On the 25th of April 2024, TBS Energi Utama achieved a wonderful milestone by winning Gold at The 16th Annual Global CSR & ESG Summit and Award 2024. This prestigious honour highlights the company's commitment to integrating Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) practices into its business operations, recognizing the company as a global leader in sustainable business practices.
Recognized as the world's longest-running thought leadership platform on sustainability, The Global CSR & ESG Summit and Award is an annual event presented by The Pinnacle Group International dedicated to exploring and celebrating innovative strategies for sustainability. purpose that aligns with the evergrowing sustainability initiatives undertaken by modern-day companies. This year's summit, held in Hanoi, Vietnam, brought together industry leaders, policymakers, and experts of all backgrounds. Together, they explored ideas on how to create lasting change for a better world, while also acknowledging companies that have made a difference with their CSR and ESG practices.
Out of the nine award categories presented at the summit, TBS Energi Utama earned the Gold award in the CSR & ESG Leadership category, specifically for the “USD 1 billion and above market capitalization” company classification. The Gold accolade is the second
highest of the category, right after platinum, and above silver and bronze.
The winning document submitted by TBS Energi Utama, titled "Cultivating a Sustainable Future: TBS's Commitment to CSR and ESG Integration," demonstrated how growth and sustainability go hand in hand within TBS. It detailed TBS’s approach to sustainability and the frameworks it uses to ensure CSR and ESG are present in its business strategy. Efforts made by TBS are outlined through various programs and initiatives that prioritize environmental and social well-being alongside financial success.
Central to TBS is Towards A Better Society 2030, the three-pillar foundation at the core of all TBS CSR and ESG programs. More recently, TBS launched its first green financing framework designed to guide the issuance of green finance instruments, such as green bonds, that will directly support projects aligned with TBS’ sustainability goals. In addition, TBS has embedded ESG considerations into its investment cycle, a policy that has been exemplified in TBS’ latest investments such as in waste management.
However, TBS acknowledges that no initiative or framework can be considered successful without tangible impacts. Apart from its environmentally conscious investments and sustainability-focused transition, community development is also TBS’s strong suit. Through programs that are crafted to create long-term impacts, TBS continuously sets its eyes on strengthening young people, creating economic independence, and building strong, transparent institutions.
One of the standout programs featured in the document is "Bedah Rumah" (House Rehabilitation), which was established in 2019 to improve housing conditions for residents in the Kutai Kartanegara District, East Kalimantan. Since its creation, 169 households havebenefited from this program, both in the form of total house renovations or provision of electricity and clean water access. All workers and building materials for this program are locally sourced, further enhancing its influence on the community.
Another highlighted initiative is the “Banana Farming and Cultivation” program, which encourages residents of Kelurahan Jawa, Kutai Kartanegara District, to make the most of their empty backyards for agricultural purposes. The program focuses on the cultivation of Cavendish bananas, a high-value and low-difficulty crop. Over 227 families have participated in the program, with 1,575 banana trees planted.
Receiving Gold honors from The Global CSR & ESG Summit and Award proves that TBS’s success in establishing environment-targeted investments and executing sustainability actions is certainly not overlooked by industry players worldwide. Now, TBS looks forward to building a sustainable future by continuously strengthening its ESG and CSR initiatives. With its strong TBS2030 framework and award-winning CSR & ESG initiatives, TBS is well-positioned to cultivate a sustainable future for all.