
(including Vice President and Senior Vice President)
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P T I N D I K A E N E R GY T B K .
N O. O F E M P LOY E E S
AG E G R O U P [G R I 4 0 5 - 1 ]
2022 2 0 23
< 30 years old 835 1,083
30 - 50 years old 2,434 2,084
> 50 years old 647 412
N O. O F E M P LOY E E S
N AT I O N A L I T Y [G R I 4 0 5 - 1 ]
2022 2023
Indonesian 3,882 3,555
Bulgarian 1 1
Filipino 1 1
Indian 8 5
South Korean 7 5
Trinidadian and Tobagonian 1 1
American 2 2
Japanese 3 0
Australian 4 3
Singaporean 5 4
New Zealander 1 1
Canadian 1 1
Total 3,916 3,579
N O . O F E M P LOY E E S
E D U C AT I O N A L B AC KG R O U N D [G R I 4 0 5 - 1 ]
2022 2023
Doctorate 4 4
Master’s degree 238 257
Bachelor’s degree 1,798 2,012
Associate degree 342 314
Elementary to high school certificate 1,534 992
Total 3,916 3,579
T E M P O R A RY /
D E S C R I P T I O N [G R I 2 - 7 ] PERMANENT
CONTRACT WORKERS
Male 1,590 1,318
Female 403 268
Note:
⚫ It is not possible to categorize employees by work region as they may be assigned to projects in several locations
W O R K E R S W H O A R E N OT E M P LOY E E S [G R I 2 - 8 ] MALE FEMALE TOTA L
Part-time/temporary/internship staff 45 41 86
Outsourced staff 1,393 83 1,476
Experts 8 2 10
Note:
⚫ The data on workers who are not employees was compiled using the headcount methodology with the cutoff date of December 31, 2023
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Diversity of governance bodies [GRI 405-1]
2023
DESCRIPTION
NUMBER %
By gender
Male 80 93.02%
Female 6 6.98%
By age group
<30 years old 0 0.00%
30-50 years old 28 32.56%
>50 years old 58 67.44%
N O . O F N E W H I R E S [G R I 4 0 1- 1 ] 2023
By age group
< 30 years old 131
30 - 50 years old 111
> 50 years old 9
By gender
Male 202
Female 49
Note: It is not possible to categorize new hires by work region as they may be assigned to projects in several locations.
N O . O F E M P LOY E E T U R N OV E R [G R I 4 0 1 -1 ] 2023
By age group
< 30 years old 73
30 - 50 years old 68
> 50 years old 26
By gender
Male 123
Female 44
Note: It is not possible to categorize employee turnover by work region as they may be assigned to projects in several locations.
E M P LOY E E T U R N OV E R [G R I 4 0 1 - 1 ] 2022 2023
Voluntary 2.99% 1.71%
Involuntary 5.68% 2.75%
Total 8.67% 4.46%
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P T I N D I K A E N E R GY T B K .
D E S C R I P T I O N [G R I 4 0 1 - 3 ] MALE FEMALE
Total number of employees entitled to parental leave 962 172
Total number of employees that took parental leave 63 15
Total number of employees that returned
63 11
to work after parental leave ended
Return to work rate 100% 73%
Note: Return to work rate is calculated by dividing total number of employees that returned to work after parental leave by total number of employees
due to return to work after taking parental leave
Training parameters
BY G E N D E R BY L E V E L
D E S C R I P T I O N [G R I 4 0 4 -1 , 4 0 4 -3 ] UNIT BOC BOD MGR TOTA L
MALE FEMALE
EXEC B E LO W
Total hours of training Hours 90,319 24,494 4,728 110,085 114,813
Average hours of training per employee Hours 31.06 36.50 34.51 31.98 32.08
Percentage of employees
receiving performance and career % 100.00% 100.00% 100.00% 100.00% 100.00%
development reviews
Appendix E: Incidents related to discrimination
S TAT U S O F D I S C R I M I N AT I O N I N C I D E N T S [G R I 40 6 -1 ] 2021 2022 2023
Incidents reviewed by the organization 0 0 0
Remediation plans being implemented 0 0 0
Remediation plans have been implemented and results reviewed
2 3 0
through routine internal management review processes
Incident no longer subject to action 0 0 0
Total number of incidents 2 3 0
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Appendix F: Health and safety
TOTA L
H E A LT H A N D S A F E T Y PA R A M E T E R S [G R I 4 0 3 -9 , 4 0 3-10 ]
2021 2022 2023
For employees:
No. of fatalities 0 0 0
No. of work-related ill health 8 2 0
No. of lost time injuries 0 3 0
No. of recordable injuries 8 14 2
No. of high consequence injuries 1 7 0
No. of hours worked 47,847,907 58,643,037 30,603,127
Lost Time Injury Rate 0.00 0.01 0.00
Total Recordable Injury Rate 0.03 0.05 0.01
For contractors:
No. of fatalities 0 1 2
No. of work-related ill health 0 0 0
No. of lost time injuries 62 6,096 12,188
No. of recordable injuries 6 23 8
No. of high consequence injuries 2 5 2
No. of hours worked 47,759,756 55,883,600 58,606,276
Lost Time Injury Rate 0.26 21.82 41.59
Total Recordable Injury Rate 0.03 0.08 0.03
Note:
⚫ 2021 and 2022 health and safety data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures
include Kideco, Tripatra, Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and
Indika Energy Holding
⚫ Contractor lost-time injuries for 2022 and 2023 experienced a significant increase due to contractor fatalities. According to Kepdirjen ESDM No. 185
Tahun 2019, fatalities translate to 6,000 days of lost-time injuries.
Appendix G: Human Rights
Unionized employees in Indika Energy by gender
N O. O F U N I O N I Z E D
GENDER
E M P LOY E E S
Male 369
Female 31
Note: Currently, only employees from Kideco participate in labor unions.
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P T I N D I K A E N E R GY T B K .
Incidents related to rights of indigenous peoples [GRI 411-1]
S TAT U S O F I N C I D E N T S I N VO LV I N G R I G H T S O F
2021 2022 2023
INDIGENOUS PEOPLES
Incidents reviewed by the organization 0 0 0
Remediation plans being implemented 0 0 0
Remediation plans have been implemented
and results reviewed through routine 0 0 0
internal management review processes
Incident no longer subject to action 0 0 0
Total number of incidents 0 0 0
Note:
⚫ 2021 and 2022 data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include Kideco, Tripatra,
Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika Energy Holding
Appendix H: Business Ethics
Risk assessment and communications related to anti-corruption in Indika Energy [GRI 205-1, 205-2]
2023
DESCRIPTION
NUMBER P E R C E N TAG E
Holding
Operations assessed for risks related to corruption company and 10 100%
business units
Governance bodies that have been communicated to
86 100%
and trained on anti-corruption policies and procedures
Employees who have been communicated to
3,579 100%
on anti-corruption policies and procedures
Employees trained in anti-corruption 2,070 57.8%
Note:
⚫ Data on the number of employees and governance bodies receiving communication or training on anti-corruption policies and procedures is not
broken down by employee category and region due to unavailability of data and the inability to categorize some employees by region as they
work in different locations.
Incidents related to corruption in Indika Energy [GRI 205-3]
DESCRIPTION 2023
Incidents of corruption 0
Incidents in which employees were dismissed for corruption 0
Incidents of business partners’ contracts being
0
terminated due to violations related to corruption
Public legal cases brought against the
0
company or its employees
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SUSTAI NABI LI TY RE PO RT 2 0 2 3
Whistleblowing reports and incidents of non-compliance in Indika Energy [GRI 2-27, 205-3, 2-16]
DESCRIPTION 2021 2022 2023
Whistleblowing reports received 7 10 2
Instances of non-compliance
0 0 0
with laws and regulations
Fines for non-compliance with
0 0 0
laws and regulations
Monetary value of fines for non-compliance
0 0 0
with laws and regulations (in USD)
Note:
⚫ 2021 and 2022 data is compiled based on Kideco, Petrosea (divested in 2022), Tripatra, MUTU, and Interport. 2023 figures include Kideco, Tripatra,
Interport, Indika Indonesia Resources, EMITS, Ilectra Motor Group, Xapiens, Masmindo, Mekko, Indika Nature, and Indika Energy Holding
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P T I N D I K A E N E R GY T B K .
Contact us [GRI 3]
Our Sustainability Report 2023 forms part of Indika Energy’s annual
Environmental, Social, and Governance (ESG) communications [GRI 2-3].
This Report includes information provided in our Annual Report 2023,
detailing how we address the most material sustainability risks and
opportunities we faced during the year.
We also publish our ESG performance through other corporate publications
as well as making regular updates on our activities via our website and social
media platforms. Since 2022, we also publish the UNGC Communication on
Progress Report as part of our commitment as an UNGC signatory.
PT Indika Energy Tbk.
Graha Mitra, 3rd Floor
Jl. Jend. Gatot Subroto Kav. 21
Jakarta 12930, Indonesia
sustainability@indikaenergy.co.id
www.indikaenergy.co.id
IG: indika.energy
Linkedin: Indika Energy
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PT Indika Energy Tbk. Graha Mitra, 3rd Floor Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930, Indonesia sustainability@indikaenergy.co.id www.indikaenergy.co.id IG: indika.energy
Names mentioned 100 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Indika Indonesia
p.11 ×2
unresolved
org
PT Multi Tambangjaya
p.11
unresolved
org
PT Tripatra Engineering
p.11 ×3
unresolved
org
PT Tripatra Engineers
p.11 ×3
unresolved
org
PT Interport Mandiri Utama
p.11 ×3
unresolved
org
PT Mekko
p.11
unresolved
org
PT Empat Mitra Indika
p.11
unresolved
org
PT Indika Multi Properti
p.11 ×2
unresolved
org
PT Ilectra Motor Group
p.11 ×2
unresolved
org
PT Xapiens Teknologi Indonesia
p.11 ×2
unresolved
org
PT Kideco Jaya Agung
p.29 ×2
unresolved
org
PT Indika Indonesia Resources
p.29
unresolved
org
PT Kariangau Gapura Terminal Energi
p.29
unresolved
org
PT Masmindo Dwi Area
p.29
unresolved
org
PT Mekko Metal Mining
p.29
unresolved
org
PT Rockgeo Energi Nusantara Green Businesses Key
p.29
unresolved
org
PT Empat Mitra Indika Tenaga Surya
p.29
unresolved
org
PT Kalista Nusa Armada
p.29
unresolved
org
PT Industri Baterai Nusantara Digital Ventures Key
p.29
unresolved
org
PT INDIKA INTI
p.51
unresolved
org
PT Indika Inti Corpindo
p.52
unresolved
org
PT Tripatra Multi Energi
p.52
unresolved
org
PT Indika Tenaga Baru
p.52
unresolved
org
PT Indika Energy Infrastructure
p.52
unresolved
org
PT Sumber Multi
p.52
unresolved
org
PT POSB Reksabumi
p.52
unresolved
org
PT Indika Empat
p.52
unresolved
org
PT Mitra Energi Agung
p.52
unresolved
org
PT Indika Multi Niaga
p.52
unresolved
org
PT Sea Bridge Shipping Pertambangan
p.52
unresolved
org
PT Indika Multi
p.52 ×2
unresolved
org
PT Indika Infrastruktur Pengangkutan
p.52
unresolved
org
Investments Pte. Ltd.
p.52 ×2
unresolved
org
PT Prasarana Energi
p.52 ×2
unresolved
org
PT Cirebon
p.52
unresolved
org
PT Mitra Baruna
p.52
unresolved
org
PT Multi Tambang
p.52
unresolved
org
PT Interport Mandiri Abadi
p.52
unresolved
org
PT Cirebon Power
p.52
unresolved
org
PT Kuala Pelabuhan Trading Pte.
p.52
unresolved
org
PT Kariangau
p.52
unresolved
org
PT Cirebon Energi
p.52
unresolved
org
PT Citra Indah Prima
p.52
unresolved
org
Indika Capital Pte. Ltd.
p.52
unresolved
org
PT Jatim Gapura
p.52
unresolved
org
PT Intan Resource Indika Capital
p.52
unresolved
org
PT Solusi Mobilitas
p.53
unresolved
org
PT Indika Medika
p.53
unresolved
org
PT Indy Properti
p.53
unresolved
org
PT Indika Mineral
p.53
unresolved
org
PT Jaya Bumi Paser
p.53
unresolved
org
PT Ilectra Motor
p.53
unresolved
org
PT Bioneer Indika Pengusahaan
p.53
unresolved
org
PT Diva Perdana Motor
p.53
unresolved
org
PT Pusat Sarana Baruna
p.53
unresolved
org
Salu Siwa Pty. Ltd.
p.53
unresolved
org
PT Electra Mobilitas
p.53
unresolved
org
PT Bioneer Indika
p.53
unresolved
org
PT Telaga Mas
p.53
unresolved
org
PT Masmindo
p.53
unresolved
org
PT Trisetia
p.53
unresolved
org
PT Elang Mas
p.53
unresolved
org
PT Electra Distribusi
p.53
unresolved
org
PT Indika Digital
p.53
unresolved
org
PT Natura Aromatik
p.53
unresolved
org
PT Rockgeo
p.53
unresolved
org
PT Electra Auto
p.53
unresolved
org
PT Zebra Cross
p.53
unresolved
org
PT Mitra Samudra
p.53
unresolved
org
PT Laras Ekosistem
p.53
unresolved
org
PT Perkasa
p.53 ×2
unresolved
org
PT Xapiens
p.53
unresolved
org
PT Indika Logistic
p.53
unresolved
org
PT Kalista Nusa
p.53
unresolved
org
PT Mekko Metal
p.53
unresolved
org
PT Foxconn Indika
p.53
unresolved
org
PT Interport
p.53
unresolved
org
PT Kalista Rotom Orbita
p.53
unresolved
org
PT Energi Makmur
p.53
unresolved
org
PT Narada Smelter
p.53
unresolved
org
PT Cotrans Asia
p.53
unresolved
org
PT Kalista Soter
p.53
unresolved
org
PT Kalista Nayara
p.53
unresolved
org
Indika
13.2 | Energy
p.56
unresolved
org
Ministry of Energy and Mineral
p.66
unresolved
person
Wahidah
p.87
unresolved
person
H. SOEBAGJO
p.103
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