Two State-Owned BanksJoin TIME's list of 1,000 Best Companies in the World
Five Indonesian companies are included in the list.
REPUBLIKA.CO.ID, JAKARTA -- TIME Magazine and Statista released a list of the top 1,000 companies in the world. Five Indonesian companies are included in the list. Two of them are banks owned by State-Owned Enterprises (SOEs).
The two red plate banks are Bank Negara Indonesia (BNI) ranked 892nd and Bank Mandiri ranked 914th. The other three companies listed are PT Astra International Tbk in 435th position, PT Adaro Energy Indonesia Tbk in 914th position and PT Charoen Pokphand Indonesia Tbk in 961.
As for, the ratings made by TIME and Statista magazine are based on the highest scores. The scores are based on assessments or survey formulas of employee satisfaction, revenue growth, and environmental, social, and governance (ESG) data.
The survey was conducted in more than 50 countries with data collected from about 170,000 participants. The evaluation includes evaluations of employment providers across all dimensions of image, atmosphere, working conditions, pay, and equality by verified employees as well as direct and indirect recommendations.
In addition, the growth of the company over the past three years also entered into the assessment. Companies must meet certain criteria in order to be considered for evaluation, including generating revenues of at least $100 million in the last available fiscal year and demonstrating positive revenue growth from 2021 to 2023.
“Relative and absolute growth are considered in the evaluation,” as written in TIME quoted Saturday (14/9/2024).
Next is sustainability transparency assessment based on ESG data among standardized KPIs from Statista's ESG Database and targeted data research. To formulate a comprehensive ESG index, several data points were collected.
“For environmental evaluations, these include carbon emission intensity and reduction rates, as well as Carbon Disclosure Project (CDP) ratings,” TIME wrote.
Furthermore, the proportion of women on the board of directors and the existence of human rights policies are also separate assessments. Not only that, corporate governance based on Corporate Social Responsibility (CSR) reports that comply with Global Reporting Initiative (GRI) guidelines and compliance or anticorruption guidelines are also included in the assessment.
Once the data is collected and evaluated, it is consolidated and weighted in the assessment model. Scores from all three dimensions are added with equal percentages to form a final ranking score with a maximum value of 100 points.
“The 1,000 highest-scoring companies were awarded as the 2024 World's Best Companies by TIME and Statista,” TIME wrote.
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