Dear Valued Stakeholders,

As the global climate agenda accelerates, the need for credible, measurable, and transparent corporate action has never been greater. At TBS Energi Utama, sustainability is no longer a parallel track — it is central to our strategy, operations, and identity. 

In 2024, we proudly reaffirm our commitment to TBS2030 — Towards a Better Society — our roadmap to achieving carbon neutrality and a just transition by the end of this decade. This year’s theme, "Advancing Tomorrow’s Transition," represents not just our ambition, but our tangible progress in aligning with Indonesia’s Net Zero commitment and the UN Sustainable Development Goals​.

Since 2021, we have steadily transitioned from fossil fuels towards sectors that create long-term, low-carbon value: renewable energy, electric mobility, and integrated waste management. Our divestment from coal-fired power generation, once the foundation of our operations, is well underway — with a projected 80% reduction in carbon emissions, or approximately 1.3 million tCO2e annually. This step is not symbolic; it is systemic and strategic​. 

We continue to invest in the future:

• Securing Indonesia’s first blended finance deal in the sustainable transport sector (US$15 million)
• Expanding battery swap stations to 269, supporting over 4,000 electric motorbikes
• Acquiring SembEnviro, a leading waste management company in Singapore, scaling our regional sustainability impact
• Advancing the 46 MWp floating solar power plant through a PPA with PLN Nusantara Power​

At the governance level, our ESG Committee continues to drive oversight and integration, ensuring that our sustainability commitments are embedded across the Group. Internally, we have built a culture where every employee is empowered to contribute to sustainability — whether by reducing emissions, engaging communities, or ensuring workplace safety. Notably, TBS recorded zero fatalities across all sectors in 2024, affirming our people-first approach.

We are proud that our leadership has been recognized across the region, from ACES Awards to EY Entrepreneur Of The Year™, and that we received Gold in CSR and ESG Leadership in Hanoi. Yet we remain aware that sustainability is not a destination — it is a continual journey.

On behalf of the Board of Directors and the Board of Commissioners, we thank our partners, investors, and stakeholders for your trust and collaboration. We invite you to join us in co-creating a resilient, inclusive, and low-carbon future for Indonesia and the region.

Sincerely,
Dicky Yordan – President Director
Bacelius Ruru – President Commissioner​