IDX launches green equity designation for three listed companies
The voluntary scheme uses independent reviews to identify businesses involved in green activities or the transition to a low-carbon economy.
The Indonesia Stock Exchange (IDX) has introduced a share designation recognising green and low-carbon transition activities, with three listed companies receiving the first designations. The exchange said the scheme aims to give investors more measurable sustainability information and improve visibility for qualifying businesses.
PT Hero Global Investment Tbk (HGII) and PT Kencana Energi Lestari Tbk (KEEN) received Green Equity status. PT TBS Energi Utama Tbk (TOBA) received Green Equity Transition status. Their designations apply from 28 August 2026 until the annual evaluation in July 2027.
Participation is voluntary for listed companies and those seeking a listing. Applicants must satisfy the criteria and provide an external review report. Companies retaining the designation must undergo periodic assessments, refresh relevant information and submit further external review reports to IDX.
The framework draws on the Indonesian Taxonomy for Sustainable Finance (TKBI), or other applicable taxonomies, alongside the World Federation of Exchanges’ Green Equity Principles. Its five pillars cover financial measures, taxonomy alignment, governance, assessment and disclosure. Revenue or investment is used to measure green and transition activities.
IDX said development began in 2025 with a pilot involving four listed companies and three external reviewers. The exchange stressed that the designation does not constitute a rating or investment recommendation, nor does it guarantee financial performance, returns or investment risk. Company designations and external review findings are available through its website and media channels.
