Turning strategy into action for people, planet, and progress
How We Approach Sustainability
At TBS, sustainability is our foundation. We focus on TBS2030, stakeholder priorities, strong governance, and a culture of sustainability. This guides our decisions in renewable energy, electric mobility, and waste management.
Our Roadmap: TBS2030
Defines clear milestones toward a low-carbon, inclusive future
Our Material Priorities
Focus areas shaped by double materiality assessment and stakeholder input
Our Governance & Oversight
Board and management responsibility ensures transparency and accountability
Our Transformation Journey
Shifting from coal to renewable energy, EV ecosystem, and waste management
Our Material Priorities
In 2023, TBS completed its second materiality assessment using a double materiality approach, reaffirming our commitment to sustainability leadership in the region. This assessment was developed in line with GRI 2021 Standards and informed by the draft European Sustainability Reporting Standards (ESRS), ensuring our strategy contributes meaningfully to the UN Sustainable Development Goals.
1 | Emissions and Climate Opportunities |
1.1 | |
1.2 | Climate Adaptation and Resilience |
1.3 | Air Pollution |
2 | Water Usage |
3 | Waste Disposal |
4 | Land Rehabilitation |
5 | Biodiversity and Valuing Natural Capital |
6 | Local Communities |
7 | Human Rights |
8 | Affordable Clean Power |
9 | Improving Urban Mobility with EV Business |
10 | |
11 | Occupational Health and Safety |
12 | Access to Clean Water |
13 | Governance |
14 | Value Chain Management |
15 | |
16 | Data Privacy |
17 | Capital Risks and Opportunities |
17.1 | Trust and Reputation Risks |
17.2 | ESG Disclosures and Mandates as Risk |
17.3 | Transition Financing |
18 | Business Model Transition and Innovation |
18.1 | Waste Management |
18.2 | Electric Vehicles |
18.3 | Waste-to-Energy |
18.4 | Green Hydrogen |
18.5 | Land-based Nature-based Solutions |
19 |
Top Materiality Topics by Concern Zone
Sustainability Zone
10
Workforce Competency
Workforce Competency is vital for TBS due to the opportunities it offers. TBS will enhance skills to support ESG initiatives and boost corporate value.
Priority Zone
1.1
Greenhouse Gas (GHG) Emissions
GHG emissions are a priority for TBS due to the energy sector's contribution to fossil fuel emissions. TBS will enhance monitoring and strategies to reduce emissions.
Maintaining Zone
15
Geopolitics
Incorporating ESG criteria into TBS's governance is crucial for resilience against geopolitical factors. TBS will implement risk management strategies and monitor geopolitical issues
Business Zone
19
Economic Performance
TBS will generate economic value for stakeholders, contributing to local economies through procurement, employment, and infrastructure investments.
Our Governance, Culture & Oversight
To ensure sustainability is embedded at every level, TBS has established an independent ESG Committee and actively builds a culture of awareness and accountability.
- ESG Committee: Supports the Board of Commissioners and Directors by guiding ESG policy, monitoring best practices, and aligning with national and international goals to ensure effective implementation of TBS2030.
- Culture of Sustainability: We foster knowledge-sharing and education across employees and leadership, including a 2023 sustainability training in Singapore for the Board of Commissioners and Directors to strengthen readiness in addressing ESG risks and opportunities.
Our ESG Committee
Yasmin Wirjawan
Chairwoman
Yasmin Wirjawan boasts extensive experience as an educator and former minister, covering fields from economics to urban planning. She served as the Minister of Research & Technology from 2019 to 2021, Minister of National Development Planning/Head of Bappenas from 2016 to 2019, and Minister of Finance from 2014 to 2016. Academically, she was the Dean of the Faculty of Economics at the University of Indonesia from 2005 to 2009.
Yasmin earned her Bachelor of Economics from the University of Indonesia in 1990, followed by a Master of Urban Planning in 1993 and a Ph.D. in Urban & Regional Planning in 1997 from the University of Illinois Urbana-Champaign, USA. She was appointed as an Independent Commissioner at TBS Energi Utama on June 17, 2021, and has been serving as the Chairwoman of the ESG Committee since March 7, 2023.
Judy Lee
Member
Judy is a New York-based risk management expert with over 30 years of experience. As an Independent Committee, she offers external perspectives from other markets around the world. She previously served as the Board of Director for Solar Frontier, a solar energy company committed to make the most economical solar solutions for the world’s largest solar projects. It’s a subsidiary of Showa Shell Sekiyu, part of the Royal Dutch Shell Group.
In 2021, Judy was also appointed to the Board of Directors of DBS Group Holdings Ltd and DBS Bank Ltd., where she serves as a member of each of the Audit Committee, the Board Risk Management Committee, the Compensation and Management Development Committee and the Board Sustainability Committee. She also Chairs the Board Sustainability Committee for SMRT Corporation.
Triana Krisandini
Member
Triana holds a Bachelor of Science - Business Administration in Finance from the University of Oregon, New York, USA (2011) and a Master of International Affairs - International Finance and Economy Policy from Columbia University, Oregon, USA (2015).
Triana has more than 10 years of experience as a corporate sustainability professional across the forestry and mining sectors. She was the Assistant Director of Sustainability at APRIL Group (2017-2021), before joining TBS Energi Utama in December 2021 as SVP Sustainability. Her expertise sits at the intersection of government, financial services, philanthropy, and corporations
The Sustainability Division plays a key role by:
- Shaping strategy: Developing and aligning our sustainability direction with TBS2030 and ESG KPIs.
- Embedding practices: Ensuring all business units understand, implement, and report on sustainability initiatives.
- Building capacity: Providing training, knowledge-sharing, and engagement programs for employees to strengthen ESG culture.
Our Transformation Journey
TBS is undergoing a bold transformation to ensure long-term sustainability and resilience. We are gradually divesting from coal and reinvesting in future-forward businesses that accelerate the energy transition. This journey positions us as an active driver of Indonesia’s low-carbon economy while creating shared value for communities, partners, and stakeholders.
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.
Waste Management
TBS is steadily advancing beyond the traditional energy sector. Demonstrating a firm commitment to solving contemporary environmental challenges, TBS has not only ventured into, but is now transforming, the waste management landscape.
Electric Vehicle
TBS is building an electric motorcycle ecosystem as part of its entire value chain transformation.
Renewable Energy
Transitioning away from legacy activities has enabled TBS to invest more into the renewable energy sector, helping to diversify and decarbonize our entire business.
