GRAPI and GRAPI-N for Green Enterprise Risk Management in Four Indonesian Companies

Abstract

This study evaluates the proposed Green Risk-Adjusted Productivity Index (GRAPI) and normalized GRAPI-N using 2024-2025 sustainability data from PT Vale Indonesia Tbk, PT Pertamina (Persero), PT Astra International Tbk, and PT Medco E&P Indonesia. Because entity-specific Medco E&P data are incomplete, traceable MedcoEnergi oil-and-gas segment and combined safety disclosures are used as a bounded proxy. The exploratory longitudinal multiple-case design integrates economic productivity with energy, greenhouse-gas, waste, and occupational-safety indicators. Equal intra-domain weights are the primary specification; CRITIC, entropy, and 60:40/40:60 scenarios assess sensitivity. Heterogeneous reporting boundaries preclude cross-company ranking, so interpretation is limited to within-entity change from each 2024 baseline. Raw GRAPI changed by +0.5% for Vale, -11.6% for Pertamina, -7.9% for Astra, and -3.6% for Medco. Against the common GRAPI-N baseline of 0.5000, equal-weight 2025 scores were 0.2414, 0.2969, 0.4751, and 0.3067. Vale, Pertamina, and Medco remained below baseline in every scenario; Astra ranged from 0.4699 to 0.5223. GRAPI-N is more dimensionally coherent for internal trend monitoring but requires component disclosure, sensitivity analysis, assured data lineage, and non-compensable risk controls.