Judul: The Effect of ESG Risk Rating on Company Performance  and Value in Indonesia
Abstrak: Peningkatan kesadaran masyarakat akan isu ESG (Environmental, Social, dan Governance) menyebabkan tren investasi ESG meningkat. ESG berkaitan dengan SDGs sehingga ESG dijadikan salah satu parameter pelaksanaan pembangunan SDGs dalam industri keuangan di Indonesia. Namun, implementasi ESG di Indonesia masih menghadapi beberapa kendala, padahal risiko ESG terkait dan berpotensi dapat menggambarkan kinerja dan nilai perusahaan. Penelitian ini bertujuan untuk menganalisis pengaruh ESG risk rating terhadap kinerja operasional, kinerja keuangan, dan nilai perusahaan di Indonesia. Sampel dipilih menggunakan teknik purposive sampling dengan jumlah sampel sebanyak 19 perusahaan yang termasuk dalam indeks IDX ESG Leaders (IDXESGL) yang konsisten tercatat pada 5 periode evaluasi mayor pada Maret 2021 – Maret 2023 sehingga jumlah sampel observasi adalah 95 observasi. Analisis data dilakukan menggunakan analisis statistik deskriptif dan regresi data panel menggunakan Microsoft Excel dan Eviews 9. Hasil analisis data menunjukkan ESG risk rating tidak berpengaruh signifikan terhadap kinerja operasional (ROA), kinerja keuangan (ROE), dan nilai perusahaan (Tobin’s Q)., The increased awareness of society towards ESG (Environmental, Social, and Governance) issues led to a rise in ESG investment trends. ESG was related to SDGs, making it one of the parameters for implementing SDGs in the financial industry in Indonesia. However, the implementation of ESG in Indonesia still faced several challenges, even though ESG risks are related and have the potential to depict company’s performance and value. This study aimed to analyze the effect of ESG risk rating on operational performance, financial performance, and company value in Indonesia. The sample was selected using a purposive sampling technique, consisting of 19 companies listed in the IDX ESG Leaders index (IDXESGL) that consistently recorded over 5 major evaluation periods in March 2021 - March 2023, resulting in total of 95 observational samples. Data analysis was performed using descriptive statistical analysis and panel data regression using Microsoft Excel and Eviews 9. The results of data analysis indicated that ESG risk rating did not have significant effect on operational performance (ROA), financial performance (ROE), and company value (Tobin's Q).
Keyword: company value, ESG risk rating, financial performance, operational performance, SDGs

Judul: The Impact of ESG on Corporate
Performance: A Systematic Literature Review
Abstrak: Penelitian ini mengevaluasi pengaruh Environmental, Social, and Governance (ESG) terhadap kinerja perusahaan. Penelitian ini dilatarbelakangi oleh meningkatnya urgensi untuk mengimplementasikan ESG yang tidak diikuti dengan informasi dan data yang memadai. Tujuan penelitian ini adalah menganalisis perkembangan praktik ESG, dampaknya terhadap kinerja perusahaan, serta pelajaran yang dapat diambil untuk perkembangan ESG di Indonesia. Metode penelitian yang digunakan adalah systematic literature review. Hasil penelitian menunjukkan perkembangan praktik ESG dikategorikan ke dalam tahap eksplorasi awal, menengah, dan lanjutan. Implementasi ESG berdampak terhadap kinerja keuangan, mencakup peningkatan kinerja dan pengurangan risiko keuangan, serta investasi dan obligasi. ESG juga berpengaruh pada aspek non-finansial, meliputi reputasi, manajemen dan tata kelola, dan keberlanjutan perusahaan. Pelajaran yang dapat diadopsi di Indonesia adalah pembuatan regulasi, peningkatan literasi ESG, perluasan akses investasi, dan integrasi tujuan finansial dengan ESG., This study evaluates the impact of Environmental, Social, and Governance (ESG) on corporate performance. The research is motivated by the increasing urgency of ESG implementation that has not been supported by adequate information and data. The study aims to analyze the development of ESG practices, their impact on corporate performance, and lessons for the development of ESG in Indonesia. The research method used is a systematic literature review. The results indicate that the development of ESG practices can be categorized into initial exploration, intermediate, and advanced stages. ESG implementation affects financial performance by improving performance and reducing financial risk, as well as influencing investments and bonds. ESG also impacts non-financial aspects, including corporate reputation, management and governance, and sustainability. Lessons that can be adopted in Indonesia include the creation of supportive regulations, increased ESG literacy, expanded investment access, and the integration of financial goals with ESG.
Keyword: sustainability, corporate performance, ESG, ESG implementation, literature review, social responsibility

Judul: Hydrothermal Synthesis of Biphasic Calcium Posphate
Abstrak: Biphasio calsium phosphate (BCP), which was a mixture of hydroxypatite (HA) and tricalcium phosphate (TCP), was synthesized by hydrothermal method followed by sintering process. Hydroxyapatite was produced by using natural calcium source CaO from hen's eggshell and (NH4)2HPO4 as phosphate souce, other hydroxyapatite sample was produce by using synthetic calcium source Ca(OH) and H3PO4 as phosphate source.
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