Upgrade, MCSI ESG Rating BRI Up From BBB To A

Illustration (Photo: Doc. BRI)

JAKARTA PT Bank Rakyat Indonesia Tbk. (BRI) is said to have succeeded in an increase in the MCSI ESG Rating from BBB in 2021 to A in the 2022 period.

BRI Compliance Director Ahmad Solichin Lutfiyanto said this nick is proof that the company continues to apply the principles of sustainability that are getting stronger, namely Environmental (environmental), Social (social) and Governance (good governance) or ESG.

"We will continue to focus on efforts to carry out green banking activities, eco-efficiency programs, carbon emission management, climate change risk management, increasing financial inclusion, managing human capital, increasing corporate social responsibility, implementing good corporate governance, managing cyber security, "he said in a press statement, Sunday, February 26.

According to Ahmad, the increase in the rating of the MCSI ESG from BBB to A reflects that the company is able to strengthen governance values to continue to be implemented in various business models implemented.

"BRI has developed into a bank that focuses on serving MSME customers, as well as expanding the reach of financial inclusion and financial literacy in Indonesia, through the establishment of Ultra Micro Holding together with Pegadaian and PNM," he said.

In terms of business, the issuer codenamed BBRI shares has distributed credit to sustainable business activities amounting to IDR 694.9 trillion, or equivalent to 67.5 percent of the total credit portfolio.

Meanwhile, ESG-based fund raising measures through the issuance of Sustainability Bond have collected 500 million dollars since 2019.

In addition, last year BBRI issued a Green Bond worth IDR 5 trillion, of which 80 percent of the funds raised were channeled to Environmental Introspective Business Activities (KUBL), and 20 percent were channeled to the social sector.

"As a form of implementation of sustainability governance, BRI has formed an ESG Committee in 2021, which is a forum for the board of directors in monitoring and evaluating the implementation of ESG. We also have a roadmap for information technology and cyber security policies," he concluded.