JAKARTA PT Pertamina Geothermal Energy Tbk (PGEO) won a GCG (good corporate governance) score of 93,135 with a predicate "very good".
This result is in accordance with the GCG Assessment Performance Study for the 2022 Fiscal Year conducted by PT Sinergy Daya Prima. This achievement shows PGE's strong commitment in carrying out the principles of good corporate governance in a transparent, accountable, responsible, independent, and with integrity.
President Director of PT Pertamina Geothermal Energy Tbk. Ahmad Yuniarto said, "These principles place PGE as a company that is not only strong fundamentally business, but also provides value for the progress of the nation and state."
From the aspect of Information and Transparency Disclosure, PGE received a score of 8.479 (94.21 percent) from a maximum value of 9. Ahmad said the form of this transparency, apart from being shown by the IPO in February, PGE also made an openness in carrying out the process during the decision-making and information disclosure. "This transparency will also be carried out through the GMS which we will schedule on June 5," he said, reading a written statement, Monday, June 5.
Furthermore, from the accountability aspect, Ahmad said that one of them can be seen from the Company's effective management. This effectiveness is shown by positive financial performance in the first quarter of 2023, where PGE posted an increase in net profit of 49.3 percent to Rp715.4 billion, compared to the same period the previous year, which was Rp478.6 billion.
"The ability to record the company's profit is a tangible form of how this company is run effectively and efficiently," said Ahmad.
In terms of accountability and independence, Ahmad said, the efforts made by PGE were proven by the achievement of two gold PROPER awards in 2022 through two operational areas, namely the Kamojang Area and the Ulubelu Area.
According to Ahmad, the PROPER Gold predicate is proof of PGE's commitment to developing geothermal and ensuring the implementation of Environment, Social, and Governance (ESG), all of which are integrated parts of the company's geothermal business.
"Here we show resilience in building an active and collaborative community through the CSR Kang Elie (Kamojang Green Living Ecosystem) program which won the Gold PROPER award for 12 consecutive years since 2011," he said.
Meanwhile, the Ulubelu Area won the Gold PROPER in 2022 as a recognition of PGE's efforts in tackling unfair trading and misuse of protected forests through the CSR Layung Respati program.
However, Ahmad realizes that the challenges in the future PGE will face are still very large. One of them is how to optimize the potential for geothermal in this country to be a source of benefit to all children in the country.
"We are aware of all the challenges that exist. However, with the implementation of GCG principles and continuing to make sustainable improvements, we are confident that we can continue to advance and compete globally," concluded Ahmad.
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