Video summary

Dengar Pendapat DE Amendemen PSPK 2, DE Revisi PSPK 1 dan 2; serta DE Panduan Berbasis Industri

Main summary

Key takeaways

Business

Business / Regulatory Focus (What the Video Is About)

The video is a public hearing by the Indonesian Institute of Accountants (IAI) on:

  • Amendments to PSPK 2
    • Sustainability disclosure for greenhouse gas emissions
    • Includes Scope 3 category 15: “financed emissions”
  • Revisions to PSPK 1 and PSPK 2
    • Including hierarchy/usage of references
  • Industry-based guidance (drafts)
    • For implementing sustainability disclosure standards

Target effectiveness date for the revised standards and discussed framework: January 1, 2027.

The IAI frames sustainability reporting as converging financial reporting and sustainability disclosure into one integrated, decision-useful reporting package for investors.

Strategy / Operating Model Being Enforced (Process + Governance Logic)

Core Requirement (PSPK 1 & PSPK 2 Conceptual Basis)

Companies must disclose the core content of:

  • Governance
  • Risk management
  • Strategy (including targets)
  • Matrix / topics linked to materiality

Key principles:

  • Disclosures must be material (not a checklist).
  • Disclosures must be decision-useful for investors.
  • Avoid disclosing material vs. immaterial information indiscriminately.
  • Use a “fair presentation” approach focused on what is relevant to investor decisions.

Reference Hierarchy and Materiality Work

The revisions formalize a hierarchy/order for references to identify sustainability risks and opportunities:

  1. First consider industry-based guidelines (where available)
  2. If an industry guideline is not available, use SASB / other aligned references, with appropriate contextualization

Adoption Logic for Indonesia (Contextualization)

The IAI emphasizes it does not simply copy global standards; it filters what fits Indonesian business and regulatory context.

Industry guides are built by:

  • Mapping global standards to industry needs
  • Adjusting for Indonesia via:
    • FGD/hearings
    • regulators’ input
    • data selection rules and classification scope

Industry-Based Guidance (PBI): What It Is and How It Is Structured

Standing / Function

Industry-based guidance is adopted as references to implement PSPK 1 & PSPK 2.

It is described as not a new independent standard replacing PSPK. Instead, it becomes the main reference for:

  • Identifying relevant topics
  • Defining required disclosure matrices
  • Providing industry-specific definitions and protocols

Coverage Plan + Timeline

A total of 7 exposure drafts were discussed:

  • Amendment exposure draft to PSPK 2
  • Revisions exposure drafts to PSPK 1 and PSPK 2
  • 5 industry-based guidelines for stage 1

Public comment submission deadline: until September 30, 2026.

Industry-based guides are targeted to be issued so they are ready for the 2027 effectiveness.

A future roadmap was also mentioned:

  • ~15 industry-based guides targeted for completion by 2026
  • Telecommunications planned for phase two

Stage 1 Industries (5)

  1. Commercial banking
  2. Chemicals
  3. Metals and mining
  4. Coal (Batubara)
  5. Housing developers

How Indonesia Selects Industries and Datasets (Beyond Conceptual Mapping)

For stage-one industry selection, the draft references indicator significance to determine the greatest impact on Indonesia’s capital market, including:

  • Export activity
  • GDP
  • FDI
  • IDX market capitalization share

Data references:

  • Export activity: BPS
  • GDP: Bank Indonesia
  • FDI: BPS

Data periods:

  • Export & GDP: 2023–2024
  • FDI: 2021–2023 (latest available during the work period)

Industrial classification coverage (approx.):

  • Export activities: ~300–302 industries
  • GDP: 52 industries
  • FDI: 23 industries

Playbooks / Frameworks Embedded in the Drafts (Practical “How to Disclose” Structure)

Industry guides include standardized components companies must operationalize:

  • Industry description + relevance test
    • Helps entities justify whether the industry guideline applies to their business model/activities
  • Topics list
    • Split into climate vs non-climate topics
  • Disclosure matrices
    • Standardizes what to report and supports comparability
  • Technical protocols
    • Define measurement boundaries and definitions
    • Example referenced: what counts as a data security breach, including how to interpret system confidentiality/integrity/availability
  • Activity matrices
    • Quantifies operational scale for comparison across similar-sized entities
    • Example given (commercial banking): matrices using number of accounts and total value of savings accounts, segmented by MSME categories

Concrete Examples and Adjustments by Industry (Indonesia-Specific)

Commercial Banking (Industry-Based Guide)

  • Scope

    • Commercial banking services only
    • Excludes investment banking, brokerage, etc.

  • Topics (7 total)

    • Climate-related (2)
      • Integrating ESG in credit analysis (ISG in credit analysis)
      • Financed emissions
    • Beyond climate / other than climate (5)
      • Data security
      • Financial inclusion & capacity building
      • Business ethics
      • Systemic risk management

  • Indonesia-specific adjustments requested

    • Data security
      • Global examples may be US-centric; need Indonesia-specific examples, laws, and regulatory references
    • Systemic risk management
      • Indonesia currently has no commercial banks classified in the GISIP category
      • Disclosures should still explain systemic banking risks at national level and align with Indonesia’s regulatory framework

Chemicals (Industry-Based Guide)

  • Scope

    • Converts organic/inorganic raw materials into chemical products, grouped into:
      • Basic chemicals
      • Agricultural chemicals
      • Specialty chemicals

  • Climate topics (4)

    • GHG emissions
    • Energy management
    • Water management
    • Product design for efficiency at usage stage

  • Beyond climate topics (examples)

    • Air quality
    • Hazardous waste
    • Community relationship
    • Occupational health & safety
    • Safety/environmental management of chemicals
    • Genetically engineered organisms
    • Emergency response readiness

  • Indonesia-specific “adjustment focus areas” (5 examples)

    • VOC and HAP alignment with Indonesian reporting obligations
    • Hazardous waste handed to collectors/processors/users/stockpilers
    • Occupational health & safety updates for comparability
    • Chemical safety/environment management, including green certification of products/factories
    • Operational security and emergency response adjustments (including transportation incidents and public complaints)

Metals and Mining (Industry-Based Guide)

  • Scope

    • Excludes:
      • Coal (separate guide)
      • Iron and steel production (separate guide)

  • Beyond climate themes

    • Air quality, waste, ecology/habitat impacts
    • Community relations (including indigenous peoples’ rights)
    • Operations in conflict areas
    • Workforce health & safety
    • Supply chain management and anti-bribery/anti-corruption compliance
    • Tailings storage facility management and security

  • Indonesia adjustments discussed

    • Add/clarify ASM (artisanal and small-scale mining) risk management if material
    • Indigenous communities alignment with Indonesian legal framework
      • including terminology and how UNDRIP references are treated
    • Replace/adjust FPIC wording to locally understood term:
      • FPIC → padiatapa (consent based on prior information without coercion)
    • Add more helpful disclosures on:
      • baseline social conditions
      • monitoring over time (to evaluate change)

Coal / Batubara (Industry-Based Guide)

  • Climate topics (3)

    • GHG emissions
    • Energy management (explicitly added for coal in Indonesia context)
    • Water management

  • Beyond climate topics (8)

    • Waste + hazardous raw material management (including tailings-related)
    • Ecological impact / spatial footprint
    • Community relations + indigenous peoples (with definitional adjustments)
    • Operations in conflict areas
    • Labor practices
    • Occupational health & safety (explicit priority)
    • Climate resilience (positioned as “beyond climate”)
    • Tailings storage facility management (inventory)

  • Coal-specific Indonesia adjustments (5 examples)

    • Add energy management to link to climate disclosures
    • Do not adopt a matrix about latent CO₂ in proven coal reserves due to lack of consistent methodology in Indonesia (risk of low reliability/comparability)
    • Adjust indigenous/social impact elements (padiatapa terminology, baseline socio-economic conditions and monitoring)
    • Add additional information on indigenous community territories to match Indonesian regulatory approach

Housing Developers (Industry-Based Guide)

  • Why prioritized for translation/adoption

    • The sector’s contribution is “quite significant” compared with other real estate segments.

  • Defined around SASB concept

    • Home builders develop land for residential use, build new homes, and sell them (includes land acquisition/prep, construction, sales)

  • “Rules of play”

    • Climate-related topics: land use, ecological impact, design for resource efficiency, climate change adaptation
    • Beyond climate topics: worker health & safety and community impacts from new development

  • Indonesia-specific addition (example)

    • Reference to multi-attribute green building certification using an Indonesian public program:
      • Ministry of Public Works (PU) as the local version
      • while keeping third-party multi-attribute standards valid

PSPK 2 Amendment (Greenhouse Gas / Financed Emissions): What Changes Operationally

Key operational content in the amendment exposure draft:

  • Scope 3 Category 15 = investment / financed emissions
  • Relief/leniency
    • Entities may exclude derivative-transaction related MSI
    • Category 15 can be limited (per draft language) to financed issuances
    • Entities may exclude derivative transactions from Category 15 measurement if they choose
    • If derivative-related emissions are disclosed, entities must explain which derivatives are included/excluded
  • Industry classification
    • No requirement to use GICS specifically
    • Entities may use KBLI or other jurisdiction-appropriate classification for counterparty classification
  • Measurement methods
    • Expected alignment to GHG Protocol
    • Authorities/exchanges may request other methods in future
  • Global Warming Potential (GWP)
    • Uses IPCC, unless authorities/exchanges require other assessment methods

Effective Date Alignment

Implementation timing aligns with the overall package:

  • January 1, 2027 for PSPK 1/2 revisions and PSPK 2 amendments if adopted by then

Key KPIs / Targets / Timelines Explicitly Stated

  • Effectiveness date: January 1, 2027
  • Public comment submission deadline: September 30, 2026
  • Finalization target: completed in 2026

No company-level financial KPIs (e.g., revenue, CAC, LTV, churn) were provided.

Instead, the “KPIs” emphasized are primarily:

  • Disclosure matrices (e.g., data breaches, energy/water usage, waste quantities, tailings inventory, financed emissions)
  • Materiality criteria and the notion of milestones/targets within the PSPK core structure (strategy/targets)

Actionable Takeaways (What Companies Must Prepare)

  • Provide feedback on exposure drafts through:
    • Q&A and/or written input
  • Prepare internal work for PSPK implementation by:
    • Running a materiality analysis (what risks/opportunities are material to investor decisions)
    • Using the relevant industry-based guideline
    • Completing required matrices and technical protocols
    • Documenting industry selection and rationale in sustainability disclosures
  • Be cautious about omission:
    • Boards should omit disclosures only when something is truly not material/relevant
    • Poor scoping can affect audit opinion quality

Presenters / Sources Mentioned

Institutions

  • IAI (Indonesian Institute of Accountants)
    • IAI Sustainability Standards Board (DSK IAI)
    • IAI Sustainability Working Team / TKK
    • IAI Sustainability Standards Monitoring Board (DPSK)

Global references/frameworks mentioned:

  • IFRS / ISSB
    • IFRS S1
    • IFRS S2
  • SASB
  • GHG Protocol
  • IPCC (high-level)

Individuals (Mentioned in the Hearing / Introductions)

  • Mrs. Istini Sidarta (Chairperson, IAI Sustainability Standards Board)
  • Mrs. Prabandari Murti (member, IAI Sustainability Standards Board)
  • Mrs. Yuliana Sujono (member, IAI Sustainability Standards Board; presenter)
  • Mr. Palti Frederico
  • Mrs. Susanti
  • Mrs. Elviauki
  • Mrs. Lutfana Larasti
  • Mrs. Lulu Widyawati (Chairperson, Sustainability Working Team)
  • Mrs. Ika Merdekawati
  • Mr. Yakub (Head of IAI Sustainability Working Team / presenter)
  • Mr. Ari Pratama, Prof. Dindawati, Mr. Cumadi, Mr. Bobi Wahyu Hernawan, Mrs. Inda Iramadini, Mrs. Lasmi Dewanti Esio, Mr. Lukas Kurniawan, Mr. Mega Wilastomo, Mrs. Nawaleli (DPSK members referenced)

Additional names appearing as moderators/hosts/presenters/participants:

  • Mrs. Monik
  • Mr. Jacob / Yakub (subtitle variability)
  • Mrs. Lulu (Hidaywati)
  • Mrs. Elvia (housing developers exposure draft presenter)
  • Mr. Palti (chemicals exposure draft presenter)
  • Mr. Susanti (metals and mining exposure draft presenter)
  • Mrs. Ika (coal exposure draft presenter)
  • Mrs. Cika (PSPK2 amendment presenter on greenhouse gas emissions)
  • Mrs. Nani / Mrs. Naniik
  • Mrs. Rizkia Sariuda Winata, Mr. Wahyu Marjaka, Mr. Jaro Suroyo
  • Ms. Lidia, Mrs. Popi (BNI), Mr. Arif
  • Mrs. Elvia / Mrs. Elviauki (name appears in multiple places; spelling may vary by subtitles)

Original video