ESG Integration

Our Belief

Our Approach

Driving sustainability Growth through responsible investment

What we learned in 2024

ESG highlight from operating investments where we hold significant influence

89%

Have ESG or HSE policies in place

Fatalities reported

ESG topics monitored across portfolio

67%

With board-level ESG oversight

5,500+

Jobs supported

65%

Women in the workforce

1 Investing Responsibly for a Resilient Future

At INA, responsible investment is core to our mission — building long-term national wealth while supporting inclusive, sustainable development.
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We integrate Environmental, Social, and Governance (ESG) principles across every stage of our investment process, from due diligence to active ownership. This approach helps us manage risk, unlock long-term value, and align with both Indonesia’s development goals and global sustainability standards.
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By investing responsibly, INA multiplies impact — not just returns.
Our investments drive financial and economic multipliers, support job creation, and strengthen Indonesia’s future resilience.

2 Our Approach to Responsible Investment

At INA, our approach to sustainable practices is anchored on three key pillars: ESG Integration, Active Ownership, and Green Energy and Blue Economy Sector Development.

ESG Integration

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Active Ownership

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Green Energy and Blue Economy Sector

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ESG Integration

We Strive to integrate material ESG considerations throughout the investment process not only to effectively manage ESG risks but also to optimize sustainability opportunities within our investment portfolio

1

Integration in the investment process

PRE TRANSACTION

ESG Screening, Preliminary Assessment, and Due Diligence (1, 2, 3)

The initial screening refers to INA’s exclusion list, followed by ESG due diligence or assessments to identify material risks and potential value creation opportunities for the target company.

ESG Recommendations (4)

Material ESG recommendations are taken into account in investment decisions and integrated into transaction documents as necessary.

POST-TRANSACTION

ESG Roadmap Development and Reporting (5)

INA seeks to collaborate with portfolios to develop tailored ESG roadmaps and targets, aligned with the investment structure and ownership. We are committed to regularly reporting ESG implementation to ensure transparency and strengthen stakeholder engagement.

Our ESG Focus Area

GHG Emission & carbon pollutant

Energy management

Water management

Waste management

Ecological Impact

Labor practices and training

Health and safety

Engagement, diversity & inclusion

Community engagement

Workforce and economic growth

Business model resilience

Business ethics and anticorruption

2

Integration into INA’s Operational Process

Environmental Impact

At INA, we are committed to reducing our carbon footprint through practical, measurable steps. Since 2024, we have introduced electric vehicles to help lower Scope 1 emissions from operational activities. In line with our efforts, we also purchased Renewable Energy Certificates (RECs) to offset our operational Scope 2 emissions for 2023 and 2024. We believe transparent monitoring and concrete action are essential to supporting the transition to a greener future.

100%

of Operational Scope 2 GHG emmisions offset over pas 2 year

Workforce Diversity and Governance

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We promote a diverse workforce with a focus on ensuring equal opportunity at all levels of the organization. Our diversity targets reflect a sustained commitment to representation.

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40%+

Women in our workforce – a target we have consistently met across the years.

45%

Women in managerial role – reflecting strong representation in leadership positions.

Active Ownership

INA works closely with portfolio companies to manage ESG risks, improve governance, and advance sustainability practices. Our approach is flexible — tailored to each investment — but always focused on material issues that drive long-term value.

Key
Focus
Areas

Corporate Governance

Compliance with good governance principles, including the availability of a code of ethics, anti-bribery and anti-corruption policies, as well as whistleblowing systems.

Board of Directors Oversight

Active involvement of the Board of Directors in overseeing and managing ESG-related issues.

Sustainability

Development of strategies and plans to effectively manage sustainability issues, such as energy efficiency, greenhouse gas emissions management, and whistleblowing system development.

Human Resources

Availability of strategies and plans to develop a skilled, diverse, and inclusive workforce.

Safeguarding Our Portfolio

Toll Road Sector

PT Rafflesia Investasi Indonesia (PT RII) is a toll road platform jointly established by INA, Abu Dhabi Investment Authority (ADIA), and APG Asset Management. It manages four strategic toll road assets:

Kanci–Pejagan
Pejagan–Pemalang
Bakauheni–Terbanggi Besar
Medan–Binjai

As a newly formed entity, PT RII has prioritized sound corporate governance across the platform and its underlying assets. In 2024, the company adopted several key policies, including:

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Code of Ethics

Third-Party Policy

Environmental, Social, and Governance (ESG) Policy

Anti-Bribery and Anti-Corruption Policy

Together with INA, ADIA, and APG, PT RII also developed a Sustainability Roadmap and KPIs focusing on:

Energy efficiency improvements

Enhanced employee training

Strengthened quality management systems

Catalyzing Indonesia’s Green Economy

INA is committed to supporting the global climate agenda by directing strategic capital toward sectors that enable Indonesia’s transition to a low-carbon economy.

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Our green investment strategy focuses on:

Energy transition

Clean technology

Natural capital and blue economy