The company views Good Corporate Governance (GCG) practices as a tool for maintaining business sustainability, ensuring the trust of stakeholders, and fostering the company's integrity. The Corporate Governance Guidelines are formulated as a reference for managing PT Indonesia Power based on the principles of Good Corporate Governance (GCG), which serve as rules and guidelines for company executives in carrying out their business activities.
As a manifestation of comprehensive GCG implementation, PT Indonesia Power adopts the GCG application standards for State-Owned Enterprises (SOEs) issued by the Ministry of SOEs, namely Minister of SOEs Regulation No. Per-01/MBU/2011 and SK-16/S MBU/2012.
The objectives of GCG implementation in Indonesia Power are:
To achieve business continuity and established company goals;
To empower the function and independence of the company's organs, which consist of the General Meeting of Shareholders (RUPS), Board of Commissioners, and Board of Directors;
To make decisions by shareholders, the Board of Commissioners, and the Board of Directors based on high moral values and compliance with laws and regulations;
To create awareness and social responsibility of the company towards society and the preservation of the surrounding environment;
To optimize the company's value for shareholders while considering other stakeholders;
To enhance the company's competitiveness nationally and internationally;
To encourage management to perform check and balance mechanisms on every function in the business process based on GCG principles.
The Company's Corporate Governance Policy is implemented by PT Indonesia Power by enforcing the Corporate Governance Policy Guidelines (Good Corporate Governance Code), Company Ethics Guidelines (Code of Conduct), Board of Directors and Commissioners Working Guidelines (Board Manual), Company Management Guidelines (InPower IMS), Management Risk Policy Guidelines, Internal Control System Guidelines, and other policies to support Corporate Governance Practices such as the Whistle-Blowing System Policy, Gratuity Control Policy, Report of Assets Policy, Clean Indonesia Power Policy, Conflict of Interest Policy, and Public Information Transparency Policy.