This upgrade is a recognition of Merdeka's commitment to sustainability and our environmental, social, and governance-related performance. It places Merdeka as one of the few Indonesian mining companies that have received the BBB rating, the highest MSCI ESG rating given to Indonesian Metals and Mining companies. The BBB rating also places Merdeka in the top 30 percent of mining companies in the world that are rated by MSCI.
This step is in line with the commitment of PT Merdeka Copper Gold Tbk (Merdeka) to reduce carbon emissions. Merdeka targets to reduce Scope 1 and Scope 2 Greenhouse Gas (GHG) emissions by 29% by 2030 and achieve Net Zero Emissions by 2050. This Renewable Energy Certificate will reduce Scope 2 GHG emissions, namely indirect GHG emissions from power plants.
The Renewable Energy Certificate Sale and Purchase Agreement was signed on November 1, 2022, by Boyke Abidin, Director of BSI, and Syaifuddin, Manager of PLN Banyuwangi Customer Service Implementation Unit, in Nusa Dua, Bali. The signing was also carried out with various other companies in the event which is a series of G20 Heads of State and Government Summit in mid-November 2022 in Bali. "With this purchase of renewable energy, the Merdeka Group through BSI will reduce Scope 2 Greenhouse Gas emissions by 100 percent at the Tujuh Bukit Gold Mine operation in Banyuwangi," said Boyke Abidin.
The use of renewable energy is a positive step toward realizing Merdeka's commitment to reducing GHG emissions. Merdeka is also exploring reducing GHG emissions through the Solar Power Plant for the Wetar Copper Mine and the Hydro Power Plant for the nickel mining project in Konawe, Southeast Sulawesi.