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Source: PT Pertamina
Energy transition collaboration to tackle global warming: Pertamina

JAKARTA, July 15, 2022 - (ACN Newswire) - Indonesia's oil and gas state-owned enterprise PT Pertamina has encouraged collaboration between countries for energy transition in order to tackle global warming.

Pertamina President Director Nicke Widyawati (middle) in a B20 dialogue themed "Sustainable Finance for Climate Transition" held in Bali on Thursday, July 14, 2022. (ANTARA/HO-PT Pertamina)

"Preventing global warming and climate change is a challenge for all countries in the world, both developed and developing countries, including energy companies and industry parties," the energy company stated in a release, Friday.

Pertamina President Director Nicke Widyawati noted that energy transition is the key to preventing catastrophic impacts of global warming and climate change, but energy transition efforts should not interfere with the unfinished development agenda in some developing countries.

Widyawati brought up this point, considering that the average energy consumption, emission expenditure, and income per capita of developing countries are generally below those of developed countries.

"Therefore, developed countries must support developing countries in the transition to sustainable energy if the world wants to have a chance to meet the global warming (reduction) target," she stated in a dialogue themed "Sustainable Finance for Climate Transition" held in Bali on Thursday (July 14).

She remarked that Pertamina -- as an energy SOE -- has allocated a capital expenditure (Capex) of 14 percent of its total investment funds to support the implementation of energy transition in Indonesia. The figure is much higher than the average investment of 4.3 percent for renewable energy made by any other world energy company.

"Overcoming climate change is one of Pertamina's Sustainability program strategies, with a target of reducing carbon emissions by 30 percent by 2030, which is above Indonesia's nationally determined contribution (NDC) target," Widyawati noted.

She remarked that from 2010 to 2020, the company had succeeded in reducing 6.8 million metric tons of carbon dioxide equivalents (MmtCO2E), or 27 percent, from 26 percent of the 2010 baseline.

Widyawati -- who currently also serves as chair of the B20 Task Force for Energy, Sustainability, and Climate -- emphasized that all energy transition efforts must be thoroughly planned in order to ensure energy security and accessibility for the entire community is well-maintained.

Pertamina will accelerate its energy transition efforts towards sustainable energy use as well as ensure a fair and affordable transition and improve energy security, she remarked.

Considering that energy transition requires high technology and costs, Widyawati further said that Pertamina is open to partnerships and collaborations with like-minded parties to encourage innovation and reduce technology costs for the transition effort.

"Pertamina's ambition is to become a leading global energy company with a good reputation and to be recognized as a company that implements the principles of ESG (environmental, social, and governance) in an integrated manner," she stated.

The dialog, held in a hybrid format, was also attended by Indonesian Minister of Finance Sri Mulyani, President Director of state-owned electric power corporation PLN Darmawan Prasojo, President Director of PT Pertamina Geothermal Energy (PGE) Ahmad Yunianto, and Vice President of Jinko Solar Co. Ltd. Dany Qian.

The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 reserved companies and business organizations, and it is among the most prominent Engagement Groups in G20.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

Topic: Press release summary
Source: PT Pertamina

Sectors: Environment, ESG, Alternative Energy, ASEAN
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