PGEO – Carbon credit success on Indonesian Carbon Exchange

PGEO – Carbon credit success on Indonesian Carbon Exchange Pertamina Geothermal Energy (PGEO), a geothermal power producer, has embraced the Environmental, Social, and Governance (ESG) policy and is targeting a leading position as a global green energy company. PGEO's carbon credits from the Lahendong Unit 5 and Unit 6 projects were listed on the Indonesian Carbon Exchange in August 2023, with a total volume of 459,953 carbon units, amounting to IDR29.2 bn, purchased by entities including major banks, securities firms, mining contractors, and subsidiaries of Pertamina. This initiative contributes to PGEO's ESG framework and provides new revenue sources. In 2022, carbon credit sales brought in around USD747 k in additional revenue, underlining PGEO's commitment to sustainable business practices. (Source: Bisnis Indonesia)