JAKARTA -- PT TIMAH Tbk won the 2023 ESG Disclosure Transparency Awards with the Leadership AA title organized by Investortrust and the Bumi Global Karbon Foundation which was held on Wednesday (29/11/2023) evening.
The 2023 ESG Disclosure Transparency Awards are an appreciation for companies with good performance in implementing the ESG concept and submitting a Sustainability Report (SR).
This is the second year that PT Timah Tbk has won the 2023 ESG Disclosure Transparency Awards, in 2022 PT Timah Tbk won the Management BB title.
According to BGK Foundation Founder, Achmad Deni Daruri, the ranking refers to the disclosure of ESG factors in sustainability reports (SR).
"The assessment is very credible because the BGK Foundation is a member of the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosure (TCFD)," stressed Deni.
He also encouraged the Government to provide incentives for companies that have implemented ESG so that more companies in Indonesia are motivated to implement ESG.
"By implementing ESG, companies have helped the government achieve the Sustainable Development Goals (SDG's) targets. So, it is natural that they are given incentives. "Incentives can be given in the form of tax relief or ease of business licensing," he said.
Deni revealed, that in conducting the assessment, BGK used a methodology based on 33 factors, including leading capital market ESG factors, regulatory studies, international agreements, as well as reporting standards and guidelines that have gone through an independent third-party audit and assurance process.
"Evaluation of ESG disclosure needs to be carried out to measure the extent of ESG transparency that the company has achieved and what steps can be put into practice to increase the achievement of ESG disclosure," he explained.
Chief Editor of investortrust.id, Primus Dorimulu, added that the advantages of ESG disclosure which are the basis for the 2023 ESG Disclosure Transparency Awards assessment include companies becoming more agile and superior in adapting working conditions and being able to answer various needs from ESG rating agencies.
Companies that implement ESG will gain several benefits, such as gaining the trust of investors, banks, and consumers more easily.
No less important, he said, by implementing ESG, companies can maintain the sustainability of companies that also pay attention to environmental and social aspects. So that it can provide mutual benefits.
"Apart from that, companies will increasingly focus on sustainability, be able to survive in rapidly changing political, social, and environmental situations, and become a new legacy amidst economic problems," said Primus Dorimulu.
Chair of the 2023 ESG Disclosure Transparency Awards Jury Team, Prof. Roy Sembel, explained that companies carrying out ESG in the country continue to increase.
“This is a positive development. "ESG must become a common concern and become a movement for all stakeholders in this nation," he said.
Roy Sembel admitted that various studies show that ESG can increase credibility, business performance, and company share prices. However, there are also many studies that state that ESG does not have a direct positive correlation with business performance and company share prices.
"Apart from that, if it becomes a massive movement, ESG can save the earth and future generations," he said.
PT Timah Tbk Corporate Secretary, Abdullah Umar said, PT Timah Tbk is committed to implementing ESG principles in the company's business chain.
PT Timah Tbk together with MIND ID Group are committed to realizing net zero emissions (NZE) through a circular economy approach.
TINS also takes a number of concrete steps in implementing ESG through environmental social responsibility programs. PT Timah Tbk carries out initiatives to carry out sustainable environmental management, empower local communities, and support the economic independence of communities in the company's operational areas.
"PT Timah Tbk is committed to implementing ESG principles. PT Timah Tbk realizes that ESG is an important part of supporting company sustainability," he said. (*)
