Pertamina Geothermal Energy (PGE), aligned with the Indonesian Government’s commitment to Paris Agreement, has planned to expand its installed capacity from geothermal power plant in order to provide higher contribution to the reduction of greenhouse gas emissions in Indonesia – as a support to achieve the Sustainable Development Goals (SDGs) on climate action by implementing Environmental, Social, and Governance (ESG) based programs.
Describing their view, recently during a discussion at the UN Global Compact on business ambition for climate action held virtually Nelwin Aldriansyah, Chief Financial Officer (CFO), said, “Our expansive plan will help Indonesia to achieve net zero emission target by 2060.” The UN Global Compact is a voluntary initiative based on CEO commitments to implement universal sustainability principles, and take steps to support UN goals.
Pertamina also reiterates the commitment to achieving the SDGs through the implementation of Environmental, Social, and Governance (ESG) based programs in their operational areas. According to Aldriansyah, PGE is planning to issue its own wind green bonds in the first half of next year (2022) beside its holding company – PT. Pertamina’s plan from issuing green bonds in 2022.
“Proceedings of green bonds will be used to refinance our existing conventional loans and also to finance our CAPEX (Capital Expenditure) plan in developing new geothermal projects in Indonesia. We are aiming to have a total installed capacity to 1,500 megawatts by 2030,” he further added.