Prevent Global Warming, Pertamina Encourages Global Collaboration to Succeed in Energy Transition

Jakarta, July 14, 2022 - Preventing global warming and climate change is a challenge for both developed and developing countries. It includes energy companies and industry.

President Director of Pertamina, Nicke Widyawati, said that energy transition is the key to preventing catastrophic global warming and climate change. However, this energy transition should not interfere with the unfinished development agenda of developing countries. Moreover, developing countries' average energy consumption, emission expenditure, and income per capita are generally below developed countries.

"Developed countries must support developing countries in transitioning to sustainable energy if the world wants to have a chance fulfilling the global warming targets," Nicke said in the "Sustainable Finance For Climate Transition" dialogue in Bali, Thursday, July 14, 2022.

As an Energy SOE, Nicke said that Pertamina had allocated 14 percent of the total investment funds Capex (Capital Expenditure) to make the energy transition successful in Indonesia. This figure is much higher than the world energy companies' average investment for renewable energy of 4.3%.

"Overcoming Climate Change is one of Pertamina's Sustainability strategies, with a 30% emission reduction target in 2030 or above Indonesia's NDC target in 2030. It is recorded that throughout 2010 - 2020, we have reduced 6.8 million tons of CO2 equivalent (MmtCO2E) or 27% from 26% baseline 2010,” stated Nicke.

Nicke, who also serves as the Chair of the Energy, Sustainability, and Climate B2 Task Force, added that the energy transition must be well planned to ensure energy security and energy accessibility for all communities are maintained. Pertamina will accelerate the energy transition towards sustainable energy use, ensure a fair and affordable transition, and improve energy security.

According to Nicke, the energy transition requires technology and high costs. For that reason, Pertamina is open to partnerships and collaborations to encourage innovation and reduce technology costs.

"Pertamina's ambition is to become a leading global energy company with a good reputation and to be recognized as a company that implements ESG principles in an integrated manner," said Nicke.

Minister of Finance Sri Mulyani, President Director of PLN Darmawan Prasojo, President Director of PGE Ahmad Yunianto, and Vice President of Jinko Solar Co. Ltd., Ms. Dany Qian were resent at the hybrid event.**