MEDCOENERGI IMPROVES MSCI ESG RATING TO "AA"
The MSCI ESG rating assesses companies based on their ability to manage ESG risks compared to industry peers. Companies are ranked as leaders (AAA, AA), average (A, BBB, BB), or laggards (B, CCC). Operating in a high-risk sector, MedcoEnergi has demonstrated strong ESG management, exceeding industry standards.
The company's latest rating upgrade is its third upgrade in five years, reflecting consistent enhancements in ESG performance. MedcoEnergi has strengthened its community development programs in the last five years and issued standalone Human Rights Policy in 2024. The company is also advancing its emission reduction initiatives in line with its Net Zero commitments for Scope 1 and 2 by 2050, and Scope 3 by 2060. Additionally, MedcoEnergi has maintained a Total Recordable Injury Rate well below the International Association of Oil & Gas Producers (IOGP) overall and Asia/Australasia regional averages.
"This upgrade to 'AA' from MSCI acknowledges our sustainability efforts and reinforces our commitment to integrating ESG into all aspects of our operations," said Hilmi Panigoro, President Director of MedcoEnergi.
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SOURCE PT Medco Energi Internasional, Tbk
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