Medco to Pivot into Green Investments

By Editorial Team 02/09/2021
Electricity
Summary

PT Medco Energi Internasional Tbk (MEDC) is interested in pivoting into green investments to curb the climate change caused by increased carbon emissions. Medco Energi Vice President of Corporate Planning & Investor Relations Myrta Sri Utami assured that the company would prioritize environmental, social, and governance (ESG) standards in carrying out business activities.

Besides, Medco does not operate in the coal sector, which is one of the largest contributors to the world's carbon emissions. "If you look at Medco's business portfolio today, 60 percent of it is gas. We do not mine coal, only copper. So we are already heading that way [green investment]," Myrta said at the 2021 Indonesian Petroleum Association Convention and Exhibition (IPA CONVEX) on Wednesday (9/1).

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