Jakarta, December 16, 2025 – The Foundation for International Human Rights Reporting Standards (FIHRRST), in partnership with Moores Rowland Indonesia (MRI) and supported by the Walk Free Foundation and BPJS Ketenagakerjaan, launched its sixth annual comprehensive study on the 2024 Sustainability Reports of Indonesian companies listed on the Indonesia Stock Exchange (IDX).
The event opened with remarks from Makarim Wibisono, Co-Founder of FIHRRST and Expert Advisor to the Ministry of Human Rights, and featured keynote speeches by Risa E. Rustam, Director of Finance and Human Resources at the IDX, and Charlotte Gwynn, Business and Human Rights Advisor at the Walk Free Foundation. In his remarks, Makarim emphasized that sustainability reporting strengthens transparency, governance, and accountability, encourages corporate responsibility, and advances respect for human rights through integrated policies and effective remediation mechanisms. Rustam highlighted the Study’s role in supporting POJK No. 51 implementation and advancing ESG governance aligned with the RPJMN, while Gwynn stressed the importance for businesses to proactively identify, prevent, and address modern slavery risks across their operations and value chains.
Study Presentation and Results
Marseli Chris, Programme Coordinator of Sustainability presented the results of the study and methodology, focusing on the sustainability performance of listed companies based on POJK 51/2017, GRI, IFRS S1 & S2, and IDX ESG Metrics. She also explained about the key thematic trends, including good governance and ethical business conduct, respect for human rights throughout the business value chain, and disclosure of climate-related risks and opportunities, while offering strategic recommendations for enhancing transparency, accountability, and sustainable competitiveness nationally and globally.
Panel Discussions
The first session, “How Strong Governance Mitigates Corruption Risks,” moderated by Ratih Ananda Putri Goestoro, featured Almas Sjafrina (Indonesia Corruption Watch), Ferdian Yazid (Transparency International Indonesia), and Amien Sunaryadi (Kamwasjak, Ministry of Finance). The discussion highlighted the importance of conflict-of-interest management, revolving-door policies, codes of ethics, and secure whistleblowing mechanisms, noting corruption as a systemic challenge requiring collective integrity to address effectively.
The second panel, “Indonesia’s Sustainability Disclosure Standards & Business and Human Rights Regulation,” moderated by Unang Mulkhan, included Sofia Alatas (Ministry of Law and Human Rights), Ersa Tri Wahyuni (Institut Akuntan Manajemen Indonesia), and Lany Harijanti (APINDO). Panelists emphasized linking sustainability and human rights with financial performance, highlighted adoption of IFRS Sustainability Disclosure Standards, and discussed challenges such as overlapping regulations, rising compliance costs, and readiness among MSMEs. The need for phased implementation, multi-stakeholder coordination, and clear corporate guidance was underscored.
The final panel, “Best Practices in Sustainability Reporting: Good Governance Practices,” moderated by Dendi Trisnadi, featured speakers from PT Elang Mahkota Teknologi Tbk, PT Bank Permata Tbk, PT Medco Energi Internasional Tbk, and PT Indo Tambangraya Megah Tbk. Discussions highlighted the role of strong leadership, governance structures, and corporate culture in effective sustainability reporting, alongside initiatives such as ESG committees, anti-bribery certification, risk assessments, supply chain due diligence, whistleblowing mechanisms, and ethics awareness programs. Panelists also acknowledged challenges like uneven awareness, complex regulations, evolving bribery risks, and maintaining integrity across diverse operations.
Awards Ceremony
The event concluded with an awards ceremony recognizing companies with exceptional sustainability reports for 2024. 16 companies received A+ scores, and 32 earned an A, demonstrating their commitment to transparency, accountability, and sustainable business practices. The awards recognize clear strategic vision, measurable impact, and continuous improvement in ESG performance.
Closing Remarks
James Kallman, CEO of Moores Rowland Indonesia, concluded that the findings go beyond statistics, serving as a reminder of the work ahead. Leaders, regulators, and advocates must translate these insights into concrete actions. He also highlighted the roles of the Walk Free Foundation in combating forced labor and BPJS Ketenagakerjaan in promoting and protecting workers’ rights, demonstrating how materiality-driven reporting can foster meaningful and lasting social change.
Access the published study via this link