JAKARTA, July 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.
|Strong implementation of environmental, social, and governance (ESG) approach by Indonesian state-owned oil and natural gas corporation PT Pertamina this year gained recognition from a number of international institutions. (ANTARA/HO-PT Pertamina)
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…