Twenty four Bachelor of Management students and 6 Master of Science in Management students from SBM ITB, visited the headquarters of PT Semen Indonesia (Persero) Tbk (SIG) in Jakarta on Friday (16/5). Part of the Corporate Finance course, this academic visit served as an integrated learning experience that connects theoretical concepts with real-world industrial practice.
We aim to bridge the gap between corporate finance theory and real-world practice. As Southeast Asia’s largest state-owned enterprise in the building materials sector, SIG plays a strategic role in implementing sustainable finance, making it an important subject of study,” said Yunieta Anny Nainggolan during the visit.
SIG’s Senior Vice President of Finance, Hasan Arifin, warmly welcomed the students and faculty. He emphasized that the visit offered a valuable opportunity to exchange strategies and innovations in corporate finance.
“We’ve opened this forum for discussion so that the knowledge we apply in the field can provide real-world insights to students,” he said.
PT Semen Indonesia (SIG), originally established as Semen Gresik in 1957, is a state-owned enterprise providing integrated building material solutions across Asia and Oceania. Now managing 17 subsidiaries and 32 factories, SIG aims to become the region’s leading building material solutions provider. The company is committed to sustainability through initiatives such as mine reclamation, green cement production, and a Net Zero Emission target by 2060.
According to SIG Senior Specialist Solehudin Murpi, the company’s ESG implementation includes efficient resource utilization, sustainable product development, and a circular economy approach by co-processing industrial waste as raw materials and alternative energy. SIG also prioritizes regulatory compliance as part of its responsibility to stakeholders.
As of March 2022, SIG was included in the IDX ESG Leaders Index and named the best building materials company in South Asia, with a medium risk score of 25.1 by Sustainalytics. In 2024, SIG reduced its production emissions from 569 to 515 kg of CO₂ per ton of cement, supporting its goal of generating 62% of revenue from green products by 2039.
“We’ve also developed innovative products like interlocking bricks and repurposed industrial waste to support the construction of three million homes,” said Murpi.
SIG and its subsidiary, PT Solusi Bangun Indonesia (SBI), also secured a Sustainability Linked Loan (SLL) totaling IDR 6.89 trillion. This funding supports CO₂ emission reduction efforts and strengthens the company’s decarbonization strategy in line with TOFD standards. It reflects SIG’s commitment not only to shareholder value but also to long-term sustainability. A portion of the funds (IDR 2 trillion) is allocated for capital expenditures related to alternative fuel management.
This visit is expected to begin a lasting collaboration between academia and industry, further advancing the understanding and application of environmentally responsible corporate finance practices.
