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PT LIPPO KARARWACI TBK | 2023 SUSTAINABILITY REPORT
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix
Table of Contents
OUR SUSTAINABILITY ENHANCING
1 INTRODUCTION 2 HIGHLIGHTS 3 4
APPROACH QUALITY OF LIFE
4 About This Report 15 Sustainability Performance 22 Sustainability Framework 45 Economic Contribution
7 Our Company 17 Awards & Recognition 23 Sustainability Governance 48 Community Support
& Engagement
12 President Director’s Message 20 Sustainability Agenda 24 Materiality Assessment &
Stakeholder Engagement 51 Product Innovation
27 Supporting UN SDGs & 56 Customer Service & Satisfaction
UNGC Principles
31 Climate & Sustainability
Risks & Opportunities
CARING FOR OUR INVESTING IN CHAMPIONING
5 6 7 8 APPENDIX
ENVIRONMENT OUR PEOPLE BEST PRACTICES
60 Energy Efficiency & Emissions 79 Employment & Rights 91 Governance & Accountability 99 Reporting Methodology
68 Water Stewardship 84 Occupational Health & Safety 95 Ethics & Compliance 102 Environmental Data
74 Waste Management 87 Training & Development 97 Data Privacy & Security 105 Workforce Data
108 Climate Scenario Analysis
111 Content Index
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INTRODUCTION About This Report
Our Company
President Director’s Message
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About This Report [GRI 2-3a, 2-3b, 2-3c]
PT Lippo Karawaci Tbk (LPKR, Lippo Karawaci or “the Group”) is pleased to present its 2025 Sustainability Report (“this
Report”). This Report outlines the Group’s environmental, social, and governance (ESG) performance for the relevant
financial year, covering operations and assets where the Group exercises operational control or significant influence
across its core business segments. Our approach and methodology aim to embed sustainability into the Group’s strategy,
governance, risk management, and value creation process. We recommend reviewing this Report alongside our Annual
Report, which details our financial, operational, and governance disclosures. The policy, practice and performance
data presented in this report were obtained from formal documents and operational data from business units within
the Group. Endorsed by the Board of Directors and Board of Commissioners, this Report is published on 27 April 2026.
This Report is only available in a digital version – current and previous editions are available at www.lippokarawaci.co.id.
2025 Sustainability Report
Advancing Well-Being
at Every Stage of Life
REPORTING SCOPE & PERIOD [GRI 2-2, 2-3] In line with reporting best practice, we have specified
the boundaries for any disclosure that does not apply
The scope of this Report mirrors our Annual Report, to all business units. For instance, our environmental
covering all business units across our Real Estate and 1
data only reflects assets and operations under the
Lifestyle segments. The scope includes publicly listed Group’s operational control, in line with the GHG
entities under the Group’s management, such as PT protocol. All business units adopt a standard approach
Lippo Cikarang Tbk (LPCK), PT Gowa Makassar Tourism as prescribed by the Group Sustainability Function in the
2024 Sustainability Report
Development (GMTD) and Lippo Malls Indonesia Retail identification of material topics, performance
Trust (LMIR Trust)2, as well as wholly-owned subsidiaries measurement and reporting.
Advancing Well-Being
at Every Stage of Life such as PT Lippo Malls Indonesia (Lippo Malls),
2023 SUSTAINABILITY REPORT
PT Aryaduta International Management (Aryaduta), and The reporting period spans 1 January to 31 December
San Diego Hills Memorial Park (SDH). It also references 2025, which aligns with our financial year. Where
the achievements of PT Siloam International Hospitals relevant and available, this Report provides comparative
Tbk (Siloam Hospitals), which the Group retains a 29.1% historical data to provide more context. We publish our
investment stake in. Sustainability Reports on an annual basis.
1
LPKR’s real estate business units are collectively referred to as LippoLand, which includes subsidiaries such as LPCK, GMTD and SDH.
2023 Sustainability Report 2
As publicly listed entities, LPCK, GMTD, and LMIR Trust separately publish their own Sustainability Reports on an annual basis.
4 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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REPORTING STANDARDS & FRAMEWORKS
This year’s Report builds on the disclosures from our previous Sustainability Reports. This marks the second year that LPKR has integrated the IFRS Sustainability Disclosure Standards
(S1 and S2) into its reporting framework, positioning the Group proactively ahead of Indonesia’s expected adoption of these standards. This Report is prepared in accordance or refers to
the following regulations, standards, and guidelines (please refer to “Appendix - Content Index” on pages 111 to 135):
REPORTING STANDARD OR FRAMEWORK DESCRIPTION
This Report is prepared in accordance with the latest Global Reporting Initiative (“GRI”) Universal Standards 2021. The GRI framework is one of the most
widely used and recognized standards for global reporting, providing a structured, globally recognized approach for organizations to identify, manage,
Global Reporting Initiative (GRI) and disclose their economic, environmental, and social impacts. This provides for higher comparability of the Group’s disclosures with its peers.
The disclosures made in this report are in line with GRI’s Reporting Principles for defining report quality – accuracy, balance, clarity, comparability,
completeness, sustainability context, timeliness and verifiability. Our GRI content index can be found on page 111 of this report.
In addition, this Report is aligned to SASB sector-specific guidance on sustainability indicators based on financial materiality. We have referred to
Sustainability Accounting Standards Board (SASB)
Healthcare and Real Estate sector recommendations.
As a UNGC signatory, we are committed to upholding the Ten Principles of the UNGC and advancing the UN SDGs that are more relevant to our
United Nations Global Compact (UNGC) and United
business. This Report showcases how we are contributing towards the global sustainability agenda under the UNGC and UN SDGs and forms the basis
Nations Sustainable Development Goals (UN SDGs)
for our annual disclosures under the UNGC’s “Communication on Progress” requirements.
To enhance our climate reporting and future alignment with International Financial Reporting Standards (IFRS), International Sustainability Standards
Board Standards 2 (ISSB S2), we have prepared our climate-related disclosures in accordance with TCFD recommendations. This is structured
Task Force on Climate-related Financial Disclosures around the four thematic areas of Governance, Strategy, Risk Management, and Metrics and Targets. Our TCFD Report is enclosed under “Climate
(TCFD) & Sustainability Risk & Opportunities” on pages 31 to 42. We are committed to working towards fully aligning with the TCFD recommendations and
enhancing our disclosures in line with best practice. This year, we have built on our previous TCFD Report to include sustainability-related risks &
opportunities, found on pages 35 to 37.
As a long-standing partner of WEF, we are amongst the first corporations in Southeast Asia to pledge our support for the WEF Stakeholder
Capitalism Metrics. Our Sustainability Framework and disclosures are organized according to the four thematic areas of Prosperity, Planet, People,
World Economic Forum (WEF)
and Principles of Governance, which demonstrates our commitment to long-term value creation for all our stakeholders across both financial and
non-financial dimensions.
The International Sustainability Standards Board (ISSB) issued its first two IFRS® Sustainability Disclosure Standards, IFRS S1 General Requirements
International Financial Reporting Standards (IFRS) for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. This year’s report serves as a part of a process of
continuous improvement towards full compliance with S1 and S2 as its second year of reporting incorporating IFRS standards.
As a public company listed on the Indonesia Stock Exchange, we have disclosed information in line with the sustainability reporting requirements of
Financial Services Authority of Indonesia (OJK) OJK Regulation No.51/POJK.03/2017 on the Implementation of Sustainable Finance for Financial Services Companies, Issuers, and Public Companies
and in reference to OJK Circular Letter No.16/SEOJK.04/2021 for Form and Contents of the Issuer’s or Public Company’s Annual Report.
Singapore Exchange Securities Trading Limited This report has been prepared in compliance with SGX Listing Rule 711A and 711B, incorporating the mandatory sustainability reporting requirements
(SGX-ST) Listing Rules 711A and 711B, and Practice effective from FY2026, with climate-related disclosures guided by Practice Note 7.6 and aligned with the IFRS Sustainability Disclosure Standards
Note 7.6 Sustainability Reporting Guide (ISSB) and TCFD recommendations.
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RESTATEMENTS OF INFORMATION [GRI 2-4] EXTERNAL ASSURANCE [GRI 2-5] [OJK G.1]
Prior financial and sustainability information have been restated in this Report to reflect We have not sought external assurance for this Report. We are continually improving
the deconsolidation of Siloam Hospitals from historical data, ensuring comparability our data collection and validation processes in preparation for external assurance
and accuracy in line with reporting requirements reflecting the operational control of in the future.
the Group assets.
FEEDBACK [GRI 2-3d, 2-26] [OJK G.2, G.3]
Deconsolidation of Siloam Hospitals
In FY2024, LPKR reduced its ownership stake in PT Siloam International Hospitals Tbk (“Siloam We welcome feedback on this Report, as this helps us to improve our sustainability
Hospitals”) from 58.07% to 29.10%, resulting in the deconsolidation of Siloam Hospitals from our
performance and reporting. Please reach out to us with any comments or questions at
financial statements and operational portfolio reporting. Siloam Hospitals is now reflected as an
sustainability@lippokarawaci.co.id
associate instead of a subsidiary of LPKR.
From a sustainability perspective, this transition allows us to recalibrate our reporting baseline to
accurately reflect the assets under our direct operational control. In alignment with our FY2025 CONTACT INFORMATION [OJK C.2]
Annual Report, Siloam Hospitals' environmental performance is now accounted for under Scope
3 as an equity investment, and its historical social and environmental data has been restated
Menara Matahari, 22nd Floor
across prior reporting periods to ensure comparability. Our sustainability performance is therefore
Jl. Boulevard Palem Raya No.7
measured by the strength of our Real Estate and Lifestyle operations, supported by revised targets
aligned with our new operational footprint.
Lippo Karawaci Central
Tangerang, Banten
While Siloam Hospitals is no longer consolidated within our direct operational reporting, our Indonesia 15811
investment remains a cornerstone of LPKR's broader value creation strategy. We continue to Tel: +62 21 2566 9000
monitor its sustainability performance and support its decarbonization and social impact initiatives
Fax: +62 21 2566 9098/99
in our capacity as a strategic investor.
sustainability@lippokarawaci.co.id
Please refer to Siloam Hospitals' FY2025 Sustainabilty Report for complete disclosures regarding its
www.lippokarawaci.co.id
sustainability performance.
6 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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Our Company [GRI 2-3a, 2-3b, 2-3c]
VISION VALUES
Listed on the Indonesia Stock Exchange, Lippo Karawaci
To be a leading real estate Customer Focus
is Indonesia’s leading real estate platform, with a
presence in 26 provinces and 56 cities across Indonesia.
and healthcare company in • Put the customer first
in every aspect of our business
The Group has a strong track record of developing and Asia, advancing the wellbeing
• Go the extra mile to earn
managing a diversified asset base that includes landed of those we serve
customer trust and loyalty
and high-rise residences, hospitals, lifestyle malls, hotels,
commercial and industrial estates, office buildings, as
Excellence
well as townships and integrated developments. MISSION
• Strive to be the best and uphold the highest
1. To win the hearts and minds of our
standards of quality without compromise
Through our innovative use of land and integrated customers through quality homes,
• Unleash the full potential of our talent to
value chain, we create value across every segment of healthcare and lifestyle offerings, as well as
deliver outstanding performance
the urban ecosystem. We serve Indonesia’s emerging people-centric services
consumers by not only building homes and townships,
2. To build a talent-driven organization that Agility
but also providing healthcare, retail and hospitality
prides itself on operational excellence and • Thrive in dynamic environments
services. Our diversified assets and operations span the
bringing out the best in our people and anticipate change
archipelago, from Aceh to the eastern reaches of Papua.
• Innovate and capitalize on new opportunities
As champions of sustainability, we are committed to 3. To embrace innovation and technology in
creating a more livable world for all our stakeholders, the constant pursuit of developing better
Stewardship
and for the generations to come. products and processes
• Be responsible for our resources,
4. To inspire our customers, communities, and environment and communities
partners towards a more sustainable future • Create lasting, positive impact for
all stakeholders in our ecosystem
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BUSINESS ECOSYSTEM [OJK C.3, C.4] [GRI 2-6]
REAL ESTATE HE A LTHCA R E LIFESTYLE
Large landbank and strong growth in Investment in the largest healthcare platform Malls, hotels, and ancilliary business assets
marketing sales generating sustainable delivering clinical excellence and access to support ecosystem providing consistent
cashflows in coming years. to healthcare. dividend income.
Real Estate Township Water Treatment and Hospitals Clinics Digital healthcare, Malls Hospitality Food catering, parking,
Development Management supporting services homecare, and and ancillary business
supporting services
3 14 3 41 75 4,310 59 2.5Mm² 260M+
townships high-rise residences superblocks hospitals clinics operational beds malls net leasable area mall visitors
130+ ~1,300 ha 25+ ~50% 4,600 9,351 10 3 ~2,000
property projects land bank years of Digital outpatient GPs, specialists, nurses and medical hotels leisure hotel rooms
for sale development bookings through dentists professionals properties
pipeline My Siloam App
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OPERATIONAL FOOTPRINT
• Banda Aceh Medan Balikpapan
Plaza Aceh Siloam Hospitals Balikpapan (SHBP)
• Siloam Hospitals Medan (SHMD) Ambon
• Plaza Medan Fair
• Sun Plaza
Siloam Hospitals Ambon (SHAB) Real Estate Hospitals / Clinic
• Lippo Plaza Medan
• Grand Palladium Medan Banjarmasin Mall Hotel
• Aryaduta Medan
Siloam Hospitals Banjarmasin (SHBJ)
Pekanbaru
Aryaduta Pekanbaru Manado
Palangkaraya
• Holland Village Manado
• Siloam Hospitals Palangkaraya (SHPR) • Siloam Hospitals Manado (SHMN)
• Mega Town Square Palangkaraya • Siloam Hospitals Paal Dua Manado (SHPD)
Jambi • Lippo Plaza Manado
• Aryaduta Manado
• Siloam Hospitals Jambi (SHJB)
• Lippo Plaza Jambi
• Siloam Hospitals Palembang (SHPL) Bangka
• Palembang Square Siloam Hospitals Bangka Kalimantan
• Palembang Square Extension Sumatra Belitung (SHBB)
• Palembang Icon
• Aryaduta Palembang Pekalongan
• Palembang Plaza Pekalongan Kendari Maluku
Sulawesi Lippo Plaza Kendari
• Siloam Hospitals Lubuk Linggau (SHLL)
• Lippo Plaza Lubuk Linggau Karawang
Surabaya
Lubuk Linggau • Rolling Hills
• City of Tomorrow Surabaya
Bau-Bau
• San Diego Hills Kudus
Memorial Park • Siloam Hospitals Surabaya (SHSB) • Siloam Hospitals Buton (SHBN)
Kudus Extension Mall • City of Tomorrow • Lippo Plaza Buton
• Lippo Village • Citywalk Elvee
Purwakarta
• Millenium Village • Benton Junction Madiun
• Siloam Hospitals Lippo Village • WTC Matahari • Memorial Park
• Rumah Sakit Umum Siloam • Mall of Serang • Siloam Hospitals Plaza Madiun (Retail Spaces)
• Tanjung Bunga
Lippo Village (RSUS) • Aryaduta Lippo Village Purwakarta (SHPW) Gresik • Siloam Hospitals Makassar (SHMK)
• Embarcadero Bintaro • Aryaduta Country Club
Plaza Gresik • GTC Makassar
• Siloam Hospitals Kelapa Dua • Imperial Klub Golf
• Aryaduta Makassar
• Plaza Semanggi
• MaxxBox Lippo Village Banten Makassar
Jawa
Labuan Bajo
• Bandung Indah Plaza Siloam Hospitals Labuan Bajo (SHLB)
• Istana Plaza
• Aryaduta Bandung
Bandung
NTB
• Lippo Cikarang • Lippo Plaza Kramat Jati
Lippo Plaza Batu
NTT
• Kemang Village • Lippo Mall Kemang Siloam Hospitals Cirebon (SHC)
• St Moritz Puri • Mal Lippo Cikarang Batu
• Nine Residence • Pluit Village
Cirebon
• Depok Park View • Tamini Square
• Holland Village Jakarta • Lippo Mall Puri • Siloam Hospitals Yogyakarta (SHYG) Lippo Plaza Sidoarjo Kupang
• Siloam Hospitals Kebon Jeruk • Cikarang CityWalk • Lippo Plaza Jogja
Sidoarjo • Siloam Hospitals Kupang (SHKP)
• MRCCC Siloam Semanggi • District 1 Meikarta
• Siloam Hospitals TB • Maxxbox Cinere
Yogyakarta • Lippo Plaza Kupang
Simatupang • Senayan Park • Siloam Hospitals
• Siloam Hospitals Mampang • Blu Plaza Jember (SHJR)
• Siloam Hospitals ASRI • Lippo Plaza Keboen • Lippo Plaza Jember
Siloam Hospitals Semarang (SHSR)
• Siloam Hospitals Cinere Raya Bogor
Jember
• Siloam Hospitals Bogor • Grand Mall Bekasi Semarang
• Siloam Hospitals Bekasi • Bellanova Country Mall
Sepanjang Jaya (SHBS) • Depok Town Square • BIMC Kuta
• Siloam Hospitals Bekasi • Metropolis Town Square • BIMC Nusa Dua
Timur (SHBT) • Sudirman Office Tower • Siloam Hospitals
• Siloam Hospitals Sentosa • Aryaduta Menteng Kediri Town Square
Denpasar (SHDP)
(SHST) • Aryaduta Suite Semanggi Jabodetabek
Kediri • Lippo Mall Kuta
• Siloam Hospitals Lippo
Cikarang (SHLC)
• Lippo Plaza Sunset
• Aryaduta Bali
Presence in Greater Jakarta
Jabodetabek
• Siloam Hospitals Agora
• Cibubur Junction
Greater Jakarta
• Rumah Sakit Umum Syubbanul Wathon (RSU SW)
Bali 56 cities and 26 provinces
• Lippo Plaza Ekalokasari Bogor
• Gajah Mada Plaza • Malang Town Square Siloam Hospitals across the Indonesian archipelago
Malang Mataram (SHMT)
Mataram
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OUR VALUE CHAIN
OUR SUPPLIERS & CONTRACTORS OUR PRODUCTS & SERVICES OUR CUSTOMERS
REA L ESTATE
Mortgage Lenders Construction Consultants Township Landed Homes & Commercial &
Management High-Rise Apartments Industrial Leasing
Homeowners Tenants Local Communities
Property Agents Building Materials Landscaping Burial Plots Water Treatment
HE ALTHCA R E
Healthcare Service Food Catering Pharmaceuticals Hospitals Clinics Lab & Diagnostics
Providers
In-Patients Out-Patients
Partner Doctors & Allied Medical Devices Digital Healthcare Homecare
Health Professionals
LI F E STYL E
Guest Relations Daily Supplies Retail Spaces Lifestyle Malls Hospitality & Leisure
Mall Visitor Retail Tenants Hotel Guests
Sales & Marketing Facilities Management Food & Beverage Parking Services
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SHAREHOLDERS STRUCTURE [OJK C.3]
Lippo Related Companies * Public
57.22% 42.78%
No. of Outstanding Shares
70,877,317.69
(excludes Treasury Shares)
29.09% 90.65% 57.76%
PT Siloam International PT Gowa Makassar
PT Lippo Cikarang Tbk Tourism Development Tbk
*
Directly and indirectly
Hospitals Tbk ** **
Became an associate
entity since June 2024
MEMBERSHIP ASSOCIATIONS [GRI 2-28] [OJK C.5]
LIPPO KARAWACI SUBSIDIARIES
• Indonesian Chamber of Commerce and Industry (KADIN) • Indonesian Employers’ Association (APINDO)
• Real Estate Indonesia (REI) • Indonesian Industrial Estate Association (HKI)
• Indonesian Issuers Association (AEI) • Indonesia Shopping Center Management Association (APPBI)
• World Economic Forum (WEF) • Indonesian Hotel and Restaurant Association (PHRI)
• Jakarta Property Institute (JPI) • Indonesia Corporate Secretary Association (ICSA)
• UN Global Compact Network Indonesia (IGCN)
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President Director’s Message [GRI 2-22, 2-25] [OJK A.1, D.1]
Dear Valued Stakeholders, each certified building delivering over 20% in energy
Against the backdrop of a challenging operating savings and lower embodied carbon. We also more than
environment, 2025 called for even more discipline in doubled the number of electric vehicle charging stations
how we pursue growth sustainably, balancing between installed across our properties, supporting Indonesia’s
short-term pressures and long-term commitments. transition to low-carbon mobility.
Since launching our 2030 Sustainability Agenda, we have
strived to demonstrate that the pursuit of sustainability What excites me most, however, is where we are heading.
goals is not at odds with value creation — instead, they We have begun to explore alternative business models for
are mutually reinforcing, enabling us to lower operating decarbonisation, including pay-per-use arrangements
costs, deepen stakeholder trust, and build more resilient and profit-sharing structures linked to energy savings.
assets. This year’s Sustainability Report reflects both the These models can accelerate deployment of energy-
concrete outcomes of our efforts and the ambitions we efficient technologies by removing upfront capital
have set for ourselves going forward. barriers and creating shared value between the Group
and our technology partners, making decarbonisation
CLIMATE ACTION AND THE NEW commercially self-sustaining rather than purely
ECONOMICS OF SUSTAINABILITY a cost centre.
We have begun to see our environmental initiatives bear INNOVATION, CUSTOMER EXPERIENCE,
fruit. In 2025, we achieved a 34% reduction in building AND THE ROLE OF AI
emissions intensity from our 2019 baseline — a 5%
year-on-year improvement — in large part due to our In 2025, product innovation and customer service and Our near-term priorities are:
investments over the years in energy optimisation, chiller satisfaction have emerged as among our highest- accelerating decarbonization
and lighting retrofits, building management systems, priority material topics, reflecting their direct influence and renewable energy
and the scaling of our solar photovoltaic capacity. For on stakeholder value and our competitive positioning
deployment, expanding our social
water management, 15% of our consumption now comes across all three segments. In Real Estate, LippoLand
impact reach, deepening climate
from recycled water and harvested rainwater, exceeding focuses on delivering trendy yet affordable homes for
our 2030 target of 30% which we raised only last year. Indonesia's first-time buyers, with our latest township
resilience, and scaling the use
We now hold four EDGE Green Building certifications Park Serpong earning accolades such as "Innovative of AI to improve our productivity
covering approximately 487,000 square metres, with Housing Project of the Year" and "Best of the Best and customer experience.
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Zillennial Housing" at the Golden Property Awards measurable results across productivity, accuracy, and sustainability factors affect our business model, value
2025. In Healthcare, Siloam Hospitals drives the early service quality. The impact on customer satisfaction has chain, and financial performance. In 2025, we advanced
adoption of advanced clinical technology to improve been tangible, with complaint resolution rates for both this work on three fronts: expanding our risk assessment
quality of care, including deploying the country's first Da our Township Management Division and Lippo Malls scope beyond climate to cover broader sustainability
Vinci Xi robotic surgical system and first integrated CT- exceeding 98%. risks, using both financial and impact materiality lenses;
LINAC system for precision radiotherapy. In our Lifestyle strengthening the connectivity between sustainability
segment, the transformation of Plaza Semanggi into TOUCHING ONE MILLION LIVES disclosures and financial implications; and embedding
Lippo Mall Nusantara — and ongoing renovations across ESG risks within our Enterprise Risk Management
the portfolio — reimagine our retail and hospitality We have also expanded the scope of our social impact framework, with ESG data audits now institutionalised
assets as inclusive community destinations that serve agenda. Through “Lippo Untuk Indonesia PASTI”, our in the annual internal audit plan. Our three-year phased
the needs of the evolving Indonesian consumer. Group-wide community engagement initiative, we roadmap for full ISSB adoption provides a clear pathway
conducted 1,758 activities in 2025, reaching over 287,000 toward the reporting baseline that global capital markets
Artificial intelligence (AI) has become an enabling beneficiaries. Cumulatively, we have now served over increasingly expect.
force across the Group for strengthening operational 937,000 individuals — within clear reach of our target
performance and deepening customer engagement. of one million beneficiaries by 2030. From expanding LOOKING AHEAD
We have accelerated the roll-out of AI use cases that affordable housing through Hunian Warisan Bangsa
improve our own backend processes as well as how to investing in community infrastructure and rural Today, we are either on track or ahead of schedule on
we interface with customers. On the operations side, revitalization, we strive to develop resilient communities the majority of our targets under our 2030 Sustainability
LippoLand deployed AI-assisted document verification and drive inclusive growth. Agenda. Our near-term priorities are: accelerating
and digital approvals to reduce processing time for decarbonisation and renewable energy deployment,
homebuyer transactions; Siloam Hospitals integrated OUR ISSB JOURNEY expanding our social impact reach, deepening climate
AI into its various systems from electronic medical resilience, and scaling the use of AI to improve our
records to inventory management; and Lippo Malls As sustainability reporting converges toward a global productivity and customer experience.
introduced AI-driven automation for retail operations baseline, we have taken a deliberate step in positioning
including footfall analytics and tenant management. Lippo Karawaci at the forefront of this transition. This I am grateful to our Board, our management teams,
On the customer-facing side, Aryaduta launched an marks the second year that we have integrated the IFRS our employees, and our partners for their commitment
AI-powered content and knowledge management Sustainability Disclosure Standards (ISSB S1 and S2) into to this work. And to our stakeholders, thank you
system that enables hotel teams to respond to guest our reporting framework, proactively preparing for OJK’s for your continued trust as we build a better future
enquiries faster and with greater personalisation, while upcoming adoption of these standards and for our SGX- for all Indonesians.
LippoLand enhanced its LEAP resident engagement mandated climate reporting obligations.
platform with improved service request handling and
real-time notifications. These are not pilot projects — For us, the ISSB framework is not a compliance
Marlo Budiman
they are embedded in daily operations and delivering exercise but a strategic evaluation tool to assess how President Director
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HIGHLIGHTS Sustainability Performance
Awards & Recognition
Sustainability Agenda
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Sustainability Performance
[OJK B.1]
ENHANCING >200M
QUALITY OF LIFE Indonesians served
Rp
Rp
9,033B Rp
Rp
Rp
314B TAX
1,758 >287k
% Beneficiaries
Revenue Taxes Paid Community activities
Total Locations
94%
Sold homes priced
under RP 2 billion
22 50 >Rp42B
Provinces Cities Spending
[OJK B.2, F.4] GHG Emissions
CO2
CARING FOR OUR 9 ktCO₂e 195 ktCO₂e 515 ktCO₂e CO2 0.106 tCO₂e/m²
ENVIRONMENT Scope 1 Scope 2 Scope 3 Building Emissions Intensity
4 122
Green Building Certifications
New EDGE Certification
903K GJ 0.41 GJ/m² Total EV charging
Energy Consumption Building Energy Intensity stations installed
for Palembang Icon
34% ~1.59M m³
3.71M m³ 1.64 m³/m² Water consumption
from sustainable
Treated water from
sustainable sources
3,244 tons
Water Consumption Building Water Intensity Waste diverted from landfill
sources
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Sustainability Performance
[OJK B.3]
INVESTING IN 3,328 62% 38% 32%
Employees Male Female Female senior executives
OUR PEOPLE and managers
23.6 >47,000 1,394 3,900 0.30 0.36
Average training hours Total training hours ESG training hours OHS training hours LTIFR LTIFR
per employee (Employee) (Contractor)
CHAMPIONING
367 99%
Onboarded users for Refresher training completion for
BEST PRACTICES ESG Data Management system Code of Conduct & Anti-corruption policy
Top SDG Zero Rp
Zero
Award Case of corruption,
fraud and bribery
Case of Data Privacy
Breach and Leaks
Hubexo Asia Awards 2025 MURI Basic Life Support Training for 9,000
Non-Medical Community Members
Top SDGs Award 2025
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Awards & Recognition
SEGMENT BUSINESS UNITS ORGANIZER AWARD TITLE
Holding Company PT Lippo Karawaci Tbk Indonesian Institute for Corporate Directorship (IICD) Top 50 Middle Capitalization Public Listed Company Award
Fortune Indonesia 100 Listed in Fortune Indonesia 100 - The Fortune 100 Property and Real Estate Sector
TopBusiness Magazine Top Leader on CSR Award 2025
INFOBRAND.ID & TRAS N CO Indonesia Top SDG Award 2025
Real Estate LippoLand Hubexo Hubexo Asia Awards 2025 - Elite Awards
Hubexo Asia Awards 2025 - Top 10 Developers
Park Serpong Indonesia Property Watch Golden Property Awards 2025 - Innovative Housing Project Of The Year
Golden Property Awards 2025 - Best Of The Best Zillenial Housing Project
Bank Tabungan Negara BTN Award 2025 - Most Innovative Mortgage Housing Project Medium Scale Award
PropertyGuru Indonesia Property Awards Best Housing Development (Greater Jakarta)
Best Eco-Friendly Housing Development
GMTD Bisnis Indonesia Bisnis Indonesia Award 2025 – Real Estate Developer Category
Directorate General of Taxes (DJP), Ministry of Finance, The Largest Taxpayer And Law-Abiding PBB-P2 Taxpayer At The Tax Award 2025
Indonesia
Lippo Cikarang - Cosmo Estate PropertyGuru Indonesia Property Awards Best Mid-End Housing Development (West Java)
Lippo Village - Zen Series Best High-End Hosing Development (Greater Jakarta)
Healthcare Siloam Hospitals Group Hospital Management Asia Best Community Involvement
Newsweek and Statista World's Most Trustworthy Companies
Best Specialized Hospitals in Oncology 2023 - 2025
Siloam Hospitals Group Charlton Media Group – Healthcare Asia Award Service Delivery Innovation Initiative of the Year (Self Check-In)
Siloam Hospitals Group Clinical Service Initiative of the Year
MRCCC Specialty Hospital of the Year
Siloam Hospitals ASRI Tertiary Hospital of the Year
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SEGMENT BUSINESS UNITS ORGANIZER AWARD TITLE
Healthcare BIMC Nusa Dua Charlton Media Group – Healthcare Asia Award Medical Tourism Hospital of the Year
MRCCC Specialty Hospital of the Year - Oncology
Siloam Hospitals Group Digitized Healthcare Service of the year
Siloam Hospitals Kebon Jeruk World Stroke Organization (WSO) WSO Angels Awards - DIAMOND STATUS (Excellence in Stroke Care)
Siloam Hospitals TB Simatupang WSO Angels Awards - DIAMOND STATUS (Excellence in Stroke Care)
Siloam Hospitals Lippo Village WSO Angels Awards - PLATINUM STATUS (High Performing Hospitals)
Siloam Hospitals Depok WSO Angels Awards - GOLD STATUS (The First-Tier Awards)
Siloam Hospitals Purwakarta WSO Angels Awards - GOLD STATUS (The First-Tier Awards)
Siloam Hospitals Manpang WSO Angels Awards - GOLD STATUS (The First-Tier Awards)
Siloam Hospitals Lippo Village International Hospital Federation Honourable Mention - Dr Kwang Tae Kim Grand Hospital Award 2025
Siloam Hospitals Group Healthcare Asia Award Patient Safety Excellence Award
BIMC Kuta Global Health Summit Indonesia Indonesia Best Emergency and Trauma Hospital 2025
MRCCC Newsweek and Statista Asia Pacific Best Specialized Hospital in Oncology
Asia Pacific Best Specialized Hospital in Pulmonology
Siloam Hospitals Group Angels Initiative EMS Angels Award
IDN Fortune Indonesia - Change the World
Investor Trust Public Company with Diamond Achievement: The Best Corporate Emission Reduction
Transparency Awards
SWA Magazine Best Innovation in ESG Implementation
MURI MURI: Basic Life Support Training for 9,000 Non-Medical Community Members
MURI: 3,000 Breast Cancer Screenings
FIHRRST One of the Public Companies with the Best 2024 Sustainability Report - Grade A
CSA Award of Excellence - Analyst's Favorite Listed Company in the Healthcare Sector
Bloomberg Technoz 20 Top Companies to Watch
SWA Magazine
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SEGMENT BUSINESS UNITS ORGANIZER AWARD TITLE
Healthcare Siloam Hospitals Group SWA Magazine Indonesia Best Business Transformation Award
Top 3 Wealth Creator of the Middle Market Capitalization Category
TOP Brand Top Brand Award: Private Hospital Network
IDN Fortune Award - Top 3 Healthcare Fortune Company
Siloam Hospitals Lippo Village Perhimpunan Rumah Sakit Seluruh Indonesia (PERSI) Best Hospital for Neurology Services
Best Hospital for Cardiology (Heart) Services
MRCCC Top 10 Cancer Hospital
Lifestyle Aryaduta Hotel Group The Iconomics Indonesia's Best Hospitality Brand
World Travel Awards Indonesia's Leading Hotel Group 2025
Traveloka Traveloka Hotel Awards 2025 - Collaborative Excellence
Indonesia Travel & Tourism Awards Indonesia's Leading Hotel Chain 2025
Aryaduta Menteng Exquisite Media Awards Best Japanese Restaurant 2025 - SHIMA
Best Wedding Venue in Jakarta 2025
Aryaduta Lippo Village TripAdvisor TripAdvisor Travellers' Choice Awards 2025
Aryaduta Bali TripAdvisor Travellers' Choice Awards 2025
TripAdvisor Travellers' Choice Award 2025 - Henry's Steakhouse
Aryaduta Bandung TripAdvisor Travellers' Choice Awards 2025
Aryaduta Medan TripAdvisor TripAdvisor Travellers' Choice Awards 2025
Traveloka Exceptional Guest Experience Prestige 2025
Aryaduta Pekanbaru TripAdvisor TripAdvisor Travellers' Choice Awards 2025
Traveloka Exceptional Guest Experience Prestige 2025
INFOBRAND.ID & TRAS N CO Indonesia Top SDG Award 2025
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Sustainability Agenda
2025 PERFORMANCE VS 2030 TARGETS
ENHANCING QUALITY OF LIFE CARING FOR OUR ENVIRONMENT INVESTING IN OUR PEOPLE CHAMPIONING BEST PRACTICES
AFFORDABLE HOUSING CO2 OPERATIONAL EMISSIONS OCCUPATIONAL HEALTH & SAFETY BUSINESS ETHICS
2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE
At least 90% of sold 94% of sold homes 35% reduction in 34% reduction in Zero fatalities Zero fatalities 100% completion rate 99% completion rate
homes priced under priced under building emissions building emissions for training on Code for training on Code
Rp 2 billion1 each year Rp 2 billion intensity3 by 2035, with intensity Zero high 1 high consequence of Conduct and anti- of Conduct and anti-
15% reduction by 2030 consequence injuries injury (Contractor) corruption policies corruption policies
COMMUNITY ENGAGEMENT Baseline: 0.16 k tCO₂e/m² (2019)
≤ 1 Lost Time Injury LTIFR (Employee): 0.30 Zero data privacy leaks Zero data privacy leaks
Frequency Rate (LTIFR) LTIFR (Contractor): 0.36 across all systems and across all systems and
WATER CONSUMPTION
2030 TARGET 2025 PERFORMANCE operations operations
5,000 PASTI activities2 4,563 PASTI activities
by 2030 (cumulative since 2022) 2030 TARGET 2025 PERFORMANCE TRAINING & DEVELOPMENT COMPLIANCE
At least 30% of water 34% of water
1 million PASTI 937,233 PASTI consumption from consumption from
beneficiaries by 2030 beneficiaries sustainable sources4 sustainable sources 2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE
(cumulative since 2022) each year Average 15 training Average 23.6 training Zero cases of non- Zero cases of non-
hours per employee hours per employee compliance with compliance with
laws and regulations laws and regulations
GREEN BUILDING CERTIFICATION WATER TREATMENT At least 1,000 ESG 1,394 ESG resulting in fines and/ resulting in fines and/
training hours each year Training Hours or sanctions or sanctions
2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE
Zero legal cases of Zero legal cases of
600,000 m² GFA 487,000 m² GFA At least 1,000,000 m³ 1,588,881 m³ of corruption, fraud and corruption, fraud and
of asset portfolio to Green Building of treated water from treated water from 1
Inflation-adjusted IDR 2 billion at 2022 levels bribery bribery
be green building Certified sustainable sources4 sustainable sources 2
PASTI is the Group framework for community
certified by 2030 (cumulative since 2022) each year engagement and CSR initiatives
3
Scope 1 & 2 emissions intensity of high-rise residential
buildings, malls, and hotels (average)
SOLAR PANEL CAPACITY WASTE DIVERSION 4
Sustainable water sources include recycled wastewater PROCUREMENT
and harvested rainwater
2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE 2030 TARGET 2025 PERFORMANCE
5,000 kWp Solar PV 1,898 kWp Solar PV At least 3,000 tons of 3,244 tons of waste Formulate Group Continue collection of
installed by 2030 installed waste diverted from diverted from landfill Sustainable Procurement signed commitments
(cumulative since 2022) landfill each year Policy, and socialize with key vendors
requirements to vendors
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix
OUR SUSTAINABILITY Sustainability Framework
Sustainability Governance
APPROACH Materiality Assessment & Stakeholder Engagement
Supporting UN SDGs & UNGC Principles
Climate & Sustainability Risks & Opportunities
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Sustainability Framework
In line with our Group’s overarching vision of “Growing in
Stewardship, Transforming Lives”, we place sustainability
at the heart of everything we do. We are committed
to being responsible stewards of the resources,
environment, and communities placed under our care.
As a forward-looking company, we strive to pursue VISION Advancing the Well-Being of Indonesians at Every Stage of Life
sustainable growth and deliver transformative impact to
the millions we serve throughout the archipelago, as well
as the future generations to come. We recognize that Enhancing Caring for Investing in Championing
we cannot do this alone, which is why we work together Quality of Life Our Environment Our People Best Practices
with the myriad business partners and stakeholders
Drive sustainable Improve resource Create a fair and Uphold highest
across our value chain to adopt ESG best practices and
economic growth efficiency and reduce inclusive workplace standards of corporate
leverage our respective strengths. Together, we stand throughout Indonesia environmental footprint governance
united for a better Indonesia. Prioritize health, safety
Provide quality living Develop greener and well-being Promote sustainable
and socioeconomic products and processes practices across
At LPKR, we aspire to advance the well-being of
opportunities for local Develop and empower value chain
Indonesians at every stage of life. Our Sustainability communities Mitigate climate risks staff to unlock their
Framework articulates our approach to sustainable value and capitalize on new full potential Improve accountability
Innovate to enhance opportunities and transparency in
creation for our stakeholders across four key pillars : 3
offerings and enrich the ESG performance
customer experience
1) Enhancing Quality of Life
2) Caring for Our Environment
3) Investing in Our People
4) Championing Best Practices
Supported by a robust sustainability governance
structure, this Framework guides the integration
of sustainability into our business strategy,
policies, and operations. 3
These pillars correspond with the four overarching themes of the WEF Stakeholder Capitalism Metrics – Prosperity, People, Planet, and Principles of Governance.
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Sustainability Governance
At LPKR, we are committed to integrating As the lead governing bodies of LPKR, the BoD and BoC provide strategic
direction for the Group, ensuring that its approach to material ESG issues
sustainability into our organizational structure
aligns with the interests of the business and stakeholders. The BoD bears
and governance framework. We believe that GOVERNANCE & BOARD OF BOARD OF
ultimate responsibility for the Group’s ESG performance, while the BoC serves
ACCOUNTABILITY DIRECTORS COMMISSIONERS
a robust sustainability governance structure, as a supervisory and advisory body to the BoD. Both Boards review the Group’s
which emphasizes our ESG priorities across all sustainability targets and performance, as well as approve relevant disclosures,
such as the Sustainability Report.
organizational levels, enables us to serve our
stakeholders in a more responsible manner.
The ESG Committee is appointed by the BoD to set the direction for the
Our sustainability governance is spearheaded Group’s ESG strategy, policies, and initiatives, as well as exercise oversight over
by the ESG Committee, anchored by the ESG the Group’s ESG performance. Chaired by the President Director, the ESG
STRATEGY & Committee consists of BoD Members and Senior Executives who hold positions
Steering Group, and supported by champions OVERSIGHT
ESG COMMITTEE
of responsibility and/or possess expertise which are relevant to the Group’s
from the relevant corporate functions and ESG strategy and policies. The ESG Committee reports to the BoD and BoC to
our business units. The Group Sustainability seek guidance on ESG priorities and workplans, and to provide updates on the
Group’s ESG performance. The ESG Committee meets at least four times a year.
Function acts as a “Centre of Excellence” to
support the ESG Committee, ESG Steering
Group, and each business unit in their respective
The ESG Steering Group is the platform through which the Group’s ESG strategy
ESG journeys. Together, they are responsible for
is operationalized. Led by the Group Head of Sustainability, it comprises key
formulating the Group’s sustainability strategy ESG STEERING GROUP
representatives from our business units and relevant corporate functions
and driving initiatives to achieve the Group’s MANAGEMENT, including Risk Control and Assurance, Corporate Secretary, Human Resources,
COORDINATION, Group ESG PICs ESG PICs Investor Relations, and Corporate Communications. The ESG Steering Group
ESG targets and commitments. This structure
MONITORING Sustainability (Corporate (Business is responsible for executing workplans approved by the ESG Committee and
provides multiple channels through which we Function Functions) Units) monitoring ESG performance in their respective areas of operation. When
can escalate ESG risks and issues of concern, necessary, the ESG Steering Group convenes working groups to socialize
remediate negative impacts, and undertake workplans, create alignment, and drive progress in specific ESG workstreams.
policy reviews where necessary. Bottom-up input
from the business units and corporate functions
Our business units, with support from the relevant corporate functions, are held
is frequently tabled to the ESG Committee for accountable for their ESG performance through regular reporting to the ESG
EXECUTION BUSINESS UNITS
consideration and follow-up. Committee via the ESG Steering Group.
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Materiality Assessment & Stakeholder Engagement
PROCESS OF IDENTIFYING 2. Double Materiality Assessment: Participants
MATERIAL TOPICS [GRI 3-1 to 3-3] engaged in a survey to evaluate topics through
a double materiality lens. This involved assessing
Every year, we perform a materiality assessment to Impact Materiality on our external footprint on society
review the ESG topics that have a material impact and the environment alongside Financial Materiality
on our business and our stakeholders. This year, we focusing on the internal influence of sustainability
conducted a review of our material topics through factors on our financial performance and
focus group discussions. In line with the best global long-term viability.
practices, we have institutionalized a rigorous four- 3. Stakeholder Prioritization: Finally, to ensure
step materiality process to identify the ESG topics most our strategy remains responsive to the external
critical to our organization. This methodology allows us landscape, we prioritized these validated topics
to effectively balance diverse stakeholder perspectives based on their importance to our stakeholders. This
while confirming the year-on-year relevance of our final layer of analysis ensures that our ESG focus stays
priority issues. By adopting this focused and targeted aligned with market expectations and the needs of
approach, we ensure that sustainability is not a the communities we serve.
standalone initiative, but a core component strategically 4. Governance Oversight and Approval: The final set of
integrated into our holistic business practices and ESG topics and the resulting materiality matrix were
long-term decision-making. reviewed and approved by the ESG Committee, with
subsequent validation by the Board of Directors and
The determination of our material topics followed a the Board of Commissioners. This top-down mandate
structured, four-step methodology: ensures that our sustainability priorities are fully
integrated into our broader corporate strategy.
1. Internal Validation and Relevance: We initiated
the process with Focus Group Discussions (FGDs) As our business landscape continues to evolve, we
involving management-level representatives from remain committed to regularly reviewing the relevance
every business unit. This stage ensured that the of these material topics, updating our priorities where
identified topics were grounded in our current necessary to reflect the most significant impacts and
operational realities and remained relevant to opportunities for our business.
our corporate identity.
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STAKEHOLDER ENGAGEMENT [GRI 2-29]
We strive to build positive relationships and actively engage with our internal and external stakeholders throughout the year. Stakeholders are defined as individuals or groups that
have interests that are affected or could be affected by the Group’s activities. These individuals or groups are identified through screening by the Group Sustainability Function and
are engaged through regular touchpoints and various feedback channels, such as surveys and focus group discussions. By consistently communicating across diverse platforms and
employing feedback mechanisms, we gain a deeper understanding of our stakeholders and their emerging needs and concerns. Upon identifying emerging needs and concerns
among stakeholders, the Group reviews these issues and makes subsequent adjustments. These adjustments will be thoughtfully incorporated or duly considered in the decision-
making process. We ensure good communication with stakeholders by publishing materials, including quarterly financial results, press releases, and investor presentations. In addition,
as a publicly listed entity, we regularly disclose information and announcements through the Indonesia Stock Exchange (IDX) and shareholder meetings, as well as actively engage in
investor meetings, media gatherings, and various conferences. We also continue to improve internal communication with our employees through our internal newsletters and events,
as well as regular socialization on ESG topics - please refer to “Employee Engagement & Retention” on page 80 for more information. The table below highlights the Group’s response
to specific stakeholder concerns.
Government & Industry
Employees Investors & Rating Agencies Customers & Tenants Communities Vendors & Suppliers
Associations
• Employee benefits and assistance • Investor meetings • Regular interaction with national/ • Product launches and customer • Public spaces and programs • Tenders
• Training programs (internal/ • Investor releases and presentations local government agencies events • Social engagement and CSR • Vendor/supplier policies
external) • Quarterly earnings calls • Permits and licensing approvals • Tenant agreements activities • Regular engagement
How We Engage
• Employee engagement activities • Investor conferences and roadshows • Events organized by government • Digital applications and services • Online and offline media • Collaboration with local
• Career and talent development and industry associations • Customer service and guest engagement vendors
• Annual and Sustainability Reports
programs relations
• General Meeting of Shareholders
• Company policies • Surveys, feedback platforms, and
• Extraordinary General Meeting of
• Volunteerism market research
Shareholders
• Annual Gathering • Social media channels
• Infinity Newsletter
• Lippo Fun Club
• Internal ESG alignment and buy- • Price volatility and inflationary • Evolving regulatory frameworks • Quality of feedback • Measurement of social impact • Nascent awareness of
Challenges
in within the company pressures • Advocacy for ESG priorities • Complaints that are difficult to • Approach to CSR limited to ESG best practices and
sustainable supply chain
Our
• ESG initiatives not yet embraced • Stock performance resolve immediately philanthropic activities
across the company • Global uncertainties from • Effectiveness of
geopolitical conditions and communication channels
macroeconomic factors
• Weekly updates on company • Provide timely updates to bond and • Maintain engagement with • Improve products and services • Implement Group social • Promote business ethics
news and activities equity investors through conference agencies and institutions to ensure through soliciting regular engagement framework through Vendor Integrity
• Increase employee training hours calls and investor release compliance feedback (PASTI) Pledge and Sustainable
How We Respond
and leadership development • Improve transparency in disclosures • Support KADIN initiatives through • Enhance customer and tenant • Newsletters and social media Procurement Policy
programs (e.g. enhancing ESG disclosures – B20 participation and ESG experiences through innovation engagement • Recognize achievements of
• Update Code of Conduct to TCFD, SASB) taskforces • Increase engagement via digital • Increase community good performers
promote business and ethics • Regular meetings to understand • Become a UNGC member platforms (e.g. MySiloam app) engagement and volunteering • Prioritize local vendors and
• Promote greater diversity, equity, and address external stakeholders’ • Conduct CSR activities in • Speed up complaint resolution small businesses
and inclusion at the workplace concerns partnership with local government processes
• Campaigns on health and • Engage rating agencies to agencies
wellness, environmental understand ESG rating criteria • Participate in surveys by OJK and
awareness, and community • Discussions on ESG best practices IDX
engagement and other topics such as sustainable
financing
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Updated Material Topics and Management
MATERIAL INTERNAL EXTERNAL GRI STANDARD 2025 FUTURE
In 2025, we conducted a comprehensive review to map TOPICS STAKEHOLDERS STAKEHOLDERS DISCLOSURES MATERIALITY IMPORTANCE
CHANGES
the relevance of each material topic to our specific
Board
Management
General Employees
Investors & Rating Agencies
Customers & Tenants
Vendors & Suppliers
Government & NGOs
Local Communities
stakeholder groups. This engagement process allows us
to pinpoint which ESG issues carry the greatest weight
for each partner, from investors to local communities.
By identifying these critical touchpoints, we have
established a framework that ensures our priorities
are not only aligned with stakeholder expectations but
also drive measurable value where it is needed most. In
addition, we conducted an internal stakeholder survey to
Governance & Y Y Y Y Y Y Y GRI 2: General Disclosures = High
Accountability (Governance)
assess the trends of the material topics and focus value
Data Privacy & Y Y Y Y Y Y Y GRI 418: Customer Privacy High
year on year with future relevance of our core material Security
topics from an organizational perspective and to help Product Innovation Y Y Y Y Y GRI 203: Indirect Economic High
shape our future strategic approaches. This assessment Impacts
allows us to understand the changing dynamics that Economic Y Y Y Y Y Y Y GRI 201: Economic Performance Medium
Contribution
impacts our organisation.
Customer Service & Y Y Y Y Y GRI 417: Marketing & Labelling; High
2025 Materiality Matrix Satisfaction GRI 418: Customer Privacy
Energy Efficiency & Y Y Y Y Y Y Y GRI 302: Energy; GRI 305: High
Customer Service
Emissions Emissions
& Sarisfaction Data Privacy &
Economic Security
Occupational Health Y Y Y Y Y
Contribution
GRI 403: Occupational Health & Medium
& Safety Safety
Governance &
Product Accountability
Water Innovation
Stewardship
Water Stewardship Y Y Y Y Y Y Y GRI 303: Water and Effluents Medium
Financial Materiality
Energy Efficiency
& Emmisions
Ethics & Compliance Y Y Y Y Y Y GRI 205: Anti-Corruption; GRI 206: Medium
Ethics &
Compliance Anti-Competitive Behavior
Waste
Management
Occupational Community Support Y Y Y Y Y GRI 203: Indirect Economic Medium
Health & Safety
& Engagement Impacts; GRI 413: Local
Employment &
Community Supoort
Rights
& Engagement Communities
Training &
Development Employment & Y Y Y Y Y Y Y Y GRI 401: Employment; GRI 402: Medium
Rights Labor/Management Relations
Impact Materiality
Enhancing Quality of Life Investing in Our People Training & Y Y Y Y Y Y
GRI 404: Training & Education = Medium
Caring for Our Environment Championing Best Practices Development
Moderately Material Highly Material Critically Material Waste Management Y Y Y Y Y Y Y GRI 306: Waste High
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix Supporting UN SDGs & UNGC Principles The UN Sustainable Development Goals (SDGs) serve as a global framework guiding In 2022, we became a signatory to the United Nations Global Compact (UNGC). By joining governments and businesses in advancing sustainable development while improving the world’s largest corporate sustainability initiative, we are pledging our commitment the well-being of people, societies, and the planet. We are committed to aligning our to support the UNGC’s Ten Principles on human rights, labor, environment, and anti- ESG strategy to meet the underlying actions and priorities of the UN SDGs, as well corruption, as well as to take strategic actions to advance the UN SDGs. as Indonesia’s 2030 Agenda to our business operations and where we can create the most significant impact. We have mapped our sustainability framework and material This Report contains our disclosures based on the UNGC’s Ten Principles – please refer ESG topics to 13 out of 17 UN SDGs which we believe are relevant. The UN SDGs rally to “Content Index” on page 116. governments and corporations to advance the well-being of people, societies, and the planet by providing a blueprint to address the world’s most pressing development challenges. We are committed to aligning our ESG strategy to meet the underlying actions and priorities of the UN SDGs, as well as Indonesia’s 2030 Agenda to our business operations and where we can create the most significant impact. 27 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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SUPPORTING UN SDGS OUR CONTRIBUTIONS ESG TOPICS
G OAL 3 • Provide quality and accessible healthcare across • Economic Performance
Good Health & Well-being Indonesia, including remote areas. • Community Support and Engagement
TARGET 3. 8 TAR G E T 3 .C • Promote health and wellness through public • Customer/Tenant Engagement
Achieve universal health coverage, including Substantially increase health financing and campaigns.
financial risk protection, access to quality the recruitment, development, training • Occupational Health and Safety
essential health-care services and access to and retention of the health workforce in • Provide customers, visitors and employees with a
safe, effective, quality, and affordable essential developing countries, especially in least safe and healthy living and working environment.
medicines and vaccines for all. developed countries and small island
developing States.
G OAL 4 • Equip employees with the necessary skills through • Community Support and Engagement
Quality Education training and development to fulfil their career • Employment
aspirations.
TARGET 4 . 4 • Training and Development
By 2030, substantially increase the number of youth and adults who have relevant skills, • Ensure access to quality education and vocational
including technical and vocational skills, for employment, decent jobs, and entrepreneurship. training across Indonesia.
G OAL 5 • Promote gender equality and empower women • Employment
Gender Equality at the workplace. • Diversity and Equal Opportunity
TARGET 5.1 TAR G E T 5 . 5 • Eradicate all forms of workplace discrimination • Non-Discrimination
End all forms of discrimination against all Ensure women’s full and effective participation and establish effective channels for grievances.
women and girls everywhere. and equal opportunities for leadership at
all levels of decision making in political,
economic, and public life.developing States.
G OAL 6 • Equip employees with the necessary skills through • Community Support and Engagement
Clean Water and Sanitation training and development to fulfil their career • Employment
aspirations.
TARGET 6 . 3 TAR G E T 6 . 4 • Training and Development
By 2030, improve water quality by reducing By 2030, substantially increase water-use • Ensure access to quality education and vocational
pollution, eliminating dumping, and efficiency across all sectors and ensure training across Indonesia.
minimizing release of hazardous chemicals sustainable withdrawals and supply of
and materials, halving the proportion of freshwater to address water scarcity and
untreated wastewater, and substantially substantially reduce the number of people
increasing recycling and safe reuse globally. suffering from water scarcity.
G OAL 7 • Increase energy efficiency to lower carbon Energy Efficiency and Emissions
Affordable and Clean Energy emissions and operational costs.
TARGET 7. 2 TAR G E T 7. 3 • Switch to renewable energy through the adoption
By 2030, increase substantially the share of By 2030, double the global rate of of technologies such as rooftop solar photovoltaic
renewable energy in the global energy mix. improvement in energy efficiency. (PV) systems.
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SUPPORTING UN SDGS OUR CONTRIBUTIONS ESG TOPICS
G OAL 8 • Contribute to the local economy and MSMEs • Economic Performance
Decent Work and Economic Growth through job creation and business partnerships. • Community Support and Engagement
TARGET 8 .1 TAR G E T 8 . 8 • Protect and promote human rights and labor rights • Employment
Sustain per capita economic growth in Protect labor rights and promote safe and at the workplace.
accordance with national circumstances secure working environments for all workers,
and, in particular, at least 7% gross domestic including migrant workers, in particular
product growth per annum in the least women migrants, and those in precarious
developed countries. employment.
G OAL 9 • Provide products and services that meet • Product Innovation
Industry, Innovation and Infrastructure infrastructural and social needs through • Energy Efficiency and Emissions
continuous innovation.
TARGET 9. 4 TAR G E T 9. 5
By 2030, upgrade infrastructure and retrofit Enhance scientific research, upgrade the • Implementing green building practices such as
industries to make them sustainable, with technological capabilities of industrial sectors in energy audits and building management systems.
increased resource-use efficiency and greater all countries, in particular developing countries,
adoption of clean and environmentally sound including, by 2030, encouraging innovation
technologies and industrial processes, with and substantially increasing the number of
all countries taking action in accordance with research and development workers per 1 million
their respective capabilities. people and public and private research and
development spending.
G OAL 10 • Advocate for equitable employment practices and • Employment
Reduced Inequalities DEI principles in the workplace. • Diversity and Equal Opportunity
TARGET 10. 2 TAR G E T 10. 3 • Reinforce zero tolerance policy for discrimination. • Non-Discrimination
By 2030, empower and promote the social, Ensure equal opportunity and reduce
economic and political inclusion of all, inequalities of outcome, including by
irrespective of age, sex, disability, race, eliminating discriminatory laws, policies
ethnicity, origin, religion or economic or and practices and promoting appropriate
other status. legislation, policies, and action in this regard.
G OAL 11 • Provide affordable housing options that cater to • Community Support and Engagement
Sustainable Cities and Communities different market segments in Indonesia, especially • Product Innovation
first-home owners.
TARGET 11.1 TAR G E T 11.6 • Waste Management
By 2030, ensure access for all to adequate, safe, By 2030, reduce the adverse per capita • Contribute to local communities and nurture a
and affordable housing and basic services and environmental impact of cities, including by society that is inclusive and vibrant.
upgrade slums. paying special attention to air quality and
municipal and other waste management. • Minimize any negative environmental impacts
through an environmental impact assessment and
responsible waste management.
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SUPPORTING UN SDGS OUR CONTRIBUTIONS ESG TOPICS
G OAL 12 • Reduce the consumption of natural resources and • Energy Efficiency and Emissions
Sustainable Cities and Communities optimize resource efficiency across operations and • Water Stewardship
the entire value chain.
TARGET 12 . 2 TAR G E T 12 . 5 • Waste Management
By 2030, achieve the sustainable management By 2030, substantially reduce waste • Minimize waste generation and enhance waste
and efficient use of natural resources. generation through prevention, reduction, diversion at all managed assets and townships.
recycling and reuse.
• Raise environmental awareness among
stakeholders.
G OAL 13 • Incorporate climate-related risks and opportunities • Energy Efficiency and Emissions
Climate Action in strategy and risk management. • Governance and Accountability
TARGET 13. 2 TAR G E T 13 . 3 • Provide training on climate change mitigation and
Integrate climate change measures into Improve education, awareness-raising and adaptation to build capacity.
national policies, strategies, and planning. human and institutional capacity on climate
change mitigation, adaptation, impact • Align ESG priorities with global and national
reduction and early warning. sustainability agendas.
G OAL 15 • Reduce any negative impacts on biodiversity due to • Biodiversity
Life on Land our operations.
TARGET 15.5 • Actively preserve and revitalise natural
Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of environments in urban areas.
biodiversity and, by 2020, protect and prevent the extinction of threatened species.
G OAL 16 • Uphold the highest standard of corporate • Non-Discrimination
Peace, Justice and Strong Institutions governance and conduct our business with • Governance and Accountability
integrity.
TARGET 16 .5 TAR G E T 16 . B • Anti Corruption / Anti Competitive
Substantially reduce corruption and bribery in Promote and enforce non-discriminatory laws • Enhance accountability and transparency in ESG
all their forms. and policies for sustainable development. disclosures.
TARGET 16 .6 • Establish a non-discriminatory workplace
Develop effective, accountable and
transparent institutions at all levels.
environment and reinforce zero tolerance for
discrimination.
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Climate & Sustainability Risks & Opportunities
As a real estate company managing a portfolio of within enterprise risk management, assessed with
Board of Commisioners (BoC)
buildings and physical assets in Indonesia, climate equal rigor to financial/operational risks
resilience is a core strategic priority. According to the • Institutionalized ESG audits: ESG data audits
Board of Directors (BoD)
INFORM Risk Index4, Indonesia faces significant risk formalized in the annual internal audit plan,
from natural disasters and human conflict. Recognizing ensuring data integrity and accountability
the inevitability of climate change and its increasing ESG Commitee
(ESG Strategy, Risk & Audit Function)
operational impact through extreme weather events GOVERNANCE [IFRS S1-27] [IFRS S2-6]
and other sustainability risks, we are accelerating
our mitigation and adaptation efforts to support To ensure proper oversight of climate and sustainability-
ESG Steering Group
a sustainable, low-carbon economy. related risks across the organization, the Group (Business Units + Sustainability Function)
integrates the associated risks into the ERM framework
CLIMATE RISK REPORTING in alignment with the TCFD recommendations, COSO
ERM framework and ISO 31000 Risk management
Since 2022, we have been publishing climate risk principles. Once risks are identified, they are Enterprise Risk
Management (ERM) Internal Audit (IAU)
reports in line with the TCFD recommendations. documented in a central register and prioritized by their Top-down & bottom-up Annual Audit Plan incl. ESG
Risk Identification
In 2023, we conducted our first high-level scenario impact and probability. This assessment undergoes a Interviews | Document Verification |
Strategic | Operational | Control Testing
analysis and quantitative financial impact assessment tiered review process involving Senior Management, Technology | Compliance |
Sustainability
on our portfolio of assets and operations. In 2024, Internal Audit, and the ESG Committee, with final
we transitioned towards ISSB-aligned reporting, oversight from the Board of Commissioners (BoC) and
by integrating sustainability risks into our climate the Board of Directors (BoD). Our BoD bears ultimate Risk Register
Impact & Probability Assessment
resilience strategy, applying double materiality towards responsibility for the Group’s ESG performance, while Mitigation & Adaptation Plans
these non-climate risks. our BoC serves as a supervisory and advisory body to
the BoD. The ESG Committee and ESG Steering Group
This year, we have built on our previous efforts by further ensure that sustainability considerations are ISSB / IFRS S1 & S2 Disclosure
• Effects on Business Model
focusing on three key areas: embedded into strategy, business planning, budgeting & Value chain
• Effects on Strategy & Decisions
• IFRS S1/S2 alignment: Enhanced financial impact and performance monitoring. The diagram below 4
The INFORM Risk Index is a global,
articulation, covering both current/anticipated illustrates how governance, risk management, internal open-source risk assessment
for humanitarian crises and
effects and impact materiality audit and ISSB-aligned disclosures are integrated across disasters. Each risk is scored out
Sustainability Report of 10. More information located
• Full ESG-ERM integration: ESG risks embedded the Group to support oversight, accountability and & Financial Reporting here - https://drmkc.jrc.ec.europa.eu/
inform-index
transparent reporting.
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STRATEGY [IFRS S1-27] [IFRS S2-6] 4. Strategic response and control evaluation
Identification and evaluation of mitigation and adaptation measures based on
In 2022, we conducted our first bottom-up climate risk assessment to evaluate the available resources and operational capabilities. This includes assessing how
climate-related risks and opportunities affecting our business across different asset risks influence strategic priorities, investment planning, operational decisions
classes and time horizons. Since then, there have been no material changes to the and long-term resilience
Group’s climate and sustainability risk assessment methodology. The results of this
assessment continue to be embedded within our ERM processes, supporting informed The outcomes of this assessment inform our business planning, risk management
strategic planning and capital allocation decisions. processes, and disclosure approach. A detailed description of our climate and
sustainability-related risks and opportunities, including their impacts and financial
In line with TCFD and ISSB frameworks, we continue to assess both physical and implications, is presented in the tables below.
transition risks across multiple time horizons. Sustainability-related risks and
opportunities remain integrated into our climate resilience strategy, applying both
financial and impact materiality lenses. For the identified risks, we disclose the effects
on our business model and value chain, the effects on strategy and decision-making, as
well as the current and anticipated financial effects.
Our climate risk assessment comprises the following stages:
1. Trend and regulatory analysis
Assessment of current and emerging climate trends relevant to our real estate,
healthcare and lifestyle assets, alongside a review of policies and regulatory
developments specific to Indonesia.
2. Risk identification and time horizon assessment
Evaluation of the magnitude and probability of identified climate-related risks across
short-, medium- and long-term horizons.
3. Financial and impact materiality assessment
Assessment of each identified risk using both financial and impact materiality
lenses, supported by an internal stakeholder survey involving key representatives
from every business unit. This process considers the potential effects on the
business model, value chain, asset performance, and broader environmental
and social impacts.
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CLIMATE-RELATED RISK IMPACT MATERIALITY FINANCIAL MATERIALITY
Physical risk Flood Flooding events may affect construction sites and operational assets located in flood-prone Flooding may result in increased repair and maintenance expenses for affected assets, higher
areas, resulting in temporary disruption to development activities and property operations. insurance premiums, and additional capital expenditure for flood-resilience measures.
Inherent risks are related to physical damage to assets, interruption of hotel, mall, and In the event of temporary asset closures, rental income and operating revenues from malls,
healthcare operations, and delays in construction timelines. hotels, and hospitals may be reduced.
Droughts Drought conditions may affect the Group’s operations by reducing the availability of water in Drought conditions may result in increased operating expenses related to water procurement
certain regions where we operate hotels, hospitals, townships, and mixed-use developments. and treatment, as well as additional capital expenditure for water recycling infrastructure.
Inherent risks are related to operational disruption due to water shortages, higher utility and These impacts would affect the Group’s financial performance through higher utility
operational costs, reduced service quality for tenants and customers, and reputational risks expenses, its financial position through increased investment in water-related assets, and its
associated with water shortage. cash flows through higher operational and capital cash outflows.
Heavy Precipitation (Storms) Extreme variability in weather patterns and heavy precipitation events may disrupt Heavy precipitation events increase the frequency and severity of damage to building
construction activities and damage buildings and infrastructure. envelopes, drainage systems, and construction sites, resulting in higher repair and
Inherent risks are related to construction delays, damage to roofing, façades, and drainage maintenance expenses across operational assets, higher construction costs and reduced
systems, increased safety risks at project sites, disruption to supply chains, and interruption to development margins.
asset operations.
Landslides Landslides may affect construction sites and assets located in hilly or geologically unstable Landslides may result in substantial repair costs and increased capital expenditure for site
areas. stabilization.
Inherent risks are related to physical damage to assets, disruption of construction and These costs would impact on the Group’s financial position through higher asset restoration
development activities, increased safety risks, and delays in project execution. costs, financial performance through increased expenses, and cash flows through unplanned
repair outflows. Although landslide events are less frequent, management notes that
associated repair costs can be significant when they occur.
Extreme waves & coastal abrasion (rising sea Rising sea levels and coastal abrasion may affect the value of assets over the long term. Coastal risks may lead to increased capital expenditure for asset protection and higher long-
levels) Inherent risks are related to erosion and structural degradation, reduced asset lifespan, and term maintenance costs.
potential impairment risks. These impacts would affect financial position through higher asset carrying values and
potential impairment considerations, financial performance through increased expenses, and
cash flows through long-term resilience investments.
Higher Temperatures (Heat Stress) Rising average temperatures increase cooling demand across the Group’s commercial, Higher temperatures increase cooling demand across malls, hotels, hospitals, and residential
residential, hospitality, and healthcare assets. assets, leading to higher electricity consumption and utility expenses.
Inherent risks are related to increased energy consumption, reduced operational efficiency, This results in increased operating costs, reducing operating margins and overall financial
higher operating costs, and impacts on tenant and customer comfort and productivity. performance. The impact is reflected in cash flows through higher recurring operating cash
outflows associated with energy usage.
Transitional risks Greater expectations and demand from Increasing expectations from customers and investors for sustainable buildings and services Responding to sustainability expectations requires additional capital and operating
customers and investors for more sustainable may affect the competitiveness of the Group’s assets. expenditure, affecting cash flows in the short term.
products and services These investments may positively affect financial performance and asset valuation over the
medium to long term through improved occupancy rates, asset resilience, and financing
terms.
Disruption of new (low emission) technology Rapid development of low-emission technologies may impact the efficiency and relevance of The transition to newer low-emission technologies may require additional capital expenditure
existing systems across the Group’s asset portfolio. for system upgrades, retrofitting, and integration with existing assets, increasing the carrying
Inherent risks are related to technology obsolescence, operational disruption during upgrades, value of property and equipment and, over time, depreciation expenses.
and increased capital replacement requirements. These investments affect financial performance through higher depreciation and potential
implementation costs, and cash flows through increased upfront capital outlays.
.
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CLIMATE-RELATED RISK IMPACT MATERIALITY FINANCIAL MATERIALITY
Transitional risks More stringent building regulations More stringent building and environmental regulations affect the design, construction, and More stringent building and sustainability regulations may increase development,
approval processes of new developments. compliance, and documentation costs, as well as require additional investments in design
Inherent risks are related to increased compliance requirements, longer project timelines, and modifications and certified materials.
higher development complexity. These impacts affect financial performance through higher project and compliance-related
expenses and reduced development margins, and cash flows through increased upfront
capital investments.
Increase in energy cost Rising energy costs increase operating expenses across the Group’s assets. Rising energy prices increase operating expenses across the Group’s portfolio of malls, hotels,
Inherent risks are related to margin pressure, reduced profitability, and higher operating costs. hospitals, offices, and residential assets, as energy-intensive systems such as air conditioning,
lighting, and vertical transportation account for a significant portion of operating costs.
Higher energy costs reduce operating margins and overall financial performance, particularly
for assets where energy expenses cannot be fully passed on to tenants or customers.
The impact is reflected in cash flows through higher recurring operating cash outflows for
electricity and fuel, reducing net operating cash inflows.
More stringent carbon tax The introduction of more stringent carbon taxation may increase costs associated with energy The introduction or tightening of carbon taxation mechanisms may increase operating costs
consumption and construction activities. for energy-intensive assets and development activities, either directly through carbon charges
Inherent risks are related to higher operating costs and reduced project margins. on fuel and electricity consumption or indirectly through higher costs passed on by suppliers
and contractors.
These impacts would affect financial performance through increased operating and
development expenses and reduced margins, and cash flows through higher recurring
operating payments and upfront capital expenditures for emissions reduction measures.
Increase in cost of materials and equipment Rising costs of construction materials and equipment affect project feasibility and profitability. Increases in the cost of construction materials and equipment raise development expenses
Inherent risks are related to cost overruns, margin compression, and potential delays in across the Group’s asset portfolio, reducing project margins and overall financial performance.
development. Higher input costs are reflected in the financial position through increased capitalized project
costs within investment properties and property, plant, and equipment.
These impacts also affect cash flows through higher construction-related cash outflows and
increased working capital requirements during the development phase.
This year we reviewed the findings from previous years to evaluate sustainability-related 3. Carried out a survey to prioritize sustainability risks based on both their financial
risks and opportunities. This evaluation aims to align with the recommendations from materiality (potential impact on our business) and impact materiality (potential
the International Sustainability Standards Board (ISSB). impact on the environment and society)
4. The prioritized risks were reviewed by the ESG working group and approved by the
Our sustainability risk assessment comprised the following stages: ESG Committee
1. Review of material topics, risks & opportunities identified by the Sustainability A detailed description of our sustainability-related risks and opportunities can be found
Accounting Standards Board (SASB) in the Real Estate and Real Estate services in the following tables:
industry
2. Conducted a focus group discussion with management representatives from each
business unit to validate sustainability material topics and risks
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SUSTAINABILITY-RELATED RISK IMPACT MATERIALITY FINANCIAL MATERIALITY
Tenant Demand Shifts in consumer behaviour, affordability pressures, and evolving expectations for safety, accessibility, Shifts in tenant demand may affect financial performance through lower rental and service charge
and sustainability may reduce demand for certain asset types or locations. income, increased leasing costs, and reduced margins.
This risk could impact the Group in several ways, including: Over the medium term, additional capital expenditure may be required for asset refurbishment or
• Reduced occupancy rates and tenant turnover: declining or shifting demand may lead to higher repositioning to align with evolving tenant expectations, affecting the Group’s financial position and
vacancy levels and increased leasing volatility. cash flows.
• Pressure on rental rates and lease terms: tenants may demand more flexible contracts, incentives,
or lower rents, affecting income stability.
• Impact on asset attractiveness and competitiveness: assets that do not align with tenant
expectations may experience reduced footfall and weaker tenant mix, affecting downstream service
providers and property management operations.
Resource Consumption – Water Inefficient water consumption across the Group’s property development and operational assets may High water consumption affects the Group’s financial performance through increased operating
adversely affect the Group’s business model, operational continuity, and long-term value creation. expenses, particularly in assets with high water demand such as hospitals, hotels, and large retail
This risk could impact the Group in several ways, including: complexes.
• Increased water consumption and exposure to water stress may lead to operational constraints, These may also affect cash flows through higher recurring utility payments and additional capital
including reduced availability of reliable water supply, increased dependence on external water investments required to secure reliable water supply.
providers, and higher vulnerability to service disruptions in water-stressed regions.
• Inefficient water use may also weaken tenant satisfaction and customer experience, particularly
in assets where uninterrupted water supply is critical, such as healthcare facilities and hospitality
operations.
Resource Consumption – Energy Inefficient energy usage increases operating complexity and cost pressures and heightens exposure to High energy consumption directly affects the Group’s financial performance.
energy supply disruptions and price volatility due to fluctuations in energy tariffs. These costs could increase operating expenses, reduce margins and may limit the Group’s ability to
This risk could impact the Group in several ways, including: competitively price rents and service charges.
• Elevated energy consumption may also negatively affect tenant satisfaction and customer
experience through higher service charges, reduced affordability, and potential operational
constraints.
Energy Related Regulations Increasingly stringent energy-related regulations may affect the Group’s business model by increasing Energy-related regulations may increase development and operating costs through higher capital
compliance requirements across the development, construction, and operation of its property portfolio. expenditure for energy-efficient systems, compliance audits, certification processes, and ongoing
This risk could impact the Group in several ways, including: monitoring.
• These regulations may affect the increasing complexity in design, construction, procurement, and These costs affect financial performance through higher depreciation and operating expenses,
facility management activities. particularly for older assets requiring retrofitting.
• Non-compliance or delayed adaptation could reduce asset attractiveness to tenants and users.
• In addition, regulatory misalignment could limit the Group’s ability to obtain permits, certifications,
or financing, potentially affecting development timelines and downstream leasing and operational
activities.
Labor Practices – Hiring Ineffective hiring practices and challenges in attracting qualified talent may lead to operational High energy consumption directly affects the Group’s financial performance through increased
inefficiencies, delays in project execution, and reduced service quality. operating expenses, reduce margins and may limit the Group’s ability to competitively price rents and
This risk could impact the Group in several ways, including: service charges.
• Inadequate hiring practices may also impact employee morale and retention, increase turnover and
disrupting operational continuity.
• Affecting the Group’s reputation as an employer, limiting its ability to attract talent and support
long-term business growth.
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SUSTAINABILITY-RELATED RISK IMPACT MATERIALITY FINANCIAL MATERIALITY
Labor Practices – Diversity Insufficient diversity and inclusion across the Group’s workforce and senior leadership Insufficient diversity may affect financial performance through higher staff turnover, increased
This risk could impact the Group’s business model, organizational effectiveness, and long-term value recruitment and training expenses, and reduced productivity.
creation, including: Reputational impacts associated with diversity shortcomings could affect the Group’s intangible assets,
• Reduced innovation and decision quality including brand value and employer reputation, with potential implications for tenant relationships,
investor perception, and long-term enterprise value.
• Challenges in attracting and retaining talent
• Reputational and stakeholder risks
Labor Practices – Training Insufficient employee training may lead to operational inefficiencies, lower service quality, and Investments in training are treated as capitalized or operational human capital expenses that enhance
increased risk of errors or safety incidents, particularly in specialized roles such as facility management, employee productivity and reduce long-term operational risks.
medical operations, and technical construction positions. Over the medium to long term, insufficient training may lead to reduced workforce performance,
This risk could impact the Group in several ways, including: higher turnover, and increased reliance on external consultants or temporary labor, all of which could
• Limited training opportunities can also affect talent retention and workforce motivation, thus negatively impact cash flows and profitability.
increasing turnover rates.
• Insufficient investment in training may hinder the adoption of new technologies, sustainable
building practices, and ESG initiatives, limiting the Group’s ability to innovate and respond to
evolving regulatory, environmental, and social expectations.
Fines & Penalties from fraud Incidents of fraud may disrupt operational processes, reduce efficiency, and increase administrative Financial implications of fraud include direct costs such as fines, penalties, legal fees, and remediation
burdens due to investigations, internal audits, and corrective actions. expenses. Penalties imposed by regulatory authorities could reach material amounts depending on the
This risk could impact the Group in several ways, including: scale and severity of the incident.
• Irregularities in procurement or vendor management can result in higher input costs, project These costs directly affect financial performance through reduced net income and higher operational
delays, or substandard materials, affecting construction quality and operational reliability. expenses.
• Fraud-related risks also extend to the Group’s reputation, which is critical for tenant trust, investor
confidence, and key stakeholders, including banks, contractors, tenants, and regulators, potentially
limiting access to financing, high-quality contractors, or new business opportunities.
Health & Safety The company relies on safe and healthy work environments to ensure operational continuity. Direct costs include medical expenses, insurance premiums, compensation payments, fines for
This risk could impact the Group in several ways, including: regulatory non-compliance, and investments in safety systems and training.
• Workplace accidents, occupational illnesses, or safety non-compliance may disrupt construction These costs reduce financial performance through increased operating expenses and may affect net
timelines, delay property operations, or temporarily suspend healthcare or hospitality services margins.
• Repeated health and safety failures can damage the Group’s reputation with tenants, customers,
investors, and regulatory bodies, reducing competitiveness and long-term growth potential.
Cyber Security Cyberattacks, data breaches, or ransomware incidents may disrupt critical business processes, delay Cybersecurity incidents can have substantial financial consequences. Direct costs include incident
service delivery, and compromise sensitive tenant, customer, and employee data. response, forensic investigations, legal and regulatory fines, notification obligations, and potential
This risk could impact the Group in: settlements with affected parties.
• Cybersecurity failures Damaging stakeholder trust, erode the company’s reputation, and reduce These expenses can reduce financial performance by increasing operating costs and negatively
tenant impacting net margins.
• Reduced customer confidence in the security of their data, potentially affecting leasing, hotel Indirect effects may include business interruption costs, lost revenue due to downtime, reputational
bookings, healthcare services, and investor perceptions. damage affecting tenant retention and new leasing, and higher insurance premiums.
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SUSTAINABILITY-RELATED RISK IMPACT MATERIALITY FINANCIAL MATERIALITY
Quality of Care Inconsistent or substandard care could disrupt operations, damage the company’s reputation, and Poor quality of care can have significant financial consequences, including direct costs such as medical
reduce patient trust and satisfaction. liability claims, regulatory fines, remediation expenses, and increased insurance premiums.
This risk could impact the Group in several ways, including: These costs reduce financial performance by increasing operating expenses and eroding net margins.
• Poor quality of care may lead to increased medical errors, longer patient recovery times, and higher Indirect effects may include lower patient volumes due to reputational damage and reduced revenue.
readmission rates, affecting hospital throughput and efficiency.
• Long term reputational damage can reduce competitiveness in attracting both patients and highly
qualified medical professionals.
Other Ecological Impacts As a real estate and property development company with a diversified portfolio including residential Ecological impacts may result in both direct and indirect financial costs.
townships, commercial spaces, hotels, and healthcare facilities, the company’s operations often Direct costs include environmental remediation, compliance with regulatory permits, habitat
intersect with sensitive ecological areas. restoration projects, and consultancy fees for environmental studies. These costs affect financial
This risk could impact the Group in several ways, including: performance by increasing project and operating expenses.
• Environmental degradation may result in regulatory restrictions on land development, delays in Indirect effects may include delayed project approvals or construction halts, which impact cash flows
project approvals, or increased costs for environmental remediation. and financial position by deferring expected inflows from sales or leasing.
• Long-term ecological impacts can also affect the attractiveness of the company’s properties to Furthermore, failure to manage ecological risks could affect the Group’s brand and tenant demand,
tenants and customers who prioritize sustainability, thereby influencing occupancy rates, lease potentially reducing revenue and asset valuations.
renewals, and overall brand perception.
Climate Related Risk and Opportunities (CRRO) Sustainability Related Risk and Opportunities (SRRO)
Heavy precipitation Cyber Security
Resource Consumpstion
(Storms) (Energy)
Floods
Labor Practices - Hiring
Greater expectations /
demand from customers /
investors for more Higher Temperatures
sustainable products &
Tenant Demand
Financial Materiality
services
Financial Materiality
Resource Consumption
Disruption of new (Water)
(low emission
technology)
Ecological Impacts
Energy Related
Increase in
Regulations
energy costs
Droughts Landslides
Fines & Penalties
Increase in cost of From Fraud
materials & equipment
Labor Practices
(Training)
Extreme waves & coastal
More stringent abrasion (rising sea levels)
carbon tax Labor Practices Health & Safety
More stringent Quality of Care
building regulations (Diversity)
Impact Materiality Impact Materiality
Physical Risk Transition Risk Enhancing Quality of Life Investing in Our People
Caring for Our Environment Championing Best Practices
Moderately Material Highly Material Critically Material
Moderately Material Highly Material Critically Material
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We have reviewed our CRROs & SRROs, and there are and ISSB guidance and supports the evaluation of the PHYSICAL RISK TRANSITION RISK6
no further updates to our assessment of their financial resilience of our business model, asset portfolio and
• Flood • Disruption of new (low
materiality and impact materiality. This is validated long-term strategy. • Landslide emission) technology
• Extreme variability in • Greater expectations and
by the results of our stakeholder focus group
weather patterns and demand from customers
discussion as well. Country-Level Analysis precipitation patterns and investors for more
• Droughts sustainable products
At the country level, we continue to assess the potential • Extreme waves & coastal and services
Climate Scenario & Analysis impact of climate-related risks across Indonesia using abrasion (rising sea levels)
• Heat stress
In 2023, we conducted our first climate scenario analysis, reputable external data sources, including:
forecasting the potential impact of identified physical • Buku Indeks Risiko Bencana Indonesia (IRBI) PHYSICAL RISK
and transition risks on our businesses, investments, • Climate Central YEAR
FLOOD LANDSLIDE
EXTREME
DROUGHT HEAT STRESS
SEA LEVEL
WEATHER RISE
and assets. The scenarios analysis exercise covers • Climate Knowledge Portal 2030
the organization’s resilience over two RCP5 scenarios • INFORM Risk Index 2100
2030
– RCP 2.6 and RCP 8.5. Our model and evaluation • WRI Aqueduct
2100
are based on climate scenario RCP 2.6 and RCP 8.5, Please refer to “Appendix - Scenario Analysis” on page
TRANSITION RISK
where global temperatures are limited to 2°C and 4°C 108 for more details on the potential impact of each GREATER EXPECTATIONS AND DEMAND
YEAR DISRUPTION OF NEW (LOW
FROM CUSTOMERS AND INVESTORS FOR MORE
by 2100 respectively. physical and transition risk in Indonesia. EMISSION) TECHNOLOGY
SUSTAINABLE PRODUCTS AND SERVICES
2030
2100
Our time horizons cover 2030, aligning with our In the RCP 2.6 scenario, which represents a best-
2030
sustainability agenda and 2100, adhering to TCFD best case scenario, global greenhouse gas emissions are 2100
practices. As part of our scenario analysis, we have also stabilized by mid-century, limiting the average global
LEGEND RCP 2.6 scenario Low
collected physical risk impacts from all business units temperature increase to around 2°C above pre-industrial RCP 8.5 scenario Medium
and examined the risks that have affected us in recent levels. Intensive climate policies would be required over High
years. The aim is to assess the financial implications of the next few years globally, including the participation
Representative Concentration Pathways (RCPs) are a set of scenarios that describe
these physical risks, identify the most common risks of underdeveloped countries with assistance of
5
possible future changes in greenhouse gas concentrations in the atmosphere.
affecting us, and develop strategies to mitigate or governmental aid or a developed, wealthy nation to These scenarios are used by climate scientists to model how the Earth's climate
might change in the future. The Intergovernmental Panel on Climate Change (IPCC)
adapt to them. achieve those climate change reduction policies. In this developed the RCPs. They are not predictions, but simulations that help scientists
understand how the climate might change depending on our emissions choices.
scenario, transition risks are prevalent and physical risks The IPCC uses four main RCPs, ranging from very low emissions (RCP 2.6) to very
high emissions (RCP 8.5). Each scenario translates into a potential range of global
There are no material changes to the Group’s overall are low as significant effort and measures are taken to
temperature increase by 2100.
climate scenario analysis methodology for this year. The mitigate climate change, strict regulation and policies 6
In the climate risk assessment conducted last year, we examined additional
transition risks, including the implications of a more stringent carbon tax,
Group continues to assess both physical and transition are required for global temperatures being limited enhanced building regulations, increasing energy costs, and increased costs for
materials and equipment. After thorough analysis, it was determined that these
risks across short-, medium-, and long-term horizons to 2°C by 2100. Risk levels continue to be transition risks are not significant for our particular sectors in Indonesia based on
existing policies and regulations in the near to mid-term. We commit to regularly
(2030 and 2100) under RCP 2.6 and RCP 8.5 climate assessed for 2030 and 2100 under both RCP 2.6
reviewing and monitoring any shifts in the landscape, updating our climate risk
pathways. Scenario analysis remains aligned with TCFD and RCP 8.5 scenarios. evaluations annually.
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In the RCP 8.5 scenario, which represents a worst-case Property-Level Analysis risks are assessed at the business unit level, by type of
scenario where greenhouse gas emissions continue to We have reviewed the impact of physical risk on a total asset/operation and geographical location. The Group
rise rapidly throughout the century, leading to a much of 99 managed properties (including hotels, offices, Sustainability and Group risk management functions
higher level of global warming. We face an average townships, and malls) under the RCP 8.5 scenario. In collaborate to liaise with the respective Risk Owners
global temperature increase of 4°C or more by the our risk assessment process, we analysed each physical who are responsible for identifying and monitoring risks
end of the century. In this scenario, physical risks are risk on a location-specific basis, and these risk scores within their businesses. All risks identified are included
prevalent and transition risks are low as RCP 8.5 assumes were then used to calculate an aggregated risk index. in our risk register, and risks are prioritized based on
a trajectory with a significant increase in greenhouse gas To further validate our projections at the property an impact & probability assessment. Subsequently, the
emissions, particularly carbon dioxide. This results in a level, we conducted a review on all physical risks that Risk Manager presents the results of risk identification,
more pronounced warming effect on the Earth's climate have impacted our business throughout the years. The assessment and treatment to their respective
and secondary effects of other physical risks such as purpose of this review was to understand the impact Senior Management. The BoD and BoC oversee the
flooding and heavy precipitation are increased. There of physical risks on business disruption, categorize the implementation of risk management and regularly
are no material changes to the country-level assessment severity of these risks and determine any associated engage with Senior Management teams to review the
methodology in 2025. financial implications. The accuracy of these calculations business strategy.
and results was verified through cross-referencing with
historical data. Our recent records indicate that we have Our approach to climate and sustainability risk
Climate Risk Impact Under Scenarios management is based on the TCFD recommendations,
frequently experienced the impact of extreme weather
patterns and floods. On the other hand, landslides and COSO ERM framework and ISO 3100 Risk management.
sea level rises have occurred less frequently, but the Climate risks are integrated in our ERM framework,
associated repair costs for damage caused by landslides which consists of comprehensive risk management
CLIMATE RISK IMPACT
and sea level rise are substantial. Considering these policies and processes, as well as risk monitoring and
findings, it is imperative that we proactively adapt to control processes. Climate and sustainability risks are
physical risks to mitigate costs and minimize the impact specifically tabled at the ESG Committee meeting for
on assets. We will continue to study the frequency and in-depth discussion, including strategies and plans to
impact of these physical risks closely going forward. mitigate these risks. Regular risk training and workshops
are also conducted for both Senior Management and
RISK MANAGEMENT [IFRS S1-44] [IFRS S2-25] Risk Managers. As we transition to ISSB reporting this
year, several trainings and workshops were held to focus
H i s to ri c a l 203 0 2100
We have a well-established process to identify, manage, on the identification and assessment of sustainability
YE A R
and monitor risks. Climate, sustainability and operational risks and opportunities.
R C P 2 .6 Tra n s i t i o n R i s k R C P 8 . 5 Tra n s i t i o n R i s k
R C P 2 .6 P hys i c a l R i s k R C P 8 . 5 P hys i c a l R i s k
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Management Response
Following this year's review of our existing climate measures, we have re-calibrated our management responses to reduce the frequency and severity of climate risks (mitigation) as well
as minimize the damage and take advantage of opportunities arising from climate change (adaptation).
RISK TYPE RISK MITIGATION & ADAPTATION RESPONSE
Physical Risks Flood Short Term
• Deployment of enhanced early warning and monitoring systems to improve preparedness and response time.
• Continuous review and updating of flood management Standard Operating Procedures (SOPs).
• Strengthening partnerships with government agencies and local communities to improve coordination and communication during flooding events.
• Proactive operation of storm water flooding dewatering pumps to manage water accumulation effectively.
• Increased inspection and maintenance of drainage systems, canals and water pathways to ensure optimal flow capacity.
Long Term
• Installation of structural protection measures, including flood barriers, dams and engineered flood mitigation infrastructure.
• Adoption of risk-informed land planning and resilient design principles, including elevated structures, nature-based solutions, and sustainable building
practices to enhance long-term flood resilience.
Droughts Short Term
• Implementation of comprehensive water efficiency and conservation initiatives to reduce overall water consumption.
• Expansion of wastewater recycling and rainwater harvesting systems across operational assets.
Long Term
• Development of water reserve infrastructure and rainwater storage systems to enhance water security and operational continuity during prolonged dry
periods.
Extreme variability in weather Short Term
patterns and precipitation • Strengthening of early warning and weather monitoring systems.
patterns • Regular review and enhancement of storm management SOPs.
• Increased frequency of building inspections and preventive maintenance, particularly for facades and external structures.
Long Term
• Integration of climate forecasting into strategic planning, including incorporating anticipated financial impacts of extreme weather events into project
evaluation and investment decision-making.
Landslide Short Term
• Implementation of early warning systems and hazard detection mechanisms.
• Identification of high-risk properties and development of comprehensive evacuation plans.
• Collaboration with local authorities and communities to enhance landslide preparedness.
• Engagement of external geotechnical experts to assess and reinforce landslide-prone areas prior to development
Long Term
• Avoidance of development in identified high-risk landslide zones wherever feasible.
• Installation of monitoring equipment and ground movement detection systems in vulnerable areas to enable early intervention
Mitigation = Tackling the causes and minimizing the possible impacts of climate change
Adaptation = Reducing negative effects and taking advantage of opportunities that arise
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RISK TYPE RISK MITIGATION & ADAPTATION RESPONSE
Physical Risks Extreme waves & coastal Short Term
abrasion (rising sea levels) • Deployment of adaptable shoreline protection measures, including engineered coastal structures such as jetties, breakwaters, groins and seawalls.
• Ongoing monitoring and evaluation of coastal erosion trends and associated financial impacts.
Long Term
• Comprehensive long-term evaluation of development exposure to projected sea level rise by 2100, including reconsideration of development in
high-risk coastal areas.
Heat stress Short Term
• Regular inspection and optimization of cooling systems and building ventilation infrastructure.
• Implementation of formal heat stress management policies outlining structured work-rest cycles, hydration protocols, and adjusted working schedules
to protect employee health and safety.
Long Term
• Deployment of technology-assisted monitoring tools for heat stress detection and management.
• Integration of climate-adaptive urban design principles, including increased tree cover, natural ventilation corridors, shaded walkways and climate-
responsive township planning.
Transition Risks Disruption of new Short Term
(low emission) technology • Systematic review of existing energy-intensive equipment to identify replacement priorities.
• Continuous monitoring of technological advancements to enable timely adoption of cost-effective low-emission solutions.
• Diversification of the energy mix to reduce reliance on high-emission systems and mitigate technology concentration risk.
Long Term
• Strategic increase in capital allocation toward low-emission and energy-efficient technologies.
• Development of procurement guidelines that prioritize and whitelist energy-efficient and sustainable equipment.
Greater expectations Short-Term
and demand from • Proactive engagement with customers and investors to assess evolving expectations and sustainability preferences.
customers and investors • Conducting gap assessments of housing products and asset portfolios against recognized green building certification standards.
for more sustainable
Long Term
products and services
• Embedding green building principles into planning, architectural design and construction standards.
• Conducting lifecycle assessments to systematically identify, reduce and manage environmental impacts across products and services.
Sustainability Risks Resource consumption Short Term
(energy) • Targeted awareness initiatives to encourage energy-saving behaviors among employees and customers, including
» Unplugging electronics and appliances when not in use.
» Adjust thermostat settings to energy-saving temperatures (26°C)
Long Term
• Investment in energy-efficient appliances and retrofitting buildings with low-emission technologies.
• Development and implementation of a Group-wide decarbonization strategy aligned with long-term climate objectives.
Cybersecurity Short Term
• Strengthening cybersecurity awareness through education on phishing detection, malware risks, data protection practices and physical device security.
Long Term
• Implementation of a Zero Trust Architecture, ensuring continuous authentication and authorization for users, devices and applications.
• Establishment of dedicated vulnerability management capabilities to proactively identify, assess and remediate system weaknesses
across the organization.
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REAL ESTATE LIFESTYLE LIFESTYLE
Managing Climate-Driven Climate Resilience and Flood Risk Climate Resilience and Operational
Construction Disruptions Mitigation at Sun Plaza Medan Continuity in Extreme Weather
LippoLand experienced disruptions to construction In late November 2025, prolonged periods of heavy rainfall In response to the worsening weather in Manado,
progress due to an extended rainy season, which led to led to flooding at Sun Plaza Medan, disrupting operations including storms and heavy rains, Aryaduta Manado
intermittent work stoppages on outdoor activities and for three days and damaging the basement-installed strengthened its climate resilience measures to protect
posed challenges in maintaining schedules across various chiller and electrical systems. Rainwater seepage into the critical infrastructure and ensure continuous operations.
project sites. Prolonged rainfall affected site access, soil basement required emergency drainage and structural
conditions, and the curing of construction materials, often repairs, including sealing entry points and installing Following storm damage to the chiller, a protective
requiring pauses in critical path tasks and increasing bulkheads. This incident highlighted the growing physical barrier was installed to prevent future weather-related
coordination complexities. In the broader construction risks from climate change for assets located in low-lying, exposure. Flood risk was further reduced through regular
industry, weather-related impacts such as persistent rain high-rainfall regions. maintenance and capacity assurance of sump pump
are widely acknowledged to delay timelines and elevate systems. To address recurring power outages, Aryaduta
cost exposures when not adequately accounted for in In response, Lippo Malls allocated approximately IDR 32 Manado ensured energy continuity by maintaining two
planning and scheduling. billion for rectification work and resilience improvements generators in simultaneous operation, with a combined
at Sun Plaza Medan. Following this incident, the Group capacity of 2,000 kVA capable of providing up to 24 hours
As part of our climate risk management strategy, the initiated baseline flood-risk mapping across malls located of backup power.
Company incorporates weather-sensitive scheduling below sea level or in high-flood-risk zones to guide future
buffers, improved site drainage measures, and mitigation strategies. For future developments, critical
contingency plans into project planning to mitigate future mechanical and electrical equipment will be relocated
disruptions and reduce the risk of penalties associated to rooftop levels, requiring robust structural designs and
with delayed delivery. These proactive measures reflect increased initial construction costs to mitigate long-term
the Group’s broader approach to managing climate- risks associated with climate disruption.
related physical risks and maintaining reliable project
delivery for stakeholders.
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix METRICS & TARGETS [IFRS S1-46,51] [IFRS S2-29,33,34,35,36] Under our Sustainability Agenda 2030, we have institutionalized measurable ESG targets that serve as the primary engine for ambition and accountability across climate action, social impact, and corporate governance. This alignment ensures that LPKR views every strategic decision through a lens of long-term resilience, directly supporting Indonesia’s Enhanced Nationally Determined Contributions and the national 2060 Net Zero roadmap. All targets are vetted by the ESG Committee and formally ratified by both the Board of Directors and Board of Commissioners, ensuring that our sustainability performance is under the oversight of our top leadership bodies. As we look toward the next horizon of our sustainability journey, we have raised the ambition of several targets which we have already achieved and also set new targets in support of Indonesia’s transition to a more sustainable, low-carbon economy. For instance, we have raised our goals for water consumption from sustainable sources to 30% per year and increased our treated water target to 1,000,000 cubic meters per year. We also aim to expand our renewable energy footprint by installing 5,000 kWp of solar photovoltaic capacity across our developments and achieve green building certifications for 600,000 square meters of our asset portfolio. For our 2025 ESG performance against our 2030 targets, please refer to page 20. For the full breakdown of our ESG performance, including historical comparisons, please refer to “Appendix – Environmental Data” and “Appendix – Workforce Data” on pages 102 to 107. 43 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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ENHANCING Economic Contribution
QUALITY OF LIFE
Community Support & Engagement
Product Innovation
Customer Service & Satisfaction
At Lippo Karawaci, we are in the business of creating urban ecosystems for quality living. We are
committed to driving sustainable economic growth and job creation through our business operations,
as well as improving the local businesses and communities we partner with. We constantly innovate to
improve our offerings and strive to build trust through customer service and satisfaction.
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Economic Contribution
ECONOMIC PERFORMANCE & VALUE CREATION [OJK C.3, F.2, F.3] [GRI 201]
FINANCIAL HIGHLIGHTS
2023 2024 2025
(Rp Billion)
As Indonesia’s largest real estate and healthcare operator by geographic footprint,
Revenue 16,990.09 11,505.17 9,033.32
we are privileged to be able to serve over 200 million people in 26 provinces and 56
Net Profit/Loss 50.14 18,727.13 572.55
cities. Through our business operations, we create direct economic value and jobs
Operating Costs 3,026.90 3,182.81 2,272.11
for the Indonesian economy, while generating indirect socioeconomic impact that
benefits various stakeholders within our ecosystem. Employee wages and benefit 1,511.98 1,107.56 843.64
liabilities
Post-employment benefits 325.99 166.28 195.48
Direct Economic Contribution
Payments to providers of capital 1,929.59 1,063.56 362.78
In 2025, our Company achieved financial growth across all business segments
Payments to government 849.90 752.63 314.22
by generating a total of Rp 9.03 trillion revenue, reflecting lower figures due to
Share buybacks + dividend 125.59 22.27 25.28
the deconsolidation of its subsidiary, Siloam Hospitals and challenging economic payments
environments around the region. In the Real Estate segment, we witnessed a notable Assets 49,570.82 53,783.26 49,247.22
increase in marketing sales compared to previous years, reaching Rp 5.32 trillion, driven Liabilities 29,964.39 22,836.79 18,196.21
by continued robust demand for affordable housing from previous launches such as Equity 19,606.43 30,947.07 31,051.02
the Cendana and XYZ Series. Similarly, our Healthcare segment showed sustained
Direct economic value generated = revenue
growth, reflected in higher EBITDA and achieving a 7% YoY increase in both inpatient Economic value distributed = net profit/loss, operating costs, employee wages and benefits, payments
to providers of capital, payments to government by country, and community investments
admissions and outpatient visits. Our Lifestyle segment also maintained positive Economic value retained = ‘direct economic value generated’ less ‘economic value distributed’
momentum within the mall and hotel businesses, with mall occupancy rising to 86.5%.
BUSINESS CUSTOMERS
BUSINESS UNIT SUB-CATEGORIES
These results were driven by the timely handover of our housing projects, sustained SEGMENTS SERVED
business growth in healthcare, and enhanced operational performance. At the holding Real Estate Residents in Lippo 69,447
PT Lippo Karawaci Tbk
Village Township
company level, we reaped significant savings by reducing interest expenses by 61%
Residents in Integrated 22,501
to Rp 326 billion, due to balance sheet restructuring efforts and the elimination of all Developments
USD-denominated debt. Residents in PT Lippo 77,943
PT Lippo Cikarang
Cikarang Township
Gowa Makassar Residents in Tanjung 26,430
For a detailed breakdown of our financial performance, please refer to the following Tourism Development Bunga Township
sections of our 2025 Annual Report – “Financial Highlights”, “Management Report”, Lifestyle Lippo Malls Visitors 194 million
“Management Discussion and Analysis”, and “Consolidated Financial Statements”. Aryaduta Guests 868,168
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Indirect Economic Contribution our annual target by ensuring 94% of home sales were LippoLand stimulates local economic resilience by
The impact generated by our economic activities priced under Rp 2 billion. This result reinforces our integrating surrounding communities into its operational
extends beyond just financial. We believe that it is our consistent track record of maintaining at least 90% of supply chain and township ecosystems. Under the Real
duty to deliver positive socioeconomic impact to our sales within this affordable price bracket. Estate segment, the Group collaborates with vendors
customers, as well as our business partners and the local and outsourcing firms to actively recruit local residents
communities in the regions where we operate. In our Healthcare segment, we are committed to from within the townships with the required technical
delivering healthcare services in regions across Indonesia competencies to support Township Management
AFFORDABILITY AND ACCESSIBILITY and focusing on areas where quality healthcare may face Division (TMD) operations, especially for housekeeping,
Housing and healthcare are two of the most accessibility challenges. Our commitment extends to security, and engineering positions. At SDH, the division
fundamental human needs, but there remains establishing a healthcare network that covers over 60% provides essential livelihood opportunities by employing
a great unmet need for affordable housing and quality of the country's provinces. Affordability and accessibility local community members for critical infrastructure and
healthcare throughout Indonesia. This is why we remain a priority, with more than 40% of our hospital groundskeeping roles, including excavation, general
prioritize affordability and accessibility in our real estate portfolio situated outside of Java. Notably, Siloam has maintenance, and landscaping.
and healthcare offerings. played an active role in providing healthcare services to
the rural and remote areas of Eastern Indonesia, including LOCAL PROCUREMENT
Since 2020, we have made the strategic decision to in Papua. We also serve the Indonesian public through
focus on developing housing products which cater to Badan Penyelenggara Jaminan Sosial (BPJS) Kesehatan, We recognize our significant role in influencing the
the needs of first-home owners, especially millennials. the Indonesian government’s health insurance scheme. sustainability landscape in Indonesia. This stems from
This includes pricing our housing products affordably, at Siloam has been expanding its network of BPJS-licensed our close collaborations with a diverse range of suppliers,
a price point of under Rp 2 billion. In 2025, we achieved hospitals to make its services available to more patients vendors, contractors, and service providers daily. The
who are unable to fully pay out of pocket or are not supply chain for the real estate, healthcare, and lifestyle
Residential Sales
covered by private insurance. industries encompasses the processes and activities
100% 0.10% 0.50% 0.66%
involved in sourcing, producing, and delivering goods
98% 4.00%
INDIRECT JOB CREATION and services within these sectors. We are committed
4.00%
5.10%
96%
to ethical sourcing, applying responsible procurement
94%
Our economic contribution also extends to the jobs practices and supporting local suppliers in all aspects of
created through our larger ecosystem of business our operations.
92%
96.00% 95.50% partners, including contractors, suppliers, vendors, and
90% 94.24%
tenants. In the course of our business operations, we Through local sourcing, we can make a direct contribution
88%
strive to contribute to the local economy by working to the national economy and job market. It also enables
0% with people and partners based in our areas of operation us to reduce the generation of Scope 3 emissions in the
2023 2024 2025 as far as possible. transportation of supplies. Across the Group, over 99% of
≤ Rp 2 Billion Rp 2 Billion - 5 Billion > 5 Billion
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our suppliers are Indonesian, with most of our procurement expenditure directed towards Furthermore, our strict Supplier Code of Conduct ensures that these global
them. This localized approach ensures that township operations serve as a catalyst for resource pressures do not compromise labor rights or material quality, ensuring our
growth for MSMEs within the immediate vicinity of our developments. We prioritize local Group’s lifestyle destinations remain stable, low-carbon environments for the
suppliers and sources internationally only when products are unavailable or do not meet communities we serve.
quality standards, such as specific chemicals and technology infrastructure.
By transforming our supply chain from a traditional logistical function into a resilient,
SUPPLY CHAIN SUSTAINABILITY IFRS S2-aligned value chain, LPKR effectively mitigates global volatility and climate
risk while accelerating our progress toward a low-carbon, community-centric future.
In today’s era of heightening geopolitical tensions and trade volatility, we view supply
chain disruptions as material financial risks and appreciate the need for Business
REAL ESTATE
Continuity Planning (BCP) as a critical component of sustainability risk management
under the IFRS S2 framework.
Supporting Vendor Resilience
In our Real Estate segment, geopolitical shifts have fundamentally altered the risk Through Micro-Financing Access
profile of construction supply chains. To defend against these disruptions, we proactively
map our Tier-1 suppliers to identify vulnerabilities in the production of energy-intensive To strengthen vendor capacity and promote the sustainability of small
materials like steel and cement. By prioritizing local sourcing, we simultaneously reduce businesses, LippoLand partnered with Nobu Bank — a financial institution
Scope 3 upstream transportation emissions and mitigate the risk of project delays and affiliated with Lippo Group that participates in the government’s Kredit Usaha
cost overruns caused by international bottlenecks. This strategy ensures our development Rakyat (KUR) program — to facilitate access to microfinance for its vendor network.
timelines remain uninterrupted, even during periods of global resource scarcity. Under this initiative, eligible vendors could obtain KUR financing on favorable
terms designed to enhance working capital, support business continuity, and
For our Lifestyle portfolio, including retail malls, supply chain resilience is essential for bolster supply chain resilience. In 2025, over 500 vendors have secured KUR funding
maintaining a seamless tenant and visitor experience. Recognizing that global tensions through this collaboration, reflecting LippoLand’s proactive role in facilitating
and climate-induced scarcity pose material risks to inventory stability, our procurement inclusive access to formal financial services for suppliers and small enterprises.
strategy focuses on building alternative local partnerships for facility management and By supporting vendors’ financial access within the national microfinance
operational consumables. By moving away from a reliance on global delivery toward a ecosystem, this initiative contributes to broader economic participation and the
robust, localized network, we insulate our assets from price volatility and logistical shocks. development of local enterprises, aligning with the Group’s commitment to
sustainable value chain engagement.
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Community Support & Engagement [OJK F.1, F.23-25]
We strive to create a culture of volunteering, aiming to create a positive and significant social impact in the
regions where we are active. For us, community support goes beyond mere philanthropy; it serves to cultivate and
strengthen relationships with our stakeholders. This year, we have actively promoted employee volunteering in
support of meaningful causes and encourage the exploration of innovative ways to engage with our communities
across various touchpoints. All of our initiatives under PASTI support Indonesia’s sustainability agenda and the
UN SDGs, as well as the needs of the local communities we serve. In 2025, we conducted 1,758 community
engagement programs and activities across our business operations under PASTI programs. In total, we spent
over Rp 42 Billion to fund these activities.
Lippo untuk Indonesia PASTI (Pintar, Asri, Sejahtera, Tangguh, Independen)
embodies the firm and bold spirit that drives our holistic advancement of Indonesia’s
sustainability agenda. We are committed to enhancing our quality of life for all
stakeholders in our ecosystem, to secure a brighter outlook for future generations.
Education Environment Social Health Economic
PINTAR ASRI SEJAHTERA TANGGUH INDEPENDEN
Scholarships Nature Conservation Philanthropy Community MSME
Health Services Empowerment
Vocational Training & Waste and Water Community Welfare
Skills Development Management & Engagement Health Awareness Local Economic
Development
Educational Environmental Humanitarian Aid Vaccination
Support Awareness & Blood Drives Entrepreneurship
Provide access to Reduce ecological Support philantrophic Improve community Empower MSMEs
quality education footprint and raise causes and community health and well-being and local economies
environmental awareness events
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HIGHLIGHTS
1,758 287,558 Rp
42B+ 50 cities
Activities under PASTI Beneficiaries supported by PASTI Total CSR Spending PASTI Activity Footprint
Environment Economic Education
50
Environmental Campaigns
1,076
MSMEs
315
Training & Educational Programs
8,800+ 49 46,000+
Participants in tree planting, Events supporting MSMEs Beneficiaries in vocational
beach clean-ups, and and local economic empowerment training, school engagements,
environmental awareness events and community activation
Social Health
79,000+
Beneficiaries
9,878
Blood Bags Collected
297 54
Activities including philanthropic, Blood donation drives in 35 cities
community welfare, and across townships, malls, hospitals,
humanitarian aid and hotels
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PINTAR ASRI SEJAHTERA TANGGUH INDEPENDEN
Education Environment Social Health Economic
SILOAM HOSPITALS ARYADUTA LIPPO KARAWACI SILOAM HOSPITALS LIPPO MALLS
Advancing Global Collaboration Strengthening Coastal Revitalizing Local Communities Expanding SELANGKAH to Empowering Local Businesses
and Innovation in Cancer Care Resilience Through Nationwide Through the Renovation of Advance Preventive Breast Through “Ramadan Berkah” in
Marine Conservation 1,500 Village Houses Cancer Screening 13 Malls
Siloam Hospitals, through MRCCC, hosted In 2025, Aryaduta Hotels implemented Lippo Karawaci initiated a large-scale In 2025, Siloam Hospitals Group expanded In 2025, Lippo Malls implemented the
the 5th Siloam Oncology Summit (SOS) coordinated marine conservation initiatives community revitalization program to its SELANGKAH (SEmangat LAwan KAnker) “Ramadan Berkah” program across 13
2025, bringing together 100 international across several destinations, reinforcing renovate 1,500 uninhabitable village homes, program, strengthening its commitment malls nationwide, providing a platform for
and national speakers and more than its commitment to environmental beginning in Malang’s Topeng Tourism to preventive healthcare and early cancer local micro, small, and medium enterprises
700 oncology professionals from across stewardship and biodiversity protection. Village, in support of the Indonesian detection across Indonesia. During the (MSMEs) to showcase and expand their
Indonesia and abroad. Held under the The program focused on ecosystem government’s “3 Million Houses Program”. year, the initiative provided free breast businesses during the Ramadan season.
theme “United by Unique,” the Summit restoration and community engagement The initiative aims to improve housing cancer screening to 23,884 women across The initiative engaged hundreds of MSMEs,
served as a leading scientific forum to to help safeguard Indonesia’s coastal conditions for low-income families while 39 participating hospitals, improving with participation reaching up to 100
advance collaboration in cancer research, environments. strengthening the long-term sustainability access to essential diagnostic services for local businesses per activation, enabling
diagnosis, and treatment. of local communities. diverse and underserved communities. entrepreneurs to access high-traffic retail
Key initiatives included the planting of environments and broader consumer
Through multidisciplinary symposia, 1,000 mangrove seedlings in Pulau Pari by Through structural repairs, sanitation Since its launch in 2023, SELANGKAH markets.
expert-led discussions, workshops, and Aryaduta Menteng to support shoreline improvements, and upgraded living has reached more than 52,000 women
scientific poster sessions, the Summit protection and restore critical marine facilities, the program enhances safety, nationwide, surpassing its cumulative Beyond short-term promotional
facilitated knowledge exchange on habitats. In Bali, Aryaduta partnered with health standards, and overall quality of life target and demonstrating the program’s opportunities, the program is evolving
emerging innovations in precision the Wana Segara Kertih conservation for residents. Beyond improving housing growing impact in promoting early toward a structured incubation model
oncology, early cancer detection, and community to plant 118 mangrove quality, the initiative also supports the detection and public awareness of that supports MSMEs in building brand
personalized treatment approaches. trees, contributing to long-term coastal development of tourism-based villages by breast cancer risks. Screening services visibility, product competitiveness,
The event also strengthened cross- resilience and habitat preservation. creating more livable environments that were delivered through both hospital- and sustainable business networks. By
border partnerships between clinicians, Meanwhile, Aryaduta Manado collaborated can attract visitors and stimulate local based facilities and community outreach integrating local entrepreneurs into the
researchers, and healthcare institutions, with the local BKSDA (Natural Resources economic activity. programs, enabling broader participation mall ecosystem, Lippo Malls reinforces its
supporting the continuous advancement Conservation Agency) to conduct a turtle and accessibility. role as an inclusive commercial platform
of oncology practice in Indonesia. conservation activity, releasing 50 turtle By investing in community infrastructure that supports
hatchlings into the sea. and inclusive development, we strive to Through SELANGKAH, Siloam continues
By fostering global collaboration and empower underserved communities while to advance health equity by promoting Through “Ramadan Berkah,” Lippo Malls
accelerating the transfer of cutting-edge Through these initiatives, Aryaduta contributing to national housing priorities. preventive care, strengthening community continues to contribute to local economic
medical knowledge, SOS 2025 reinforces not only contributes to protecting The initiative directly supports the awareness, and encouraging timely resilience, empowering small businesses
Siloam’s commitment to advancing marine ecosystems but also raises government’s 3 Million Houses programme diagnosis. The initiative reflects the Group’s while fostering a vibrant and diverse
cancer care and strengthening Indonesia’s environmental awareness and encourages and our commitment to affordable, long-term commitment to improving retail ecosystem across its nationwide
oncology ecosystem. community participation in coastal inclusive community development. public health outcomes and expanding mall portfolio.
conservation efforts. equitable access to quality healthcare
services across Indonesia.
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Product Innovation [OJK F.26]
In today’s dynamic business environment, innovation is key to delivering quality products and services that can meet our customers’ evolving needs and enhance our market position
in the long run. Our product innovation strategy includes research and development to analyse and capitalize on the latest market trends, deepening our areas of specialty, as well as
leveraging digital channels and new partnerships to enhance our offerings. Our R&D efforts help us to identify emerging needs so that we are well-positioned to provide the most relevant
offerings. At the same time, we are also constantly innovating to improve customer service and satisfaction – these initiatives are separately outlined on page 56.
REAL ESTATE HEALTHCARE LIFESTYLE
Our real estate development business continues to Our Healthcare segment continues to strengthen Significant physical revitalizations are also underway:
evolve by creating modern living spaces that fulfil the its medical capabilities through the adoption of Plaza Semanggi is being transformed into the Lippo
aspirations of the next generation of urban dwellers. advanced technologies, specialized services, and Mall Nusantara—a modern retail and cultural hub—
We continue to diversify our real estate development strategic collaborations. This includes the introduction while Palembang Square, Cibubur Junction, and Lippo
portfolio by offering new housing products at various of robotic-assisted surgery to enhance precision and Plaza Ekalokasari Bogor are undergoing renovations
price points. This product development pipeline is support minimally invasive procedures. The Group has to improve accessibility. Environmental excellence
informed by extensive ethnographic research and also advanced its oncology capabilities through the was headlined by Palembang Icon, which achieved
market studies into the Indonesian millennial and deployment of heated intraperitoneal chemotherapy EDGE Green Building Certification with over 20%
"Zillennial" profiles, ensuring our designs reflect their and adaptive radiotherapy technologies, further energy savings.
unique preferences and life aspirations. strengthening cancer treatment services. In addition,
we have established dedicated centers focusing on Aryaduta has similarly elevated the hospitality experience
This commitment to excellence was recognized at the sports medicine and performance as well as urinary through facility modernization and sustainable product
2025 Golden Property Awards, where Park Serpong— stone treatment to expand specialized patient care. innovation. The reopening of signature amenities, such
our 400-hectare innovative township—garnered the To further support research and innovation, we have as RJ’s at Aryaduta Bandung and the ARYA Club Lounge
prestigious "Project of the Year" and the "Best of the also partnered with an international clinical research in Medan, has been paired with culinary advancements
Best Zillennial Housing" awards. These accolades organization to conduct research and clinical studies like the "Farm to Table" hydroponic initiative, supported
validate our success in creating accessible, vibrant living aligned with global standards. by an R&D investment of IDR 3.86 billion. Aryaduta has
environments that prioritize community building over also modernized operations by transitioning to energy-
traditional unit-based design. Furthermore, our focus efficient electric culinary equipment and replacing
on the younger demographic was honored with a physical guest room compendiums with QR-code-
dedicated Zillennial Housing Award for LPKR, reinforcing based E-concierges.
our leadership in this high-growth sector.
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REAL ESTATE REAL ESTATE
Expanding Residential and Lifestyle Offerings Enhancing Homeownership Experience
through Maureno Interior Solutions
LippoLand expanded its portfolio with the launch of premium residential clusters,
Blackslate Homes in Lippo Cikarang and The Belmont Homes in Lippo Village. LippoLand Maureno introduced affordable furniture packages designed to
These developments feature modern two-story designs, functional layouts, provide practical and customizable interior solutions for homeowners. Developed
landscaped environments, and integrated access to retail, healthcare, education, in collaboration with leading local brands, the program offers curated furnishing
and lifestyle facilities, supporting high-quality community living. LippoLand options that simplify the home setup process while maintaining quality and
also introduced The Patio clubhouse in Lippo Cikarang Cosmopolis, providing design standards. This initiative enables buyers to move into ready-to-live
recreational amenities that promote resident well-being and social interaction. homes without the additional complexity of sourcing and coordinating interior
elements independently.
Complementing its premium segment, LippoLand continued advancing Hunian
Warisan Bangsa (HWB) Purwakarta, an affordable housing initiative offering By integrating accessible interior solutions into its residential offerings, LippoLand
quality homes with essential community infrastructure for working families. enhances customer convenience and value while supporting local industry
As of 2025, 1,000 units have been completed, with a target of accommodating partners. The program reflects our commitment to delivering holistic housing
30,000 units by the final development phase, contributing to improved housing solutions that improve livability, affordability, and overall homeowner satisfaction
accessibility and inclusive community development in line with the Group’s across our developments.
sustainability objectives.
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H E A LT H C A R E H E A LT H C A R E H E A LT H C A R E
Advancing Clinical Excellence Advancing Precision Oncology with Strengthening Specialized
Through Robotic Surgery Services Integrated CT-LINAC Healthcare Services in Sports
Medicine and Urinary Stone Center
Siloam Hospitals seeks to expand its clinical capabilities MRCCC Siloam Hospitals Semanggi introduced a cutting-
through robot-assisted surgeries, often being the first edge Integrated CT-LINAC system—the first of its kind in Siloam Hospitals expanded its specialized services
adopter in Indonesia of these leading technologies. These Southeast Asia—substantially elevating the standard of with the establishment of the Siloam Sports Medicine
include the Da Vinci Xi system for complex urological precision radiotherapy for cancer patients. This advanced and Performance Center and the Urinary Stone
and digestive surgeries at Siloam Hospitals Kebon Jeruk technology integrates diagnostic CT imaging with a Center. The Sports Medicine and Performance Center
(SHKJ), and advanced Orthopaedic robotic systems (ROSA linear accelerator (LINAC), enabling CT-based adaptive provides integrated orthopedic care, injury prevention,
and VELYS) at SHKJ, Siloam Hospitals Mampang (SHMA), radiotherapy (ART), which dynamically adjusts treatment rehabilitation, and performance optimization programs,
and Siloam Hospitals Surabaya (SHSB). Furthermore, plans in real time to accommodate patient-specific supported by a multidisciplinary team and advanced
our Neuroscience capabilities have been elevated anatomical changes during therapy. This innovation medical technology.
with the launch of the Brainlab Cirq Robotic Suite at enhances treatment accuracy while reducing radiation
Siloam Hospitals Lippo Village (SHLV). This advanced exposure to healthy tissues. Meanwhile, the Urinary Stone Center enhances urological
surgical technology enables greater precision, minimally care with advanced diagnostic and minimally invasive
invasive procedures, and better recovery outcomes for This system was developed through a strategic treatment options, including shock wave lithotripsy
patients requiring complex treatments. By investing collaboration with United Imaging Healthcare. The and laser-based procedures. These initiatives reinforce
in cutting-edge medical services, Siloam Hospitals Integrated CT-LINAC consolidates the entire treatment Siloam Hospital’s commitment to clinical excellence,
strengthens the Group’s healthcare offerings, improves workflow within a single device and treatment room, innovation, and improved patient outcomes across
patient safety and outcomes, and reinforces the Group’s reducing session times and eliminating the need for its healthcare network.
position as a provider of high-quality, forward-looking patient repositioning. Clinical experts emphasize that
healthcare solutions. this integration fosters more personalized, efficient,
and safer treatment protocols, exemplifying MRCCC
Siloam Semanggi’s commitment to elevating national
cancer care standards and expanding access to high-
precision therapies for patients across Indonesia
and the broader region.
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H E A LT H C A R E LIFESTYLE
Strengthening Clinical Research Capacity Lippo Mall Nusantara Reopens with
Through Global Partnership Modern Concept in 2025
Siloam Hospitals entered into a strategic alliance with Syneos Health, a Lippo Mall Nusantara officially reopened following a comprehensive
leading international clinical research organization, to conduct research and transformation of the former Plaza Semanggi, introducing an upgraded retail
clinical studies that meet international standards. Under a Memorandum of and lifestyle experience in the heart of Jakarta. The redesigned mall features
Understanding signed by both parties, Siloam Hospitals joined the Syneos Health modern interiors and exteriors, inspired by Indonesia’s cultural heritage—Water,
Catalyst Network and will serve as a pivotal research partner, facilitating clinical Land, and Sky—manifested through architectural design, landscaped open
trials and studies across its extensive network of hospitals throughout Indonesia. spaces, and enhanced amenities such as the rooftop Sky Dining with panoramic
city views. This development underscores a renewed emphasis on community
This collaboration leverages Syneos Health’s global expertise in clinical engagement and visitor comfort.
development and Siloam Hospital’s broad patient population and healthcare
infrastructure, enabling the assessment and implementation of innovative The revamped retail destination also offers an expanded array of food and
therapies and treatment protocols. The partnership not only expands clinical beverage options, such as the Livin’ Alun Alun Nusantara food court with over 200
research capacity in Indonesia but also improves patient access to advanced local culinary options, support for UMKM tenants, and a lively public amphitheater
treatment options, reinforcing Siloam Hospital’s commitment to medical equipped with a large LED screen for events and entertainment. Located
innovation, evidence-based practices, and improved healthcare outcomes. strategically near major transit points, Lippo Mall Nusantara integrates shopping,
cultural, and lifestyle elements to strengthen its status as a vibrant urban hub for
residents, visitors, and the surrounding community.
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Driving AI Literacy & Adoption
In 2025, we accelerated our digital transformation by expanding the adoption of artificial intelligence (AI) across our business operations. As AI technologies continue to advance, the
key focus has shifted from access to technology toward enabling teams across business units to effectively apply AI to improve operational performance. The Group addressed this
through two strategic priorities: strengthening AI literacy across the organization and deploying AI-driven solutions that deliver measurable improvements in productivity, accuracy,
and service delivery. Through training programs and practical transformation initiatives, employees are equipped to identify opportunities, implement AI tools, and integrate them into
daily workflows. This decentralized approach allows business units to develop solutions tailored to their operational needs while fostering a culture of continuous innovation and digital
capability across the Group.
REAL ESTATE LIFESTYLE
AI-Assisted Document Verif ication and AI-Driven Automation for
Digital Approval System Retail Operations
LippoLand implemented a Document Approval Portal to replace paper-based approval Lippo Malls implemented large-scale automation across its retail portfolio, integrating AI into
workflows and enhance process integrity. The system features QR-based document key financial and operational workflows across its mall network. Processes that were previously
verification, allowing printed documents to be scanned and validated against official digital conducted manually, such as monthly profit and loss reporting, cash flow consolidation,
records, making them tamper-evident. In addition, OCR technology supported by AI-based bank reconciliation, and parking transaction matching, are now automated end-to-end. AI-
computer vision models is used to pre-verify payment documents before human review, powered automation tools replicate complex manual processes across multiple systems,
significantly reducing manual workload and improving processing efficiency. allowing finance teams to focus on analysis rather than data preparation.
LIFESTYLE H E A LT H C A R E
AI-Powered Guest Engagement and AI-Enabled Monitoring and
Knowledge Management Clinical Supply Optimization
Aryaduta Hotels enhanced its guest engagement capabilities through the development of Siloam Hospitals implemented AI-driven platforms to strengthen operational oversight and
a self-service knowledge base supporting its AI-powered guest chatbot. Previously, chatbot clinical supply management. An AI-powered audit and monitoring system was introduced
updates required engineering support, creating operational bottlenecks. The new system to detect pricing discrepancies across hospital units, enabling the audit function to shift
enables hotel teams to directly manage and update content, allowing faster responses and from manual sampling to proactive, full-coverage monitoring of transactions. In addition, AI-
more responsive guest communication. Integrated within the omnichannel CRM platform, based inventory forecasting models were deployed to improve demand planning for medical
the AI assistant also standardizes information on hotel products and services while enabling supplies. By linking demand patterns with operational indicators such as specialist schedules
easy configuration of automated responses, strengthening the overall guest experience. and clinical activities, Siloam Hospitals improved forecasting accuracy and reduced risks
related to overstocking or stockouts.
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Customer Service & Satisfaction [OJK F.17]
We are committed to consistently delivering high-quality products and services to our customers. In 2025, our focus centered on advancing our digital platforms and engagement
channels to ensure that our customers receive timely, targeted, and useful information. This dedication to service excellence is supported by robust feedback mechanisms and a group-
wide drive for operational transparency.
CUSTOMER ENGAGEMENT & WELL-BEING Our lifestyle sector has pioneered data-driven services to satisfaction, we are transitioning to the ReviewPro
effectively meet the evolving demands of our customer analytics platform in 2026 to further refine our service
LippoLand continues to refine the homeowner journey base by expanding feedback touchpoints across all standards. Our commitment to quality was externally
by bridging the gap between physical living spaces and properties. In 2025, Lippo Malls leveraged deep business validated in 2025 through prestigious accolades
digital convenience. We strive to enhance customer intelligence to optimize the visitor experience, including including the TripAdvisor Travelers' Choice Award for
happiness by redesigning buildings, innovating new implementing a 30-minute free parking policy to multiple units and the Agoda Customer Review Award.
applications, and ensuring seamless handovers. This enhance customer convenience and overall satisfaction.
is achieved through an expanded suite of IT initiatives Digital transformation reached a milestone with the CUSTOMER & PRODUCT HEALTH & SAFETY
such as a customer portal with OTP verification for migration of the STYLES loyalty app to the Zu platform, [OJK F.27, F.28, F.29, F.30]
secure billing and document access. The LEAP mobile while the launch of Styles AsikFest (ASIKFEST) integrated
portal now empowers residents to manage billing and interactive "gacha" and points systems to enhance We are committed to providing our customers with
renovation permits while the LIA Chatbot automates engagement. Lippo Malls utilizes a sophisticated multi- accurate information regarding product quality and
interactions for immediate support. To strengthen channel feedback system encompassing the Styles App, safety, as these build customer trust and loyalty. Each
core processes, we established a Customer Focus Unit Lippo Malls Care via WhatsApp and email, and physical business unit is responsible for monitoring product
to conduct thorough pre-handover evaluations. The service desks. This infrastructure allowed the division quality and safety against a set of performance indicators
property transfer process has been further streamlined to maintain a high standard of responsiveness in 2025, to ensure compliance with the specified standards. For
with handover invitations sent via WhatsApp or email, resolving 98.5% of over one thousand complaints. example, in our hotels, we do regular checks of water
improving convenience for new homeowners. Our We utilize Net Promoter Scores and Brand Health quality to ensure guest safety. These include legionella
Township Management Division (TMD) engages with Checks to benchmark our performance against and microbe tests for the kitchen operations, ice cube
residents daily, contributing to a high complaint industry competitors and ensure our brand positioning production, and water taps. In 2025, we did not receive
resolution rate where 98.1% of all complaints were remains competitive. any sanctions for non-compliance with customer health
successfully closed in 2025. Furthermore, new residential and safety regulations, product and service information,
services like the “Ready to Move In” program and the At Aryaduta, we have moved toward a more proactive labelling, or marketing communications and no
Park Serpong Prepaid IPL Program provide tailored guest experience through the implementation of Daily products were recalled.
furniture packages and essential service vouchers to Courtesy Calls to resolve feedback in real-time during
enhance the living experience. a guest's stay. Building on a strong history of guest
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REAL ESTATE REAL ESTATE LIFESTYLE
Enhancing Digital Engagement Advancing Healthcare Innovation Enhancing Customer Value Through
through LEAP App Upgrades Through AI Integration Data-Driven Retail Innovation
LippoLand enhanced the features of its LEAP (LippoLand Siloam Hospitals advanced its digital transformation by Lippo Malls used business intelligence and consumer
Engagement Application Platform) application to improve implementing artificial intelligence (AI) across multiple behavior analytics to improve customer experience and
functionality and user experience for residents and operational and clinical functions. AI solutions were commercial performance. Analysis revealed that offering
tenants across its developments. The upgrades streamline deployed to automate medical record processing, facilitate 30 minutes of complimentary parking could potentially
service requests, billing access, facility bookings, and real-time consultations with medical practitioners, and increase customer spending by approximately IDR
community updates through a more intuitive interface optimize inventory management, thereby increasing 150,000 per visit and support more effective bundling and
and improved system performance. These enhancements efficiency and alleviating administrative burdens across targeted promotional strategies aligned with consumer
aim to deliver faster response times, greater transparency, the hospital network. These improvements enable faster shopping behaviors.
and seamless digital interaction within LippoLand’s data access, better coordination, and more efficient
residential communities. patient care. Based on these insights, the Free Parking Program
was implemented during January–February and
By continuously improving the LEAP application, Moreover, AI capabilities were integrated into medical June–December 2025, contributing to improved visitor
LippoLand reinforces digital integration within its imaging and diagnostic procedures to support more convenience, longer dwell time, and the development of
townships and mixed-use assets, supporting smart living accurate and timely clinical evaluations. By leveraging more personalized promotional strategies. This initiative
solutions and elevating overall customer experience. sophisticated analytics and intelligent automation, Siloam exemplifies how data-driven insights underpin product
enhances diagnostic accuracy, operational efficiency, and innovation, tenant value creation, and sustainable growth
patient outcomes. This initiative reflects our commitment within the retail sector.
to innovation, technology-driven healthcare, and
continuous improvement in service quality within
the network.
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PRODUCT MARKETING sharing, having facilitated over 1,500 sales through Malls reported a strong NPS of +45.1%, while Aryaduta
immersive township showcases. This momentum was maintained its market leadership by being recognized as
Product marketing serves as the catalyst that amplifies sustained through 2025 via the inaugural Styles AsikFest Indonesia's Leading Hotel Group 2025 at the World Travel
the impact of product innovation, ensuring that (ASIKFEST). In collaboration with the Ministry of Creative Awards. These metrics demonstrate that our marketing
groundbreaking ideas not only come to fruition but also Economy, this festival at Lippo Mall Nusantara served strategies are not only building brand equity but also
resonate effectively with the target audience. In 2025, our as a physical marketing vehicle for 20 curated MSME driving resilient sales growth across both affordable
marketing evolution moved beyond traditional outreach, brands. By integrating "gacha" mechanics and bonus and premium segments.
focusing on unified digital ecosystems, high-impact Zu Point rewards directly into the Styles app during the
experiential centers, and data-driven personalization. event, we bridged the gap between physical experience
and digital loyalty.
Unified Loyalty and Digital Ecosystems
The transformation of the STYLES App represents a Personalized Channel Marketing
milestone in our cross-sector marketing strategy. We Providing tailored information is crucial for enhancing
integrated our Group’s loyalty ecosystem with the loyalty, particularly within our Lifestyle segment. We
migration of STYLES to the Zu platform. Customers have enhanced our channel marketing—utilizing
can earn and redeem Zu Points seamlessly across WhatsApp and email—by implementing high-precision
participating businesses—including the recently segmentation. This ensures that monthly programs are
formalized strategic partnership with Pertamina Retail— customized for each mall and tailored to the specific
to incentivize repeat engagement through exclusive preferences of each customer. To support our residents
rewards. The app’s upgraded backend now enables 24/7, the Township Management Division (TMD)
instant gratification through QR code scanning and utilizes a specialized chatbot learning hub through
leverages advanced analytics of purchasing patterns WhatsApp. Facilitating thousands of conversations,
to deliver personalized marketing features tailored to this channel serves as a dependable marketing and
individual consumer behaviors. support tool that adapts to the diverse schedules of our
community members.
Experiential Marketing and Customer Centers
Our marketing success is anchored by physical Brand Health and Market Leadership
"discovery" hubs that drive high conversion rates. The To ensure our marketing resonates effectively, we
Customer Experience Center (CXC) at Park Serpong consistently conduct Brand Health Checks (BHC) and
continues to be a vital tool for product knowledge Net Promoter Score (NPS) assessments. In 2025, Lippo
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CARING FOR OUR Energy Efficiency & Emissions
ENVIRONMENT Water Stewardship
Waste Management
Against the backdrop of climate change, we are committed to accelerating climate action
by reducing our carbon and water footprint, improving our resource efficiency, developing
greener products and processes, and safeguarding the natural environment.
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Energy Efficiency & Emissions [OJK F.6, F.7, F.11, F.12] [GRI 302, 305]
Energy Intensity by Building Type (GJ/m²)
The World Economic Forum’s Global Risks Report Through a combination of active portfolio management
0.800
2025 continues to identify environmental threats and decarbonization initiatives, our commitment to
specifically extreme weather and the failure of climate sustainability continues to yield measurable results. 0.573
0.615
0.610
0.600
change mitigation as the most critical risks facing the Most notably, we have achieved a 34% reduction in 0.577
0.520
0.534
global economy over the next decade. As such, we are building emissions relative to our 2019 baseline. This
0.400
0.439 0.468 0.440
committed to doing our part to combat climate change progress is further underscored by a 5% year-on-year
by accelerating our decarbonization efforts through improvement compared to 2024, demonstrating 0.200
0.200
Group-wide energy and emissions reduction initiatives. how our decarbonization strategies have successfully 0.160 0.165
decoupled operational growth from environmental 0.000
ENERGY CONSUMPTION impact. By effectively offsetting the footprint of our 2023 2024 2025
expanding portfolio, we remain on a clear trajectory High-Rise Residential Malls
Electricity remains our primary energy source, toward our long-term climate objectives. Hotels Average
supplemented by diesel, petrol, and LPG for daily
operational activities. In 2025, our total energy
Energy Consumption by Business Segment (103 GJ) Energy Consumption by Source (103 GJ)
consumption reached 903,000 gigajoules (GJ) The
Lifestyle segment remains the largest consumer 1,000 1,000
904 903 904 903
of energy, accounting for 82% of our total footprint. 865 865
Despite an increase in footfall due to business growth, 800 800
we successfully maintained energy consumption levels
600 600
across both the Real Estate and Lifestyle segments.
733
755
This stability is directly attributed to our group-wide 707 835 874 880
400 400
decarbonization initiatives, including the strategic 8.5 8.1 7.3
3.9 6.9 6.1
integration of solar energy across several of our mall 200 200 5.0 4.2 4.3
0.0 0.9 2.5
assets and addressing energy efficiency findings from 170 1.4 1.5 0.7
158 150 10.7 8.4 1.9
the energy audit conducted. In the Real Estate segment, 0 0
2023 2024 2025 2023 2024 2025
energy consumption saw a slight uptick following the
expansion of our operational portfolio. In 2025, we added Real Estate Lifestyle Biodiesel CNG Diesel LPG
Natural Gas Petrol Electricity
19 high-rise residential towers in Lippo Cikarang that
have been handed over – we expect energy consumption
to rise in line with the occupancy rate.
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GHG EMISSIONS
In 2025, our total emissions across Scope 1, 2, and 3
amounted to 719 kilotons of CO₂ equivalent (ktCO₂e). Scope 1 Mobile
Combustion Scope 2
0.65 ktCO2eq
Scope 1 and Scope 2 emissions amounted to 204 ktCO₂e DIRECT EMISSIONS INDIRE CT E MISSIONS
Direct GHG emissions Indirect GHG emissions
(28%), while Scope 3 emissions amounted to 515 ktCO₂e Stationary
that occurs from sources from purchased
Combustion
(72%). Notably, the emissions from Siloam Hospitals has owned or controlled 0.95 ktCO2eq
electricity
been deconsolidated from our Scope 1 and 2 emissions,
Electricity
and reflected under Scope 3, which explains the relative Fugitive Consumption
increase in our Scope 3 emissions compared to our 1% 6.98 ktCO2eq 195 ktCO2eq 27%
of total CO2e of total CO2e
Scope 1 and 2 emissions. emission emission
In the last couple of years, we have expanded our GHG
inventory to include a broader coverage of emissions
based on materiality. Our Scope 1 emissions stem
from various sources, including refrigerant leakage
Scope 3
Investment
in air-conditioning systems, mobile combustion from
29.56 ktCO2eq
operational vehicles, and stationary combustion primarily
INDIRECT EMISSIONS
from on-site generators. Carbon emission is factored in All other indirect GHG
emissions from upstream
all types of GHGs covered by the Kyoto Protocol: carbon
and downstream activites
dioxide (“CO₂”), methane (“CH₄”), nitrous oxide (“N₂O”),
hydrofluorocarbons (“HFCs”), perfluorocarbons (“PFCs”),
sulphur hexafluoride (“SF6”) and nitrogen trifluoride 72%
(“NF3”). Rather than reporting on each gas separately, of total CO2e
emission
gases are expressed as a CO₂ equivalent (“CO₂e”). In the
calculation of our carbon emissions, we do so in line with
the Greenhouse Gas Protocol Initiative. To calculate these Purchased goods Use of sold Fuel & Waste generated Airplane Downstream
and services products energy related in operation business travel leased assets
direct emissions, we employ emission factors derived 90 ktCO2eq 137 ktCO2eq 77 ktCO2eq 40 ktCO2eq 0.4 ktCO2eq 140 ktCO2eq
from DEFRA environmental reporting guidelines7.
7
HM Treasury. 2025. “Sustainability Reporting Guidance 2025-26.” GOV.UK. July 21, 2025. https://www.gov.uk/government/publications/sustainability-reporting-guidance-2025-26/sustainability-reporting-guidance-2025-26.
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For Scope 2 emissions exclusively tied to purchased accounting of our total carbon footprint across our Scope 1 & 2 Emissions Intensity by Building Type (tCO₂e/m²)
electricity, we utilize market-based methods and entire investment portfolio. This extends our Scope 3
0.160
emission factors from the Ministry of Energy and Mineral disclosures to cover a total of seven categories (1, 3, 5, 6, 0.140
0.138 0.137
0.128
Resources of Indonesia (MEMR) for measurement. 11, 13 and 15). 0.120 0.127 0.106
0.119
0.100
0.100 0.095
We took a significant step in 2022 towards carbon We plan to consistently enhance and broaden our 0.080
0.093
inventory management by reporting on Scope 3 Scope 3 disclosures to more comprehensively reflect 0.060
emissions, which are generated by our indirect the emissions across our value chain. We also employ 0.040
0.046
0.037
operations and value chain. We started by disclosing emission factors derived from the Inventory of Carbon 0.020 0.036
substantial emission sources that are currently tracked and Energy (ICE database)9 EXIOBASE, Carbon Footprint 0.000
2023 2024 2025
within our internal reporting systems, which includes Ltd, and DEFRA environmental reporting guidelines for
embodied carbon in main construction materials our Scope 3 emissions10. High-Rise Residential Malls
Hotels Average
(steel, concrete, timber, glass) used in real estate
development projects, employee business travel (air
flights), and tenant electricity consumption. In 2023, we Scope 1 & 2 Emissions by Business Segment
Scope 1 & 2 Emissions by Sources
extended our coverage to include construction-related (ktCO₂e) (ktCO₂e)
spending for non-real estate businesses and water 250 250
198 204
consumption under Purchased Goods & Services 195 198 204 195
200 200
(Cat 1), T&D electricity losses under Fuel & Energy Related
Activity (Cat 3), waste generated in operations (Cat 5) 150 150
and managed assets owned by third parties8 under Use 166
100 183 195 100 161 166
190
of Sold Product (Cat 11).
50 50
10.42 5.67 6.98
In 2025, we expanded our Scope 3 inventory to include 1.12 1.10 0.95
34 37
0.69 0.72 0.65 32
0 0
assets over which we no longer exercise operational
2023 2024 2025 2023 2024 2025
control but maintain strategic influence, specifically
Real Estate Lifestyle
following the deconsolidation of Siloam Hospitals. While Mobile Combustion Fugitive
the operation of Siloam Hospitals is now independent Stationary Combustion Electricity
from our core operations, we continue to capture its
Under Category 11, we have reported 30 managed assets owned by third parties (23 malls, 7 office buildings). We intend to include more managed assets in the future, as and
environmental impact under Scope 3, Category 15
8
when the data is ready to be disclosed.
(Investments), proportionate to our shareholding. This 9
Inventory of Carbon and Energy is an embodied carbon database for building materials.
10
Following the GHG Protocol's guidelines, this year's emissions calculations included a separate accounting of CFCs and HCFCs. Specifically, the use of R11, R22, R123, and R104a
transition ensures a comprehensive and transparent contributes an additional 7.33 ktCO₂e.
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Scope 3 Emissions (ktCO₂e)
600
515
30
500
453
0
137
400 109
316
300 0
69 139 140
200 0.7 0.4
110 29 40
0.8
23 77
100 113
64
90
49 62
0
2023 2024 2025
Category 1 - Purchased Category 6 - Business Category 15 -
Goods & Services Travel (Airplane) Investment
(Siloam Hospitals)11
Category 3 - Fuel & Category 13 -
Energy Related Activity Downstream Leased
(T&DE electricity Losses) Asset (Tenanted Area)
Category 5 - Waste Category 11 - Use of Sold Product
Generated in Operations (Managed Fee Building)
Total Emissions by Scope (ktCO₂e)
Scope 1
9
1%
719
Scope 2
195
Scope 3 27%
72%
515 ktCO₂e
11
In 2025, re-baselining was completed following Siloam Hospitals deconsolidation. Scope 3 emissions now include Category 15 (Investments), covering Siloam as a non-
operational controlled entity using the equity control method, reflecting only LPKR's current shareholding of 29.09% as the percentage of emissions contributed by the entity.
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HOLDING LIFESTYLE
Strengthening EV Inf rastructure Palembang Icon Achieves
Green Building Certif ication
In 2025, the Group more than doubled its electric vehicle charging network from
55 to 122 charging stations, reinforcing its commitment to low-emission mobility In 2025, Palembang Icon successfully obtained The EDGE Green Building
and sustainable urban infrastructure. EV charging facilities are now operational Certification, marking another milestone in strengthening the environmental
across multiple high-rise residentials, malls, hotels, and hospitals, with additional performance of our retail portfolio. The certification reflects measurable
ports progressively installed since 2023. sustainability achievements, including 20.49% energy savings, 37.57% water
savings, and the use of materials resulting in 100% lower embodied carbon impact.
This accomplishment demonstrates our continued commitment to improving
resource efficiency, reducing environmental impact, and advancing sustainable
asset management across the Group.
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DECARBONIZATION INITIATIVES OUR DECARBONIZATION MOTIVATION
The real estate sector is at the forefront of the global climate crisis, with the built Our commitment to the decarbonization process is driven by three strategic imperatives:
environment contributing to nearly 40% of global greenhouse gas emissions.
In 2024 and 2025, the world witnessed record-breaking temperatures and
increasingly volatile weather patterns, emphasizing that climate change is no
longer a distant threat but a material risk to asset valuations and operational
stability. Following the best practices of global leaders, our Group views Risk Mitigation & Futureproofing
climate action as a critical pillar of our long-term business resilience. Beyond addressing physical climate risks, we are proactively managing
transition risks, particularly as regulatory landscapes evolve under Indonesia’s
Enhanced Nationally Determined Contribution (ENDC). In alignment with
Indonesia’s adoption of the International Sustainability Standards Board
(ISSB) framework, we have integrated IFRS S2 to fortify our portfolio against
climate-related market shifts. This is complemented by our application of IFRS
S1, which ensures that all material sustainability-related financial impacts are
transparently accounted for across our organization.
The Green Standards
Modern tenants and investors increasingly prioritize sustainability. By
retrofitting existing assets and designing new ones to green building
standards, we capture the "green premium" which yields higher occupancy
rates and rental, while simultaneously reducing operating costs through
energy, materials and water efficiency within our portfolio.
National Alignment & Social Responsibility
As a leading Indonesian conglomerate, our roadmap is inextricably linked to
the National Net Zero 2060 target. We recognize that our scale gives us the
unique ability and responsibility to catalyse the transition toward a nature-
positive and low-carbon urban landscape.
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STRATEGY & IMPACT
To achieve our emissions targets, we have institutionalized a multi-layered decarbonization approach. This structured approach supports the transition of our portfolio from traditional
consumption patterns to a high-performance, low-carbon operational model. Our decarbonization strategy is built on three strategic priorities: Energy Efficiency, Digitization, and
Lowering Emissions and Electrification of portfolio.
ENERGY EFFICIENCY
Energy Efficiency - Driving Portfolio Resilience
RETROFITS ENERGY EFFICIENCY MEASURES
At the core of our 2030 roadmap is an unwavering commitment to energy
efficiency, treating our assets not merely as structures, but as integrated, high- The systematic replacement We recognize that effective decarbonization begins with proper baselining of energy
performance ecosystems. Our strategy moves beyond passive conservation of legacy systems with performance. We conduct regular energy audits across our high-consumption assets
high-efficiency upgrades to establish precise performance baselines and identify energy leakage points. These
toward active optimization, utilizing a "measure-to-manage" philosophy.
represents our most audits allow us to move beyond generic solutions to targeted system optimization,
By combining data-led audits with international green building standards, immediate lever for demand where we deploy advanced technologies such as Variable Speed Drives (VSDs) and
we ensure that every operational adjustment translates into measurable reduction. Our focus for high-efficiency motor pumps.
retrofits consists of lighting
carbon reduction. upgrades and aging chiller By treating our buildings as integrated ecosystems, we ensure that every mechanical
replacements to ensure and electrical system is calibrated for peak performance, ensuring maximum
modernization of our assets. operational value for every kilowatt consumed.
Digitization – Leveraging Intelligence for Precision Control
Our second strategic pillar focuses on the digital transformation of our physical
assets, shifting from static operations to "smart" energy management. By DIGITIZATION
integrating real-time data analytics into our core infrastructure, we remove the
BUILDING MANAGEMENT SYSTEM (BMS) OPTIMISATION
guesswork from building operations. This digital overlay allows us to visualize
We utilize data-driven insights to achieve "smart" energy management. By optimizing our Building Management Systems
energy flow with high granularity, ensuring that our decarbonization efforts are
(BMS), we enable real-time monitoring and automated control of energy loads. This ensures that cooling and lighting are
backed by actionable intelligence. precisely calibrated to occupancy levels, eliminating waste and enhancing tenant comfort.
Lowering Emissions and Electrification – Future Proofing Our Portfolio
LOWERING EMISSIONS AND ELECTRIFICATION OF PORTFOLIO
Our third strategic pillar focuses on future-proofing our assets through lowering
SOLAR PV IMPLEMENTATION ELECTRIFICATION
emissions and electrification of our portfolio using low-carbon technologies
and infrastructure. By shifting our energy dependency away from fossil-fuel- We are transitioning our energy mix by As part of our commitment to a low-carbon future, we continue to expand
heavy grids and toward self-generated clean power and electric mobility, we leveraging our vast rooftop footprint for our electric vehicle (EV) charging stations across our high-traffic assets.
Solar Photovoltaic (PV) installations. By
are not only lowering our carbon intensity but also creating a resilient, "future- targeting a capacity of 5,000 kWp by By expanding our EV infrastructure, we are executing a strategic "carbon
ready" ecosystem. This proactive investment in electrification and renewable 2030, we are reducing our dependency trade-off": while our reported Scope 2 electricity use increases, we are
on grid-supplied fossil fuels, hedging driving a net reduction in regional emissions by displacing high-intensity
infrastructure allows us to lead the market transition, turning our physical
against rising energy costs, and directly fossil fuels. This shift addresses Scope 3 downstream impact, transforming
footprint into a strategic engine for regional decarbonization. lowering our Scope 2 emissions. our assets into catalysts for Indonesia’s green mobility transition.
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ASSESSING OUR APPROACH
While total energy consumption across certain assets may appear stable or slightly elevated despite our decarbonization initiatives, this trend reflects a thriving, high-traffic portfolio
successfully decoupling business growth from carbon intensity. The savings generated by our LED retrofits and smart optimizations have been partially offset by three critical growth
drivers: the post-pandemic surge to higher tenant occupancy and visitor footfall, which increased internal heat loads; the unprecedented climate extremes of 2025 that necessitated
extended HVAC run-times; and our strategic electrification efforts, such as EV charging installations, which intentionally shift regional carbon loads onto our meters to catalyze
community-wide fossil fuel reduction. Ultimately, our declining Emissions Intensity (tCO₂e / m²) proves that our three-pillar strategy is effective, ensuring our assets remain resilient,
high-performing, and increasingly marketable in a climate-conscious economy.
LOWE R I NG E MI SSI ONS AND
EN ER G Y EF F ICIEN CY D I GI T I Z AT I O N
E LECT R I FI CAT I ON OF PORT FOLI O
EQ UIPME N T 6 Lighting
R E T RO FITS Retrofits DIGITAL
Occupancy S O L AR PV Phase 2
Completed 1,475 O PTIMIZATIO N Sensor installed 20-30% IMPL E ME NTATIO N Lippo Mall
Cumulative
1,898.4
tCO2e
energy
tCO₂e savings Cikarang
HVAC kWp
6 New Chiller reduction (Lighting) (301.49 kWp)
temperature installed
Upgrades
adjustments PV Lippo Mall
10-20% Kramat Jati Approximately
BMS optimization energy (457.84 kWp)
tCO2e
E N ERGY Optimization of of VSD system savings 2,255
(HVAC) tCO₂e
O PT IMIZAT IO N High-Efficiency Lippo Plaza Batu
Motor Pumps reduced
(373.47 kWp)
3-10% in total
Reduction in energy
Operational savings
PEAK LOAD Changing of
Hours of Cooling ADJUSTMENTS operational time
Systems from peak load
periods at WTP
and WWTP
15-30%
departments
energy E L ECTR IFICATIO N 65 new EV 114%
E N ERGY savings Chargers increase
AUD ITS
2 Lippo Malls
audited
71% Peak loading Installed in in charging
of asset (17:00 - 22:00) 2025 infrastructure
portfolio Non-peak loading
1 Aryaduta Hotel audited (22:00 - 17:00)
audited (since 2020)
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Water Stewardship [OJK F.8] [GRI 303]
We acknowledge the crucial role of water WATER CONSUMPTION 12
stewardship in preserving the health and
well-being of all stakeholders within our Since 2022, we have drawn a distinction between the water consumption by our business units, and the water withdrawal by
ecosystem. Our commitment lies in utilizing our Water Treatment Division (WTD), which is a subset of our TMD services. This is due to the fundamental difference in the
water in a manner that is socially equitable, nature of the business, whereby our WTD withdraws water based on customer demand for treated water in our townships, and
environmentally sustainable, and economically not only for the operational needs of our businesses. For transparency, we have separately reported on water withdrawals by our
beneficial. Employing a comprehensive WTD under “Water Treatment” on page 71. In this year’s reporting, the removal of Siloam Hospital from our past 3 years of data
approach, we address the sourcing, distribution, has been accounted for and a restatement of our contributions and performance for our water targets have been restated for
and consumption of water to ensure a clarity and transparency.
consistent and reliable supply of high-quality
water. Our dedication lies in sustainable water Our main source of water is purchasing water from municipal sources. Water consumption and water quality are monitored via
management practices, emphasizing the standard operating procedures across all business segments and asset classes. In 2025, we consumed a total of 3,708 million m³
optimization of water usage and the utilization of water, an increase of 12% as compared to 2024.
of renewable water sources.
Water Consumption by Business Segment (103 m³) Water Consumption Intensity by Building Type (102 m³)
2.50
4,000 3,708
2.06
3,235 3,283 2.25
1.92
2.00
3,000 1.86
1.44 1.46
2,457 1.50 1.64
2,000 2,081 2,018 1.41
1.32
1.00
0.97 0.91
1,000 0.56
0.50
1,154 1,265 1,251
0 0.00
2023 2024 2025 2023 2024 2025
Real Estate Lifestyle High-Rise Residential Malls
Hotels Average
12
The water usage of our water treatment facilities is excluded from water consumption data, as we separately report on their water usage under the subsequent section on water withdrawal
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Sustainable Water Consumption At Imperial Klub Golf, water is sourced from a lake that
Having already surpassed our initial goals ahead of also functions as a rainwater collection system. This Water Consumption by Source (102 m³)
schedule, we have raised our 2030 target from 20% sustainable approach serves multiple purposes, including
4,000
to 30% of total water consumption to be derived from irrigating the golf course and providing water for the 3,708
sustainable sources. This ambitious target revision fire tank, ensuring a balanced use and replenishment 3,500
3,235 3,282
underscores our commitment to water circularity of water resources. Similarly, rainwater harvesting
3,000
and ensures that our core assets remain resilient and protocols have been operationalized at Aryaduta Bali,
efficient in an increasingly water-stressed landscape. where precipitation is captured and diverted into 2,500 2,444
In 2025, 34% of our water consumption originated from raw water storage tanks to reduce dependency on 2,129
2,169
2,000
sustainable sources such as wastewater recycling and municipal supplies. To ensure these technical systems
rainwater harvesting. are supported by a culture of conservation, Aryaduta 1,500
has established a dedicated Water Saving Committee.
1,000
506 690
Over the years, we have made substantial investments This internal governance body is tasked with auditing
708
to enhance our capabilities in leveraging sustainable consumption patterns and overseeing the deployment 500
607 574
water sources. We have implemented water retention of efficient technologies across all properties. 398
0
systems to collect rainwater and runoff water. Moreover, 2023 2024 2025
we have established partnership contracts with other We consume sustainable water for various purposes. For
Recycled Rain Water Purchased
water providers and continuously review the utilization instance, at Lippo Village, all operational water needs, Wastewater Water
of treated water from liquid waste areas. including irrigation and drainage cleaning, are fulfilled
using treated wastewater. Furthermore, across our
hospitals, malls, and hotels, we are actively exploring water stress according to the World Resources Institute’s
methods to enhance water recycling within our Aqueduct Water Risk Atlas. Our property has an effort to
premises. This includes utilizing recycled wastewater for optimize water usage and are prioritized across various
non-potable purposes such as cooling tower operation, properties to ensure sustainable water management
gardening, and cleaning. We are also studying practices so there were no cases of water disruption
opportunities to further recycled wastewater usage. to our customers in 2025. Our township and property
managers are responsible for monitoring water usage
Optimizing Water Usage and conserving water wherever possible. Our properties
We are committed to implementing prudent water undergo periodic maintenance of water systems and
management practices. We recognize the importance regular physical checks, which allow us to identify and fix
of reducing our water consumption and improving leakages early. These checks are performed in-house by
the efficiency of water usage, given that we operate in each business unit’s respective facilities managers and
Indonesia which experiences “high” to “extremely high" resolved by our engineers in the first instance.
69 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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Introduction Highlights Our Sustainability Approach Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices Appendix We are also constantly adopting new methods, Water Quality Checks its distribution network through regular flushing of equipment, and technology to improve our water We enforce stringent measures to uphold high water distribution pipes, safeguarding the quality of water efficiency and achieve water savings, for example by quality standards across our properties, incorporating delivered to consumers. installing water-efficient taps and adjusting flushing regular assessments to ensure compliance with Minister capacity in bathrooms. In addition, our hospitals of Health Regulation No. 2 of 2023. Monthly testing of maintain Reverse Osmosis (RO) water treatment clean water quality is conducted across all units, with systems through routine maintenance and provide routine disinfection and flushing promptly executed if backup water sources to manage water stress. Our results exceed designated parameters. Certified external mall properties focus on minimizing water disruptions laboratory analyses further validate compliance with and maximizing water recycling opportunities. Our strict quality benchmarks. hotels implement preventive maintenance programs for water supply systems to minimize disruptions to In our lifestyle segments, laboratory testing covers optimize water usage efficiency with the installation of physical, chemical, and microbial parameters across key an early warning system for IoT-based water levels that areas, including main water sources, kitchen operations, have been carried out in several hotel units. Our primary and ice cube production. Our townships adopt a water requirements are met through municipal (PDAM) multi-layered approach to water quality management, supplies, supplemented by regulated deep-well sources integrating daily parameter checks with more that are managed in strict accordance with government- extensive monthly external laboratory testing for issued permits and abstraction limits comprehensive analysis. To promote water conservation, our lifestyle segment is The Water Division enforces strict water quality control, implementing several initiatives aimed at reducing water utilizing optimized physical and chemical treatment usage. This includes decreasing the water pressure from methods to meet regulatory standards. Internal the booster pump to minimize excess consumption, inspections are performed frequently, with daily checks placing water-saving campaign stickers in bathrooms every two hours, weekly analyses, and monthly sampling to raise awareness, and installing smart valves in public across various treatment stages, including river toilet washbasins to further optimize water flow and water, feed sump, trident output, and clean water. To usage efficiency. These measures contribute to the validate internal findings, two KAN-accredited external company’s ongoing commitment to sustainability and laboratories conduct monthly testing of river and clean responsible water management. water. In addition, the division ensures the integrity of 70 PT Lippo Karawaci Tbk 2025 SUSTAINABILITY REPORT
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WATER TREATMENT Sustainable Water Treatment To ensure absolute supply continuity for our residents and
As Indonesia is prone to water stress, our WTD has industrial tenants, we have reinforced our infrastructure
In addition to on-site water management as part of our been expanding its capabilities to tap on sustainable through the interconnection of WTP 2 and WTP 3. This
operations, our WTD is directly involved in the treatment water sources such as harvested rainwater and recycled technical redundancy, paired with real-time pressure
and distribution of water in our key townships: Lippo wastewater to reduce freshwater withdrawal. For monitoring at the furthest points of our network, allows
Village, Lippo Cikarang, Tanjung Bunga, and Kemang rainwater harvesting, we have invested in the collection for a stable and consistent supply even during peak
Village13. We implement a holistic water resilience and storage of runoff water through retention ponds, demand or source variability. Furthermore, we are
strategy to manage our water supply responsibly, and to which also helps to reduce flooding in urban areas. For optimizing the efficiency of our treatment processes
mitigate any potential disruptions. Our priorities include wastewater recycling, we have equipped some of our by gradually reducing backwash intensity, a move that
promoting efficient and effective operational processes wastewater treatment plants with the systems to carry directly lowers the water footprint of our treatment
to reduce water loss, minimizing the direct use of river out additional treatment processes to ensure that the plants. At GMTD, these efforts are complemented by
and ground water as water sources, and enhancing our quality of the treated wastewater is suitable for reuse. integrated rainwater harvesting, ensuring that our
water circularity through retention ponds and treating townships are not only consumers of water but active
wastewater. We hold a water withdrawal permit (SIPA) Lippo Cikarang and GMTD have made significant managers of the local hydrological cycle.
to ensure compliance with water withdrawal limits, strides in transitioning toward a circular and redundant
and monthly water meter readings are reported to supply architecture. A key breakthrough in our Cikarang As of 2025, 7% of the total treated water (1,588,881 m3) is
the relevant authorities. In 2025, our WTD collectively operations is the redirection of backwash water into our derived from sustainable sources (recycled wastewater
withdrew a total of 20.1 million m³ of water for treatment, reservoir systems; rather than being discharged, this & rainwater). This marks a 36% YoY increase in volume
most of which came from purchased municipal water is captured for potential reuse during periods of treated water from sustainable sources. The increase
water sources .
14
of poor river water quality. This circular approach is in recycled water withdrawal is due to the expansion of
supported by the revitalization of Elysium Lake, where recycling capacity at Lippo Village WTP, from 25 LPS to
The WTD operates under strict environmental active sediment removal has improved both the storage 50 LPS. with our performance target of 1,000,000 m³ of
regulations, ensuring responsible raw water extraction volume and the biological quality of our primary water withdrawal from sustainable source, we have met
and waste disposal. Water from rivers undergoes raw water buffer. and exceeded the target for a second year and aim to
rigorous testing per PP No. 22 of 2021, while sludge from maintain our current performance going forward.
treatment is managed as regulated waste, complying
with effluent quality standards under Permen LHK No.
3 of 2010. To ensure accurate and reliable testing, the
WTD maintains dual accreditations: KAN ISO 17025 In 2023, we started our water treatment operations in Holland Village Manado. However, we have excluded the water withdrawal data from Holland Village Manado in this Report,
13
as we do not have full-year data given that the operations only began in mid-2023. Other integrated developments such as St. Moritz also have water treatment facilities, but these
(testing and calibration competence) and ISO 14001 are managed by third parties. We currently do not include 3rd party water treatment data in our disclosures.
14
Data regarding water withdrawal covers the water treatment facilities managed bv our WTD only. Our WTD purchases water from different sources – 1) treated water from
(environmental management compliance). Perusahaan Daerah Air Minum (PDAM); 2) river water; 3) groundwater; and 4) other emergency water sources (e.g. water supply from water tank trucks).
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Water Loss Avoidance water treatment facilities are being upgraded, including
Water Withdrawal by Source (103 m³)
The avoidance of water loss is a priority for our WTD, given filter media replacement and trident refurbishments.
25,000 that water is becoming increasingly scarce in Indonesia. Additional improvements include upgrading energy-
20,573 20,677 By optimizing production and distribution processes, efficient compressors, repairing leaks, and enhancing
20,112
20,000 we ensure efficient water use while minimizing costs. water treatment facilities by refurbishing the trident
Water loss prevention also helps mitigate drought and replacing filter media. To further ensure reliable
15,000
impacts on local communities. To achieve this, our WTD water delivery, hydrant pillars are being replaced, a
19,327
employs measures such as recalibrating water meters, water meter is being installed at the intake, and the
19,410 18,523
10,000
replacing pressure gauges for better distribution control, intake building is undergoing repairs. Sustainability
and upgrading inverter pump systems for consistent efforts extend to utilizing wetlands to mitigate seawater
5,000
pressure regulation. These efforts not only conserve infiltration and protect groundwater reserves, reducing
530 574 509
0
716 693 1080 water but also enhance overall system efficiency. backwash intensity to conserve water, and exploring
2023 2024 2025
water reuse by redirecting backwash water to the lake
Efficient water management and regulatory compliance as an alternative raw water source. The revitalization of
Recycled Rain Water Purchased
Wastewater Water
remain top priorities. Regular monthly water balance Elysium Lake further supports these efforts by reducing
reviews help identify discrepancies, ensuring operational sedimentation and improving water resource quality.
efficiency. Compliance with surface water extraction
Water Withdrawal from Sustainable Source (103 m³) regulations is maintained through adherence to SIPA To enhance water sustainability, we are utilizing
(Surface Water Extraction and Utilization Permit) wetlands to mitigate seawater infiltration and protect
1,600
1,589 conditions, with monthly reports submitted to Perum groundwater reserves. Water conservation efforts
1,400 Jasa Tirta II and quarterly updates provided to the Balai include reducing backwash intensity and exploring
1,245 1,267 Besar Wilayah Sungai. water reuse by redirecting backwash water to lakes
1,200
for use as an alternative raw water source when river
1,000
Significant investments are being made to enhance quality is poor. The revitalization of Elysium Lake further
800 efficiency and sustainability through technological and supports these initiatives by reducing sedimentation
infrastructure upgrades. The introduction of a new water and improving water quality. In addition, we have
600
meter brand has reduced non-revenue water by 5%, while included a new Reverse Osmosis (RO) System in 2025 to
400
inverter motor drives have cut electricity consumption enhance our water quality this new additional process
200 by 15%. Aging galvanized iron pipes are being replaced has been optimized within our water treatment plants.
0
with high-density polyethylene (HDPE) alternatives, and
2023 2024 2025
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WASTEWATER to licensed treatment facilities, with detailed records Wastewater Treatment by Business Segment (103 m³)
maintained for transparency and compliance.
2,000
We manage wastewater responsibly to comply with
1,800 1,737
regulations and minimize environmental impact on In 2025, our business units generated a total of 4.3 million 1,594
1,600 1,527
local communities. All wastewater generated at our m³ of wastewater, of which around 64% was recycled or 1,419
1,400 1,331
managed properties undergoes treatment at certified reused for subsequent use, while the remaining was
1,200
wastewater treatment plants (WWTPs), the majority discharged externally. Our WTD treats wastewater which 997
1,175 1,174 776
1,000 1,057
of which are on-site, before being safely discharged or not only includes wastewater discharged by our business 640
800
reused. We regularly monitor treated water quality for pH units, but also wastewater generated by residential, 601
600
and flow rate parameters, with accredited laboratories commercial, and industrial tenants.
400
691 643
conducting periodic testing. 563 470
200 419 396
0
Each facility type follows tailored wastewater Discharged Diverted Discharged Diverted Discharged Diverted
management practices. Hospitals adhere to strict 2023 2024 2025
disposal regulations to ensure safe treatment, while Real Estate Lifestyle
malls and hotels adopt sustainable approaches. Malls
manage wastewater through direct city drainage
where permitted, third-party treatment, or on-site
Wastewater Treatment by Water
recycling, with nine malls currently utilizing water
Treatment Division (103 m³)
recycling systems. Aryaduta hotels integrate drainage
3,000
systems into either the hotels or the city’s sewage 2,780
treatment plant (STP), with routine maintenance and 2,500
audits ensuring operational efficiency. Biodegradable 2,044
2,167 2,231
chemicals in guest rooms and kitchens further support 2,000
1,792
eco-friendly practices. 1,582
1,500
In our townships, centralized WWTPs serve multiple 1,000
properties connected by a common sewage network.
500
Sludge residue from water treatment is processed
in designated sludge drying beds before further
0
management, while hazardous and toxic waste (B3 2023 2024 2025
waste) is strictly handled by environmental regulations.
Diverted Discharged
Hazardous waste is collected separately and transported
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Waste Management [OJK F.4, F.5. F.13-15, F.16] [GRI 306]
We are committed to providing a clean and sustainable
NON-HAZARDOUS (TONS) HAZARDOUS (TONS)
living environment for all stakeholders. Given the
WASTE TOTAL
substantial volume of waste produced during our 2025 (TONS)
DISPOSED DIVERTED DISPOSED DIVERTED
business operations and from our customers and
tenants, effective waste management is crucial. Our Real Estate 106,153 786 274 1 107,214
strategy for waste management centers on optimizing
resource efficiency, minimizing waste generation, and
Lifestyle 6,328 1,756 7 4 8,095
enhancing recycling rates to contribute to the principles
of a circular economy. As part of our 2030 Sustainability
Total 112,481 2,542 281 5 115,309
Agenda, we are committed to diverting at least 3,000
tons of waste from landfill each year.
MANAGING WASTE RESPONSIBLY
Non-Hazardous Waste (Tons) Hazardous Waste (Tons)
Given the diverse scope of our operations, we manage
120,000 700
112,481
various types of waste including domestic waste from 633 616
6,328 17 24
600
100,000
commercial and residential areas, medical waste
500
from our hospitals, landscape waste from township 80,000
400
management, and construction waste from project
60,000
51,484 281
development. In 2025, our managed assets and 41,649 106,153
300
616
592
7
9,993
40,000
townships generated around 115,309 tons of waste in 7,987 200
274
total, comprising 115,023 tons of non-hazardous waste 20,000 41,491 100
33,662 1,202 1,339 1,756 0 0 4
and 286 tons of hazardous waste. The majority of this 2,977 1,775 3,053 1,714 2,542 786 2 2 5 5 5 1
0
0
waste was generated by our tenants and contractors. Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted Disposed Diverted
2023 2024 2025 2023 2024 2025
We are pleased to report that there were no spills of Real Estate Lifestyle Real Estate Lifestyle
chemicals, oils and fuels, among other substances
that could potentially affect soil, water, air, biodiversity Disposed = Incinerated or Landfilled Diverted = Reused, Recycled or Composted
and human health.
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Types of Waste Generated and Managed are managed safely and responsibly without impacting well-being is also supported through collaborations
Our waste management policies and SOPs provide clear the surrounding ecosystem. with local NGOs to donate excess consumable
guidance on the appropriate collection and disposal F&B production.
methods for various waste types, ensuring compliance Hazardous waste is carefully managed under strict
with local laws and regulations. We engage municipal protocols to mitigate environmental and health In the residential and township sector, LippoLand has
waste services and specialized third-party vendors to risks. We operate temporary storage facilities where integrated 3R awareness campaigns for residents and
collect and dispose of waste, prioritizing landfill reduction necessary and work exclusively with licensed vendors implements diverse composting programs. Notable
through waste segregation and recycling initiatives. for transportation, treatment, and disposal. To ensure initiatives include the conversion of organic and
Where available, we partner with waste segregation compliance, vendors must provide proof of licensing. landscape waste into fertilizer at SDH, maggot cultivation
vendors to enhance sustainability efforts. Non-hazardous LippoLand utilizes the SIRAJA reporting platform for at Embarcadero, and biopower applications at Nine
waste is sorted on-site before being transferred to digital tracking of hazardous waste manifests to ensure Residence. With the success from the 3R awareness
local waste collection sites (TPS) or recycling facilities. strict adherence to PP No. 22 of 2021. campaign for composting, other developments such
In our townships and integrated developments, TMD as St. Moritz are piloting the effectiveness to produce
collaborates with authorized vendors who recycle what REDUCE, REUSE, RECYCLE compost from landscape waste as a means to recycle
they can before proper disposal. To further support waste waste for reuse. At the industrial level, our Wastewater
management improvements, we provide financial and We are committed to minimizing waste disposal Treatment Plant (WWTP) department is scaling plans
infrastructural assistance to local communities. by actively promoting the principles of Reduce, to reprocess biodegradable by-products into organic
Reuse, and Recycle (3R). This involves engaging fertilizer and is exploring the transformation of sludge
The Group strengthened its waste management stakeholders—including staff, visitors, tenants, and cake into construction materials such as concrete blocks.
framework by operationalizing standardized SOPs residents—and partnering with public and private waste
across its diverse portfolio, ensuring full compliance with management vendors. Lippo Malls continues to drive landfill diversion, where
Indonesian environmental regulations (Government 18% of total waste was diverted. In addition to common
Regulation No. 27/2020 on Waste Management). Our Aryaduta has established a robust resource circularity recycled materials such as paper, plastic, and aluminum,
approach has transitioned from mere disposal to a circular framework that prioritizes the recovery of plastic bottles, Lippo Malls has specific vendor partnerships to manage
economy model, where landfill diversion is prioritized cardboard, and used cooking oil. This is supported by and recycle refrigerant waste from large-scale cooling
through strategic partnerships with municipal services a standardized segregation protocol within dedicated systems. In addition, we strictly enforce regulations
and specialized third-party environmental vendors. garbage rooms where solid waste is meticulously prohibiting single-use plastic bags in provinces such
Our management strategy focuses on the systematic separated into dry, wet, and recyclable categories. as Jakarta and Bali, working closely with tenants to
identification, segregation, and responsible disposal To reduce upstream waste, all hotels have replaced ensure compliance.
of hazardous and non-hazardous waste streams. By individual single-use soap and shampoo bottles with
standardizing these waste management protocols and refillable dispensers. Furthermore, the transition
providing infrastructure support where needed to local to digital QR code-based hotel compendiums has
communities, the Group ensures that all waste streams drastically reduced paper consumption. Community
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REAL ESTATE H E A LT H C A R E LIFESTYLE
Raising Resident Awareness Scaling Hospital Waste Recycling Integrated Waste Segregation,
on Waste Segregation Through Waste Bank Initiatives Recycling, and Circular
Waste Management
LippoLand conducted socialization activities on waste In 2025, Siloam Hospitals strengthened its environmental
segregation for apartment residents, including owners performance by expanding its Waste Bank program Aryaduta Hotels implements standardized waste
and occupants, to promote better waste handling at the across 46 hospitals, facilitating the systematic segregation segregation procedures across all properties, separating
source. The activities were carried out through direct and recycling of selected non-infectious plastic waste, waste streams including plastic bottles, cardboard,
engagement sessions and on-site communication, including packaging from medical supplies and styrofoam, used cooking oil, and organic waste. Recyclable
focusing on practical guidance for separating recyclable disinfectants. Supported by internal waste management materials and used cooking oil are managed through
materials, particularly cardboard and packaging waste, and plastic shredding processes, recyclable materials certified third-party partners, whereas organic waste is
from general waste. Through this initiative, LippoLand are repurposed for operational use, reducing reliance on either composted in-house for landscaping purposes or
aims to encourage responsible waste practices among disposal streams and improving resource efficiency. The processed externally for composting or animal feed. In
residents and support more effective downstream waste broader implementation of the Waste Bank initiative in 2025, a total of 1,486 tons of waste were processed through
management at the property level. 2025 resulted in a 300% increase in recycled waste volume recycling, reuse, and composting programs.
compared to the previous year, demonstrating stronger
integration of responsible waste management practices Compliance with waste regulations is reinforced through
across the hospital network. Through this initiative, Siloam quarterly Food Safety Audits, segregation inspections
Hospitals contributes to reduced landfill dependency, at waste storage sites, hazardous waste isolation
enhanced material recovery, and ongoing environmental procedures, and routine monitoring of waste generation
impact management, in accordance with the Group’s data. Waste data is systematically gathered through
sustainability commitments. daily vendor weigh-ins of wet and dry waste, along with
documented waste reports. Waste reduction efforts
include implementing e-concierge systems, digital
guest information, using refillable soap and shampoo
dispensers, donating surplus food at select locations, and
the strengthening of recycling programs in kitchens and
operational areas.
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MATERIAL USAGE
Apart from operational waste, we acknowledge that the utilization of construction
materials contributes to our embodied carbon footprint. Demonstrating our
commitment to sustainability, we are actively striving for greater efficiency in material
use and seeking environmentally friendly alternatives whenever feasible. In the Real
Estate segment alone, we generated approximately 155 kilotons of construction
materials, including concrete, steel, glass, and timber. To mitigate the environmental
impact, we are exploring initiatives like prefabrication, recycling of leftover materials,
and promoting home renovations instead of demolition and new construction. In
addition, we are delving into sustainable design practices to enhance material usage
efficiency in project development. Our aspiration is to obtain more green certifications
for new build projects, reflecting our commitment to environmentally responsible
construction practices.
Construction Materials (Tons)
200,000
180,000
12,949
4,081
160,000
45,300
140,000
62,659
120,000
26,885
100,000
80,000
46,492
60,000 121,177
99,355
40,000
991
47,431
20,000 337
31 840 100
2,300 14,356
4,159 2,090 1,960 123
1,624 12 39
5,101 6,518 7,691 2,437 173
5,508 96 331
2,465 132
627 997 11,900
0
Concrete Steel Glass Timber Concrete Steel Glass Timber Concrete Steel Glass Timber
2023 2024 2025
LPKR LPCK GMTD
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INVESTING IN OUR PEOPLE Employment & Rights
Occupational Health & Safety
Our people are our most valuable resource and the driving force behind our business success. Training & Development
We are committed to being a workplace of choice for our employees by upholding fair
employment practices, prioritizing their health, safety, and well-being, supporting their
development and aspirations, and empowering them to be a force for good.
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Employment & Rights [OJK C.3, F.18, F.20, GRI 2-7, 2-8, 2-30, 401]
Our goal is to attract and nurture a diverse and dedicated Employment by Status Employees Non-Employee Workers
by Business Segment by Business Segment
pool of people that adds value and drives organizational
growth. A stable workforce reduces turnover costs and 1,055 5,409
32% 38%
business interruptions, ensuring business continuity
and fostering a stable, collaborative work environment Permanent Employees
14,184
founded on enduring relationships. This approach Contract Employees 3,328 14,184
Employees Non-Employee
enables us to concentrate on enhancing productivity, Non-Employee Workers
1,564 Workers
achieving operational excellence, and promoting 2,273 8,775
1,764 68% 62%
employee satisfaction and well-being.
Employees Non-Employee
Workers Real Estate Lifestyle
As of the 2025 reporting period, our workforce is
strategically distributed across business segments, with
the Lifestyle sector comprising 68% and the Real Estate
sector accounting for 32% of our employees. We oversee
a diverse collective of non-employee workers, including
outsourced staff, contractors, and partners, which
ensures business continuity and fosters a collaborative
environment across our business units. The majority
of our employees are permanent staff. We oversee a
collective workforce of 14,184 non-employee workers
across all our business units15. Together, our workforce
totals 17,512 individuals, with employees representing
19%. For a detailed demographic breakdown, please
consult the "Appendix - Workforce Data" located
on pages 105 to 107.
15
Non-employee workers are outsourced or contractors that include construction, landscaping, administration, building maintenance, cleaning and janitorial service, security, housekeeping, customer service, F&B service, parking attendants, and call center operators.
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EMPLOYEE BENEFITS All staff receive essential coverage through BPJS EMPLOYEE ENGAGEMENT & RETENTION
Kesehatan (health insurance) and BPJS Ketenagakerjaan
We prioritize our employees' holistic well-being by (social security), which is further enhanced by private We believe that a positive and nurturing work
providing a comprehensive benefits package that medical insurance, including specialized dental, environment is essential to attract, motivate and retain
supports their health, financial security, and personal spectacle, and medical check-up coverage. We talent. Apart from the benefits we provide, we involve
milestones. All our permanent and contract employees provide post-employment benefits in accordance with our employees in year-round engagement events,
receive similar benefits, encompassing annual leave, prevailing regulations. In total, our post-employment training sessions and town halls to enhance their
parental and special leave, counselling, wellness benefit liabilities stand at Rp 195.5 bn as of 31 December workplace well-being and strengthen our corporate
programs, medical insurance coverage, along with 2025, based on calculations by an independent actuary. culture. We organize various commemorative events
exclusive discounts on products and services linked to • BPJS Pension Guarantee, a mandatory government and friendly sports tournaments throughout the year
the Group. Some of our business units provide additional program, with employee contribution of 1% and to foster connections between and among our business
benefits depending on the nature of their work and the company contribution of 2%. units. The monthly newsletter, Infinity, serves as a source
job scope involved. • BPJS Employment Old Age Security, a mandatory of updates on key company activities and business
government program, with employee contribution performance for our employees. We place emphasis on
of 2% and company contribution of 3.7%. attracting and retaining the best talent.
Parental Leave Return to Work & Retention Rates New Hires
16
2%
290
Staff Who Returned To 100%
32% 402
Work After Parental Leave 48 36 Return to work
44% 242
rates - Male 100% 27%
(12 Month Retention) Business
Gender 487 Age 663
615 Segment
54% 73%
68%
Staff Who Returned 91%
Return to work
To Work After 46 44
rates - Female 93%
Parental Leave
Employee Turnover
94%
Staff Who Took Retention
50 44 40
Parental Leave rates - Male 75% 7%
178 121
31% 165 21%
Staff Entitled Retention 86% 29% Business
579 1,408 100.0% 392 Gender 365 Age 449
To Parental Leave rates - Female Segment
100% 69% 64% 79%
0 200 400 600 800 1,000 1,200 1,400 0% 20% 40% 60% 80% 100%
Female < 30 > 50 Real Estate
Female Male Real Estate Lifestyle
Male 30-50 Lifestyle
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Our retention strategy is built on a holistic lifecycle
HOLDING
approach, beginning with competency-based
recruitment and a structured digital onboarding
experience designed to ensure early role readiness. To Promoting Employee Wellness and Engagement
foster long-term commitment, we prioritize internal
mobility and leadership continuity by implementing Lippo Malls promotes holistic employee well-being through “LMInity”, an inclusive community dedicated
Individual Development Plans (IDPs) for high-potential to employee sports and arts, which offers activities such as cardio dance, yoga, basketball, e-sports,
talent. This is supported by a robust learning ecosystem, knitting, and creative sessions conducted on a monthly basis. Furthermore, the Company collaborated with
including the Lippo Learning Hub, which offers Vida Essential+ to implement the “Recharge & Stay Active” program, delivering wellness education, BMI
thousands of courses to help employees manage their assessments, and skin health evaluations. These initiatives support physical and mental health, as well as social
career progression and maintain employability in a engagement within the workforce.
shifting business landscape. As employees reach the
end of their professional journey with us, we ensure
respectful transition processes, reinforcing a culture of
dignity and sustainable workforce management.
In 2025, we welcomed 905 new employees to our
organization. The majority of these new hires were male
(67%) and between the ages of 30-50 (54%). However,
570 employees departed from the organization during
the same period. For additional details on activities
promoting employee well-being, please refer to the
“Health and Safety” section on page 84.
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DIVERSITY & EQUAL OPPORTUNITY [GRI 405]
Non-Staff 30 117
Employee’s
Diversity, equity, and inclusion (DEI) are fundamental aspects of our culture and identity. Staff 803 1,117 Position By
Gender
We embrace a rich diversity of perspectives. Employees from various business units Supervisor 280 532
Female
collaborate, leveraging their diverse skills, backgrounds, and experiences, resulting
Manager 145 293 Male
in exponential growth through organizational synergy. While acknowledging the
Executive 0 11
progress made, we remain committed to fostering diversity and inclusiveness within
our leadership structures, actively working towards achieving a more equitable and 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
representative gender balance at all levels of our organization. Our female employees
Non-Staff 67 53 73 7
make up 38% of our total workforce. We deliberately strive to maintain gender diversity to
Employee’s
the best extent possible, taking into account these industry specific gender distributions. Staff 811 1062 47
Position By Age
Our hiring policy ensures that we maintain a gender balance, even in our shortlisting of < 30
Supervisor 109 644 59
job candidates. There were no reported incidents of discrimination in 2025. 30-50
Manager 9 362 67
> 50
Executive 0 5 6
3,328 62% 38% 32% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Female Executives
Employees Male Female
and Managers
Non-Staff 147 0
Local & Foreign
Staff 1,920 0
Employment
Statistics
Employee Demographics Supervisor 812 0
Local
186 168 Manager 426 12 Foreign
6% 5%
996 777 Executive 10 1
1,258 23%
30%
38%
86% 88% 90% 92% 94% 96% 98% 100%
2,070 Gender Age Educational
Qualifications
62%
1,968 415 Employment
2,146 59% 13% By Region
64%
363
Java
Female 11%
< 30 High School Certification
Employee (%)
2,538 Kalimantan
Male 76%
30-50 Diploma Sumatra
> 50 Undergraduate Degree Sulawesi
233 161
Postgraduate Degree 43 7% 5% Bali, Nusa Tenggara,
1% Maluku, Papua
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Within our leadership ranks, females represent 14% contractors, underscores our support for the local Freedom of Association & Collective Bargaining
of our Board of Commissioners (one out of seven community, and contributes to the national economy [GRI 406]
members), while our Board of Directors consists of 6 through local employment opportunities The rights and obligations of our employees are regulated
male members. Notably, 32% of our employees who in the Group Regulations. To minimize business
hold managerial positions and above are female. While Non-Discrimination [GRI 406] disruption, we maintain two-way communication
we promote employees strictly based on performance, We ensure that our employees are compensated fairly, channels between the organization and employees, and
leadership ability, and experience, we are committed taking into account employment status, job scope, any significant operational changes within our business
to gender diversity and strive for balance within our and qualifications, among other relevant factors. As which have the potential to affect our employees
senior and middle management, especially in a matter of policy, there is no difference in the salary are communicated beforehand. We respect workers’
our succession planning. range between male and female employees across rights to exercise freedom of association or collective
all employee categories and levels. Any differences bargaining. As of 2025, none of our employees are
In addition to gender diversity, we value a in compensation are strictly due to the individual’s covered under collective bargaining agreements.
multigenerational workforce, creating opportunities qualifications and are irrespective of gender. We strive
for both young talents and industry veterans. Our to narrow any compensation gap between our female Child Labor, Forced or Compulsory Labor
employees between the ages of 30-50 make up a larger and male employees. In addition, our entry-level wages [F.19] [GRI 408, 409]
portion of our workforce, with 54% of our 905 new hires in are always equal to or above local minimum wages We adopt a zero-tolerance stance towards child,
2025 falling into this age bracket. Furthermore, we take throughout our locations of operation across Indonesia, forced, or compulsory labor, which is highlighted in
pride in the fact that 77% of our employees have tertiary demonstrating our commitment to fair compensation for our HR policy and Code of Conduct. We ensure that all
qualifications and above. To maintain our competitive our people. There are no reported cases of discrimination employees understand these human rights principles
edge, we actively recruit from diverse educational during this period. through the annual mandatory refreshment courses of
backgrounds and areas of expertise, recognizing our Code of Conduct. Our operations and the suppliers
that a strong educational background is vital for we engage with have been categorized as low risk in
delivering quality service. terms of potential involvement in child and forced labor.
In 2025, there were no reported incidents relating to
We also believe that investing in local talent builds discrimination, child labor, forced labor, or any major
a strong pipeline of skillful and capable workers in employment case.
Indonesia. Currently, 99.6% of our employees are
Indonesian citizens. Where possible, we prioritize the
hiring and placement of employees in their region of
origin to ensure our teams have a deep grasp of local
socio-political and cultural sensitivities. This approach
supports local area empowerment and extends to
our preferential engagement of local vendors and
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Occupational Health & Safety [F.21] [GRI 403]
We are committed to providing a safe and conducive (wellness) initiatve at Aryaduta, to address both mental improvement areas such as the restoration of hydrant
environment for all our stakeholders to thrive. and physical health. and MCFA (fire alarm) systems, as well as the automation
Recognizing that a healthy workforce is vital for business of evacuation support mechanisms. Emergency
continuity, we have implemented an Occupational OHS MANAGEMENT readiness is reinforced through large-scale simulations.
Health and Safety (OHS) management system aligned Across our mall portfolio, 390 emergency drills were
with best practices and SMK3 government regulations, Systems & Policies conducted covering a range of scenarios including
covering 100% of all employees and non-employee Each business unit is responsible for maintaining its fires, earthquakes, bomb threats, and infectious disease
workers. Our objective is to foster a workplace culture own OHS management system, in line with applicable outbreaks. We also conducted simulations in residential
where OHS is internalized and implemented at government regulations and industry standards. This developments such as Embarcadero, Millennium
every operational level through the establishment of includes the appointment of dedicated OHS officers Village, Menara Matahari, and Lippo Village. Beyond
comprehensive OHS governance frameworks. responsible for hazard identification, risk assessments, immediate safety risks, the Group also actively manages
and routine safety inspections. Incident management environmental OHS risks at the asset level, including
EMPLOYEE WELL-BEING protocols are standardized across the Group, requiring through close coordination with the Environmental
immediate escalation to head office for reporting and Agency to improve management of wastewater
We adopt a comprehensive approach to advancing the investigation. Corrective and preventive actions are and hazardous waste.
well-being of our staff, as it contributes to improved systematically implemented following any incident to
health outcomes and a more content workforce. In mitigate recurrence risks. At the Group level, the OHS Training & Capability Building
addition to government-mandated benefits (BPJS Committee—operating under the ESG Committee— Building a strong safety culture is a core priority,
Kesehatan and BPJS Ketenagakerjaan), we promote serves as the central governance body. Comprising supported by a formalized OHS training curriculum
health through enhanced private insurance coverage, representatives and OHS specialists from each implemented across the organization. In 2025,
providing access to high-quality inpatient and outpatient business unit, the Committee ensures consistent employees completed approximately 3,900 hours of
care, dental treatments, and medical checkups. In 2025, policy implementation, knowledge sharing, and OHS-related training. Health and safety modules are
we organized monthly webinars through Lippo Group alignment of safety practices across Lippo Karawaci’s integrated into employee onboarding, complemented
Insurance (LGI) and providing annual medical check- diversified portfolio. by digital learning platforms to ensure continuous and
ups for Head Office employees and their families. These scalable knowledge dissemination.
health talks specifically addressed top-of-mind issues, Audits & Simulations
such as the global surge of Human Metapneumovirus To ensure the effectiveness of OHS systems, the Group Training programs are designed to be practical and
(hMPV) and Influenza A. Our business units also conducts regular audits and emergency preparedness scenario-based. Key initiatives include fire and disaster
offer wellness-focused internal programs, such as simulations across its assets. In 2025, OHS Specialists simulations across multiple sites, as well as specialized
the LMInity sports community and the Tjakap Djiwa carried out internal audits at 24 malls, identifying key training such as fire safety protocols for electric vehicles
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and charging stations. In addition, employees are equipped with cross-functional capabilities that intersect with
environmental sustainability, including the proper handling and management of hazardous waste. These programs
ensure that the Group not only meets compliance standards but also builds long-term organizational resilience in
managing health, safety, and environmental risks.
OHS TRAINING TYPE JOB SPECIFIC TRAINING
Real Estate Lifestyle
General Training • Emergency response • Electrical engineering personnel • Food safety & hygiene management
• Safety awareness certification • First aid certification
• Conducting day / night Fire Drill including • Electrical safety • Preventive maintenance
drill with Fire Department in all units • First aid certification • Personal hygiene & sanitation
• First Aid training • Floor warden safety training • Pest control management
• Specialized fire safety for electric vehicles • Handling power tools • Safety equipment review
• General health & safety
• OHS Management & Simulation
OHS PERFORMANCE
The Group established a centralized system that tracks incidents involving both employees and contractors. Incidents are
categorized by type, including vehicular accidents, falling objects, machinery-related injuries, burns, and cuts, enabling
systematic identification of key risk areas. In 2025, vehicular incidents—particularly those related to brake malfunctions
and road traffic collisions—were identified as a key source of potential high-consequence injuries. In response, we
strengthened preventive controls by mandating regular vehicle inspections and maintenance protocols across operations.
As part of our 2030 Sustainability Agenda, we aim for zero fatalities and high consequence injuries, as well as ≤ 1 lost
time injury frequency rate (LTIFR). LTIFR focuses on serious injuries leading to lost work time, providing a more accurate
and industry-comparable measure of safety performance. This approach helps prioritize high-impact safety actions and
reinforces a culture focused on preventing severe injuries. In 2025, the Group achieved zero fatalities across all operations.
One high-consequence injury was recorded involving a non-employee worker. A total of 16 injuries were recorded among
employees and 26 injuries among non-employee workers. We reported an LTIFR of 0.30 for employees and 0.36 for non-
employees, remaining within its established performance threshold.
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All OHS incidents are subject to formal investigation
EMPLOYEE OHS N O N -EM PLOYEE WO R K ER
processes, including root cause analysis to identify PERFORMANCE (2025) O H S PER FO R M AN CE ( 202 5 )
contributing factors and areas for improvement. Insights
from these investigations are used to implement
corrective and preventive actions across relevant
business units. Following incidents recorded during 0 0 16 2 0 1 26 14
the year, the Company implemented several Fatalities High Conse- Recordable Lost Time Fatalities High Conse- Recordable Lost Time
quence Injuries Injuries Injury quence Injuries Injuries Injury
enhancements, including:
• Establishment of a dedicated OHS task team
0 0 2.4 0.3 0 0.16 0.67 0.36
Fatality High Conse- Total Recordable Lost Time Fatality High Conse- Total Recordable Lost Time
to strengthen oversight of high-risk activities Rate quence Injury Injury Frequency Injury Rate quence Injury Injury Frequency Injury
Frequency Rate Rate (TRIFR) Frequency Frequency Rate Rate (TRIFR) Frequency
• Review and reinforcement of operational Rate (LTIFR)
Rate (LTIFR)
procedures, including stricter pre-entry safety
checklists
• Enhancement of emergency response protocols 6,656,000 Working
Hours 38,520,758 Working
Hours
to improve incident readiness and response time
• Roll-out of refresher training programs focused
on hazard identification and risk awareness
These measures are aimed at reducing recurrence,
strengthening operational controls, and reinforcing
a proactive safety culture.
Please refer to “Appendix – Workforce Data” on page
107 for a full breakdown of our OHS performance, and
“Appendix – Reporting Methodology” on page 101 for
the injury definitions and calculation formulas used
in our disclosures.
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Training & Development [F.22] [GRI 404]
STRUCTURED LEARNING APPROACH courses ranging from mandatory annual ethics and Strengthening Governance Through
governance training to advanced functional leadership Responsible AI Adoption
LPKR is committed to developing a high-performing programs. This ecosystem is further enriched by
Lippo Malls advanced its governance and operational
workforce through structured learning, continuous specialized hybrid training sessions, such as the Finance
efficiency by adopting AI tools such as ChatGPT to
performance management, and targeted capability- Forum, which were introduced this year to encourage
streamline internal administrative and legal tasks.
building initiatives. The Group’s training approach cross-functional knowledge sharing and deepen role-
These AI applications assist employees with meeting
is designed to align employee development with specific expertise through a blend of virtual and in- summaries, analyzing texts and data, and rapidly
organizational priorities, ensuring that learning person engagement. retrieving information, which boosts productivity and
interventions translate into measurable performance supporting superior decision-making.
outcomes. Our training and development initiatives Enhancing AI and Digital Capabilities
To promote responsible use, the Company organized
have evolved from foundational skill-building to a A cornerstone of our 2025 strategy is the significant
a series of five webinars called "AI Transformation at
future-ready framework designed to support long- expansion of learning content dedicated to Digital
Workspace" focused on AI and cybersecurity from June
term business sustainability amidst a rapidly shifting Capabilities and Artificial Intelligence (AI). Recognizing to August 2025, targeting head-office employees and IT
technological landscape. that AI is a transformative catalyst, we have integrated teams. Topics included AI fundamentals, generative AI,
AI-readiness across all business segments to cybersecurity risks, data privacy, misinformation, and
strategies to mitigate over-reliance. These initiatives have
This year, we transitioned to a structured “Integrated fundamentally change how we operate. This integration
established a foundation for a systematic approach to
Learning Journey” model, a three-stage framework drives operational efficiency by training employees to
AI risk awareness, strengthening internal controls, data
designed to ensure that every training intervention leads leverage AI tools for the automation of routine tasks,
protection, and governance readiness.
to a measurable organizational impact. The journey which in turn allows our workforce to focus on high-
begins with the acquisition of foundational knowledge value strategic decision-making. Furthermore, this focus Moreover, to prepare employees for responsible digital
through our expanded digital curriculum, which on AI has empowered our teams to utilize predictive adoption, Lippo Malls organized a series of seminars on
AI Productivity and Cybersecurity throughout 2025. These
then moves into a transformation phase where that analytics for superior consumer insight across our retail
sessions were designed to improve understanding of
knowledge is converted into practical, role-specific skills. and real estate sectors, fostering data-driven innovation.
Generative AI, workplace productivity, and associated
This cycle culminates in real-world application where By prioritizing these "Future Readiness" modules, we
cybersecurity risks, while emphasizing the significance
employee performance is evaluated against defined ensure our workforce is not merely reacting to digital of secure and ethical AI utilization. The program included
competency goals. To support this journey, the Lippo trends but is actively leading the integration of emerging modules such as 'Introduction to AI', 'Getting Started with
Learning Hub now serves as our centralized Learning technologies into our core business processes to ensure GenAI', 'AI at Work: Understanding Cybersecurity Risks',
and 'Cybersecurity Best Practices', engaging all employees
Management System (LMS), hosting thousands of long-term talent resilience.
at the Head Office as well as specialized sessions
tailored for IT teams.
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PERFORMANCE MANAGEMENT future-ready workforce. We recognize that sustained
AND DEVELOPMENT investment in employee capability is critical to driving
Average
operational excellence, supporting innovation, and Training Hours by
33 Employment Position
The Group maintains a comprehensive performance strengthening long-term business resilience.
management system that emphasizes continuous 54 Non-Staff
feedback, fair performance evaluations, and structured In 2025, our employees participated in a total of 47,802 1312 Staff
Supervisor
career development. 100% of our full-time employees hours of training, equating to an average of 23.6 hours
received regular performance and career development per employee, far exceeding the annual target. In line 16 12 Manager
Executive
reviews. We implement Individual Development with the Company’s growing focus on sustainability
Plans (IDPs) for identified talent across all levels, integration, employees completed 1,394 hours of ESG-
leveraging AI to uncover competency gaps. Through related training, delivered through a combination of
this structured and data-driven approach, we continue internal programs and external expert-led sessions.
to foster a culture of continuous learning, strengthen These trainings are designed to build technical
employee engagement, and support long-term knowledge, strengthen compliance with evolving Average Training
organizational growth. regulatory frameworks, and embed ESG considerations 20 Hours by Gender
into day-to-day decision-making. Key topics 25 Female
Our Management Development Program continues to covered include: Male
shape the next generation of resilient leaders by tailoring
these programs to individual needs and organizational • Climate risk assessment and decarbonization
challenges, thereby ensuring a robust executive talent planning workshops tailored for business units
pipeline. We also foster a strong sense of connection and • Socialization of ISSB requirements to enhance the
open communication through strategic engagement quality and consistency of sustainability disclosures
1,394
events, including the LippoLand Leader’s Workshop and • Refresher training on carbon accounting
the Lippo Leadership Offsite Meeting, which serve to methodologies and ESG data collection and
align leadership vision with operational execution. reporting processes Total ESG training hours
Training Performance Through these initiatives, we seek to equip our workforce
3,900
As part of our 2030 Sustainability Agenda, we aim with the knowledge and skills required to support
for our employees to participate in an average of 15 its sustainability strategy, while fostering a culture
training hours each year, reflecting our commitment of accountability and continuous improvement Total OHS training hours
to continuous learning and the development of a across the organization.
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FROM BATCH 10
TO BUSINESS DEVELOPMENT LEADER
Brenda Charisma G
Strengthening Future Leaders
Through the Management Brenda Charisma G., an alumna of MDP Batch 10 and a graduate of Institut Teknologi
Development Program Bandung, exemplifies the success of this developmental pathway. Over her four-year
tenure with the Lippo Karawaci Group, Brenda has transitioned from an aspiring trainee
The Management Development Program (MDP) is a structured
to her current role as Business Development Section Head at LippoLand.
"
acceleration program for young talent, particularly fresh graduates
and professionals with less than two years of experience. Through
cross-functional job rotations and direct mentorship from senior The MDP Program has significantly shaped my professional growth by providing cross-functional exposure and hands-
management, the program builds a strong leadership pipeline on experience early in my career. It strengthened my adaptability, strategic thinking, and solution-oriented mindset, all of
which support business outcomes. The program has prepared me to take on greater responsibilities, and I am committed to
while reducing reliance on external hiring for strategic roles. Since
continuous growth while contributing to Lippo Karawaci Group’s long-term success.
its inception, MDP has progressed through more than 13 batches,
including business-level programs, and continues to serve as a key
platform for developing future leaders within the Group.
A FOUNDATION IN INTEGRATED
In 2025, eight MDP participants joined the program and are currently
undergoing on-the-job training after completing foundational TALENT MANAGEMENT
exposure across divisions. During the year, we also enhanced the Vanessa Rumindo
MDP framework to elevate program quality, including targeted
campus hiring from leading universities, structured cross-business Vanessa Rumindo, a graduate of Institut Teknologi Bandung and alumna of MDP Batch
rotations, and two years of intensive coaching and mentoring tied 12, has utilized the program to accelerate her trajectory within the Group. In just 1.5 years
to high-impact projects. Supported by clear evaluation milestones of service, Vanessa has moved into a key role as a Talent Management Specialist at Lippo
and performance reviews, the program ensures participants are Indonesia, where she applies a high-level strategic lens to the Group’s human capital.
"
well prepared to assume greater responsibilities. MDP alumni have
consistently made strong contributions across business functions
and regional operations, reflecting the program’s effectiveness in The MDP Program provided me with a holistic understanding of HR and how each function collaborates seamlessly to
support the business. This foundation enables me to design more integrated, data-driven talent initiatives while remaining
developing future-ready leaders.
agile in responding to evolving business needs. The program strengthened my leadership mindset and communication skills,
building my confidence to contribute meaningfully to both people development and business growth within the Group.
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CHAMPIONING Governance & Accountability
BEST PRACTICES Ethics & Compliance
Data Privacy & Security
We constantly strive to uphold the highest standards of corporate governance and
accountability, ensure strict compliance with regulations and company policies, as well
as promote sustainable practices across our value chain.
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Governance & Accountability
CORPORATE GOVERNANCE [OJK E.1 – E.5] [GRI 2-9 to 2-21]
We believe that Good Corporate Governance (GCG) is
the convergence of three essential elements: Corporate General Meeting
of Shareholders
Governance, Risk Governance, and Sustainability Governance.
Effective oversight and management of these three
aspects of governance are critical to achieving stable and
sustainable growth. A crucial element of effective corporate
governance involves the integration of sustainability into our
business strategy and operations. Accomplishing this goal Board of Commissioners Board of Directors
necessitates the establishment of a strong sustainability
governance framework that engages key decision-makers at
all levels of the organization. This engagement should span
vertically, from the Board level down to the operational level,
and horizontally across various business units and corporate
Nomination & Remuneration Whistleblowing
Audit Committee
functions responsible for driving different aspects of Committee Committee
Environmental, Social, and Governance (ESG) considerations.
Our corporate governance structure consists of the General
Meeting of Shareholders (GMS), the Board of Commissioners
(BoC), the Board of Directors (BoD), and their respective
Internal Audit ESG Committee
standing committees, namely the Audit Committee and
the Nomination & Remuneration Committee. This structure
serves to promote responsible business practices and
accountability in decision-making while safeguarding the
interests of shareholders and other stakeholders.
Business Units/
Investor Relations Corporate Secretary
Subsidiaries
This section complemented the Corporate Governance
Report. More information can be found in the
2025 Annual Report.
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COMMITTEE ROLES & RESPONSIBILITIES
Board of Directors & Board of The Board of Directors (BoD) and the Board of Commissioners (BoC) are the highest governing roles in Lippo Karawaci, guiding the Group's strategic
Commissioners direction to ensure alignment material Environmental, Social, and Governance (ESG) issues and the interests of both the business and stakeholders. The BoD
holds ultimate responsibility for the Group's performance, while the BoC serves as a supervisory and advisory body to the BoD. Together, these boards assess
the Group's targets and performance, approving public disclosures, including the Annual Report and the Sustainability Report. The BoD and BoC also review
the effectiveness of the risk management process through approval of our ERM framework.
Audit Committee The Audit Committee (AC) assists the BoC to oversee our financial reporting, monitor and evaluate audit plans and implementation, assess the effectiveness
of our risk management and internal control systems, and supervise our compliance with prevailing regulations and accounting standards, among other
duties. The AC carries out their duties and responsibilities according to their charters. As an additional measure to incorporate sustainability into our
framework, the audit focus includes business interruption and ESG considerations. See our annual report for changes to the audit committee.
Internal Audit Unit The Internal Audit Unit (IAU) supports the AC by monitoring, evaluating, and improving the implementation of internal control, risk management, and
corporate governance processes in line with company policies. The IAU provides objective assurance and independent advice that aims to improve the
operational activities of Lippo Karawaci. The IAU reports directly to the President Director, as well as to the BoC, through the AC. The IAU carries out their
duties and responsibilities according to their charters. Starting from 2023, an ESG Audit has been incorporated into the annual internal audit plan and will be
conducted each year.
Whistleblowing Committee
The Whistleblowing Committee is a dedicated body within the Group that serves as a crucial component of the Group's ethics and compliance framework.
Its primary role is to facilitate and oversee the reporting and investigation of concerns or complaints raised by employees or other stakeholders regarding
potential misconduct, unethical behavior, or violations of company policies.
Nomination & Remuneration Committee The Nomination & Remuneration Committee (NRC) develops and maintains a transparent and formal process for the appointment of new Directors to
the Board and makes recommendations to the Board on a general framework of remuneration. The nomination and selection process for the highest
governance body is based on several parameters. The appointment of the Board of Directors and the Board of Commissioners is carried out through
the mechanism of the General Meeting of Shareholders (GMS), where the nomination process takes into account recommendations from the NRC and
requirements based on the provisions of applicable regulations, such as:
• The Group’s Articles of Association and applicable laws and regulations.
• Personal qualifications of candidates; and
• Knowledge and/or expertise in the sectors needed by the Group.
ESG Committee
The ESG Committee, comprising 3 BoD directors including the Group CEO, is appointed by the BoD to assist in setting the direction for the Group’s ESG
strategy, policies and initiatives. The ESG Committee’s main role is to have oversight on all ESG matters, this includes setting and monitoring ESG targets,
spearheading new ESG initiatives, reviewing ESG disclosures and undertaking any other ESG-related tasks set out by the BoD. The ESG Committee meets at
least four times a year and reports periodically to the BoD and BoC on its activities and recommendations
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SUSTAINABILITY GOVERNANCE In addition, as a follow-up to last year's audit, we standardized data collection through updated ESG Reporting SOPs,
established a formal ESG Data Review Workflow to clarify roles and enhance data governance, and strengthened
We have established a robust sustainability ESG Data Quality Control by mandating source documentation for all data submissions. In addition, we launched
governance structure that provides oversight and continuous ESG training for BU management teams and ESG representatives. We also formalized ESG Steering Group
drives the implementation of environmental, social, Oversight, ensuring regular performance reviews and alignment with the Group’s sustainability strategy.
and governance (ESG) initiatives at all levels of the
organization. Our sustainability governance is led by the ESG Committee Agenda
ESG Committee, overseen by the ESG Steering Group, Aside from reviewing ESG performance and risk management, the ESG Committee also discussed the following
and supported by the Group Sustainability Function. matters in 2025:
Please refer to "Sustainability Governance” on page 23
for an overview of the roles and responsibilities within TOPIC RAISED (SELECT) DISCUSSION & RESOLUTION POINTS
our sustainability governance structure.
ESG Charter & SOPs Updated the ESG Committee Charter to align with LPKR governance. Standardized
data collection via new ESG Reporting SOPs and established a formal Data Review
The ESG Steering Group serves as the primary platform Workflow to improve data quality control.
for translating the Group’s ESG strategy into actionable
initiatives at the BU level. To enhance governance and ISSB Transition (IFRS S1 & S2) Approved a three-year phased roadmap for adopting ISSB standards. This includes
adjusting internal controls and reporting frameworks to meet international
effectiveness, each BU will be appointed a dedicated ESG requirements.
PIC. This aims to improve coordination & accountability
as each PIC takes ownership of their BU’s initiatives and 2030 Sustainability Agenda Revised the 2030 targets following the deconsolidation of Siloam Hospitals in financial
reporting. Resolved to enhance and reset targets for areas where previous goals have
reporting, create a regular feedback loop by formalizing
already been achieved.
a structure and strengthen ESG performance at BU level
by regular monitoring. Energy & Solar PV Regulations Reviewed new Indonesian regulations on energy management and solar PV. Resolved
to accelerate solar adoption and improve energy-saving initiatives across all properties.
In 2025, we focused on strengthening our sustainability
governance by updating our ESG Committee Charter Decarbonization Initiatives Reviewed the ongoing and pipeline decarbonization projects, including discussions
on alternative business models such as pay-per-use and profit-sharing from energy
to reflect the evolving roles and responsibilities of the
savings.
committee, aligning with LK governance, policies, and
ESG priorities. The Charter is periodically reviewed and PROPER Assessment Developed strategies to standardize environmental compliance across all business
evaluated to ensure its relevance. The frequency of units to achieve higher official ratings in Indonesia’s PROPER system.
mandatory committee meetings has been formalized at
twice per year, with the Chairman retaining the authority
Training & Oversight Launched continuous ESG training for management teams and formalized ESG
to convene additional sessions as required. The complete Steering Group Oversight to ensure alignment with the Group's broader strategy.
ESG Charter update is available on our website.
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HOLDING REAL ESTATE
Integrating Sustainability into Corporate Strategy Enhancing ESG Data Governance and Control
Building on our ongoing efforts to strengthen sustainability reporting processes, LPKR has
In 2025, LPKR was honored with the TOP SDGs Award, recognizing our systematic efforts to
developed an internal ESG data management system to support more structured, consistent,
integrate sustainability principles into our business strategies and operations. This signifies
and reliable ESG data collection across the holding company and our subsidiaries. The
progress in aligning priority initiatives with the United Nations Sustainable Development
application consolidates essential ESG indicators, standardizes reporting parameters, and
Goals (SDGs), particularly in the areas of sustainable urban development, energy efficiency,
facilitates internal review and validation, reducing manual handling and improving data
and climate action.
traceability. This development continues the Group’s multi-year strategy to improve ESG
data governance, support management oversight, and strengthen internal controls over
For LPKR, this award serves not merely as an endpoint but as a catalyst for transitioning
sustainability information.
from an initiative-based approach to an outcome-driven sustainability focus, with clearer
targets, improved oversight, and standardized metrics. Moving forward, Lippo will
To further enhance assurance readiness, the Group will progressively integrate the data
strengthen SDG alignment through comprehensive, group-wide frameworks that include
workflows into risk management and internal audit processes, including clearer data
clearer environmental targets tied to climate change and resource efficiency, as well as the
ownership, defined review protocols, and periodic validation of ESG data at the subsidiary
integration of sustainability considerations into investment and development strategies.
and group levels. Going forward, we plan to expand system coverage to additional ESG
In addition, efforts will be made to enhance monitoring and disclosure practices to ensure
indicators, strengthen data quality controls, and align the platform with evolving regulatory
greater consistency and accountability.
and reporting requirements. This platform positions the Group for future external
assurance readiness.
H E A LT H C A R E
Embedding ESG Awareness
f rom Onboarding through Continuous Learning
Siloam Hospitals integrates ESG awareness training into its employee lifecycle, beginning with
ESG orientation for new employees and continuously reinforced through annual refresher
programs for existing employees. The training introduces core sustainability principles, ethical
conduct, patient-centric care, and the Group’s commitments to environmental stewardship,
human rights, and corporate governance. By embedding ESG awareness early and
consistently reinforcing it, Siloam strengthens employee understanding and accountability
in supporting sustainable healthcare services.
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Ethics & Compliance [GRI 2-23, 2-24, 2-27]
CODE OF CONDUCT [GRI 206, 2-23 to 2-24, 2-26 to 2-27]
TYPE OF COMPLIANCE DISCLOSURE CASES
We prioritize sustainability and ethical business practices,
General Non-compliance with laws and regulations resulting in monetary fines 0
ensuring the Group's Code of Conduct remains aligned
with best practices and the latest business conditions.
Non-compliance with laws and regulations resulting in non-monetary sanctions 0
To instil these values, we conduct mandatory annual
training on the code of conduct, company rules, and
Corruption Legal cases regarding corruption and bribery brought against the organization
good corporate governance, requiring all employees or its employees (This does not include any employee/vendor corruption cases that 0
to formally acknowledge their comprehension of were resolved internally)
these provisions. Beyond internal training, we extend
Competition Legal action (pending or completed) regarding anti-competitive behavior and
our ethical standards to our supply chain. In our violations of anti-trust and monopoly legislation in which the Group has been 0
lifestyle segment, specifically within Aryaduta, we identified as a participant
have implemented a vendor registration process that
Social/Economic Non-compliance with any relevant social and economic laws and regulations,
includes collecting work references from other hotels 0
including human rights and labor laws
or entities to conduct thorough reference checks. We
also ensure that health and safety considerations are
Environmental Non-compliance with any relevant environmental laws and regulations 0
emphasized as a fundamental part of preliminary work
during tender clarifications. Within the Lippo Malls unit,
Health & Safety Non-compliance with regulations and/or voluntary codes concerning the health and
0
standard contract clauses have been strengthened to safety impacts of products and services
explicitly require all selected vendors to comply with
local laws and regulations. Data Privacy Cases or substantiated complaints concerning breaches of customer privacy and
0
losses of customer data
As part of our HR policy, we maintain a robust grievance
Legal proceedings associated with data security and privacy 0
mechanism and a publicly accessible whistleblowing
channel to enable employees to report concerns related
Product Info Non-compliance with regulations and/or voluntary codes concerning product and
to human rights or labor rights. This system is managed 0
service information and labelling
through a controlled internal process where reports are
escalated to an authorized function for thorough and Non-compliance with regulations and/or voluntary codes concerning marketing
0
objective investigation. communications, including advertising, promotion, and sponsorship
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To promote a safe environment for voicing concerns, Our commitment to integrity extends to our business our Aryaduta hotels. Within our Lippo Malls business
the Group provides a formal guarantee that all partners, who are required to sign a Vendor Integrity unit, standard contract clauses have been strengthened
reports are handled with strict confidentiality and Pledge and adhere to a zero-tolerance policy toward to explicitly require all selected vendors to comply with
that whistleblowers are protected from any form of corruption. In 2025, units such as Aryaduta and Lippo local laws and regulations.
retaliation. We are pleased to report that in 2025, there Malls communicated anti-corruption policies to 100% of
were no reported incidents of non-compliance with laws their business partners. Lippo Malls further reinforced In an era of heightening geopolitical volatility, we
and regulations regarding human rights or labor rights, these principles by incorporating explicit anti-bribery view Business Continuity Planning (BCP) as a critical
and no cases were received through our whistleblowing clauses and local law compliance requirements into all component of climate-related risk management
channels. Furthermore, no administrative sanctions standard vendor contracts. under the IFRS S2 framework. By prioritizing local
were imposed on the Group or its Boards by any procurement, we stimulate domestic economic growth
relevant authorities, as we remain committed to We maintain a secure Whistleblowing System for while simultaneously reducing Scope 3 upstream
operating without any violations of anti-competitive or reporting concerns related to unethical conduct, human transportation emissions and mitigating project delays
monopoly regulations. rights, or corruption. This system operates under a caused by international bottlenecks. For our Real
controlled process that guarantees confidentiality and Estate segment, we proactively map Tier-1 suppliers
ANTI CORRUPTION [GRI 205] provides an explicit assurance that whistleblowers are for energy-intensive materials like steel and cement
protected from any form of retaliation. We are pleased to to identify vulnerabilities, while our Lifestyle portfolio
Anti-corruption policies have been fundamental to our report that in 2025, there were zero confirmed incidents focuses on building robust local partnerships for facility
Code of Conduct since 2022, ensuring that our operations of corruption involving employees or business partners, management and operational consumables.
remain aligned with the highest ethical standards. and no contracts were terminated or non-renewed due
We perform annual socializations and reviews of these to corruption violations. To increase transparency and accountability, we have
policies, supported by rigorous Maker-Checker-Approver transitioned many of our procurement processes to
procedures to maintain transparency in financial SUSTAINABLE PROCUREMENT POLICY digital SaaS solutions and integrated Google Forms to
expenditures. At Lippo Karawaci, 100% of our operations facilitate efficient communication with vendors. Our
are assessed for corruption-related risks by our Risk and Our policy seeks to enhance governance across the organization is currently strengthening operational
Internal Control Team as part of a comprehensive annual value chain by requiring every supplier to endorse the efficiency through the planned implementation of
risk assessment cycle covering business processes from Supplier Code of Conduct through a signed Statement an end-to-end ERP system and an E-catalog module
Plan to Construct and Procurement to Pay, through of Commitment, which mitigates legal and reputational to streamline capital and operational expenditure
to Information Technology. In 2025, we advanced our risks. To further ensure the credibility of our partners, we management. Furthermore, our healthcare segment
educational reach through our internal training portal, utilize a formal Vendor Visit Form to assess contractors has introduced an online procurement platform that
which delivers mandatory modules on Good Corporate and conduct thorough reference checks, such as improves transparency and accessibility by streamlining
Governance (GCG), whistleblowing, and anti-corruption. verifying previous work history with other entities for the vendor registration process.
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Data Privacy & Security
We prioritize data privacy and security as we expand UU PDP (Indonesian Personal Data Protection Law), PE R SO NAL LY PR OTECTE D
IDE NTIFIABL E HE ALTH
our digital ecosystem and manage increasing volumes ensuring that data collection through platforms like DESCRIPTION
INFO R MATIO N INFO R MATIO N
(PII) O NLY (PHI)
of customer data. Our dedication to safeguarding our LEAP mobile application is governed by approved
privacy is anchored in our Code of Conduct and a data Terms & Conditions and Privacy Policies. As a result of Number of data breaches 0 0
governance framework that encompasses standardized these stringent measures, we are pleased to report Number of customers
0 0
affected
database policies, clear data ownership, and thorough that in 2025, there were zero confirmed data security or
processes for granting and revoking access. We have privacy breaches, with no customers affected by leaks
established a robust security architecture compliant of personally identifiable information (PII) or protected
with both National Institute of Standards and health information (PHI).
Technology (NIST) and Center for Internet Security (CIS)
Strengthening Integrity Through
standards to ensure effective oversight. Our technical Beyond technical controls, we foster a culture of
Fraud Awareness Capacity Building
defenses include Next Generation Firewalls for network IT security awareness through comprehensive
segmentation, Web Application Firewalls (WAF) to filter socialization focused on phishing, Multi-Factor In 2025, LippoLand conducted structured fraud awareness
malicious traffic, and Endpoint Detection and Response Authentication (MFA), and software piracy. In our socialization sessions for employees across multiple
(EDR) for real-time monitoring. Furthermore, we utilize Lifestyle segment, training is reinforced daily subsidiaries and locations, including LPKR, LPCK and
Security Information and Event Management (SIEM) to via the Lippo Malls Academy platform, covering GMTD, as part of its preventive strategy to reinforce ethical
conduct. The sessions were delivered through a series of in-
provide a unified view of our security posture, allowing social engineering and safe browsing, while
person engagements held between May and September
us to detect and investigate threats across our entire IT Aryaduta conducts unit-wide training to prevent
2025 at respective office locations, engaging employees
infrastructure in real-time. unauthorized data access. These educational from key operational functions. The program emphasized
efforts complement our digital transformation the identification of fraud risk indicators, understanding
In response to the evolving digital threat landscape, initiatives—such as the Integrated Sales Portal, internal control mechanisms, and reinforcing the
we proactively perform regular vulnerability scans, the LIA AI-Powered Chatbot, and our online customer utilization of established reporting channels, enabling
employees to recognize and appropriately respond to
penetration testing, and server hardening to remediate self-service portals—which digitize the customer
potential unethical behaviors. Through consistent and
risks before they can be exploited. These efforts lifecycle while maintaining rigorous monitoring and
repeated engagement across entities, LippoLand aims to
are supported by 24/7 Security Managed Services quality control. By embedding privacy into both our strengthen a culture of integrity and contribute to a more
that monitor, detect, and respond to cyber threats technology and our culture, we uphold the highest resilient internal control environment in support of the
continuously. Our commitment to legal compliance standards of security while maintaining the trust and Group’s governance and compliance framework.
is demonstrated by our alignment with the latest confidence of our customers.
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APPENDIX Reporting Methodology
Environmental Data
Climate Scenario Analysis
Content Index
Workforce Data
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Reporting Methodology
GHG EMISSIONS The deconsolidation of Siloam Hospitals from • GHG emissions intensity is calculated by dividing
our operational boundaries in 2025 has triggered the total Scope 1 and 2 emissions by the operational
Lippo Karawaci’s GHG inventory adheres to the World a comprehensive recalibration of our reporting GFA for each building type.
Resources Institute (WRI) and World Business Council boundaries, ensuring our Environmental, Social, and • Operational GFA may change from year to year
for Sustainable Development’s (WBCSD) Greenhouse Economic (ESG) assessments accurately reflect Lippo’s due to the development of new properties,
Gas Protocol Initiative (GHG Protocol) for corporate GHG core portfolio. This systemic change is disclosed across expansion of operations within a built area, and
accounting and reporting. Our reporting boundaries our Annual and Sustainability Reports as a formal shift transfer of ownership and/or operational control.
are based on the operational control approach, which in operational control, with associated emissions now Notable exclusions:
includes assets that are wholly owned or leased by Lippo recategorized in accordance with the GHG Protocol’s » The tenanted areas in our high-rise residential
Karawaci and our subsidiaries, as well as operations divestment guidelines. By adjusting our baseline buildings and malls are excluded from our
for which we have the full authority to introduce and performance to account for this structural transition, we operational GFA, as the emissions from these
implement our operating policies. provide stakeholders with a transparent and comparable areas are classified under Scope 3.
view of our long-term sustainability trajectory and o » There are boundary changes for high-rise
Given that we have set emissions reduction targets, perational efficiency. residential, as we transfer ownership of strata-
we have established accounting rules to account for titled assets such as Kemang Village
changes in emissions to ensure that our emissions Additional Notes » The operational GFA of our hotel portfolio
disclosures remain consistent even as our portfolio • Our reporting scope comprises high-rise residences, excludes leisure properties such as Aryaduta
changes over time. In line with the GHG Protocol, a malls, hotels, and other real estate operations, Country Club and Imperial Klub Golf, which
recalculation shall be performed if any significant including water treatment plants and managed have significantly different profiles in terms
qualitative or quantitative change is made to the data, residential/ commercial/industrial areas within our of energy consumption and operational GFA
inventory boundary and/or methods. We have adopted townships. We have excluded tenanted areas and compared to hotels.
the definition of “significant” as a structural change managed properties for which we do not have » With the exception of high-rise residential
such as a merger, acquisition, or data restatements operational control, such as franchise operations buildings, we do not calculate the operational
exceeding 5% of base year Scope 1 and 2, in alignment and strata-titled assets for which we do not have GFA for our other real estate operations
with common references (WRI/WBCSD 2004). 2019 was a controlling stake. because these operations are not confined
chosen as our baseline year as it most accurately reflects • Energy intensity is calculated by dividing the within built up areas and the intensity
our business as-usual emissions prior to the business total consumption of fuel and electricity by the data cannot be accurately derived based
disruption caused by the COVID-19 pandemic. operational GFA for the following building types: on land area.
high-rise residences, malls, and hotels.
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• Base year emissions and any historic data are not ozone-depleting properties, is considered in Water Withdrawal
recalculated for organic growth or decline. Organic our comprehensive emissions assessment. In addition to the water consumption by our business
growth/decline refers to increases or decreases in » Building on our established reporting rigor, units, we report on water withdrawal by our WTD,
production output, changes in product mix, and we continue to maintain a comprehensive which supports some of our township management
closures and openings of assets that are owned or Scope 1 inventory by tracking R-11, R-22, and operations. As water withdrawal is tied to the demand
controlled by the Group. R-123 refrigerants, ensuring our environmental for treated water, which includes residents, tenants and
• 2025 conversion factors for calculating emissions disclosures remain fully aligned with global other businesses located in our townships (i.e. not only
and energy are from DEFRA (The UK Department climate regulations and the Montreal Protocol. the water consumption for our own business operations),
for Environment Food and Rural Affairs) Although we are progressively phasing out R-22 but we have also clearly separated this water withdrawal
environmental reporting guidelines; GWP (global in accordance with local government policies, data from our water consumption data on page 103.
warming potential) 16
used for calculating emissions we remain committed to the transparent Data collected consists of recorded water withdrawal
from refrigerants are from GHG Protocol and IPCC disclosure of its usage to accurately monitor and production data at the water treatment plant level.
Assessment Report, 2014 (AR5); and province- our transition away from high-Global Warming
specific grid emission factors as published by Potential (GWP) substances. This ongoing Wastewater Discharge
the Ministry of Energy and Mineral Resources of practice allows us to effectively manage our Our wastewater discharge data is inclusive of both our
Indonesia (MEMR). For Scope 2 emissions, a market- decarbonization strategy by data-mapping internal and tenants’ discharge, as we do not currently
based method is adopted to highlight supply equipment upgrades and replacements sub-meter our tenants’ wastewater discharge. This
choices and future renewable energy procurement. across our portfolio. method of reporting is aligned with reporting standards
In addition, we utilize the Inventory of Carbon and and peers. Some assets report data on actual wastewater
Energy (ICE) database to account for embodied WATER & WASTEWATER discharge as recorded by their meters. For those which
carbon in building materials and US EPA (United are unable to disclose metered data, we take the
States Environmental Protection Agency)17 Industry Water Consumption approach of estimating wastewater discharge as 80%
Emission Factors within our Scope 3 emissions. Our water consumption corresponds to the volume of water consumption.
• Refrigerants: of water drawn into our assets or buildings. Our water
» Specifically classified under GRI as Ozone consumption data is consistent with the way our
Depleting Substances (ODS) - are included inventory for energy and GHG emissions is compiled:
within our Scope 1 emissions calculations. the operational control approach. Given the same
This means that the impact of refrigerants on boundaries, we have excluded water consumption
our overall emissions, particularly those with by residents/tenants.
16
GWP (Global-warming potential) is a term used to describe the relative potency, molecule for molecule, of a greenhouse gas, taking account of how long it remains active in the atmosphere.
17
US EPA (United States Environmental Protection Agency) is an independent agency of the United States government tasked to protect human health and the environment.
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WASTE High Consequence Injury
Work-related injury that results in an injury from which
Non-Hazardous Waste the worker cannot, does not, or is not expected to
Our non-hazardous waste data reflects waste collected recover fully to pre-injury health status within six months
from both our business operations and residents/ (exclude fatality).
tenants. We collect data from the third-party vendors
whom we engage to collect and manage non-hazardous Recordable Injury
waste at our assets and townships. Medical Treatment Case (MTC) and Lost Time Injury (LTI)
are jointly classified as Recordable Injury.
Hazardous Waste
Our hazardous waste data only reflects waste collected Total Recordable Injury Frequency Rate
from our business operations. We collect data from the TRIFR = [No. of MTC + LTI] x 1,000,000 / [No. of Manhours].
third-party vendors whom we engage to collect and
manage hazardous waste at our assets and townships. Lost Time Injury Frequency Rate
Tenants that produce hazardous waste (e.g. industrial LTIFR = [No. of LTI] x 1,000,000 / [No. of Manhours].
tenants at Delta Silicon Industrial Park) separately
arrange for hazardous waste collection by their High Consequence Injury Frequency Rate
own vendors. High Consequence Injury Frequency Rate = [No. of High
Consequence Injury] x 1,000,000 / [No. of Manhours].
OCCUPATIONAL HEALTH & SAFETY
Fatality Rate
Medical Treatment Case (MTC) Fatality Rate = [No. of Fatality] x 1,000,000
Work-related injury which requires the treatment / [No. of Manhours].
beyond first aid by, or under the specific order of, a
medical practitioner, but can return to work within 1x24
hours after the incident.
Lost Time Injury (LTI)
Work-related injury which results in an employee being
away from work for more than 1x24 hours after the day
on which the injury occurred.
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Environmental Data
ENERGY CONSUMPTION GHG EMISSIONS
E NE R GY CO NSUM PTI ON (10 3 GJ) 202 3 2024 2025 G HG E MI S S I ON S ( k t CO ₂e ) 202 3 2024 202 5
Electricity 835 874 881 Scope 1
Real Estate 148 141 163 Mobile Combustion 0.70 0.71 0.65
Lifestyle 687 733 718 Real Estate 0.57 0.51 0.49
Lifestyle 0.13 0.21 0.16
Petrol 8.5 8.1 7.3
Stationary Combustion 1.12 1.10 0.95
Real Estate 6.3 6 5.1
Real Estate 0.09 0.06 0.13
Lifestyle 2.2 2.1 2.2
Lifestyle 1.03 1.04 0.82
Biodiesel 10.7 8.4 1.9
Fugitive 10.45 5.67 6.98
Real Estate 3.2 2.1 1.2
Real Estate 0.22 0.03 0.41
Lifestyle 7.5 6.3 0.7
Lifestyle 10.23 5.63 6.57
Diesel 0 0.9 2.5
Scope 2
Real Estate 0 0 1.1
Electricity 188 190 195
Lifestyle 0 0.9 1.4
Real Estate 33 31 37
CNG 1.4 1.5 0.7 Lifestyle 150 159 159
Real Estate 0 0 0 Scope 3
Lifestyle 1.4 1.5 0.7 Purchased Goods & Services 49 62 90
LPG 5.0 4.2 4.3 Fuel & Energy Related Activity - T&D
64 113 77
Electricity Losses
Real Estate 0.4 0.4 0.7
Waste Generated in Operations 23 29 40
Lifestyle 4.6 3.8 3.6
Business Travel - Airplane 0.8 0.7 0.4
Natural Gas 3.9 6.9 6.1 Downstream Leased Asset - Tenanted Area 110 139 140
Real Estate 0 0 0 Use of Sold Product -Managed Fee Building 69 109 137
Lifestyle 3.9 6.9 6.1 Investment 0 0 29.56
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ENERGY INTENSITY BY BUILDING TYPE WATER CONSUMPTION BY BUSINESS SEGMENT
BUILDING ENERGY INTENSITY (GJ/m2) 202 3 2024 2025 WATER CONSUMPTION (103 m³) 202 3 2024 202 5
High-rise Residential 0.16 0.165 0.2 Purchased Water 2,129 2,169 2,444
Malls 0.573 0.615 0.60 Real Estate 465 673 739
Hotels 0.439 0.468 0.41 Lifestyle 1,664 1,496 1,705
Average 0.39 0.42 0.41 Rainwater 708 506 690
Real Estate 588 417 326
GHG EMISSIONS INTENSITY BY BUILDING TYPE Lifestyle 120 89 364
Recycled Wastewater 398 607 574
BUILDING GHG INTENSITY (tCO₂e/m²) 202 3 2024 2025
Real Estate 101 175 186
High-rise Residential 0.036 0.037 0.046
Lifestyle 297 432 388
Malls 0.128 0.138 0.137
Hotels 0.1 0.094 0.095
WATER WITHDRAWAL BY SOURCE
Average 0.088 0.09 0.09
WATER WITHDRAWAL (103 m³) 202 3 2024 202 5
WATER CONSUMPTION INTENSITY BY BUILDING TYPE Recycled Wastewater 716 693 1,080
Rainwater 530 574 509
BUILDING WATER CONSUMPTION INTENSITY
202 3 2024 2025
(m³/m²) Purchased Water 19,327 19,410 18,523
High-rise Residential 0.56 0.97 0.91 Average 0.088 0.09 0.09
Malls 1.44 1.46 1.86
Hotels 2.25 1.92 2.06 WASTEWATER TREATED BY WATER TREATMENT DIVISION
Average 1.417 1.45 1.61
TREATED WASTEWATER (103 m³) 202 3 2024 202 5
Diverted 2,044 2,231 2,780
Discharged 2,167 1,792 1,582
Total 4,211 4,023 4,362
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WASTEWATER GENERATED BY BUSINESS SEGMENT
2023 2024 2025
BUSINESS SEGMENT
(103 m³)
DISCHARGED DIVERTED TOTAL DISCHARGED DIVERTED TOTAL DISCHARGED DIVERTED TOTAL
Real Estate 419 691 1,110 563 643 1,207 470 396 866
Lifestyle 1,175 640 1,815 1,174 776 1,950 1,057 601 1,658
Total 1,594 1,331 2,925 1,737 1,419 3,157 1,527 997 2,524
WASTE MANAGEMENT BY BUSINESS SEGMENT
NON-HAZARDOUS (TONS) HAZARDOUS (TONS)
YEAR BUSINESS SEGMENT
DISPOSED DIVERTED DISPOSED DIVERTED
Real Estate 106,153 786 274 1
2025 Lifestyle 6,328 1,756 7 4
Total 112,481 2,542 281 5
Real Estate 41,491 1,714 592 0
2024 Lifestyle 9,995 1,339 17 5
Total 54,397 3,053 616 5
Real Estate 33,662 1,775 616 0
2023 Lifestyle 7,987 1,202 17 2
Total 41,649 2,977 633 2
Disposed = Incinerated or Landfill
Diverted = Recycled or Composted
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Workforce Data
EMPLOYMENT BY BUSINESS SEGMENT NON-EMPLOYEE WORKER BY BUSINESS SEGMENT
YEAR REAL ESTATE L I F E STYL E TOTA L YEAR R E A L E STAT E LI F E STYLE TOTAL
2025 1,055 2,273 3,328 2025 5,409 8,775 14,184
2024 986 2,076 3,062 2024 6,685 5,544 12,229
2023 981 2,007 2,988 2023 7,076 6,369 13,445
EMPLOYMENT BY EMPLOYEE STATUS EMPLOYMENT BY REGION
YEAR PERM AN ENT EM PLOYE E S CONTRACT E MPLOYE E S B A LI , N US A
BUSINESS
JAVA KA LI M A N TA N S UM AT R A S UL AWE S I TENGGARA ,
SEGMENT
2025 1,764 1,564 M A LUKU, PA PUA
Real Estate 936 0 0 119 0
Real Estate 826 229
Lifestyle 1,602 43 363 104 161
Lifestyle 938 1,335
Total 2,538 43 363 223 161
2024 1,708 1,354
EMPLOYMENT BY EDUCATIONAL QUALIFICATIONS
Real Estate 800 186
HIGH
UN D E R - P O ST-
S CH O O L
Lifestyle 908 1,168 YEAR D I PLO M A G R A D UAT E G R A D UAT E TOTAL
CE RT I F I -
D EG R E E D EG R E E
CAT I O N
2023 1,698 1,290
2025 777 415 1968 168 3328
Real Estate 823 158
2024 750 420 1,820 72 3,062
Lifestyle 875 1,132 2023 689 389 1,765 145 2,988
LOCAL & FOREIGN EMPLOYMENT
EXECUTIVE MANAGER SUPERVISOR STAFF NON-STAFF
BUSINESS SEGMENT
LOCAL FOREIGN LOCAL FOREIGN LOCAL FOREIGN LOCAL FOREIGN LOCAL FOREIGN
Real Estate 7 158 5 353 0 524 0 8 0
Lifestyle 3 1 268 7 459 0 1,396 0 139 0
Total 10 1 426 12 812 0 1,920 0 147 0
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NEW HIRE BY GENDER EMPLOYEE TURNOVER BY GENDER
YEAR FEM ALE MA L E TOTA L YEAR F E M A LE M A LE TOTAL
2025 298 615 905 2025 178 392 570
2024 242 409 687 2024 256 469 725
2023 275 412 651 2023 211 241 452
NEW HIRE BY AGE GROUP EMPLOYEE TURNOVER BY AGE GROUP
YEAR <3 0 3 0-50 >50 TOTAL YEAR <30 30-50 >50 TOTAL
2025 402 487 16 905 2025 165 365 40 570
2024 334 302 15 651 2024 247 411 67 725
2023 356 320 11 687 2023 197 249 6 452
NEW HIRE BY BUSINESS SEGMENT EMPLOYEE TURNOVER BY BUSINESS SEGMENT
YEAR REAL ESTATE L I F E STYL E TOTA L YEAR R E A L E STAT E LI F E STYLE TOTAL
2025 242 663 905 2025 121 449 570
2024 246 405 651 2024 249 476 725
2023 224 463 687 2023 135 317 452
EMPLOYEE BY GENDER EMPLOYEE BY AGE GROUP
YEAR FEM ALE MA L E TOTA L YEAR <30 30-50 >50 TOTAL
2025 1,258 2,070 3,328 2025 996 2146 186 3,328
2024 1,201 1,861 3,062 2024 942 1,912 208 3,062
2023 1,172 1,816 2,988 2023 948 1849 191 2,988
EMPLOYEE POSITION BY GENDER
EXECUTIVE MANAGER SUPERVISOR STAFF NON-STAFF
YEAR
FEMALE MALE TOTAL FEMALE MALE TOTAL FEMALE MALE TOTAL FEMALE MALE TOTAL FEMALE MALE TOTAL
2025 0 11 11 145 293 438 280 532 812 803 1117 1920 30 117 147
2024 1 14 15 145 284 429 264 453 717 772 1,019 1,791 19 91 110
2023 0 18 18 147 281 428 233 454 687 771 974 1,745 21 89 110
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EMPLOYEE POSITION BY AGE GROUP
EXECUTIVE MANAGER SUPERVISOR STAFF NON-STAFF
YEAR
<30 30-50 >50 TOTAL <30 30-50 >50 TOTAL <30 30-50 >50 TOTAL <30 30-50 >50 TOTAL <30 30-50 >50 TOTAL
2025 0 5 6 11 9 362 67 438 109 644 59 812 811 1,062 47 1,920 67 73 7 147
2024 - 6 9 15 8 343 78 429 103 549 65 717 780 961 50 1,791 51 53 6 110
2023 0 6 12 18 7 342 79 428 105 530 52 687 786 916 43 1,745 50 55 5 110
PARENTAL LEAVE
STAFF WHO RETURNED TO WORK AFTER STAFF WHO RETURNED TO WORK AFTER
STAFF ENTITLED TO PARENTAL LEAVE STAFF WHO TOOK PARENTAL LEAVE
BUSINESS PARENTAL LEAVE PARENTAL LEAVE (12 MONTH RETENTION)
SEGMENT
FEMALE MALE FEMALE MALE FEMALE MALE FEMALE MALE
Real Estate 188 462 22 16 20 16 19 15
Lifestyle 391 946 28 28 26 28 29 21
Total 579 1,408 50 44 46 44 48 36
RETURN TO WORK & RETENTION RATES NUMBER OF HOURS WORKED
RETURN TO WORK RATES RETENTION RATES YEAR EMPLOYEES NON-EMPLOYEE WORKERS
BUSINESS
SEGMENT
FEMALE MALE FEMALE MALE 2025 6,656,000 38,520,758
Real Estate 91% 100% 86% 94% 2024 4,408,463 29,850,522
Lifestyle 93% 100% 100% 75% 2023 35,130,984 34,374,426
OCCUPATIONAL HEALTH & SAFETY
2023 2024 2025
OHS METRICS
NON-EMPLOYEE NON-EMPLOYEE NON-EMPLOYEE
EMPLOYEES EMPLOYEES EMPLOYEES
WORKERS WORKERS WORKERS
Fatality 1 1 0 2 0 0
High Consequence Injuries 0 0 0 0 0 1
Number of Recordable Injuries 6 45 5 31 16 26
Lost Time Injuries (LTI) 2 13 4 17 2 14
Medical Treatment Cases (MTC) 4 32 1 14 14 12
Total Recordable Injury Frequency Rate (TRIFR) 1.14 1.51 0.93 1.11 2.4 0.67
Lost Time Injury Frequency Rate (LTIFR) 0.38 0.44 0.74 0.61 0.3 0.36
Fatality Rate 0.03 0.03 0 0.07 0.00 0.00
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Climate Scenario Analysis
As part of our high-level scenario analysis, we examined Landslides
HAZARD & EXPOSURE
TROPICAL CYCLONE
the potential impact of each physical and transition risk Historically, landslides are the third most frequent
COASTAL FLOOD
EARTHQUAKE
RIVER FLOOD
in Indonesia under RCP 2.6 and RCP 8.5 scenarios, based natural hazard in Indonesia18. Heavy torrential rain
NATURAL
TSUNAMI
on 2030 and 2100 time horizons. Our detailed findings or earthquakes may lead to decreased asset values
are below, which we will continue to review and refine. COUNTRY RISK CLASS and result in costly repairs from damage to property,
Very Low- infrastructure and landbank. Climate change is
0-10
Indonesia Very High
PHYSICAL RISK IMPACT Medium 6.7 7.3 8.9 8.3 9.3 1.5 8.1 expected to impact the stability of slopes and bedrock by
Global Average 3.3 3.9 3.7 4.5 2.7 1.6 3.5 influencing precipitation patterns and/or temperature
Extreme variability in weather patterns variations. While landslides have been infrequent
and precipitation patterns Flooding in the past, we anticipate an increase under an
Indonesia ranks higher than the global average in It is predicted that in Indonesia, under a high emissions RCP 8.5 scenario.
terms of natural hazards and exposure on the INFORM scenario, on average 4,215,700 individuals per year may be
Risk Scale. This is primarily attributed to the distinctive impacted by flooding caused by sea level rise by 2100. Our Droughts
characteristics of its landscape and geographical properties may face increased occurrences of flooding Indonesia faces significant water stress and a notable
location which exposes it to various environmental due to high rainfall events experienced in Indonesia. risk of drought, as illustrated in the diagram provided.
challenges. These make it susceptible to extreme As a result, this could cause business interruptions and Prolonged periods of abnormally low rainfall may lead to
weather events, including floods, landslides, and coastal infrastructure damage, leading to higher financial costs. droughts and a shortage of water. This affects our water
flooding. The complex interplay of these geographical Flooding could also potentially endanger the safety of treatment businesses, and also poses significant social
factors enhances the country's vulnerability to natural our stakeholders at our properties. impacts on our stakeholders as disruptions in water
hazards, leading to a higher risk profile compared to supplies can impact their health and safety.
the global average on the INFORM Risk Scale. Changes Extreme waves & coastal abrasion (rising sea levels)
in precipitation patterns, including prolonged rainy Rising sea levels can lead to the erosion of our land bank Heat stress
seasons and the presence of tornadoes or typhoons, and damage/devaluation of properties near coastal We expect an increase in operating costs due
can lead to damage to property and infrastructure, areas, and increased costs from investment in coastal to the heightened demand for cooling systems.
disruption of supply chains, and business interruption. infrastructure adaptation measures. As shown in the As temperatures increase, the need for effective
This results in higher costs incurred, as well as posing figures below, Indonesia is at risk for sea level rise, even in climate control within our facilities becomes more
health and safety risks to our stakeholders. a 2.0°C scenario where light blue areas will be under sea pronounced, resulting in increased energy consumption
level. The location of our properties suggests that only and operational expenses. Moreover, the surge in
a limited number of our developments will experience temperatures could potentially lead to reduced
18
https://climateknowledgeportal.worldbank.org/country/indonesia/vulnerability significant impacts from sea level rise. revenue and productivity within our workforce. The link
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Long-Term Sea Level Outcomes +2.0°C vs. +4.0°C Indonesia Water Risk Indicator19
Drought risk
Low Low-medium Medium Medium-high High
Below tideline after 4.0oC of global warming 2.0oC of global warming (0.0-0.2) (0.2-0.4) (0.4-0.6) (0.6-0.8) (0.8-1.0)
between elevated temperatures and health concerns Greater expectations and demand certification and EDGE certification. It is observed
may contribute to a higher rate of absenteeism among from customers and investors for more that the majority of green building certifications are in
employees. Heat-related illnesses and discomfort may sustainable products and services commercial properties rather than residential properties.
prompt more frequent sick leaves, thereby impacting There is an increasing market trend that reveals Therefore, the present effect of this risk on our real estate
the overall productivity levels of our workforce. customers are increasingly aware of ethical and business is less pronounced, given our emphasis on
sustainable purchasing practices. This shift is driven residential products.
TRANSITION RISK IMPACT by a heightened awareness of environmental and
social concerns, coupled with a preference for making Property-Level Analysis – Physical Risks (2025 Update)
Disruption of new (low emission) technology purchasing decisions that align with values such At the portfolio level, we continue to assess exposure to
Technological advancements can accelerate the shift to as sustainability, social responsibility, and ethical physical climate risks across 113 managed properties,
a low-carbon economy, posing a challenge to businesses production. Failure to meet industry standards and including hotels, offices, townships, malls and hospitals,
relying on outdated fossil-fuel technologies. This may the expectations of stakeholders could result in primarily under the RCP 8.5 scenario to reflect a
lead to additional costs from switching to more energy- weaker demand as well as loss of reputation and conservative stress-testing approach. Each asset is
efficient equipment as well as low-carbon processes investor confidence. evaluated on a location-specific basis, and individual
and materials. With the increasing awareness of green physical risk scores are aggregated into an overall risk
and energy efficient buildings, we need to monitor Since the establishment of the Green Building Council index to support portfolio-level risk visibility.
the emergence of low-emission technologies that may Indonesia (GBCI) in 2009, more properties are pursuing
19
https://www.wri.org/applications/aqueduct/country-rankings/?country=IDN&indica
present decarbonization opportunities for us. voluntary green building certifications such as Greenship tor=drr
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To validate forward-looking projections, historical Aqueduct Global Flood Analyzer and the JRC Global Risk Classification
physical risk events and their operational and financial Flood Map. These models specifically evaluate a 1-in- Extracted flood depths were classified into three tiers:
impacts are periodically reviewed. Recent experience 100-year event (RP100) under the RCP 8.5 high-emission
RISK DEPTH ENGINEERING /
indicates that extreme weather events and flooding scenario, projecting risks out to the year 2080. This dual- LEVEL THRESHOLD OPERATIONAL RATIONALE
remain the most frequent physical risks affecting model approach captures the combined impact of Below standard pavement or curb height
operations. Although landslides and sea level rise riverine flooding, coastal surges, and land subsidence, Low < 0.3 meters (~30cm). Minimal risk of water ingress and
limited infrastructure damage.
events occur less frequently, associated repair and providing a rigorous stress test of the site’s long-term
Water exceeds pavement height. Risk of
remediation costs can be significant when they resilience against extreme weather events. 0.3 – 1.0
Medium ground-floor flooding, vehicle damage and
meters
occur. These findings reinforce the importance of utility disruption.
proactive adaptation measures to enhance asset Spatial Analysis Workflow > 1.0 meters Severe inundation with potential structural
High or historically damage, loss of ground-floor assets and
resilience, manage financial exposure and minimize The analysis was conducted using QGIS and Python-
flooded significant safety risks.
operational disruption. based geospatial libraries following a structured three-
step protocol. To account for potential GPS inaccuracies Limitations and Assumptions
Enhanced Flood Risk and hydrological surroundings, a 100-meter circular • Resolution limitations: Global satellite data may not
Assessment Methodology (2025) buffer was generated around each asset coordinate. fully capture local micro-drainage systems or flood
In 2025, we extended our flood risk analysis by This ensures the assessment captures near-miss flood protection structures.
incorporating additional geospatial parameters and exposure that may impact access roads, utilities, or • Subsidence assumptions: Coastal projections
probabilistic modeling to enhance the robustness of perimeter infrastructure. Buffered asset zones were assume current subsidence trends continue linearly
our asset-level flood exposure assessment. The objective overlaid with multi-source flood raster datasets. Using through 2080.
of this enhanced assessment is to evaluate historical zonal statistics, the maximum flood depth within • Threshold interpretation: “Low” risk does not imply
and projected flood risk exposure for selected high- each buffer was extracted. The maximum depth absence of risk, as localized drainage failures or flash
value assets across Indonesia by integrating satellite within the 100-meter radius represents a “reasonable floods may still occur below the 0.3m threshold.
observations with advanced predictive modeling’s worst-case” scenario for structural integrity and
assessment of flood risk for this area incorporates both operational continuity. Conclusion
historical observations and forward-looking predictive Enhanced flood modelling provides greater precision
modeling to ensure a comprehensive overview of hazard in identifying vulnerable assets and strengthens our
exposure. Historical satellite data provides a factual forward-looking risk assessment capabilities. Combined
baseline, utilizing high-resolution footprints from the with our broader scenario analysis framework, this
Dartmouth Flood Observatory (2003–2004) alongside supports more informed adaptation planning, capital
the Global Flood Database (2004–2020), which tracks allocation decisions and long-term resilience strategy.
maximum inundation extents captured via MODIS The Group will continue refining its climate risk modelling
imagery. To account for future climate variability, the approach to reflect evolving data availability, regulatory
analysis integrates probabilistic modeling from the WRI expectations and climate science developments.
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Content Index
Statement of use Lippo Karawaci has reported in accordance with the GRI Standards for the period 1 Jan 2025 to 31 Dec 2025
GRI 1 used GRI 1: Foundation 2021
Reason for omission Not Applicable, Legal Prohibitions, Confidentiality Constraints, Information Unavailable/Incomplete
REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
GENERAL DISCLOSURES
GRI 2: General Disclosures 2021 2-1 Organizational details 7
2-2 Entities included in the organization’s sustainability reporting 4 PN 7.6 – 711A
2-3 Reporting period, frequency and contact point 4, 6 PN 7.6 – 711A
PN7.6 – 711B.2
2-4 Restatements of information 6
2-5 External assurance 6 PN7.6 – 711B.3
2-6 Activities, value chain and other business relationships 7 - 10 PN7.6 – 4.2
2-7 Employees 79 - 81
2-8 Workers who are not employees 79
2-9 Governance structure and composition 91, 92 PN 7.6 – 3.1
2-10 Nomination and selection of the highest governance body 92
2-11 Chair of the highest governance body 23 PN7.6 – 711B.1a
PN7.6 – 711B.1d
PN7.6 – 3.1
2-12 Role of the highest governance body in overseeing the management of impacts 92
2-13 Delegation of responsibility for managing impacts 23 PN7.6 – 711B.1a
PN7.6 – 711B.1d
PN7.6 – 3.
2-14 Role of the highest governance body in sustainability reporting 23 PN7.6 – 711B.1a
PN7.6 – 711B.1d
PN7.6 – 3.1
2-15 Conflicts of interest 95
2-16 Communication of critical concerns 87
2-17 Collective knowledge of the highest governance body Refer to AR
2-18 Evaluation of the performance of the highest governance body Refer to AR
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REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
2-19 Remuneration policies Refer to AR
2-20 Process to determine remuneration Refer to AR
2-21 Annual total compensation ratio Confidentiality Confidentiality
constraints constraints
2-22 Statement on sustainable development strategy 7, 12,13, 22 - 24, 31 – 41 PN7.6 – 711B.1a
PN7.6 – 711B.1aa
PN7.6 – 711B.1d
PN7.6 – 711B.1e
PN7.6 – 3.1
PN7.6 – 3.2
PN7.6 – 3.3
PN7.6 – 3.5
PN7.6 – 4.1b
PN7.6 – 4.1e
PN7.6 – 4.1f
2-23 Policy commitments 95 – 96 PN7.6 – 4.1a
2-24 Embedding policy commitments 27 – 30, 95, 96 PN7.6 – 711B.1a
PN7.6 – 4.1c
2-25 Processes to remediate negative impacts 13, 34, 39 – 41 PN7.6 – 711B.1AA
PN7.6 – 3.3
2-26 Mechanisms for seeking advice and raising concerns 6, 95, 96
2-27 Compliance with laws and regulations 95, 96
2-28 Membership associations 11
2-29 Approach to stakeholder engagement 25 PN7.6 – 711B.1a
2-30 Collective bargaining agreements 83
MATERIAL TOPICS
GRI 3: Material Topics 2021 3-1 Process to determine material topics 24 PN7.6 – 711B.1a
PN7.6 – 3.1
PN7.6 – 4.1a
PN7.6 – 4.2
3-2 List of material topics 26 PN7.6 – 4.1a
ENHANCING QUALITY OF LIFE
ECONOMIC PERFORMANCE
GRI 3: Material Topics 2021 3-3 Management of material topics 45 PN7.6 – 711B.1a
PN7.6 – 3.1
PN7.6 – 4.1a
PN7.6 – 4.2
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REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
GRI 302: Energy 2016 201-1 Direct economic value generated and distributed 45
201-2 Financial implications and other risks and opportunities due to climate change 33 – 37 PN7.6 – 711B.1aa
PN7.6 – 3.3
201-3 Defined benefit plan obligations and other retirement plans 80
201-4 Financial assistance received from government Not Applicable
CARING FOR OUR ENVIRONMENT
ENERGY
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 60 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
GRI 302: Energy 2016 302-1 Energy consumption within the organization 60, 102, 103
302-2 Energy consumption outside of the organization 60, 102, 103
302-3 Energy intensity 60, 102, 103
303-4 Reduction of energy consumption 65 – 67
303-5 Reductions in energy requirements of products and services 65 – 67
EMISSIONS
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 61 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 61 – 63, 102
305-2 Energy indirect (Scope 2) GHG emissions 61 – 63, 102
305-3 Other indirect (Scope 3) GHG emissions 61 – 63, 102
305-4 GHG emissions intensity 61 – 63, 102
305-5 Reduction of GHG emissions 102, 103
305-6 Emissions of ozone-depleting substances (ODS) 62
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions Not Applicable
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REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
WATER AND EFFLUENTS
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 68 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
GRI 303: Water and Effluents 2018 303-1 Interactions with water as a shared resource 68
303-2 Management of water discharge-related impacts 70, 71, 103
303-3 Water withdrawal 72, 103
303-4 Water discharge 73, 103
303-5 Water consumption 68, 69, 103
WASTE
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 74 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
GRI 306: Waste 2020 306-1 Waste generation and significant waste-related impacts 74
306-2 Management of significant waste-related impacts 74 – 76
306-3 Waste generated 75, 103
306-4 Waste diverted from disposal 74
306-5 Waste diverted to disposal 74
INVESTING IN OUR PEOPLE
EMPLOYMENT & RIGHTS
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 80 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
PN7.6 – 4.3
PN7.6 – 4.5
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REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
GRI 401: Employment 2016 401-1 New employee hires and employee turnover 80, 105
401-2 Benefits provided to full-time employees that are not provided to temporary or part- time 80, 81, 105
employees
401-3 Parental leave 80, 105
GRI 405: Diversity and Equal 405-1 Diversity of governance bodies and employees 82, 105
Opportunity 2016 405-2 Ratio of basic salary and remuneration of women to men Confidentiality Confidentiality
constraints constraints
GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination and corrective actions taken 83
GRI 407: Freedom of Association and 407-1 Operations and suppliers in which workers’ rights to exercise freedom of association or collective 83
Collective Bargaining 2016 bargaining may be violated
GRI 208: Child Labor 2016 408-1 Operations and suppliers at significant risk for incidents of child labor 83
GRI 409: Forced or compulsory labor 409-1 Operations and suppliers considered to have significant risk for incidents of forced or 83
2016 compulsory labor
OCCUPATIONAL HEALTH & SAFETY
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 84 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
PN7.6 – 4.3
PN7.6 – 4.6
GRI 403: Occupational Health and 403-1 Occupational health and safety management system 84
Safety 2018 403-2 Hazard identification, risk assessment, and incident investigation 84
403-3 Occupational health services 84
403-4 Worker participativon, consultation, and communication on occupational health and safety 84, 85
403-5 Worker training on occupational health and safety 84, 85
403-6 Promotion of worker health 84, 85
403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business 84, 85
relationships
403-8 Workers covered by an occupational health and safety management system 84, 85
403-9 Work-related injuries 86, 107
403-10 Work-related ill health 107
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REASONS FOR PAGE NUMBER(S)
GRI STANDARD DISCLOSURE SGX REQUIREMENT
OMISSION AND/OR URL(S)
TRAINING & EDUCATION
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 87 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
PN7.6 – 4.3
GRI 404: Training and Education 404-1 Average hours of training per year per employee 88
2016 404-2 Programs for upgrading employee skills and transition assistance programs 87, 88
404-3 Percentage of employees receiving regular performance and career development reviews 88
CHAMPIONING BEST PRACTICES
ANTI-CORRUPTION
GRI 3: Material Topics 2021 3-3 Management of material topics 26,95 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
PN7.6 – 4.4
GRI 205: Anti-corruption 2016 205-1: Operations assessed for risks related to corruption 95
205-2: Communication and training about anti-corruption policies and procedures 95, 96
205-3: Confirmed incidents of corruption and actions taken 95
ANTI-COMPETITIVE BEHAVIOUR
GRI 3: Material Topics 2021 3-3 Management of material topics 26, 95 PN7.6 – 711B.1b
PN7.6 – 711B.1c
PN7.6 – 4.1a
PN7.6 – 4.1c
PN7.6 – 4.1d
PN7.6 – 4.2
PN7.6 – 4.4
GRI 206: Anti-competitive Behaviour 206-1: Confirmed incidents of anti-competitive behavior and actions taken 95
2016
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UNITED NATIONS GLOBAL COMPACT (UNGC)
PRINCIPLES PAGE REFERENCE / REMARKS
HUMAN RIGHTS
Principle 1 Businesses should support and respect the protection of internationally proclaimed human rights 83, 95, 96
Principle 2 Make sure that they are not complicit in human rights abuses 83, 95, 96
LABOR
Principle 3 Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining 83
Principle 4 Elimination of all forms of forced and compulsory labor 83, 95, 96
Principle 5 Effective abolition of child labor 83, 95, 96
Principle 6 Elimination of discrimination in respect of employment and occupation 82, 83, 95
ENVIRONMENT
Principle 7 Businesses should support a precautionary approach to environmental challenges 37 – 39
Principle 8 Undertake initiatives to promote greater environmental responsibility 40, 41.
Principle 9 Encourage the development and diffusion of environmentally friendly technologies 40, 41, 67
ANTI-CORRUPTION
Principle 10 Businesses should work against corruption in all its forms, including extortion and bribery 95, 97
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SUSTAINABILITY ACCOUNTING STANDARDS BOARD (SASB) – REAL ESTATE SECTOR DISCLOSURE
SASB SUSTAINABILITY PROPERTY PAGE REFERENCE /
SASB CODE ACCOUNTING METRIC
DISCLOSURE SUBSECTOR REMARKS
Energy Management IF-RE-130a.1 Energy consumption data coverage as a percentage of floor area, by property subsector (%) Real Estate 100%
Lifestyle 100%
IF-RE-130a.2 Total energy consumed by portfolio area with data coverage, by property subsector (GJ) Real Estate 163
Lifestyle 718
Total energy consumed by percentage grid electricity, by property subsector (%) Real Estate 93%
Lifestyle 97%
Total energy consumed by percentage renewable, by property subsector (%) Real Estate 0.65%
Lifestyle 0.08%
IF-RE-130a.3 Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property subsector Real Estate 17%
(%) Lifestyle -2%
IF-RE-130a.4 Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property subsector N/A in Indonesia
(%)
Percentage of eligible portfolio that is certified to ENERGY STAR®, by property subsector (%) N/A in Indonesia
IF-RE-130a.5 Description of how building energy management considerations are integrated into property investment analysis and “Energy Initiatives” – Page 67
operational strategy
Water Management IF-RE-140a.1 Water withdrawal data coverage as a percentage of total floor area, by property subsector (%) Real Estate 100%
Lifestyle 100%
Water withdrawal data coverage as a percentage of total floor area, in regions with High or Extremely High Baseline Real Estate 100%
Water Stress20, by property subsector (%) Lifestyle 100%
Total water withdrawn by portfolio area with data coverage, by property subsector (m³) Real Estate 1,613,000
Lifestyle 2,464,000
IF-RE-140a.2 Total water withdrawn by percentage in regions with High or Extremely High Baseline Water Stress20, by property Real Estate 100%
subsector (%) Lifestyle 100%
IF-RE-140a.3 Like-for-like percentage change in water withdrawn for portfolio area with data coverage, by property subsector (%) Real Estate 28%
Lifestyle 22%
IF-RE-140a.4 Description of water management risks and discussion of strategies and practices to mitigate those risks “Optimizing Water Usage” – Page 69
Management of Tenant IF-RE-410a.1 Percentage of new leases that contain a cost recovery clause for resource efficiency related capital Real Estate 0%
Sustainability Impacts improvement, by property subsector (%) Lifestyle 0%
Associated leased floor area, of new leases that contain a cost recovery clause for resource efficiency related capital Real Estate 0%
improvements, by property subsector (sq. ft) Lifestyle 0%
IF-RE-410a.2 Percentage of tenants that are separately metered or sub-metered for grid electricity consumption by property Real Estate 100%
subsector (%) Lifestyle 100%
Percentage of tenants that are separately metered or sub-metered for water withdrawals, by property subsector (%) Real Estate 100%
Lifestyle 100%
IF-RE-410a.3 Discussion of approach to measuring, incentivizing, and improving sustainability impacts of tenants “Scope 3” and “Energy Initiatives” – Page 67
20
We operate in regions within Indonesia which are generally assessed to experience “high” to “extremely high” water stress according to the World Resources Institute’s Aqueduct Water Risk Atlas.
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SASB SUSTAINABILITY PROPERTY PAGE REFERENCE /
SASB CODE ACCOUNTING METRIC
DISCLOSURE SUBSECTOR REMARKS
Climate Change IF-RE-450a.1 Area of properties located in 100-year flood zones, by property subsector “Strategy” – Page 32
and Adaptation IF-RE-450a.2 Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies for “Climate Resilience” – Page 31
mitigating risks
SASB – REAL ESTATE SECTOR DISCLOSURE (ACTIVITY METRICS)
SASB CODE ACTIVITY METRIC PROPERTY SUBSECTOR 2025
IF-RE-000.A Number of assets, by property subsector Real Estate21 28
Lifestyle 43
IF-RE-000.B Leasable floor area, by property subsector (sq. ft) Real Estate22 15,685,730 sq. ft
Lifestyle23 10,800,000 sq. ft
IF-RE-000.C Percentage of indirectly managed assets, by property subsector (%) Real Estate N/A
Lifestyle N/A
IF-RE-000.D Average occupancy rate, by property subsector (%) Real Estate Undisclosed
Lifestyle Undisclosed
21
The Real Estate segment comprises high-rise residential buildings, townships, water treatment plants, and corporate offices. Unlike in the Healthcare and Lifestyle segments where each managed “asset” is a distinct property, our Real Estate segment manages
multiple assets and public/residential/commercial areas within each township. As such, for ease of reporting, we have consolidated multiple assets/areas within each township and classified them as a single “asset”.
22
Based on residential area within the high-rise residential buildings under our scope of reporting.
23
Based on net leasable area within the malls under our scope of reporting.
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WORLD ECONOMIC FORUM (WEF) STAKEHOLDER CAPITALISM METRICS
THEME CORE METRICS AND DISCLOSURES PAGE REFERENCE/REMARKS
PRINCIPAL OF GOVERNANCE
Governing purpose Setting purpose 7
Quality of governing body Governance body composition 20
Stakeholder engagement Material issues impacting stakeholders 23
Ethical behaviour Anti-corruption 96
Protected ethics advice and reporting mechanisms 95, 96
Risk and opportunity oversight Integrating risk and opportunity into business process 95, 96
PROSPERITY
Employment and wealth Absolute number and rate of employment 79 – 83
generation Economic contribution 45
Financial investment contribution 45
Innovation of better products Total R&D expenses 45
and services
Community and social vitality Total tax paid 45
PEOPLE
Dignity and equality Diversity and inclusion 82
Pay equality 82
Wage level 82
Risk for incidents of child, forced or compulsory labor 83
Health and well-being Health and safety 84 – 86
Skills for the future Training provided 87, 88
PLANET
Climate change Greenhouse gas emissions 60
TCFD implementation 31 – 42
Nature loss Land use and ecological sensitivity 74
Freshwater availability Water consumption and withdrawal in water-stressed areas 68
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FINANCIAL SERVICES AUTHORITY OF INDONESIA (OJK) REQUIREMENTS – POJK NO.51/POJK.03/2017
CODE/INDICATOR ACCOUNTING METRIC PAGE REFERENCE/REMARKS
A. SUSTAINABILITY STRATEGY
A.1 Elaboration of Sustainability Strategy 12- 13
B. OVERVIEW OF PERFORMANCE ON SUSTAINABILITY ASPECTS
B.1 1. Economic Aspects, covering at least: 15-16
a. Quantity of products or services sold;
b. Revenue or sales;
c. Net profit or loss;
d. Environmentally friendly products; and
e. Engagement of local stakeholders on sustainable finance business process.
B.2 1. Environmental Aspects, covering at least:
a. Energy consumption;
b. Reduction of Emission produced;
c. Reduction of waste and effluent; and
d. Biodiversity conservation.
B.3 Social Aspect
C. COMPANY PROFILE
C.1 Vision, Mission, and Sustainability Values 7
C.2 Company Address 6
C.3 Business Scale, covering at least: 9, 45, 79
a. Total assets or assets capitalization, and total liabilities
b. Number of employees by gender, position, age, education and employment status
c. Shareholders name and percentage of stock ownership; and
d. Operational areas
C.4 Products, Services, and Business Activities 10
C.5 Membership of Associations 11
C.6 Significant Changes in Issuers and Public Companies 6
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CODE/INDICATOR ACCOUNTING METRIC PAGE REFERENCE/REMARKS
D. ELABORATION OF BOARD OF DIRECTORS
D.1 1. Elaboration of Board of Directors 12, 13
a. Policy to respond to challenges in fulfilling sustainability strategies
b. Implementation of sustainable finance
c. Target achievement strategies
E. SUSTAINABILITY GOVERNANCE
E.1 Person in Charge of Sustainable Finance Implementation 91 – 93
E.2 Competency Development on Sustainable Finance
E.3 Risk Assessment on the Implementation of Sustainable Finance
E.4 Relationship with Stakeholders
E.5 Issues Regarding the Implementation of Sustainable Finance
F. SUSTAINABILITY PERFORMANCE
F.1 Activities to Building a Culture of Sustainability 48
ECONOMIC PERFORMANCE
F.2 Comparison of Production Targets and Performance, Portfolio, Financing or Investment Targets, Revenue and Profit/Loss 45
F.3 Comparison of Portfolio Targets and Performance, Financing or Investment Targets on Financial Instruments or Projects that
Align with Sustainable Finance
ENVIRONMENTAL PERFORMANCE
General Aspect
F.4 Environmental Costs 74
Material Aspect
F.5 Consumption of Environmentally Friendly Materials 74
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CODE/INDICATOR ACCOUNTING METRIC PAGE REFERENCE/REMARKS
Energy Aspect
F.6 The Quantity and Intensity of Energy Consumed 60
F.7 Efforts and Achievements in Energy Efficiency and the Use of Renewable Energy 65 – 67
Water Aspect
F.8 Water Consumption 68
Biodiversity Aspect
F.9 Impacts from Operational Areas Close to or in Conservation Areas or Having Biodiversity The indicator is not relevant
to the organization
F.10 Biodiversity Conservation Efforts The indicator is not relevant
to the organization
Emmisions Aspect
F.11 The Amount and Intensity of Emissions Produced by Type 62
F.12 Efforts and Achievements in Reducing Emission 65 - 67
Waste and Effluent Aspect
F.13 The Amount of Waste and Effluent Produced by Type 73, 74
F.14 Mechanism of Waste and Effluent Management 73 – 75
F.15 Spills that Occur (if any)
Environmental Complaint Aspect
F.16 The Amount and Material of Environmental Complaints Received and Resolved 73
SOCIAL PERFORMANCE
F.17 Commitment to Provide Equal Products and/or Services to Consumers 56
Employment Aspect
F.18 Equal Employment Opportunity 79
F.19 Child Labor and Forced Labor 83
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CODE/INDICATOR ACCOUNTING METRIC PAGE REFERENCE/REMARKS
F.20 Regional Minimum Wage 79
F.21 Safe and Healthy Working Environment 84 – 86
F.22 Employee Training and Development 87 - 88
Community Aspect
F.23 Operational Impacts on Local Communities 48 – 50
F.24 Community Complaints
F.25 Corporate Social Responsibility (CSR)
Responsibility For Sustainable Products/ Services
F.26 Innovation and Development of Sustainable Financial Products/Services 51
F.27 Products/Services that have been Evaluated for Safety for Customers 56
F.28 Products/Service Impacts
F.29 Number of Products Recalled
F.30 Customer Satisfaction Survey of Sustainable Finance and/or Services
G. OTHERS
G.1 Written Verification by an Independent Party (if any) 6
G.2 Feedback Form
G.3 Response to Feedback on the Previous Year's Sustainability Report
G.4 List of Disclosures in Accordance with the Financial Services Authority Regulation Number 51/POJK.03/2017 concerning The Implementation of 120
Sustainable Finance for Financial Services Institutions, Issuers And Public Company
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IFRS S1 GENERAL REQUIREMENTS FOR DISCLOSURE OF SUSTAINABILITY-RELATED FINANCIAL INFORMATION
PAGE NUMBER(S)
IFRS S1 STANDARD DISCLOSURE REASONS FOR OMISSION
AND/OR URL(S)
GOVERNANCE
IFRS S1-27(a) The governance body(s) (which can include a board, committee or equivalent body charged with governance) or individual(s) 31
responsible for oversight of sustainability related risks and opportunities, including information about:
i. How responsibilities for sustainability-related risks and opportunities are reflected in the terms of reference, mandates, role
descriptions and other related policies applicable to that body(s) or individual(s);
ii. How the body(s) or individual(s) determines whether appropriate skills and competencies are available or will be developed to
oversee strategies designed to respond to sustainability-related risks and opportunities
iii. How and how often the body(s) or individual(s) is informed about sustainability related risks and opportunities.
iv. How the body(s) or individual(s) takes into account sustainability-related risks and opportunities when overseeing the entity’s
strategy, its decisions on major transactions and its risk management processes and related policies, including whether the
body(s) or individual(s) has considered trade-offs associated with those risks and opportunities.
v. How the body(s) or individual(s) oversees the setting of targets related to sustainability-related risks and opportunities, and
monitors progress towards those targets, including whether and how related performance metrics are included in remuneration
policies.
IFRS S1-27(b) Management’s role in the governance processes, controls and procedures used to monitor, manage and oversee sustainability- 31
related risks and opportunities, including information about:
i. Whether the role is delegated to a specific management-level position or management-level committee and how oversight is
exercised over that position or committee.
ii. Whether management uses controls and procedures to support the oversight of sustainability-related risks and opportunities
and, if so, how these controls and procedures are integrated with other internal functions.
STRATEGY
SUSTAINABILITY-RELATED RISKS AND OPPORTUNITIES
IFRS S1-30(a) Sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 33 – 34
IFRS S1-30(b) The time horizons—short, medium or long term—over which the effects of each of those sustainability-related risks and Pending ESG
opportunities could reasonably be expected to occur scenario analysis
IFRS S1-30(c) How the entity defines “short term”, “medium term” and “long term” and how these definitions are linked to the planning Pending ESG
horizons used by the entity for strategic decision-making. scenario analysis
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PAGE NUMBER(S)
INDICATOR ACCOUNTING METRIC REASONS FOR OMISSION
AND/OR URL(S)
BUSINESS MODEL AND VALUE CHAIN
IFRS S1-32(a) A description of the current and anticipated effects of sustainability-related risks and opportunities on the entity’s business 33 – 34
model and value chain.
IFRS S1-32(b) A description of where in the entity’s business model and value chain sustainability related risks and opportunities are
concentrated.
STRATEGY AND DECISION-MAKING
IFRS S1-33(a) Sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 37
IFRS S1-33(b) The progress against plans the entity has disclosed in previous reporting periods, including quantitative and qualitative 32
information
IFRS S1-33(c) Trade-offs between sustainability-related risks and opportunities that the entity considered. 37
FINANCIAL POSITION, FINANCIAL PERFORMANCE AND CASH FLOWS
IFRS S1-34(a) The effects of sustainability-related risks and opportunities on the entity’s financial position, financial performance and cash 35 - 37
flows for the reporting period (current financial effects).
IFRS S1-34(b) The anticipated effects of sustainability-related risks and opportunities on the entity’s financial position, financial performance
and cash flows over the short, medium and long term, taking into consideration how sustainability-related risks and
opportunities are included in the entity’s financial planning (anticipated financial effects).
IFRS S1-35(a) Quantitative and qualitative information about how sustainability-related risks and opportunities have affected its financial
position, financial performance and cash flows for the reporting period.
IFRS S1-35(b) Quantitative and qualitative information about the sustainability-related risks and opportunities identified for which there is a
significant risk of a material adjustment within the next annual reporting period to the carrying amounts of assets and liabilities
reported in the related financial statements.
IFRS S1-35(c) Quantitative and qualitative information about how the entity expects its financial position to change over the short, medium
and long term, given its strategy to manage sustainability related risks and opportunities, taking into consideration:
i. Its investment and disposal plans, including plans the entity is not contractually committed to. Confidential
ii. Its planned sources of funding to implement its strategy. Confidential
IFRS S1-35(d) Quantitative and qualitative information about how the entity expects its financial performance and cash flows to change over Confidential
the short, medium and long term, given its strategy to manage sustainability-related risks and opportunities.
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PAGE NUMBER(S)
INDICATOR ACCOUNTING METRIC REASONS FOR OMISSION
AND/OR URL(S)
RESILIENCE
IFRS S1-41 A qualitative and, if applicable, quantitative assessment of the resilience of its strategy and business model in relation to its 37 – 39
sustainability-related risks, including information about how the assessment was carried out and its time horizon.
RISK MANAGEMENT
IFRS S1-44(a) The processes and related policies the entity uses to identify, assess, prioritise and monitor sustainability-related risks, including 37 – 39
information about:
i. The inputs and parameters the entity uses (for example, information about data sources and the scope of operations covered in
the processes).
ii. Whether and how the entity uses scenario analysis to inform its identification of sustainability-related risks.
iii. How the entity assesses the nature, likelihood and magnitude of the effects of those risks (for example, whether the entity 39 – 41
considers qualitative factors, quantitative thresholds or other criteria).
iv. Whether and how the entity prioritises sustainability-related risks relative to other types of risk.
v. How the entity monitors sustainability-related risks.
vi. Whether and how the entity has changed the processes it uses compared with the previous reporting period.
IFRS S1-44(b) The processes the entity uses to identify, assess, prioritise and monitor sustainability-related opportunities.
IFRS S1-44(c) The extent to which, and how, the processes for identifying, assessing, prioritising and monitoring sustainability-related risks and
opportunities are integrated into and inform the entity’s overall risk management process.
METRICS AND TARGETS
IFRS S1-46(a) Metrics required by an applicable IFRS Sustainability Disclosure Standard for each sustainability-related risk and opportunity that 20, 42
could reasonably be expected to affect the entity’s prospects.
IFRS S1-46(b) Metrics the entity uses to measure and monitor that sustainability-related risk or opportunity and its performance in relation
to that sustainability-related risk or opportunity, including progress towards any targets the entity has set, and any targets it is
required to meet by law or regulation.
IFRS S1-51(a) The metric used to set the target and to monitor progress towards reaching the target.
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PAGE NUMBER(S)
INDICATOR ACCOUNTING METRIC REASONS FOR OMISSION
AND/OR URL(S)
IFRS S1-51(b) The specific quantitative or qualitative target the entity has set or is required to meet. 20, 42
IFRS S1-51(c) The period over which the target applies
IFRS S1-51(d) The base period from which progress is measured.
IFRS S1-51(e) Any milestones and interim targets.
IFRS S1-51(f) Performance against each target and an analysis of trends or changes in the entity’s performance.
IFRS S1-51(g) Any revisions to the target and an explanation for those revisions.
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IFRS S2 CLIMATE-RELATED DISCLOSURES
PAGE NUMBER(S)
IFRS S2 STANDARD DISCLOSURE REASONS FOR OMISSION
AND/OR URL(S)
GOVERNANCE
IFRS S2-6(a) The governance body(s) (which can include a board, committee or equivalent body charged with governance) or individual(s) 31
responsible for oversight of climate-related risks and opportunities. Specifically, the entity shall identify that body(s) or
individual(s) and disclose information about:
i. How responsibilities for climate-related risks and opportunities are reflected in the terms of reference, mandates, role 31, 40, 41
descriptions and other related policies applicable to that body(s) or individual(s).
ii. How the body(s) or individual(s) determines whether appropriate skills and competencies are available or will be developed to 31
oversee strategies designed to respond to climate-related risks and opportunities.
iii. How and how often the body(s) or individual(s) is informed about climate-related risks and opportunities. 31
iv. How the body(s) or individual(s) takes into account climate-related risks and opportunities when overseeing the entity’s 31 – 40
strategy, its decisions on major transactions and its risk management processes and related policies, including whether the
body(s) or individual(s) has considered trade-offs associated with those risks and opportunities
v. How the body(s) or individual(s) oversees the setting of targets related to climate-related risks and opportunities, and monitors 31
progress towards those targets, including whether and how related performance metrics are included in remuneration policies.
IFRS S2-6(b) Management’s role in the governance processes, controls and procedures used to monitor, manage and oversee climate-related 31, 32
risks and opportunities, including information about:
i. Whether the role is delegated to a specific management-level position or management-level committee and how oversight is 31
exercised over that position or committee.
ii. Whether management uses controls and procedures to support the oversight of climate-related risks and opportunities and, if 33, 34
so, how these controls and procedures are integrated with other internal functions.
STRATEGY
IFRS S2-9(a) Climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 33,34
IFRS S2-9(b) The current and anticipated effects of those climate-related risks and opportunities on the entity’s business model and value
chain.
IFRS S2-9(c) The effects of those climate-related risks and opportunities on the entity’s strategy and decision-making, including information 40,41
about its climate-related transition plan.
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IFRS S2-9(d) The effects of those climate-related risks and opportunities on the entity’s financial position, financial performance and cash 33, 34
flows for the reporting period, and their anticipated effects on the entity’s financial position, financial performance and cash
flows over the short, medium and long term, taking into consideration how those climate-related risks and opportunities have
been factored into the entity’s financial planning
IFRS S2-9(e) The climate resilience of the entity’s strategy and its business model to climate-related changes, developments and 32
uncertainties, taking into consideration the entity’s identified climate-related risks and opportunities.
CLIMATE-RELATED RISKS AND OPPORTUNITIES
IFRS S2-10(a) Climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects. 33,34
IFRS S2-10(b) For each climate-related risk the entity has identified, whether the entity considers the risk to be a climate-related physical risk
or climate-related transition risk.
IFRS S2-10(c) For each climate-related risk and opportunity the entity has identified, over which time horizons—short, medium or long term— 40,41
the effects of each climate-related risk and opportunity could reasonably be expected to occur.
IFRS S2-10(d) How the entity defines ‘short term’, ‘medium term’ and ‘long term’ and how these definitions are linked to the planning horizons Not Applicable
used by the entity for strategic decision-making. Scenario Analysis
2030 - 2100
BUSINESS MODEL AND VALUE CHAIN
IFRS S2-13(a) A description of the current and anticipated effects of climate-related risks and opportunities on the entity’s business model and 33, 34
value chain.
IFRS S2-13(b) A description of where in the entity’s business model and value chain climate-related risks and opportunities are concentrated.
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STRATEGY AND DECISION-MAKING
IFRS S2-14(a) How the entity has responded to, and plans to respond to, climate-related risks and opportunities in its strategy and decision- 40, 41
making, including how the entity plans to achieve any climate-related targets it has set and any targets it is required to meet by
law or regulation, including the information about:
i. Current and anticipated changes to the entity’s business model, including its resource allocation, to address climate-related
risks and opportunities.
ii. Current and anticipated direct mitigation and adaptation efforts.
iv. Any climate-related transition plan the entity has, including information about key assumptions used in developing its
transition plan, and dependencies on which the entity’s transition plan relies.
v. How the entity plans to achieve any climate-related targets, including any greenhouse gas emissions targets, described.
IFRS S2-14(b) Information about how the entity is resourcing, and plans to resource, the activities disclosed in accordance with 14(a).
IFRS S2-14(c) Quantitative and qualitative information about the progress of plans disclosed in previous reporting periods in accordance with
14(a).
FINANCIAL POSITION, FINANCIAL PERFORMANCE AND CASH FLOWS
IFRS S2-15(a) The effects of climate-related risks and opportunities on the entity’s financial position, financial performance and cash flows for 33,34
the reporting period.
IFRS S2-15(b) The anticipated effects of climate-related risks and opportunities on the entity’s financial position, financial performance and 40,41
cash flows over the short, medium and long term, taking into consideration how climate-related risks and opportunities are
included in the entity’s financial planning.
IFRS S2-16(a) How climate-related risks and opportunities have affected its financial position, financial performance and cash flows for the 33,34
reporting period.
IFRS S2-16(b) The climate-related risks and opportunities identified in for which there is a significant risk of a material adjustment within the Not Applicable
next annual reporting period to the carrying amounts of assets and liabilities reported in the related financial statements.
IFRS S2-16(c) How the entity expects its financial position to change over the short, medium and long term, given its strategy to manage 40,41
climate-related risks and opportunities, taking into consideration:
i. Its investment and disposal plans, including plans the entity is not contractually committed to.
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ii. Its planned sources of funding to implement its strategy. 40,41
IFRS S2-16(d) How the entity expects its financial performance and cash flows to change over the short, medium and long term, given its
strategy to manage climate-related risks and opportunities.
CLIMATE RESILIENCE
IFRS S2-22 (a) The entity’s assessment of its climate resilience as at the reporting date, including: 31
i. The implications, if any, of the entity’s assessment for its strategy and business model, including how the entity would need to 31
respond to the effects identified in the climate-related scenario analysis.
ii. The significant areas of uncertainty considered in the entity’s assessment of its climate resilience. 108 – 110
iii. The entity’s capacity to adjust or adapt its strategy and business model to climate change over the short, medium and long 32
term, including:
1. The availability of, and flexibility in, the entity’s existing financial resources to respond to the effects identified in the climate- -
related scenario analysis, including to address climate-related risks and to take advantage of climate-related opportunities.
2. The entity’s ability to redeploy, repurpose, upgrade or decommission existing assets. -
3. The effect of the entity’s current and planned investments in climate-related mitigation, adaptation and opportunities for -
climate resilience.
IFRS S2-22 (b) How and when the climate-related scenario analysis was carried out, including the information about: 108 – 110
i. The inputs the entity used, including:
1. Which climate-related scenarios the entity used for the analysis and the sources of those scenarios.
2.Whether the analysis included a diverse range of climate-related scenarios.
3. Whether the climate-related scenarios used for the analysis are associated with climate-related transition risks or climate-
related physical risks.
4.Whether the entity used, among its scenarios, a climate-related scenario aligned with the latest international agreement on
climate change.
5. Why the entity decided that its chosen climate-related scenarios are relevant to assessing its resilience to climate-related
changes, developments or uncertainties.
6. The time horizons the entity used in the analysis.
7. What scope of operations the entity used in the analysis.
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ii. The key assumptions the entity made in the analysis, including assumptions about: 108 – 110
1. Climate-related policies in the jurisdictions in which the entity operates. 31
2. Macroeconomic trends.
3. National- or regional-level variables
4. Energy usage and mix.
5. Developments in technology.
iii. The reporting period in which the climate-related scenario analysis was carried out. 108 – 110
RISK MANAGEMENT
IFRS S2-25(a) The processes and related policies the entity uses to identify, assess, prioritise and monitor climate-related risks, including 39
information about:
i. The inputs and parameters the entity uses.
ii. Whether and how the entity uses scenario analysis to inform its identification of climate-related risks.
iii. How the entity assesses the nature, likelihood and magnitude of the effects of those risks.
iv. Whether and how the entity prioritises climate-related risks relative to other types of risk.
v. How the entity monitors climate-related risks.
vi. Whether and how the entity has changed the processes it uses compared with the previous reporting period.
IFRS S2-25(b) The processes the entity uses to identify, assess, prioritise and monitor climate related opportunities, including information
about whether and how the entity uses climate-related scenario analysis to inform its identification of climate-related
opportunities
The extent to which, and how, the processes for identifying, assessing, prioritising and monitoring climate-related risks and
opportunities are integrated into and inform the entity’s overall risk management process.
METRICS AND TARGETS
IFRS S2-29(a) Information relevant to the cross-industry metric categories of greenhouse gases, including:
i. Disclose its absolute gross greenhouse gas emissions generated during the reporting period, expressed as metric tonnes of 102
CO₂ equivalent, classified as:
1. Scope 1 greenhouse gas emissions
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2. Scope 2 greenhouse gas emissions. 102
3. Scope 3 greenhouse gas emissions.
ii. Measure its greenhouse gas emissions in accordance with the Greenhouse Gas Protocol: A Corporate Accounting and 99
Reporting Standard (2004) unless required by a jurisdictional authority or an exchange on which the entity is listed to use a
different method for measuring its greenhouse gas emissions.
iii. The approach used to measure its greenhouse gas emissions, including:
1. The measurement approach, inputs and assumptions the entity uses to measure its greenhouse gas emissions.
2. The reason why the entity has chosen the measurement approach, inputs and assumptions it uses to measure its greenhouse
gas emissions.
3. Any changes the entity made to the measurement approach, inputs and assumptions during the reporting period and the
reasons for those changes.
iv. For Scope 1 and Scope 2 greenhouse gas emissions disclosed in accordance with paragraph 29(a)(i)(1)–(2), disaggregate 61 – 63, 99
emissions between:
1. The consolidated accounting group.
2. Other investees excluded from paragraph 29(a)(iv)(1).
v. Location-based Scope 2 greenhouse gas emissions, and information about any contractual instruments that is necessary to
inform users’ understanding of the entity’s Scope 2 greenhouse gas emissions.
vi. For scope 3 greenhouse gas emissions, disclose:
1. the categories included within the entity’s measure of Scope 3 greenhouse gas emissions, in accordance with the Scope 3
categories described in the Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard (2011).
2. Additional information about the entity’s Category 15 greenhouse gas emissions or those associated with its investments Not Applicable
(financed emissions), if the entity’s activities include asset management, commercial banking or insurance.
Climate-related transition risks—the amount and percentage of assets or business activities vulnerable to climate-related 39
transition risks.
IFRS S2-29(b) Climate-related transition risks—the amount and percentage of assets or business activities vulnerable to climate-related
transition risks.
IFRS S2-29(c) Climate-related physical risks—the amount and percentage of assets or business activities vulnerable to climate-related physical
risks.
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IFRS S2-29(d) Climate-related opportunities—the amount and percentage of assets or business activities aligned with climate-related 39
opportunities.
IFRS S2-29(e) Capital deployment—the amount of capital expenditure, financing or investment deployed towards climate-related risks and Confidential
opportunities.
IFRS S2-29(f) Internal carbon prices—the entity shall disclose: Not Applicable
i. an explanation of whether and how the entity is applying a carbon price in decision-making. Not Applicable
ii. the price for each metric tonne of greenhouse gas emissions the entity uses to assess the costs of its greenhouse gas Not Applicable
emissions.
IFRS S2-29(g) Remuneration, including the information about:
i. a description of whether and how climate-related considerations are factored into executive remuneration. Confidential
ii. the percentage of executive management remuneration recognised in the current period that is linked to climate-related Confidential
considerations.
IFRS S2-33(a) The metric used to set the quantitative and qualitative climate-related targets 60 – 67
IFRS S2-33(b) The objective of the target 65
IFRS S2-33(c) The part of the entity to which the target applies.
IFRS S2-33(d) The period over which the target applies.
IFRS S2-33(e) The base period from which progress is measured. 60
IFRS S2-33(f) Any milestones and interim targets. 20, 60 - 67
IFRS S2-33(g) If the target is quantitative, whether it is an absolute target or an intensity target.
IFRS S2-33(h) How the latest international agreement on climate change, including jurisdictional commitments that arise from that 65
agreement, has informed the target.
IFRS S2-34(a) Whether the target and the methodology for setting the target has been validated by a third party. Not Applicable
IFRS S2-34(b) The entity’s processes for reviewing the target. 60 – 67
IFRS S2-34(c) The metrics used to monitor progress towards reaching the target. 65
IFRS S2-34(d) Any revisions to the target and an explanation for those revisions. 20, 65 – 67
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IFRS S2-35 An entity shall disclose information about its performance against each climate related target and an analysis of trends or 60 – 77
changes in the entity’s performance.
IFRS S2-36(a) Which greenhouse gases are covered by the target. 61
IFRS S2-36(b) Whether Scope 1, Scope 2 or Scope 3 greenhouse gas emissions are covered by the target.
IFRS S2-36(c) Whether the target is a gross greenhouse gas emissions target or net greenhouse gas emissions target. If the entity discloses a
net greenhouse gas emissions target, the entity has been also required to separately disclose its associated gross greenhouse
gas emissions target
IFRS S2-36(d) Whether the target was derived using a sectoral decarbonisation approach. Not Applicable
IFRS S2-36(e) The entity’s planned use of carbon credits to offset greenhouse gas emissions to achieve any net greenhouse gas emissions Not Applicable
target. In explaining its planned use of carbon credits the entity shall disclose information:
i. the extent to which, and how, achieving any net greenhouse gas emissions target relies on the use of carbon credits. Not Applicable
ii. which third-party scheme(s) will verify or certify the carbon credits. Not Applicable
iii. the type of carbon credit, including whether the underlying offset will be nature based or based on technological carbon Not Applicable
removals, and whether the underlying offset is achieved through carbon reduction or removal.
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P T LIPPO K AR AWACI TBK
Menara Matahari, 22nd Floor
Jl. Boulevard Palem Raya No.7, Lippo Karawaci Central, Tangerang, Banten, Indonesia 15811
Tel: +62 21 2566 9000 | Fax: +62 21 2566 9098 | sustainability@lippokarawaci.co.id | www.lippokarawaci.co.id
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PT Gowa Makassar Tourism
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PT Lippo Malls Indonesia
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PT Aryaduta International Management
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Indonesia Stock Exchange
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Financial Services Authority
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PT Siloam International
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PT Gowa Makassar
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Tourism Development Tbk
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Hospitals Tbk
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Directorate General of Taxes
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Ministry of Finance
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PT Lippo
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PT Lippo Cikarang Cikarang Township Gowa Makassar
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Penyelenggara Jaminan Sosial
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Ministry of Creative
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Ministry of Energy and Mineral
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PT IMIZAT IO N
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