Company Selection
Companies listed on the Indonesia Stock Exchange that publish a sustainability report in accordance with GRI Standards are selected and assessed against the 33 ESG factors.
IDX-listed · GRI StandardsOur methodology
From assessment to index leadership
Each year, the selection narrows in three stages, from companies publishing GRI-based sustainability reports to the few recognised as ESG Leaders.
LQ45 Screening
The assessed companies are screened against the LQ45, the index of the 45 most liquid stocks on the exchange, so the index reflects companies with significant market presence.
LQ45 IndexIdentifying ESG Leaders
The LQ45 companies with the highest disclosure scores are designated ESG Leaders for that year and form the constituents of the index.
3 to 5 ESG Leaders a yearTracking ESG compliance
5 years of ESG leaders
Daily index levels for the ESG Leader Index are available from January 2021. The 2019 tab presents the archived IHSGK, the sustainability index that preceded it.
BGK ESG Leader Index vs. IHSG, 2021–2024
Indexed levels, sourced from the BGK Foundation ESG Index dashboard.
- BGK ESG Leader
- IHSG
BGK ESG Leader▲+34.6%130.1 → 175.1
IHSG▲+16.0%110.4 → 128.0
Gap at period end+47.0index points, Leader minus IHSG
From Jan 2021 to Dec 2024, the ESG Leader index moved +34.6%, against +16.0% for IHSG. It closed above IHSG on every one of the 969 trading days from 2021 to 2024.
View data as a table
| Point | BGK ESG Leader | IHSG | Gap |
|---|---|---|---|
| Start (Jan 2021) | 130.08 | 110.40 | +19.7 |
| End of 2021 | 151.72 | 119.02 | +32.7 |
| End of 2022 | 242.04 | 123.88 | +118.2 |
| End of 2023 | 180.18 | 131.52 | +48.7 |
| End of 2024 | 175.06 | 128.03 | +47.0 |
Each year's series is joined end to end. 2021, 2022, 2023, and 2024 are daily closes. 2019 predates the Leader index and is on its own tab.
Roll of leaders
Index constituents, year by year
Fourteen companies have appeared since 2019. Eleven of them as IHSGK constituents and eight as ESG Leaders. Bank Rakyat Indonesia is the only company to feature in every year.
| Company | 2019IHSGK | 2021Leader | 2022Leader | 2023Leader | 2024Leader | Years |
|---|---|---|---|---|---|---|
| BBRIPT BANK RAKYAT INDONESIA (PERSERO) TBKBANK | 41 | 92 | 93 | 94 | 95 | 5 of 5 |
| PTBAPT BUKIT ASAM TBKMINING | 21 | Not on the 2021 list | 91 | 95 | 96 | 4 of 5 |
| ITMGPT INDO TAMBANGRAYA MEGAH TBKMINING | 35 | Not on the 2021 list | Not on the 2022 list | 96 | 97 | 3 of 5 |
| BMRIPT BANK MANDIRI (PERSERO) TBKBANK | 16 | 75 | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 2 of 5 |
| BBTNPT BANK TABUNGAN NEGARA (PERSERO) TBKBANK | 16 | 73 | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 2 of 5 |
| ANTMPT ANEKA TAMBANG ( PERSERO) TBKMINING | Not on the 2019 list | Not on the 2021 list | 92 | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| INDYPT Indika Energy TbkENERGY | Not on the 2019 list | 72 | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| INCOPT VALE INDONESIA TBKMINING | Not on the 2019 list | 68 | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| BBCAPT BANK CENTRAL ASIA TBKBANK | 31 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| BBNIPT BANK NEGARA INDONESIA (PERSERO) TBKBANK | 25 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| INTPPT INDOCEMENT TUNGGAL PRAKARSA TBKBASIC INDUSTRY | 24 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| PTPPPT PEMBANGUNAN PERUMAHAN ( PERSERO) TBKCONSTRUCTION | 15 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| ASIIPT ASTRA INTERNATIONAL TBKMISCELLANEOUS INDUSTRY | 14 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
| JPFAPT JAPFA COMPEED INDONESIA TBKAGRICULTURE AND ANIMAL HUSBANDRY | 14 | Not on the 2021 list | Not on the 2022 list | Not on the 2023 list | Not on the 2024 list | 1 of 5 |
ESG disclosure scorelow to high.A dot means the company was not on that year's list.
Beyond the Leader Index
Further benchmarks for transparent reporting
The IHSGK, Climate Index and Climate 30 Index highlight companies demonstrating stronger transparency in ESG and climate reporting under GRI Standards.
- IHSGK
- IHSGK 30
- IHSGK 30 Perbankan
- Climate Index
- Climate 30 Index
BGK ESG Leader Index
Measure your company against the leaders
Review your company's disclosure score, or consult our team on assessment, benchmarking and preparing for 2027.
Index levels and scores are sourced from the BGK Foundation ESG Index dashboard and are provided for information only. They do not constitute investment advice, and past performance is not indicative of future results.