Decision on observation

Norges Bank’s Executive Board has decided to place the company PT Semen Indonesia (Persero) Tbk PT under observation for a period of three years under the ethical criteria “other particularly serious violations of fundamental ethical norms”. The background for the decision is unacceptable risk of damage on prehistoric and irreplaceable culture heritage in Maros-Pangkep in South Sulawesi in Indonesia.

The decision is based on a recommendation from the Council on Ethics of 19 December 2022.

The Executive Board has not conducted an independent assessment of all aspects of the recommendation but is satisfied that the observation criteria have been fulfilled.

The Council on Ethics’ recommendation:

PT Semen Indonesia (Persero) Tbk PT

Press contact:

Line Aaltvedt
Head of Media
Tel: +47 948 54 656
Email: press@nbim.no