Dicky Yordan’s leadership at Indonesia’s PT TBS Energi Utama Tbk is a testament to 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.
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.
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 subsequently provided him with the necessary acumen to navigate the complexities of TBS’s ambitious transition. Since joining TBS in 2017, Yordan has continually demonstrated an ability to manage challenges, foster innovation, and advance the company towards sustainable success.
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. The company recently made the strategic decision to divest its coal-fired power plant (CFPP) business. This decisive action is expected to cut the company’s carbon emissions by over 80%, reducing approximately 1.3 million tonnes of CO2 equivalent (tCO2e) annually. This transition not only aligns with global sustainable development goals but also positions TBS as a pioneer in Indonesia’s energy sector. TBS has reduced its focus on coal mining and coal-fired power plants while expanding its portfolio to include greener alternatives.
Several key milestones mark Yordan’s tenure as President Director. 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, further showcasing TBS’s commitment to sustainable growth. Under his leadership, the company’s assets have grown significantly, with most new investments supporting green business initiatives.
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.
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. This inclusive culture is essential as the company navigates the shift from traditional energy to more sustainable practices. With approximately 1,200 employees, TBS emphasises on learning and development, offering programs focused on leadership training, communication, and diversity and inclusion. Yordan believes that success is not only measured by financial achievements but also by the positive impact on people and the respect and kindness shown to all employees.
While the past three years have not been without 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, which caused a sharp increase in coal prices, presented both obstacles and opportunities. Yordan’s strategic vision enabled the company to navigate these uncertainties and capitalise on new prospects, further reinforcing his ability to lead through change.
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.
