114 Companies Receive 2023 Corporate Emission Transparency Awards

Public News|June 27, 2023

The independent organization Bumi Global Carbon Foundation (BGK Foundation), in collaboration with Investor Magazine from B-Universe, has awarded the 2023 Corporate Emission Transparency Awards. The awards were given to 114 corporations, both listed on the Indonesia Stock Exchange (TBK) and non-public companies.
 
BGK Foundation conducted the assessment based on the companies' public reports. Based on data published in 2022, sustainability reports (SR) were obtained from 114 companies. BGK Foundation then recalculated or validated the accuracy of the data provided in each company's SR.
 
BGK Foundation's assessment followed the GHG Protocol, one of the global standards used by many institutions worldwide to evaluate the progress of corporate emission reduction programs.
 
Founder of Bumi Global Karbon (BGK) Foundation, Achmad Deni Daruri, highlighted two important assessment criteria, which are the success of emission reduction and emission calculations. "The level of corporate success in emission reduction efforts falls into two assessment levels: Green and Green Elite. Green represents the achievement and calculation of greenhouse gas (GHG) emission reduction by a company but without assurance or verification from an independent party. Meanwhile, Green Elite represents the achievement and calculation of GHG emission reduction, GHG calculation, and independent verification," said Deni.
 
BGK Foundation and Investor Magazine also recognized corporations that excelled in emission calculation. There were six levels of assessment for the success of emission calculation. First, Platinum Plus indicated that the calculation of three emission scopes and GHG calculation included in the third-party verification. Second, Platinum indicated the calculation of three emission scopes but without a third-party verification.
 
The third level, Gold Plus, represented the calculation of two emission scopes and GHG calculation included in the third-party verification. The fourth level, Gold, indicated the calculation for two emission scopes but without GHG calculation verification. The fifth level, Silver Plus, was an award given to corporations with one emission scope and GHG calculation included in the third-party verification. The sixth level, Silver, was awarded to corporations with one emission scope and no independent verification for GHG calculation.
 
Out of the 114 companies that received awards from Bumi Global Karbon and Investor Magazine, 17 companies received the Platinum Plus title, 18 companies received the Platinum title, and 6 companies received the Gold Plus title.
 
The majority of the companies, as many as 54 in total, received the Gold award, 3 companies received the Silver Plus title, and 15 others received the Silver award. One company was unable to meet the emission calculation criteria.
 
Regarding the emission reduction, 15 companies received the Green Elite title, and 32 companies were recognized as Green. The rest were deemed to be unable to meet the assessment criteria for emission reduction.
 
Remarkably, 10 corporations managed to achieve the highest awards for both emission reduction and emission calculation. These ten companies earned the Green Elite and Platinum Plus titles.
 
Three of them came from the banking sector: PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank CIMB Niaga Tbk, and Bank Pembangunan Daerah Jawa Barat dan Banten Tbk. Two others were government-owned fertilizer companies: PT Pupuk Indonesia (Persero) and PT Pupuk Kalimantan Timur.
 
Interestingly, four companies from the oil, gas, and mining industries, which are often accused of being major emitters and having the largest carbon footprint, also achieved the awards. They were PT Bukit Asam Tbk, PT Indo Tambangraya Megah Tbk, PT Pertamina (Persero), and its geothermal subsidiary, PT Pertamina Geothermal Energy. Another company that received the Green Elite and Platinum Plus titles was PT Cikarang Listrindo Tbk.
 
Djaka Susila, Editor-in-Chief of Investor Magazine, stated that these awards are part of the efforts to support the government's target of achieving net-zero emissions by 2060 or earlier, in line with the Paris Agreement.
 
Source: Investor.id (English version translated by the Company)