To enhance the competitiveness of the petrochemical industry value chain, Chandra Asri and BRI have officially joined forces to provide financing facility for Chandra Asri's domestic customers. This collaboration in offering financing facility marks the first financing scheme designed specifically by BRI for the national petrochemical industry. Through a symbolic signing, this partnership was formally held in Jakarta on August 29, 2023, by Raymond Budhin, Chandra Asri's Polymer Sales Director; Rully Aryawan, Chandra Asri's Supply Chain Director; and Agus Noorsanto, BRI's Institutional & Wholesale Business Director.
The financing facility is provided to boost wholesale transaction volume while simultaneously supporting Indonesia's focus on enhancing the downstream industry through the optimization of domestic raw material processing. The collaboration between Chandra Asri and BRI also serves as an acknowledgment to the Company's customers who have chosen domestically produced content to support their businesses. This initiative aligns with the Company's commitment to become a growth partner, effectively addressing domestic demand challenges and sustaining Indonesia's downstream industry.
At the 4th Indonesia Public Relations Awards 2023 event, PT Chandra Asri Petrochemical Tbk (Chandra Asri) succeeded in being listed in the 2023 Popular Companies & Institutions Awards. The award was presented by Bram S. Putro, Founder & CEO of The Iconomics, and was directly received by Chrysanthi Tarigan, Corporate Communications General Manager of Chandra Asri.
During this annual communication awards event, The Iconomics assessment team selected hundreds of companies and institutions, including those listed on the Indonesia Stock Exchange (IDX) and those not listed. For companies like Chandra Asri that are listed on the IDX, the jury evaluates them based on liquidity, market value, as well as strong fundamentals and returns. The assessment is reviewed based on the news coverage and tonality of news about the Company in the media.
On Wednesday, 26 July 2023, in commemoration of World Mangrove Day, Chandra Asri held a mangrove planting event together with journalists at the Patikang Lestari Mangrove Edu-Ecotourism Area in Patikang Village, Pandeglang Regency, Banten. Mangrove planting was carried out as an effort to support decarbonization by maximizing blue carbon, or carbon absorbed, stored, and released by coastal and marine ecosystems.
A total of 30 seedlings were planted as a form of concern for the mangrove ecosystem, which is believed a natural fortress for coastal areas. In 2022, Chandra Asri also collaborated with Yayasan Inspirasi Keluarga Kesemat (IKAMAT), an alumni foundation of UNDIP Marine Science, to research the mangrove ecosystem. The research found that this area is home to 33 species of birds, 8 species of mammals, 10 species of reptiles, and 1 species of amphibian. Chandra Asri also helped improve facilities and infrastructure by building a small jetty, 1 educational hut, 1 toilet, 1 multipurpose hut, and a 179-meter-long track that utilized the Company's non-B3 waste in the form of wooden pallets.
![Chandra Asri Shares [Code: TPIA] Entered IDX ESG Leaders Index](files/news/NEWS/2023/Corporate/Ilustrasi - Rating Obligasi PEFINDO 2023.jpg)
Committed to sustainability, Chandra Asri's shares [TPIA] entered the IDX ESG Leaders Index, announced by the Indonesia Stock Exchange (IDX). This index measures the price performance of stocks that have a good Environmental, Social and Governance (ESG) assessment and are also not involved in significant controversy and good financial performance. The IDX ESG Leaders Index is also a guide for investors in choosing stocks that contribute to the economy, environment, and social.
The IDX selected the constituents of the IDX ESG Leaders Index by considering several things, one of which was the ESG risk score from Sustainalytics. In October 2022 Chandra Asri successfully received a “Low Risk” ESG Risk Rating with a score of 17.7. This score also placed Chandra Asri in the top 1 percentile in the Global Commodity Chemicals sub-Industry as assessed by Sustainalytics
Chandra Asri received the Environmental Conservation & Biodiversity achievement at the Padmamitra Award 2022, organized by the Indonesian CSR Forum. This award was handed over directly by the Vice President of the Republic of Indonesia, Prof. Dr. (H.C.) K. H. Ma'ruf Amin. In this event, Chandra Asri proposed 2 (two) excellent programs related to the environment and protection of biodiversity, namely mangrove conservation in the Patikang Lestari Mangrove Edu-Ecotourism Area, Pandeglang, and community empowerment initiatives through plastic waste management, End-To-End Plastic Waste Management.
The two programs adopt the company's Environment, Social, and Governance (ESG) approach, one of which is through the application of a circular economy and the protection of biodiversity to maintain and increase carbon stocks. This award is motivation for the Company to continue contributing to reducing emissions and maintaining the achievement of the “Low Risk” ESG Risk Rating in the top 1% of the commodity chemical sub-industry, as awarded by Morningstar Sustainalytics.
On Tuesday, June 27, 2023, Chandra Asri received two awards at the "2023 Corporate Emissions Transparency Award" event organized by the Bumi Global Karbon Foundation (BGK Foundation), in collaboration with Investor Magazine from B-Universe. This recognition was given to Chandra Asri for its achievements in being included in the list of recipient companies for the "2023 Corporate Emissions Reduction Transparency Award in the Green Category" and the "2023 Corporate Emissions Calculation Transparency Award in the Gold Category".
These two awards were given to Chandra Asri for its accomplishment in reducing emissions and disclosing the calculation of two emission scopes, as reported in the Sustainability Report 2021.
Chandra Asri is committed to always being a trusted growth partner that makes a significant contribution to various stakeholders, including in mitigating climate change. This award has also served as a driving force for the Company to continue improving its communication of sustainability initiatives in a transparent and trustworthy manner.
On Thursday, June 22, 2023, the Secretariat of the Vice President of the Republic of Indonesia visited the waste management program assisted by Chandra Asri in Serdag, Cilegon. The program is called Industri Pengelolaan Sampah Terpadu-Atasi Sampah, Kelola Mandiri (IPST ASARI). This working visit was carried out to fulfill the function of Deputy Policy Support for Economic Development and Competitiveness Increasement. The purpose was to gather data and information regarding the concept of waste management in Cilegon City, covering both upstream and downstream processes.
During the visit, Chandra Asri had the opportunity to explain the concept of end-to-end plastic waste management initiatives. These initiatives involve collecting waste, sorting it according to type, and processing it into beneficial products for society. This community-based waste management initiative consists of the IPST ASARI facility in Cilegon, which is integrated with the SAGARA Program in Anyar. The SAGARA Program aims to empower fishermen in the Anyar Village area. The visit was attended by Secretariat of the Vice President Team, led by Sri Prastiwi Utami, Assistant Deputy for Infrastructure, Energy Security, and Natural Resources, Edi Rivai, Director of Legal, External Affairs & Circular Economy Chandra Asri, and government officials from Purwakarta District and Cilegon.
As a company that prioritizes occupational safety and health, PT Krakatau Daya Listrik (KDL) is committed to following the required regulations for the industry. Due to its success in compliance, on Thursday, June 22, 2023, KDL received appreciation in four categories at the 2023 K3 Awards. The awards received were for Zero Accident achievement, Implementation of Occupational Safety and Health Management Systems (SMK3), HIV/AIDS Prevention and Control Program, and COVID-19 Prevention and Control Program. The Minister of Manpower, Dr. Hj. Ida Fauziyah, M.Sc., personally presented the award to Ari Azhar, KDL's Director of Operations and Business Development.
The Zero Accident award that KDL received acknowledges the Company's accomplishment of achieving 7,120,320 accident-free work hours, equivalent to the period between June 10, 2017, and September 30, 2022. Regarding the SMK3 award, KDL has consistently maintained its previous achievements and obtained a score of 93.37%, along with a Gold Certificate and Flag. Furthermore, KDL was awarded the platinum title for its outstanding achievements in the HIV/AIDS and COVID-19 Prevention and Control programs. This recognition is a result of the assessment of the HIV/AIDS and COVID-19 prevention programs, which scored 92.0 each.
Chandra Asri has signed a memorandum of understanding (MoU) with Ecovance Co. Ltd., a South Korean-based company specializing in biodegradable materials which partly owned by SKC group, to study the potential for strategic collaboration in the biodegradable plastic materials, polybutylene adipate terephthalate (PBAT) and polybutylene succinate (PBS). Through this MoU, both parties agree to focus on application development and customer evaluation, developing partnerships to create a biodegradable plastic ecosystem, and exploring investment opportunities in environmentally friendly materials and solutions.
A study will be conducted to determine the feasibility of biodegradable materials in the Indonesian market by leveraging Chandra Asri's extensive knowledge and experience in polymers and plastics, combined with Ecovance's expertise in biodegradable materials technology. Biodegradable plastic is seen as a green alternative to plastic due to its lower energy consumption and produces less emission. This advantage is in line with Chandra Asri's commitment to supporting Indonesia's Long-Term Strategy for Low Carbon and Climate Resilience 2050 (Indonesia Vision 2050 LTS-LCCR).
PT Chandra Asri Petrochemical Tbk (Chandra Asri Group) announced a significant investment in the energy infrastructure sector through its majority-owned subsidiary, PT. Krakatau Electrical Power (KDL). The investment is divided into 2 tranches with a value of up to US$200 million. With this investment, KDL's share ownership in PT Krakatau Posco Energy (KPE) becomes 45%. KDL will also co-invest in accordance with its equity stake to support KPE’s planned expansion to construct a new 200-megawatt (MW) power plant once the Final Investment Decision (FID) is taken.
The Sales and Purchase Agreement was signed by Nandang Hariana, President Director of KDL and Lee Jeon Hyeok, Senior Executive Vice President of Posco International Corporation. KPE has been well-established since 2011 and supplies electricity to the iron and steel making plant of PT Krakatau Posco (KP), a company led by POSCO in partnership with PT Krakatau Steel (Persero) Tbk, located in the heart of Indonesia’s “Steel City” Cilegon. KPE currently has an existing power plant and supporting infrastructure utilities with capacity of 200 MW that operates using off-gas from KP and is backed by a long-term contractual full offtake agreement that runs until 2038.
