In 2020, Barito Pacific embarked on an internal carbon offsetting initiative. The first objective is to create a sustainable internal system that will help fund our green efforts to be carbon neutral. The immediate goal is to create a thriving ecosystem within the Group that gives our subsidiaries and partners the ability to buy and participate in an internal carbon credits economy.
In parallel, our subsidiary Chandra Asri escalated efforts to tackle waste. Its flagship plastic asphalt program constructed 17.572km of plastic roads across Indonesia. It enhanced these efforts by participating in the National Plastic Action Partnership, a partnership between the Indonesian government and the World Economic Forum to reduce ocean plastic waste. Chandra Asri also supports the Jakarta Recycling Center (JRC) by advocating waste separation at home. Other initiatives to reduce its carbon footprint are a forthcoming fleet of electric forklifts and an Enclosed Ground Flare project to minimize emission and noise pollution to near-zero levels.
Star Energy's second green bond issuance in 2020 was Indonesia's first investment-grade green bond. It is now exploring a carbon credit program to accelerate its carbon footprint offset. As a global geothermal energy leader, it remains committed to enhancing and funding research in geothermal to reduce costs in producing this energy source. The Company continues its upstream water restoration and landslide prevention programs within operational areas. Its management remains focused on its ESG journey, weaving sustainability considerations into daily operations and long-term strategy.