PT Bumi Resources Tbk and Their Business Commitment to Prioritizing ESG
As it approaches its 50th anniversary, PT Bumi Resources Tbk (BUMI) secured the top spot among 56 coal firms globally in terms of environmental, social, and governance (ESG) evaluation and rating in June 2022. The ranking was conducted by Refinitiv, the top provider of financial data services in the world.
This was made public with the launching of Bumi Resources’ Human Rights Development Report in 2022, following the completion of Bumi Resources’ Human Rights Due Diligence (HRDD). Chairperson of the Foundation for International Human Rights Reporting Standards (FIHRRST), Mr. Marzuki Darusman, symbolically gave the HRDD report to Adika Nuraga Bakrie, the President and Director of Bumi Resources.
New Accomplishments and Milestones for BUMI’s Golden Anniversary
Bumi Resources’ launching of its HRDD report that supports human rights was also praised by a number of ministries and stakeholders as a commendable accomplishment for the company’s Golden Age, or 50th anniversary. In releasing the report Mr. Bakrie, said that Refinitiv categorizes a score above 75 (fourth quartile) as an indication of a very good ESG performance and a high level of transparency in reporting ESG information to the public.
Based on the rating from Refinitiv and an improvement in the score given by Bloomberg since 2020, Bumi is rated #1 out of 56 mining firms globally. According to Mr. Darusman, BUMI Resources' dedication to human rights is evident from their strong ESG disclosure score of 84 out of 100.
"Indonesia has given birth to a new generation that has launched a company with a new vision relating to concern for human rights," said Mr. Darusman.
"To achieve its vision, BUMI is openly committed to sustainably running its business. BUMI has also developed a sustainability report from 2016 until now, which publishes the success of the ESG practices implemented by BUMI in various aspects of sustainability, such as economic performance, labor practices, compliance, the environment, and society, as well as human rights," Mr. Bakrie said.
"This is a good procedure; ESG provides a good future for the environment, indigenous people, as well as business. Look at this powerful photo. A mining worker says goodbye to work for his children. By carrying out human rights due diligence, we also give hope for the welfare of working families and longevity for his family," said James Kallman, CEO of Moores Rowland Indonesia and co-founder of FIHRRST.
BUMI's dedication to upholding human rights in its day-to-day operations is demonstrated by the publication of its Human Rights Due Diligence Test Report (HRDD) and the award that it received.
Moores Rowland Indonesia Human Rights Journey with FIHRRST
Moores Rowland Indonesia undertook the development of human rights standards with FIHRRST, which is an international non-profit organization founded by key activists of early indicators together with other human rights figures to respect, protect, and fulfill human rights. FIHRRST created the International Business and Human Rights Standard for Certification (BHRISC 2011).
Moores Rowland Indonesia, in collaboration with FIHRRST, offers an auditable standard by which compliance can be certified in the fields of business and human rights. Contact us at contact-Jakarta@moores-rowland.com or contact-Bali@moores-rowland.com to learn more about our services.
**By: Stefani W. Anggraeni — Marketing Communications & Social Media Specialist