Stakeholders
MedcoEnergi prioritizes continuous stakeholder engagement to gain a comprehensive understanding of stakeholder expectations, priorities, and needs. This proactive approach enables us to effectively address concerns and maintain a strong social license to operate. We view our stakeholders as valued partners, and through regular engagement and campaigns, we actively seek their feedback to inform and strengthen our targets and programs. Stakeholder engagement is strategically targeted based on their priorities, alignment with our core values, and resource availability. Ultimately, we aim to create long-term stakeholder value by fostering relationships built on mutual trust and transparency.
Shareholders
- Holding annual shareholder meetings to present MedcoEnergi’s financial results, strategic decisions, and significant corporate actions.
- Conducting routine meetings between our management team and investors.
Employees
- Regularly engaging with worker unions representatives on a quarterly basis each year.
- Organizing communication forums to resolve employee relations matters and discuss employment benefits, terms, and conditions.
Contractors, Suppliers and Business Partners
Incorporating updates on Corporate Governance principles, Corporate Values, Code of Conduct, Code of Supplier, and initiatives in Sustainability and Climate Change in our quarterly newsletter for domestic oil & gas contractors, suppliers, and business partners. Additionally, highlighting these topics during our annual Vendor Days dedicated to our partners in oil and gas and power subsidiaries.
Communities
- Implementing stakeholder engagements and community development plans.
- Promoting awareness of our grievance mechanisms through our Social Management System (SMS).
- Leading anti-corruption collective action programs aimed at fostering integrity among youth and raising awareness about anti-corruption measures.
Government and Regulators
- Regularly consulting and collaborating with government agencies to empower local communities, support our workforce, mitigate environmental and social impacts, and enhance our efforts to adapt to climate change.
- Engaging regularly with authorities to provide input on drafts of climate change and environmental regulations.
- Participating in government initiatives such as the Annual SDG Forum, EBTKE (Renewable Energy & Energy Conservation) Conference and Exhibition, and SKK Migas Media Engagement.
Banks and Investors
- Annual disclosures of our ESG data in Sustainability Reports.
- Submitting monitoring reports to our lenders.
- Publishing quarterly investor updates on our website.
- Collaborating with banks to adhere to the Equator Principles (EP) for project financing.
- Conducting online and in-person non-deal roadshows focusing on sustainability and ESG themes.
Non-Government Organizations (NGOs)/Civil Society
- Consulting and collaborating on programs and initiatives to empower local communities, support our workforce, and mitigate adverse environmental and social impacts.
- Maintaining correspondence and communication channels to gather feedback.
Consumers
- Contributing to government objectives of increasing natural gas use in Indonesia, Singapore, and Vietnam.
- Supplying gas to Indonesian state-owned enterprise PT Pupuk Sriwidjaja Palembang, supporting fertilizer production for farmers in South Sumatra.
- Delivering electricity to Indonesian state-owned electricity company PT Perusahaan Listrik Negara Persero through Medco Power.
Media
- Engaging with the media through local and national press conferences.
- Providing awareness and competency training for journalists in the oil and gas industry.
Academia
- Partnering with universities to offer access to advanced research and expertise.
- Implementing capacity-building programs and knowledge-sharing sessions for our workforce.
Membership and Initiatives
Partnering with diverse associations enhances our ability to collaborate and extend our influence within the energy sector. These partnerships not only enable MedcoEnergi to participate actively but also to lead and innovate in securing sustainable energy and natural resources. Additionally, our membership in BSR and CDP ensures we stay informed about industry trends, regulations, and best practices, allowing us to adopt effective strategies proactively.
Country | Name of Association | Position |
---|---|---|
Indonesia | Association of Indonesian Oil & Gas Industry Remuneration Practitioners (APRIMI) | Member |
Auditors Forum of SKK Migas - KKKS (FAMI) | Steering Committee | |
Indonesia Carbon Capture and Storage Center (ICCSC) | Member | |
Indonesia Corporate Secretary Association (ICSA) | Member | |
Indonesia Public Relations Association (PERHUMAS) | Member | |
Hydropower Plant Developers Association (APPLTA) | Member | |
Indonesian Business Council for Sustainable Development (IBCSD) | Member | |
Indonesian Employers Association (APINDO) | Member | |
Indonesian Chamber of Commerce and Industry (KADIN) | Member | |
Indonesian Electrical Power Society (MKI) | Member | |
Indonesian Environmental Impact Assessment Forum (FAI) | Member | |
Indonesian Geothermal Association (INAGA) | Member | |
Indonesian Petroleum Association (IPA) | Board of Director | |
Indonesian Independent Power Producers Association (APLSI) | Member | |
Indonesian Renewable Energy Society (METI) | Board of Supervisors | |
International Society of Sustainability Professionals (ISSP) | Member | |
IPA - Ethics and Compliance Committee | Chairman | |
IPA - Environmental and Safety Committee | Secretary | |
IPA - Energy Transition Committee | Member | |
National Centre for Sustainability Reporting - Energy Sector (NCSRE) | Chairman | |
Public Relations Forum of SKK Migas - PSC Contractor | Steering Committee | |
The Climate Reality Project Indonesia | Leader | |
Thailand | Oil Industry Environmental Safety Group Association (IESG) | Member |
Petroleum Institute of Thailand (PTIT) | Member | |
Society of Petroleum Engineers (SPE) | Member | |
Oman | Oman Chamber of Commerce and Industry (OCCI) | Member |
Oman Society for Petroleum Services (OPAL) | Member |