Singapore-based asset management firm, Gunung Capital, started its transition towards net zero in late 2019. It began with a review of its main portfolio asset Indonesian steelmaker, Gunung Raja Paksi GRP, which at the time was one of the largest privately owned steel groups in Indonesia.
Together with an overhaul of the asset’s management, the Gunung team considered the stark reality of its carbon footprint. Their decision later that year to list GRP on the Indonesia Stock Exchange IDX, formalised regular disclosure of the asset’s activities in the public domain.
Steelmaking is a big contributor to carbon emissions, with nearly 2 billion tonnes of the...
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