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Dok/PT Chandra Asri Petrochemical Tbk
Chandra Asri Group Achieves Higher ESG Ratings From MSCI And Morningstar Sustainalytics
Tuesday, 15 Oct 2024
Chandra Asri Pacific Tbk (Chandra Asri Group), a provider of energy, chemical, and infrastructure solutions in Southeast Asia, has announced a significant boost in its Environment, Social, and Governance (ESG) Rating from two international agencies, Morgan Stanley Capital International (MSCI) and Morningstar Sustainalytics. This recognition highlights the company's commitment to implementing ESG standards and its efforts in sustainability reporting, performance, and strategy.
The Chandra Asri Group has seen its MSCI ESG score rise, solidifying its position at a BBB rating. Additionally, the ESG Risk Rating from Morningstar Sustainalytics has improved, with the risk score decreasing from 16.6 to 16.3, indicating better ESG performance. This achievement also keeps Chandra Asri Group in the Top Rated ESG category globally within the chemical commodities sector.
Andang Pungkase, Head of ESG & Sustainability at Chandra Asri Group, expressed pride in maintaining and enhancing their sustainability performance, as evidenced by the improved ESG Ratings from both MSCI and Sustainalytics. He noted that this progress is a result of the company's ongoing efforts to proactively manage environmental and social impacts while ensuring transparent and accountable governance.
With this achievement, the company sees greater opportunities for accessing various sustainable financing options, including Sustainability-Linked Loans (SLL), and aims to expand its contributions to the circular economy and national climate targets.
MSCI is a leading global ESG rating agency recognized by investors worldwide. Its ESG assessments evaluate the management of ESG risks and opportunities for thousands of companies across various industries globally.
Morningstar Sustainalytics is a leading ESG rating agency known for its innovative solutions that help top global investors identify, understand, and manage ESG-driven risks and opportunities.
Looking ahead, we're committed to finding ways to innovate in energy efficiency, promote circular economy practices to enhance resource and waste management, and strengthen sustainable supply chains. We're also dedicated to employee development, community engagement, and upholding the highest compliance standards across all company operations, as Andang Pungkase mentioned.
On top of these ESG achievements, Chandra Asri Group has successfully maintained its International Sustainability & Carbon Certification (ISCC) for the second consecutive year. This certification recognizes our facilities for meeting global standards in producing eco-friendly products from bio-feedstock, including Bio-Propylene, Bio-Ethylene, Bio-Crude C4, and Bio-Pygas. The ISCC certification paves the way for Chandra Asri Group's transition to more sustainable alternative raw materials.
