TBS stands proud in its continuous efforts to become Indonesia’s leading company in developing a thriving innovation ecosystem to energize a safe and just world. We fully understand the business imperative of this. Not only is it the right thing to do for the planet and its people, but our transformation also makes simple commercial sense.

TBS2030 – “Towards a Better Society 2030” – acts as a clear, measurable, and transparent roadmap for stakeholders to see our progress. It is the culmination of an organization-wide, collaborative effort involving all levels of employees.

The twelve strategic goals contained in TBS2030 serve as guidance towards achieving carbon neutrality and a fair transition in 2030, as well as supporting the Indonesian Government’s agenda to achieve Net Zero. Each objective is crafted to resonate with the United Nations’ Sustainable Development Goals and Indonesia’s Nationally Determined Contributions, ensuring our trajectory not only aligns with these global benchmarks but also actively contributes to their fulfillment.

A vision of a healthy, safe and sustainable future for business, our employees, our local communities and this planet we live on. We embed sustainability into our company DNA; from the day-to-day decisions we make to the long-term goals we set.

We are pleased to announce the release of our TBS2030 Progress Report, a comprehensive overview of TBS Energi Utama's ongoing commitment to sustainability. This report, designed for our esteemed shareholders, details our strategic advancements and measurable achievements in sustainability up to the year 2030. We invite our shareholders to read this report to gain insights into our sustained efforts and progress in TBS2030.

In 2023, TBS conducted its second materiality assessment using the double materiality approach. While it is still an uncommon practice in the region, this double materiality is a further testament to our sustainability commitments.

This approach was developed in line with the GRI 2021, taking into account the [draft] European Sustainability Reporting Standards (ESRS) 1 General requirements prepared by European Financial Reporting Advisory Group (EFRAG), which supports companies in adapting their strategies to contribute to the UN SDGs.

To keep us headed in the right direction, we have established an independent ESG Committee. The members of the Committee are dedicated to, and responsible for, ensuring the realization of TBS2030. They also monitor global best practices, shifts in national, regional, and international goals, as well as movements across our industry. The ESG Committee is instrumental in assisting the Board of Commissioners in ESG program development and monitoring as well as providing input to the Board of Directors in ESG policy and decision-making to ensure an effective implementation of ESG within the TBS Group.

Daily execution of our TBS vision sits with our team of sustainability professionals. Led by the Senior Vice President of Sustainability, the team’s main duties include developing our sustainability strategy, aligning ESG KPIs with TBS2030, and disseminating them throughout the organization. They are the key part of the business in ensuring all units successfully understand, implement, and report on our sustainability initiatives. In an effort to increase internal engagement, the sustainability team also provides capacity-building, training, and knowledge-sharing sessions for all employees.

There are two approaches to achieve carbon neutrality in 2030:
(i) accelerating the decarbonization of our assets.

(ii) Throughout 2023, we have continued to explore innovative approaches to achieving TBS2030. Notably, these changes incorporate a heightened focus on waste management.

As a testament to our dedication to sustainability, TBS actively initiates comprehensive programs encompassing information dissemination, education, and campaigns targeting both internal employees and external stakeholders.

TBS understands that sustainability and ESG are boardroom imperatives that can elevate the company’s future stewardship role. We want to foster an ecosystem fully across evolving megatrends and open to knowledge sharing. In October 2023, we activated sustainability in the boardroom by conducting a sustainability training for the Board of Directors and Board of Commissioners in Singapore. The goal of this session was to strengthen our ability to respond to sustainability risks and opportunities, as well as equip the Board with the skills to productively contribute to the Company’s sustainability strategy discussions.