Dicky Yordan’s leadership at PT TBS Energi Utama Tbk showcases how vision, resilience, and adaptability can transform a company from a traditional industry player into a sustainability leader. Since his appointment as President Director in 2021, Yordan has skilfully steered TBS through a pivotal transformation, reshaping the company’s focus from coal mining to sustainable energy solutions and low-carbon initiatives.
From Coal Mining to Green Energy
Founded in 2007, TBS Energi Utama began as a coal mining company but has since evolved into a green enterprise, focusing on renewable energy, electric vehicles, and waste management. This strategic pivot, initiated by Yordan, is part of a broader goal to accelerate Indonesia’s transition to a low-carbon economy. Under his leadership, TBS has become a leading figure in the country’s energy transformation, setting a benchmark for other companies in the industry.
A Strong Foundation in Engineering and Finance
Yordan’s educational background and early career laid the groundwork for his success. With a Bachelor of Science in Civil and Environmental Engineering from the University of Michigan and a Master of Science in Financial Engineering from Columbia University, he developed a robust technical and financial skill set. His experience in prestigious financial firms in Jakarta, Singapore, and Hong Kong provided him with the acumen to navigate the complexities of TBS’s ambitious transition. Since joining TBS in 2017, Yordan has consistently demonstrated an ability to manage challenges, foster innovation, and advance the company towards sustainable success.
Pioneering Decarbonization Efforts
One of the hallmarks of Yordan’s leadership is the successful diversification of TBS’s portfolio. The company has shifted from its fossil-based roots toward more sustainable ventures, including renewable energy, waste management, and electric vehicles. A key milestone in this transition was TBS’s decision to divest its coal-fired power plant (CFPP) business. This move is expected to cut the company’s carbon emissions by over 80%, reducing approximately 1.3 million tonnes of CO2 equivalent (tCO2e) annually. By expanding its portfolio to greener alternatives, TBS is positioning itself as a pioneer in Indonesia’s energy sector.
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Global Expansion and Sustainable Growth
Despite the challenges posed by the COVID-19 pandemic, TBS successfully completed several power plant projects on time and within budget. The company has also expanded internationally, acquiring the largest provider of biohazardous and medical waste treatment services in Singapore. Under Yordan’s leadership, the company’s assets have grown significantly, with most new investments supporting green business initiatives.
Commitment to Sustainability Through TBS2030
In 2022, TBS launched its Towards A Better Society 2030 (TBS2030) initiative, a sustainability commitment focused on three core pillars: Thriving Environment, Empowered People, and Trusted Partnerships. The goal is to achieve carbon neutrality, promote sustainable development, and foster community empowerment by 2030. This initiative exemplifies TBS’s dedication to creating a positive, long-lasting impact on both the environment and society.
A Leadership Style Rooted in Inclusivity
Yordan’s leadership style is characterised by open communication, teamwork, and inclusivity. He has cultivated a dynamic work environment where innovation is encouraged, particularly among younger employees. With approximately 1,200 employees, TBS emphasises learning and development, offering programs focused on leadership training, communication, and diversity and inclusion. Yordan believes that success is measured not just by financial achievements but also by the positive impact on people and the respect and kindness shown to employees.
Navigating Global Challenges with Strategic Vision
While the past three years have presented challenges, including COVID-19 and the geopolitical impact of the Russia-Ukraine war, Yordan’s leadership has been instrumental in guiding TBS through turbulent times. The war caused a sharp increase in coal prices, presenting both obstacles and opportunities. Yordan’s strategic vision enabled the company to navigate these uncertainties and capitalise on new prospects, reinforcing his ability to lead through change.
A Vision for a Greener Future
Dicky Yordan’s leadership at TBS Energi Utama exemplifies the transformative power of purpose-driven governance. By demonstrating that profitability and sustainability can coexist, he is paving the way for a greener future for Indonesia and beyond. His achievements highlight the potential of innovative leadership in creating lasting positive change, making him a deserving recipient of the Outstanding Leaders in Asia award by the ACES Awards.
