The company views good Corporate Governance practices (GCG) as efforts to sustain business continuity, maintain the trust of stakeholders, and foster the integrity of the Company. The Corporate Governance Guidelines are formulated as a reference for the management of PT PLN Indonesia Power's business operations based on the principles of Good Corporate Governance (GCG), which serve as norms and guidelines for corporate executives in conducting their business activities.
As a manifestation of comprehensive GCG implementation, PT PLN Indonesia Power adopts several standards for GCG application, including Guidelines for State-Owned Enterprises (BUMN) issued by the Ministry of State-Owned Enterprises, namely Ministerial Regulation No. Per-02/MBU/03/2023 concerning Guidelines for Governance and Significant Corporate Activities of State-Owned Enterprises, the General Guidelines for Corporate Governance in Indonesia (PUG-KI) issued by the National Committee on Governance Policy, and GCG guidelines based on the ASEAN Corporate Governance Scorecard (ACGS) Standards.
The objectives of implementing GCG in PLN Indonesia Power are as follows:
- Achieving business continuity and the legitimate and ethical corporate objectives.
- Empowering the functions and independence of corporate organs, including the General Meeting of Shareholders, Board of Commissioners, and Board of Directors.
- Decision-making by Shareholders, the Board of Commissioners, and the Board of Directors is grounded in high moral values and compliance with legal regulations.
- Fostering corporate social awareness and responsibility towards society and environmental sustainability.
- Optimizing shareholder value while considering other stakeholders.
- Enhancing the Company's competitiveness both nationally and internationally.
- Encouraging management to implement check and balance mechanisms for each function in the business process based on GCG principles.