MEDCOENERGI IMPROVES MSCI ESG RATING TO "AA"

JAKARTA, Indonesia, Feb. 5, 2025 /PRNewswire/ -- PT Medco Energi Internasional Tbk (MedcoEnergi) has received an upgrade to its MSCI ESG rating, from "A" to "AA". This recognition positions MedcoEnergi as a leader in sustainability within the exploration and oil and gas industry.

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.