Jakarta (March 6, 2023) — The Foundation for International Human Rights Reporting Standards (FIHRRST) and Moores Rowland Indonesia recently launched their Study of the Sustainability Reports of All the Publicly Listed Companies in Indonesia in 2021. The launch is a platform for continuously supporting the advancement of sustainability reporting by public companies in Indonesia.
Opening remarks were given by Mr. Marzuki Darusman, Chair of FIHRRST, and Ms. Vera Florida, the Vice President of the Indonesia Stock Exchange (IDX). In his opening remarks, Mr. Marzuki highlighted that the study results show that the number of reports in 2021 increased significantly, namely 121.40%, compared to the number of reports in 2020.
The second session, the ‘Brief Presentation of the Study Results’ was delivered by Mr. Ali Rahmadi, Operations Director of FIHRRST. Mr. Ali explained that the study was conducted to research the conformity of the sustainability reports of public companies in Indonesia with the government’s POJK 51/2017 sustainability report criteria. He also mentioned that in the GRI Standards 2021, human rights are not just a separate standard or material topic, but companies are now required to disclose in their sustainability report the impact their business operations have on human rights.
A discussion then followed about ‘The Importance of Human Rights in Sustainability Reporting’ which was moderated by Ratih Ananda Putri, Business and Human Rights Specialist at FIHRRST. The discussion was attended by Ms, Hajerati S.H., M.H., the Director of Human Rights Cooperation at the Directorate General of Law and Human Rights, Ms. Sagita Adesywi, Business and Human Rights Specialist at UNDP Indonesia, and Mr. Aryo Yoga Pratama, Senior Analyst at the Directorate of Capital Market and Sharia Capital Market Development at the Indonesia Financial Service Authority (OJK).
Ms. Hajerati expressed that the Ministry of Law and Human Rights’ goals were to have all listed companies to respect human rights and they are currently preparing a National Action Plan on Business and Human Rights (Stranas BHAM), which will become a presidential regulation. Then Mr. Aryo, explained that a lot of companies have implemented the protection of human rights, but those companies are not aware about it yet. He added that OJK has promoted human rights in the “S” part of the Environment, Social and Government (ESG) goals and will support the implementation of human rights by businesses in Indonesia and harmonize existing regulations. Ms. Sagita added that the UNDP is promoting human rights and sustainability at businesses by facilitating discussions between the government, the national task force, and companies, especially in relation to Sustainable Development Goals (SDGs).
The final session was ‘Sharing Best Practices of Sustainability Reporting and their Human Rights Performance,’moderated by Mr. Dendi Trisnadi from Moores Rowland Indonesia, which was attended by representatives from Bumi Resources, Bumi Resource Mineral, Bank BCA, Vale, and Indah Kiat Pulp and Paper. In this session, the companies showed their human rights performance in their sustainability report. Most of the companies already have a human rights policy, while BUMI, Bumi Resource Mineral, and Indah Kiat Pulp and Paper have already implemented human rights due diligence (HRDD).
Before the event ended, Mr. Makarim Wibisono, Co-Founder of FIHRRST, awarded companies with the best sustainability reports. There were 10 companies that received A+ from our study: PT Astra International Tbk, PT Bank Central Asia Tbk, PT Bank CIMB Niaga Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Tabungan Negara (Persero) Tbk, PT Bukit Asam Tbk, PT Bumi Resources Tbk, PT Jasa Marga (Persero) Tbk, PT Perusahaan Gas Negara Tbk, and PT Vale Indonesia Tbk. The awarding session was followed by closing remarks from Mr. James Kallman, the CEO of Moores Rowland Indonesia. Mr. Kallman emphasized the importance of sustainability in business, especially sustainability reporting and assurance, because the whole world is beginning to implement it and is working towards it together.