For the second time, ITM has achieved the highest Platinum Rank award in the 2024 Asia Sustainability Reporting Rating (ASRRAT) organized by the National Centre for Corporate Reporting (NCCR).
The ASRRAT 2024 Awarding Night was held in Jakarta on November 21, 2024. ITM earned the Platinum Rank by scoring above 93 out of 100 points in the evaluation of its Sustainability Report. The company has actively participated in this event since 2017.
ASRRAT 2024 marks its 20th year under the theme "Enhanced Transparency and Accountability for Sustainable Business." This year, 70 organizations from the private and public sectors, including higher education institutions, attended the event. A total of 11 companies received the Platinum Rank award.
ITM's President Director, Mr. Mulianto, who received the 2024 ASRRAT trophy, stated that this achievement motivates ITM to continue taking concrete steps to mitigate environmental and social impacts while maintaining good governance, contributing to the achievement of sustainable development goals.
"The Sustainability Report is a crucial tool for measuring ESG performance and is part of ITM's efforts to prioritize transparency and accountability to stakeholders," said Mr. Mulianto.
NCCR Chairman Ali Darwin highlighted that over the two decades of ASRRAT, NCCR has developed more than 3,400 sustainability practitioners certified as Certified Sustainability Reporting Specialists (CSRS) across Southeast Asia.
According to a KPMG study in 2022, approximately 75% of G250 companies have published sustainability reports. Additionally, all regional public companies have recently been required to submit sustainability reports, reflecting a significant shift towards transparency and accountability in corporate sustainability practices.
"The obligation to disclose performance in Sustainability Reports encourages companies to be more transparent and accountable in managing social and environmental impacts," stated Ali.
Meanwhile, NCCR Supervisory Board Chairman Prof. Bambang Brodjonegoro stated that Sustainability Reports can better mitigate risks and enhance public trust.
“Today's world increasingly prioritizes businesses with clear actions and goals. Moreover, the 2023 Morgan Stanley report shows that 85% of individual customers is interested in sustainable investments."
Since 2005, NCCR, as the first independent organization to develop Sustainability Reporting in Indonesia, has regularly assessed Sustainability Reports, focusing on transparency and compliance, following frameworks established by the Global Reporting Initiative (GRI) and OJK Circular Letter (SEOJK) 16/2023.
To achieve the Platinum Rank, companies must meet several criteria in report preparation, such as Type 2 Assurance Engagement based on AA1000AS (2018) and/or ISAE3000, SDGs Compass, full disclosure of energy and greenhouse gas emissions aspects, and undergo an interview process.
Seven judges and 20 assessors certified in auditing and evaluating Sustainability Reports conducted the report assessment.
The final evaluation stage involved an interview session with ITM's Board of Directors on October 29, 2024.
ASRRAT 2024 Chief Judge Veronica Saptarini stated that independent evaluators carefully reviewed all reports submitted by the organizations to assess compliance with GRI standards and SEOJK regulations. These evaluations formed the basis for judges determining each organization's sustainability reporting rankings.
"Sustainability reporting has significantly evolved into an essential tool for communicating efforts towards sustainable development. It enables organizations to foster a culture of trust, transparency, and accountability," said Veronica.
