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Pertamina NRE Achieves the Third Best ESG Rating in the World
Pertamina New Renewable Energy (Pertamine NRE) has achieved an environmental, social and corporate governance (ESG) rating of 13.0 and has been labeled “low risk” by global ESG rating agency Sustainalytics.
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ertamina New Renewable Energy (Pertamine NRE) has achieved an environmental, social and corporate governance (ESG) rating of 13.0 and has been labeled “low risk” by global ESG rating agency Sustainalytics. This rating shows that Pertamina NRE ranks 3rd globally in the independent power producer (IPP) and Traders sector.
“This is a proud achievement. Pertamina NRE ranks 3rd best for ESG values in the IPP and Traders sector. This achievement shows that Pertamina NRE is committed to implementing ESG principles regarding sustainable company management activities,” explained Pertamina NRE CEO Dannif Danusaputro.
Pertamina NRE is a subholding company of Pertamina that is at the forefront of the energy transition through the development of clean energy. Pertamina NRE's business is directed toward three pillars, which are low carbon solutions, renewable energy and the establishment of new and future businesses.
Pertamina Corporate Communication Vice President Fadjar Djoko Santoso conveyed that the achievements attained by Pertamina NRE are the outcome of strong collaboration between sustainability functions at Pertamina and the subholding company.
Apart from Pertamina NRE, other members of the Pertamina Group that have received ESG ratings from Sustainalytics are Pertamina, with a score of 22.9, PT Kilang Pertamina Internasional, with a 24.2 and PT Pertamina Hulu Energi with 31.2.
“Successful collaboration between the sustainability functions at Pertamina and each subholding company has led Pertamina Group to achieve these four ESG ratings from Sustainalytics,” explained Fadjar.
Sustainalytics is a leading global ESG rating agency that assesses the ESG risk exposure of a company engaged in operational and business activities within specific industries. When conducting ESG rating measurements and assessments, Sustainalytics measures a company's exposure to material ESG risks in specific industries and evaluates how well these risks are managed by the company.
Sustainalytics categorizes ESG scores into five categories based on a company's performance in managing ESG and business risks. Scores ranging from 0 to 10 are classified as “Negligible Risk”, scores from 10 to 20 fall into the “Low Risk” category, scores from 20 to 30 are categorized as “Medium Risk,” scores from 30 to 40 are considered “High Risk” and scores above 40 are placed in the “Severe Risk” category. The smaller the score, the better, as it indicates lower risk values and higher quality ESG management.
As a leading company in the energy transition, Pertamina is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the achievement of the Sustainable Development Goals (SDGs). These efforts are in line with the implementation ESG principles across all of Pertamina's business and operational lines.
