Climate Change Data

Environmental Metrics

ESG Focus Areas

• Good Corporate Governance
• Human Resources
• Environmental Conservation
• Social Community Development

Social Achievements

• Inauguration of Executive Masjid Al Ittihad at Pakuwon Mall.
• Inauguration of Executive Musholla at Blok M Plaza Jakarta.
• Opening of the First Store of Max Fashion at Tunjungan Plaza, Surabaya.
• New Look for Kafe Bromo – SSHT Surabaya.
• Topping-Off of La Viz Condominium at Pakuwon Mall Surabaya.
• Inauguration of Direct Access to MRT at Blok M Plaza.
• Opening of Four Points by Sheraton Surabaya Pakuwon Indah.
• Groundbreaking of Bella Tower of East Coast Mansion Surabaya.
• Inauguration of St. John Paul II Museum & Chapel at Pakuwon Mall Surabaya.

Governance Achievements

• Implementation of Good Corporate Governance (GCG) principles across all business lines.
• Whistleblowing System (WBS) implementation across all business lines.
• Regular assessment on all GCG aspects, such as strategic policies, risk management policies, internal control, violation reporting (whistleblowing) mechanism, and code of conduct.

Climate Goals & Targets

Environmental Challenges

• The COVID-19 pandemic in early 2020 negatively impacted the hospitality and property industries, leading to reduced public activity and decreased visitor numbers to malls and hotels.

Mitigation Strategies

• Monitoring the pandemic's development and regularly evaluating its impact.
• Implementing cash flow and cost control measures to assess non-essential administrative expenses and capital expenditures.
• Maintaining adequate resources, including cash and cash equivalents, to continue operations and capital expenditure.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Awards & Recognition

• 100 Fastest Growing Companies Award by Infobank
• Best Restaurant 2019 by Indonesia Tatler
• BCI Asia Top Ten Developers 2019
• 100 Best Listed Companies 2019 by Majalah Investor
• Indonesia Most Creative Company 2019 by SWA
• Best Performing Developer 2019 by Properti Indonesia Award 2019
• Stability + Profitability by Bisnis Indonesia Award 2019
• Indonesia The Best Public Companies Based on WAI 2019 by SWA
• The Most Innovative Company by IDX
• The Top 50 Listed Companies for 2019 by Forbes Indonesia

Environmental Metrics

ESG Focus Areas

• Sustainability

Social Achievements

• Implementation of Corporate Social Responsibility (CSR) program

Governance Achievements

• Implementation of Good Corporate Governance (GCG) principles
• Establishment of an Audit Committee

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impact on business operations and financial performance (reduced revenues in shopping centers and hotels, tenant support needed, unpaid leave for employees)

Mitigation Strategies

• Implemented strategic policies to respond to the pandemic (tenant support, efficiency measures, business development)
• Open communication with employees about pandemic impact and mitigation strategies
• Acquisition of Hartono Mall Yogyakarta, Marriott Hotel Yogyakarta, and Hartono Mall Solo to expand market reach and recurring income

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Awards & Recognition

• Piagam Penghargaan terkait Penyediaan Tempat Ibadah
• Penghargaan Pakuwon Mall atas Penyediaan Fasilitas Ibadah/Masjid yang Memadai
• Penghargaan Tunjungan Plaza atas Penyediaan Fasilitas Ibadah/Masjid yang Memadai
• The 50 Best Companies Forbes Indonesia
• PropertyGuru Indonesia Property Awards 2020 “Best Mixed Use Development” (Pakuwon Mall Superblock)
• PropertyGuru Indonesia Property Awards 2020 “Best Hotel Architectural Design” (The Westin Surabaya)
• PropertyGuru Indonesia Property Awards 2020 “Real Estate Personality of The Year” (Alexander Tedja)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced emission intensity to 0.1171 TonCO2e/m2 (2021: 0.1304 TonCO2e/m2)
• Energy savings of 3,118,092 KWh (equivalent to Rp3.63 billion)
• Energy savings of 11,383,796 KWh since 2019 baseline
• Planned installation of solar power plants (total 1,655 kWp) to reduce CO2 emissions by approximately 1,390,000 kg annually

Social Achievements

• Launched employee well-being programs, including OHS program and IDP for potential talents
• Provided basic salary and remuneration in accordance with industry regulations and fairness standards
• Significant increase in CSR funds distribution to environment, community empowerment, and education
• Total CSR funds disbursed in 2022 amounted to Rp 6,700 million

Governance Achievements

• Issued Anti-Corruption Policy and Anti-Money Laundering Policy
• Enforced whistleblowing system
• Good Corporate Governance (GCG) implemented well in 2022

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to global political tensions resulting in increased construction material prices
• Low stakeholder understanding of sustainability

Mitigation Strategies

• Gradual and selective adjustments to selling prices
• Substitution of raw materials while maintaining quality
• Increased stakeholder understanding of sustainability through socialization and internalization of sustainability values

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI 2021

Certifications: Greenship (GOLD)

Awards & Recognition

• DJP PMA5 Award
• Asia Best Managed Companies Awards 2022
• Exemplary Taxpayer for the City of Surabaya 2022
• The Recognized Premium Housing Concept in Surabaya
• 1st place award in Energy Efficiency of Retrofit Buildings
• Analyst’s Favourite in the Property Sector at the 2022 CSA Award
• Indonesia Leading Shopping Center award

Environmental Metrics

ESG Focus Areas

• Environmental Conservation
• Establishment of Quality Human Resources And Safe Environment
• Growing With Local Communities
• Quality Products and Customer Satisfaction

Environmental Achievements

• Installation of solar panels in Gandaria City Mall (1,256 GJ/year) and Tunjungan Plaza Surabaya (81 GJ/year), equivalent to a reduction of 297.32 tons of CO2e.
• Obtained green building certifications for four buildings, increasing the green building portfolio share to 8.3% from 2.8% in 2022.
• Signed the SBTi Commitment Letter for short-term science-based emissions reduction targets.

Social Achievements

• Increase in the number of employees by 214 (7.9%) compared to the previous year.
• Various training programs for employees.
• CSR activities benefiting 6,155 people.

Governance Achievements

• Appointment of Imelda & Rekan (Deloitte) as the Public Accounting Firm to audit the Company’s Consolidated Financial Statements for the 2023 Fiscal Year.
• Implementation of Good Corporate Governance (GCG) principles in accordance with OJK regulations and best practices.
• No changes in the composition of the Board of Directors and Board of Commissioners during 2023.

Climate Goals & Targets

Environmental Challenges

• Slow growth in office rental revenue compared to 2022.
• Stagnant office occupancy rate in Jakarta and moderate increase in Surabaya.
• Need for comprehensive human resource preparation for numerous expansion projects.

Mitigation Strategies

• Providing ready-to-use office spaces and flexible step-up pricing schemes.
• Obtaining greenship certificates for all office buildings.
• Implementing various training and mentoring programs and appointing an HR consultant for job profiling.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather

Transition Risks

• Regulatory changes

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI 2021

Certifications: Green Building Certification (various buildings)

Third-party Assurance: PT TÜV SÜD INDONESIA

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Best Newcomer Blood Donor Mover from the Indonesian Red Cross
• 2023 Surabaya City Exemplary Taxpayer award
• Winner of Indonesia Best Managed Companies 2023
• Best Public-Listed Property Company of the Year
• Best Township Scale Development 2023
• Best Prestigious Residential 2023
• Marriott Select Brand Award
• Top Ten Developers by BCL Asia Awards 2023
• 2nd Runner up in the 2023 ASEAN Energy Efficiency and Conservation Award
• Subroto Awards 2023 in the ‘Energy Efficiency’ category
• Anugerah Lingkungan (Environmental Award) by KADIN Jakarta 2023
• 7 awards from ‘World Luxury Restaurant’ and ‘World Luxury Spa Awards’
• CSA Awards 2023 for ‘Analyst Favorite in The Properties & Real Estate Sector’
• Exquisite Award 2023 for ‘Best Wedding Venue’