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6. Internal BCMS Audit was conducted on November 22-24, 2023.7. Management Review of BCMS ISO 22301:2019 implementation in PT Pertamina Hulu Energi Year 2023 was conveyed through the Memo of VP Policy & Risk Management No. 092/PHE41000/2023-S4 dated December 22, 2023.8. The achievement of BCMS Management KPI in 2023 for PT Pertamina Hulu Energi is 110% (in accordance with Letter Pjs. SVP ERM of PT Pertamina (Persero) No. 009/H30000/2024-S4 dated January 23, 2024).Effective risk and crisis management has brought the Company into a stronger position of resilience at the present time and moving forward in the future. The Company have used multi-layer approach to ensure effective identification, awareness, and risk management of our business, including its sustainability risk. This includes the identification of potentially arising business opportunities due to changes in conditions.Risks and opportunities related to sustainability, including those related to climate, have been integrated into the process of risk identification, risk assessment, and multi-disciplinary risk management throughout the Company and this has provided an integrated approach to managing risks which have an impact on strategy and performance, and they include Operations, Market & Finance Category, Credit, Organization, Politics, Compliance with Regulations, Strategy and Reputation, as well as Sustainability. Our Company%u2019s Risk management (ERM system) is based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework.There are two key risks managed by the Company related to sustainability, namely Transition Risk and Physical Risk. In connection with transition risk, there are several downside risks faced by the Company such as:%u2022 Increase of costs Climate change can cause increase in costs, such as cost of energy, water, and insurance.%u2022 Decrease of incomeClimate change can also cause decrease in income, as a result of change in demand for its products and services.%u2022 Damage to assetsClimate change can also damage assets, such as pipeline and refinery.%u2022 Decline of reputationClimate change can also damage reputation if the Company is seen as not taking adequate action for overcoming this problem. 6. Audit Internal BCMS telah dilaksanakan pada tanggal 22-24 November 2023.7. Tinjauan Manajemen atas implementasi ISO 22301:2019 BCMS di PT Pertamina Hulu Energi Tahun 2023 telah disampaikan melalui Memo VP Policy & Risk Management No. 092/PHE41000/2023-S4 tanggal 22 Desember 2023.8. Pencapaian KPI Pengelolaan BCMS di Tahun 2023 untuk PT Pertamina Hulu Energi adalah 110% (sesuai Surat Pjs. SVP ERM PT Pertamina (Persero) No. 009/H30000/2024-S4 tanggal 23 Januari 2024).Manajemen risiko dan krisis yang efektif menempatkan Perusahaan pada ketahanan yang lebih baik dari masa kini hingga masa depan. Perusahaan menggunakan pendekatan berlapis untuk memastikan identifikasi, kesadaran, dan pengelolaan risiko terkait bisnis secara efektif, termasuk risiko keberlanjutan. Hal ini termasuk mengidentifikasi peluang bisnis yang mungkin timbul akibat perubahan kondisi.Risiko dan peluang terkait keberlanjutan, termasuk yang terkait dengan iklim, diintegrasikan ke dalam proses identifikasi, penilaian, dan manajemen risiko multi-disiplin di seluruh perusahaan sebagai bagian dari Hal ini memberikan pendekatan terpadu untuk mengelola risiko yang berdampak pada strategi dan kinerja, dan mencakup Operasional, Kategori Pasar & Keuangan, Kredit, Organisasi, Politik, Kepatuhan Terhadap Peraturan, Strategis dan Reputasi, dan Keberlanjutan. Manajemen Risiko Perusahaan (sistem ERM) berdasarkan pada Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework.Terdapat dua risiko utama yang dikelola Perusahaan yang berkaitan dengan keberlanjutan yaitu Transition Risk dan Physical Risk. Berkaitan dengan transition risk terdapat beberapa downside risk yang dihadapi Perusahaan seperti:%u2022 Peningkatan biayaPerubahan iklim dapat menyebabkan peningkatan biaya, seperti biaya energi, air, dan asuransi.%u2022 Penurunan pendapatanPerubahan iklim juga dapat menyebabkan berkurangnya pendapatan, sebagai akibat dari perubahan permintaan terhadap produk dan layanannya.%u2022 Kerusakan asetPerubahan iklim juga dapat merusak aset, seperti jaringan pipa dan kilangnya.%u2022 Turunnya reputasiPerubahan iklim juga dapat merusak reputasi jika Perusahaan dianggap tidak berbuat cukup untuk mengatasi masalah ini.PT Pertamina Hulu Energi %u2022 Sustainability Report 101