JAKARTA, Jul 15, 2022 – (ACN Newswire) – Indonesia's oil and gas state-owned enterprise PT Pertamina has encouraged collaboration between countries for energy transition in order to tackle global warming.

"Preventing global warming and climate change is a challenge for all countries in the world, both developed and developing countries, including energy companies and industry parties," the energy company stated in a release, Friday.

Pertamina President Director Nicke Widyawati noted that energy transition is the key to preventing catastrophic impacts of global warming and climate change, but energy transition efforts should not interfere with the unfinished development agenda in some developing countries.

Widyawati brought up this point, considering that the average energy consumption, emission expenditure, and income per capita of developing countries are generally below those of developed countries.

"Therefore, developed countries must support developing countries in the transition to sustainable energy if the world wants to have a chance to meet the global warming (reduction) target," she stated in a dialogue themed "Sustainable Finance for Climate Transition" held in Bali on Thursday (July 14).

She remarked that Pertamina — as an energy SOE — has allocated a capital expenditure (Capex) of 14 percent of its total investment funds to support the implementation of energy transition in Indonesia. The figure is much higher than the average investment of 4.3 percent for renewable energy made by any other world energy company.

"Overcoming climate change is one of Pertamina's Sustainability program strategies, with a target of reducing carbon emissions by 30 percent by 2030, which is above Indonesia's nationally determined contribution (NDC) target," Widyawati noted.

She remarked that from 2010 to 2020, the company had succeeded in reducing 6.8 million metric tons of carbon dioxide equivalents (MmtCO2E), or 27 percent, from 26 percent of the 2010 baseline.

Widyawati — who currently also serves as chair of the B20 Task Force for Energy, Sustainability, and Climate — emphasized that all energy transition efforts must be thoroughly planned in order to ensure energy security and accessibility for the entire community is well-maintained.

Pertamina will accelerate its energy transition efforts towards sustainable energy use as well as ensure a fair and affordable transition and improve energy security, she remarked.

Considering that energy transition requires high technology and costs, Widyawati further said that Pertamina is open to partnerships and collaborations with like-minded parties to encourage innovation and reduce technology costs for the transition effort.

"Pertamina's ambition is to become a leading global energy company with a good reputation and to be recognized as a company that implements the principles of ESG (environmental, social, and governance) in an integrated manner," she stated.

The dialog, held in a hybrid format, was also attended by Indonesian Minister of Finance Sri Mulyani, President Director of state-owned electric power corporation PLN Darmawan Prasojo, President Director of PT Pertamina Geothermal Energy (PGE) Ahmad Yunianto, and Vice President of Jinko Solar Co. Ltd. Dany Qian.

The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 reserved companies and business organizations, and it is among the most prominent Engagement Groups in G20.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JAKARTA, Jul 15, 2022 – (ACN Newswire) – Indonesia's oil and gas state-owned enterprise PT Pertamina has encouraged collaboration between countries for energy transition in order to tackle global warming.

"Preventing global warming and climate change is a challenge for all countries in the world, both developed and developing countries, including energy companies and industry parties," the energy company stated in a release, Friday.

Pertamina President Director Nicke Widyawati noted that energy transition is the key to preventing catastrophic impacts of global warming and climate change, but energy transition efforts should not interfere with the unfinished development agenda in some developing countries.

Widyawati brought up this point, considering that the average energy consumption, emission expenditure, and income per capita of developing countries are generally below those of developed countries.

"Therefore, developed countries must support developing countries in the transition to sustainable energy if the world wants to have a chance to meet the global warming (reduction) target," she stated in a dialogue themed "Sustainable Finance for Climate Transition" held in Bali on Thursday (July 14).

She remarked that Pertamina — as an energy SOE — has allocated a capital expenditure (Capex) of 14 percent of its total investment funds to support the implementation of energy transition in Indonesia. The figure is much higher than the average investment of 4.3 percent for renewable energy made by any other world energy company.

"Overcoming climate change is one of Pertamina's Sustainability program strategies, with a target of reducing carbon emissions by 30 percent by 2030, which is above Indonesia's nationally determined contribution (NDC) target," Widyawati noted.

She remarked that from 2010 to 2020, the company had succeeded in reducing 6.8 million metric tons of carbon dioxide equivalents (MmtCO2E), or 27 percent, from 26 percent of the 2010 baseline.

Widyawati — who currently also serves as chair of the B20 Task Force for Energy, Sustainability, and Climate — emphasized that all energy transition efforts must be thoroughly planned in order to ensure energy security and accessibility for the entire community is well-maintained.

Pertamina will accelerate its energy transition efforts towards sustainable energy use as well as ensure a fair and affordable transition and improve energy security, she remarked.

Considering that energy transition requires high technology and costs, Widyawati further said that Pertamina is open to partnerships and collaborations with like-minded parties to encourage innovation and reduce technology costs for the transition effort.

"Pertamina's ambition is to become a leading global energy company with a good reputation and to be recognized as a company that implements the principles of ESG (environmental, social, and governance) in an integrated manner," she stated.

The dialog, held in a hybrid format, was also attended by Indonesian Minister of Finance Sri Mulyani, President Director of state-owned electric power corporation PLN Darmawan Prasojo, President Director of PT Pertamina Geothermal Energy (PGE) Ahmad Yunianto, and Vice President of Jinko Solar Co. Ltd. Dany Qian.

The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 reserved companies and business organizations, and it is among the most prominent Engagement Groups in G20.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JAKARTA, Jul 13, 2022 – (ACN Newswire) – State-owned oil and natural gas corporation PT Pertamina has gained recognition from several international institutions over its strong implementation of the environmental, social, and governance (ESG) approach this year.

Pertamina's ESG implementation, which is getting stronger, has attracted international interest, as seen from the acknowledgment from a number of institutions and international awards, the company stated in a release received here on Tuesday.

The latest acknowledgment has come from JP Morgan, which included Pertamina in its ESG Emerging Market Bond Instrument (JESG EMBI) Index and assigned it a score of 44.2 in June 2022. The score is higher than the threshold of 20 set by JESG EMBI.

It shows that Pertamina has succeeded in improving its business, especially in terms of environmental insight, sustainability, and aspects of good governance, the company said.

"With this recognition, Pertamina has the opportunity to access wider funding in the market, including more competitive interest rates," it added.

Pertamina's position has also become more recognized globally as a motor that drives sustainability in Indonesia, especially since the country has also committed to implementing the Paris Agreement on reducing carbon emissions.

"In line with Pertamina's vision to become a sustainable global energy company, we continue to improve the company's ESG aspects in accordance with international sustainability practices so that our initiatives are in accordance with ESG standards," said Emma Sri Martini, Pertamina's finance director who is also a committee member of Pertamina Sustainability.

Pertamina has undertaken several measures in its sustainability efforts, including contributing to reducing carbon emissions, maintaining biodiversity, and implementing good corporate governance (GCG).

Further, Pertamina succeeded in reducing 7.4 million tons of carbon equivalent, or around 29 percent, by 2021 from the 2010 baseline.

Meanwhile, to maintain biodiversity, the company, in the past five years, has carried out conservation efforts for around 30 endemic animal species and around 24 plant species, most of which have become nearly extinct.

Regarding the implementation of GCG, Pertamina earlier this year won the Anti-Bribery Management System certification, which signifies the company's commitment to implementing accountable work practices.

Apart from its inclusion on the JP Morgan Index, Pertamina also received a number of awards for sustainability efforts.

In June 2022, Pertamina and its affiliate, Pertamina Hulu Rokan, won the Indonesian Sustainability Business Award (SBA) in the "Highly Recommended" category.

The SBA is given to companies that are considered to have a very strong sustainability commitment and demonstrate consistent efforts in various sustainability areas as well as have a good road map for sustainability implementation.

SBA Indonesia has been instituted by Global Initiatives, an international company based in Singapore that is concerned with sustainability issues. Global Initiatives organizes the award program with some local partners, namely PwC Indonesia, the Indonesian Business Council for Sustainable Development (IBCSD), Control Union, and the Indonesian Chamber of Commerce and Industry (Kadin).

The award is also held in several other countries besides Indonesia, namely Singapore, Malaysia, the Philippines, and Thailand.

Earlier, Pertamina had also received an ESG score of 28.1 from Sustainalytics in 2021, which reflected a moderate level of risk, on par with other companies such as Spanish energy company Repsol and Italian oil industry company ENI.

In addition, the World Benchmarking Alliance (WBA) also placed Pertamina 49th out of 100 oil and gas companies in the WBA Climate & Energy topic.

"We also encourage all Pertamina sub-holdings and affiliates to improve the implementation of ESG aspects, so that the company's operational and business programs can further implement some applicable rules according to ESG best practices," Martini said.

Launched in 2018, the WBA seeks to generate a movement around increasing the private sector's impact on efforts to build a sustainable future for all.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yuni Arisandy Sinaga, Editor: Rahmad Nasution (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JAKARTA, Jul 1, 2022 – (ACN Newswire) – The B20 Energy, Sustainability, and Climate (ESC) Task Force has drafted recommendations and policy actions on global energy transition during the 5th call meeting that was held virtually on June 21, 2022.

According to the Task Force's deputy chair, Agung Wicaksono, the recommendations and policies have been intensively discussed by the members for the last five months, and the drafts mark the end of the journey of the planning process.

"It is truly an honor and privilege for me to convene the last Task Force Call Meeting today, and especially for all members who have been present to share their thoughts and bright ideas and dedicate themselves to the goal solutions of co-financing the global energy sustainability and climate change issues," Wicaksono said in a statement released Wednesday.

On the same day during a side event held in Rome, Italy, Wicaksono also said that the Task Force had worked closely in advancing global cooperation, which is an important element in drafting policy recommendations.

"I believe our Task Force is one of the most anticipated and enthusiastic in this B20 event because up to this date, we have received more than hundreds comments and inputs from all of us. It is not an easy task to incorporate all valuable perspectives and ideas into the policy drafts," he added.

The fifth draft is the result of a meticulous decision to accommodate, integrate, and simplify ideas so that they can be attainable.

"Furthermore, after the last meeting, we have also included the KPIs and SDGs monitoring, as well as the final policy drafts. However, we would like to inform you that this fifth draft cannot be altered substantially," Wicaksono said.

Meanwhile, the Policy Manager of the B20 ESC Task Force Indonesia, Oki Muraza, announced the last three policy recommendations, the first is to increase the global cooperation in accelerating the sustainable energy transition by reducing the intensity of carbon energy use through various channels.

"The main highlights in this recommendation are promoting energy efficiency, creating coal-fired power plants in gradual stages, reducing emissions from sectors that are difficult to reduce, facilitating financing to developing countries, and innovating climate technology," Muraza said.

The second recommendation is to increase global cooperation to ensure a just, orderly, and affordable transition to sustainable energy use in all developed and developing countries.

"(Through) running an orderly transition in primary energy sources, involving the participation of MSMEs in the energy transition, preparing for the transition of the workforce, and implementing sustainable mining practices," he said.

Lastly, the third recommendation is to increase global cooperation to extend the access to consumers and their ability to utilize clean modern energy.

"We must develop integrated energy solutions so that the access to clean energy can be reached to the level of household and MSME, as well as carrying out a broad energy transition," Muraza said.

The all three policy recommendations mentioned will be brought further to the B20-G20 Dialogue in July, and later be included the policy formulation at the G20 Indonesia Presidency 2022.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yashinta Difa Pramudyani, Editor: Fardah Assegaf (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com