Freeport-McMoRan is a leading responsible copper producer - Foremost in Copper. Our commitment to responsible copper production is visible in everything we do, driven by our core values of Safety, Respect, Integrity, Excellence and Commitment. Our values direct the decisions we make as a company and as individual employees. These values represent who we are and how we work – everyone, everywhere, every day. Our focus on responsible production is critical to establish and maintain acceptance from our local stakeholders through shared value creation and to meet society's responsible sourcing objectives necessary to supply the world with responsible copper.

Defining and implementing responsible production at Freeport-McMoRan is an iterative process focused on continuous improvement. The process incorporates our internal governance and policies as well as our external voluntary commitments. Ongoing stakeholder engagement is fundamental to informing our policies and processes as well as for sharing best practices and our performance across various environmental, social and governance (ESG) topics. Regular measurement and reporting supports our understanding of our current performance and the actions we need to take to improve. Third-party validation of our reporting supports us in meeting our internal and external commitments. The graphic below describes how we implement responsible production at Freeport-McMoRan.



At Freeport-McMoRan, sustainability is embedded in our values and business strategy. Governance and oversight of sustainability at the company starts with the Board of Directors (the Board) and cascades through leadership to our sites. Good governance requires strong leadership to ensure that the values of the company are integrated into everyday operations and business decisions. It also means having the structures and processes in place to facilitate decision-making and actions that advance the interests of our stakeholders.

Board of Directors


The Freeport-McMoRan Board oversees and guides the company’s business strategy. One of the Board’s primary responsibilities is to provide risk oversight on the company’s policies and practices and their implementation throughout the organization.

In its risk oversight role, the Board reviews, evaluates and discusses with members of management whether the risk management processes designed and implemented are adequate in identifying, assessing, managing and mitigating material risks facing the company.

To support its risk oversight responsibilities, the Board has four standing committees, each composed entirely of independent directors: Audit, Compensation, Nominating and Corporate Governance, and Corporate Responsibility. Each committee regularly reports to the full Board.

For additional details on our Board, its committees, charters and governance, please refer to Freeport-McMoRan’s 2020 Proxy Statement and the Corporate Governance section.

Corporate Responsibility Committee

The Corporate Responsibility Committee (CRC), on behalf of the Board, is responsible for providing oversight to the company’s management team on environmental and social matters. The CRC regularly reviews the effectiveness of management’s strategies, programs and policy implementation with respect to health and safety, security, human rights, employees and communities (including inclusion and diversity initiatives), the environment – including climate-related risks and opportunities, water management, tailings stewardship, community investment programs, government and stakeholder relations, and political and charitable contributions.


During 2019, the CRC met three times, and our CRC Chair attended a site visit at our Sierrita and Miami operations in Arizona. The CRC also received an update on management’s engagement with the financial sector on key ESG matters, received various reports and considered numerous items with a particular focus on the topics in the sidebar.

Sustainable Development Leadership Team

Our Chief Executive Officer (CEO) has ultimate responsibility for the company’s sustainability performance. The company’s Sustainability Development Leadership Team (SDLT) includes members of the management team tasked with defining the sustainability strategy and implementing our policies, systems and programs across the business. The SDLT regularly reports to executive leadership, including our CEO and Chief Financial Officer, and members of the SDLT report to the CRC on key ESG matters.

The SDLT is sponsored by our Senior Vice President and Chief Administrative Officer and is led by our Vice President of Environmental Services and Sustainable Development, with participation from other members of the SDLT including our Chief Operating Officer, business unit Presidents, and Vice Presidents or senior representatives from groups including safety, security, supply chain, human resources, sales, legal, compliance, sustainability and finance functions.

During the year, the team reviewed and addressed key issues and projects including: 

  • Engagement with and membership of the UN Global Compact 
  • Approach to addressing Responsible Production Frameworks, including ICMM Performance Expectations and related future market requirements  
  • Development of the newly adopted Responsible Sourcing of Minerals Policy 
  • Development of the company’s inaugural Climate Change Report 
  • Participation in the Global Tailings Standard development process
  • Feedback on sustainability expectations from financial community stakeholders and ESG rating firms
  • Water management programs
  • Observations from external assurance providers to our sustainability programs and reporting 
  • Planning for El Abra and State of Arizona Human Rights Impact Assessments 

Executive officers are held accountable for the company’s sustainability performance through the company’s performance-based annual incentive program (AIP). Sustainability metrics (ESG) collectively account for 25% of the AIP.


Principles of Business Conduct

At Freeport-McMoRan, we are guided by our Principles of Business Conduct (PBC). Our PBC is the cornerstone of our commitment to ethical business practices.

It sets forth the global system of principles that our workforce must follow in all activities – from complying with laws to avoiding conflicts of interest to treating fellow colleagues and stakeholders with respect. The PBC highlights our core values – Safety, Respect, Integrity, Excellence and Commitment – and provides guidance for the application of these values to our business. It also defines the expected behavior of all of our employees and the Board itself.

Our PBC and corporate governance guidelines, along with the charters of our Board committees, provide the framework for the governance of our company and reflect the Board’s commitment to monitor the effectiveness of policy and decision-making at both the Board and management levels.

We conduct comprehensive training on our PBC, including annual certification by management-level employees and induction training for all new employees. This process consists of in-person or computer-based trainings and requires employees to certify that they understand it and have no known instances of non-compliance. Managers and supervisors also are responsible for ensuring that the employees who report to them understand these principles. Please refer to the Compliance Line section for more information.

Policies & Practices


Our PBC, together with our global policies and practices, detail our expected behaviors and commitments to our stakeholders. Freeport-McMoRan’s policies are listed below and in the Corporate Governance section.

Anti-Corruption Policy
The purpose of our Anti-Corruption Policy is to help us meet the requirements of the U.S. Foreign Corrupt Practices Act and other relevant anti-corruption laws, including laws in the countries where we operate.


 | Spanish

 | Dutch

 | Bahasa

Social Performance Policy
This policy recognizes the vital role of stakeholder engagement and calls for collaboration with communities, including indigenous and vulnerable populations, to minimize and mitigate adverse impacts and pursue opportunities to maximize benefits.


 | Spanish

Environmental Policy
This policy outlines our duty to minimize the impact of our operations on the environment using risk management strategies based on valid data and sound science and, where practicable, to protect and enhance the quality of the environment in areas where we operate. The policy also includes commitments to achieve ISO 14001 certification at all operating facilities, support biodiversity programs in operational areas, and remediate sites for which we are responsible. 


 | French

 | Spanish

 | Bahasa

 | Dutch

Human Rights Policy
This policy outlines our dedication to respecting and promoting human rights wherever we do business. We respect the rights of all individuals, including employees, suppliers, community members and others who may be potentially impacted by our business. The policy requires us to conduct business in a manner consistent with the United Nations Guiding Principles on Business and Human Rights.   


 | Spanish

 | Bahasa

Inclusion and Diversity Policy
We believe our greatest strength is our people. This policy outlines our commitment to fostering a culture that is safety focused, respectful, inclusive and representative of the communities where we operate. It also describes how we advance our inclusion and diversity principles in the work we do.


 | Spanish

 | Bahasa

Political Activity and Spending Practices
Freeport-McMoRan is committed to the highest level of ethical and legal conduct regarding its political activity and spending practices and to rigorous compliance with applicable laws and regulations. This statement sets forth Freeport-McMoRan's practices regarding political activity and spending, and applies to Freeport-McMoRan and its affiliated political action committees. 


Principles of Business Conduct
The cornerstone of our commitment to integrity is our Principles of Business Conduct, which set forth the global system of principles that our workforce must follow in all activities – from complying with laws to avoiding conflicts of interest.


 | Spanish

 | Bahasa

 | Dutch

Responsible Sourcing of Minerals Policy
We are committed to producing and sourcing minerals and metals responsibly. Respecting human rights and preventing bribery, fraud and corruption are cornerstones of this commitment. Our Responsible Sourcing of Minerals Policy describes our commitment to implementing the OECD Guidelines for Responsible Mineral Supply Chains in Conflict-Affected and High-Risk Areas.


 | Spanish

Safety & Health Policy
This policy establishes our objective of zero workplace injuries and occupational illnesses. The policy provides for the establishment of benchmarks to evaluate our performance in achieving that objective. The policy also addresses the implementation of safety and industrial health audits at our operations on a regular basis. We consider safety and health programs, both on and off the job, to be an investment in our most valuable resource - our people. 


 | Spanish

 | Bahasa

Supplier Code of Conduct
We believe in doing business only with Suppliers who demonstrate the highest standards of ethical business conduct. The Supplier Code of Conduct is based on the Freeport-McMoRan Principles of Business Conduct and is provided to suppliers to ensure that our expectations are understood and followed by everyone involved in the company’s operations. 


 | Spanish

 | Finnish

 | Bahasa

 | Dutch

Audits & Assessments

To facilitate implementation of our policy commitments and objectives, we utilize a combination of audit and assessment programs along with an annual program for site-level third-party assurance of our sustainability framework – including the implementation of our commitments under the ICMM Sustainable Development Framework. Our health and safety management systems and environmental management systems obtain independent certification to Occupational Health and Safety Assessment Series (OHSAS) 18001 and International Organization for Standardization (ISO) 14001, respectively. These systems include corrective and preventive action tracking for internal and external audit findings. Our Tailings Stewardship Program includes inspections and reviews of all active and inactive tailings storage facilities (TSFs). Engineers of Record inspect our operating TSFs on a quarterly basis. Our site-level human rights impact assessments help us apply a human rights lens to our established management systems and test their effectiveness in identifying, mitigating and remediating human rights risks and impacts. In addition to our own audit programs, customers and financial institutions periodically request to conduct sustainability-focused audits or assessments at certain facilities. Our operations are routinely inspected by regulatory agencies of host governments. We believe findings and feedback from these processes provide improvement opportunities. 

Stakeholder Engagement



Freeport-McMoRan believes effective stakeholder engagement is founded on transparency and meaningful dialogue. Our goal is to foster mutual understanding, trust and cooperation with stakeholder groups on a variety of topics.

We have a broad range of stakeholders, including shareholders, employees, communities, customers and suppliers, regulators and policymakers, host governments, and non-governmental organizations. We recognize that interests and concerns of our stakeholders can change over time.  To learn about these changing needs and expectations, we believe ongoing and proactive engagement is imperative.

This dialogue strengthens our company by providing us access to our stakeholders’ valuable perspectives on the topics that matter to them. These conversations inform our Board’s decision-making, including on our policies, practices, programs and initiatives. These engagements are also an opportunity to share information about our strategy, practices and performance.

Responsibility for engaging with stakeholder groups is widely shared across the company and we engage through numerous channels, with dedicated oversight from the CRC and SDLT. We maintain an ongoing, constructive and proactive shareholder and non-financial stakeholder engagement program through the year.

In 2019, at the corporate level, the company engaged with organizations ranging from sustainability analyst firms, financial institutions, non-governmental organizations, governmental institutions, industry groups and civil society organizations regarding our sustainability programs and performance. At our operations, we regularly engage with local and regional community stakeholders, development institutions and civil society organizations. Our community engagement takes a variety of forms including community foundations, our formal grievance systems, community liaison officer interactions, workshops, participatory group panels, town hall meetings and specific surveys. We believe that effective stakeholder engagement can help reduce sustainability-related risks and enable us to continue to deliver positive contributions to society.


Voluntary Memberships & Commitments

Freeport-McMoRan is a member of numerous industry associations and we are involved in various organizations that provide a platform for advancing sustainability. We recognize the importance of collaboration with other thought leaders to help drive change and progress, and we believe regular engagement with stakeholders is fundamental to our own success. Through this work, we are able to listen to the views of a multitude of stakeholders, while also forming industry agreements and positions on our responsibilities across ESG issues and throughout the value chains to which we contribute.

Together with our internal policies, these commitments or engagements enable us to take meaningful action for our industry and our operations. The table below outlines our participation in a selection of these initiatives and external standards.

The International Council on Mining & Metals (ICMM) is an organization dedicated to a safe, fair and sustainable mining and metals industry. As a member company, we are required to implement the 10 Mining Principles, produce an externally verified sustainability report in accordance with the Global Reporting Initiative (GRI) Standards Core option and the G4 Mining and Metals Sector Supplement, subject to the ICMM Assurance Procedure. FCX was a founding member of the ICMM in 2001.  
The International Copper Association (ICA) brings together the global copper industry to develop and defend markets for copper and to make a positive contribution to society’s sustainable development goals. FCX has been a member since its inception in 1989.
The United Nations Global Compact (the Compact) is a voluntary, corporate sustainability initiative of CEO commitments to implement universal sustainability principles and to support UN goals. FCX became a supporting member in March 2020.
The United Nations Guiding Principles on Business and Human Rights (UNGPs) are the global standard on business and human rights, providing a blueprint for companies to prevent and address the risk of adverse human rights impacts related to their business activities. FCX updated its Human Rights policy to include a commitment to the UNGPs in 2015.
The Extractive Industries Transparency Initiative (EITI) is the global standard to promote transparent and accountable governance in the extractives sector. FCX has endorsed and been committed to the EITI since 2008.
The Voluntary Principles (VPs) is a multi-stakeholder initiative that promotes implementation of a set of principles that guide companies in providing security for their operations in a way that respects human rights. The VPs are the guidelines for our security programs. FCX was a founding member of the VPs in 2000 and remains and active member today.
The United Nations Sustainable Development Goals (SDGs) are the UN agreed priority areas for global sustainable development between 2015 and 2030. We seek to make a positive contribution to the goals in the communities where we operate as well as with the commodities we produce.
The Task Force on Climate-related Financial Disclosures (TCFD) is an organization established by the Financial Stability Board to develop a set of recommendations on climate-related financial risk disclosures to be adopted by companies. We are committed to aligning our climate strategy and related disclosures with the TCFD in the coming years. 
The Wildlife Habitat Council (WHC) is a non-profit organization that promotes and certifies habitat conservation and management on corporate lands through partnerships and education. We have been a member of the WHC since 2006.
We have been an active participant in the Business for Social Responsibility multi-industry human rights working group since it was first established in 2012.
We participate in and engage with the Corporate Human Rights Benchmark to enhance our transparency and performance in this critical area.
We participate in the Fund for Peace Security, Rights and Development Roundtable as part of our commitment to continuously improve our human rights programs.

We are reporting in accordance with the GRI Standards core option and the G4 Mining and Metals Sector Supplement. We have reported under GRI guidelines annually since 2005.

Our mining operations maintain Environmental Management Systems certified to the International Organization for Standardization ISO 14001 standards. Our framework for managing risks and compliance obligations is certified in accordance with the internationally recognized Occupational Health and Safety Assessment Series (OHSAS) 18001 Standard.

We maintain a corporate group certification to the Occupational Health and Safety Assessment Series OHSAS 18001.
We participate in Sustainability 50’s multi-industry dialogue on human rights and other sustainability topics.

Industry Associations

We actively participate in associations at international, national, regional and local levels. Many of these organizations, such as those listed below have sustainability-related programs or initiatives. We maintain membership in these organizations and directly participate in committees or governance bodies and / or provide funding in addition to membership dues.


Defining Responsible Production

Freeport-McMoRan is Foremost in Copper. Critical to this is our role in setting the benchmark for Responsible Production in the industry. Being a Responsible Producer means integrating sustainability in everything we do, everywhere, every day. This includes understanding the needs of our local and global stakeholders and working with institutions, partners and associations to innovate and drive change across the industry. We do this by identifying the commitments that will move the industry forward and enable us to make meaningful advancements at our operations and in our supply chains, such as the UNGPs and the VPs. Being a Responsible Producer also means purposefully working toward achieving the SDGs within our local communities as well as in our value chains. We work globally to translate these commitments to our business via the development of common industry frameworks.

Framework Development

In 2019, we continued our work with both the ICMM and ICA to develop site-based sustainability frameworks that aim to provide greater assurance and transparency to stakeholders while continuously improving conditions at our operations.

Following comprehensive engagement with stakeholders, ICMM membership approved and published 38 performance expectations in late 2019, designed to augment its long held 10 Mining Principles for sustainable development. These expectations, along with topic specific Position Statements and assurance and validation requirements, define ICMM’s membership commitments. The 38 performance expectations must be validated by a third-party at a site level, with annual activities published, including how expectations will be met where a site falls short.

XXXXXXAlso in 2019, the ICA developed a continual improvement responsible production framework called the Copper Mark. This voluntary framework requires that copper producers undertake third-party assessments against their performance on 32 requirements across ESG issues. The Copper Mark framework currently is focused on copper producers at the beginning of the supply chain, but it intends to develop criteria for fabricators and component producers in the coming years with the goal of establishing a chain of custody for downstream companies, such as automobile and electronics producers.

While both frameworks are functionally equivalent, the Copper Mark is designed specifically for the copper industry and intends to grow to connect the entire value chain for copper over time. In both cases, Freeport-McMoRan played a key role in the development of the requirements. In 2019, ahead of ICMM's required timing and Copper Mark's launch, all FCX sites self-assessed against both sets of criteria and Cerro Verde underwent third-party validation. 

For results, please refer to our 2019 External Assurance Statement.



The Risk Register

XXXXXXBeing a Responsible Producer also means evaluating ourselves against our commitments at both a site and corporate level and reporting regularly to our stakeholders in a transparent manner.

In order to translate our commitments to our everyday work, we use our Sustainable Development Risk Register (the Risk Register) process globally to identify and prioritize sustainability risks and actions. Identified risks are mitigated using local and global topic specific management strategies. The Risk Register prioritizes the most significant risks that could have negative consequences to our business and our stakeholders across areas including health and safety, human rights, environmental management, community development, and economic impacts.

By doing so, the Risk Register enables teams to prioritize their work and uncover unidentified risks in addition to examine new opportunities that can further drive our commitment to sustainable development. For example, the nature of the issues present at a mine in an arid region versus a tropical region are different as are the issues present at a location with political instability versus those in a location with stability. We work collaboratively to implement our various commitments, and use of the Risk Register allows management teams to tailor their site-level priorities, while ensuring the overall implementation is consistent globally.

Implementation of the Risk Register

The corporate Sustainable Development department works with subject matter experts globally to develop and maintain the Risk Register, updating it with new topics as they become relevant and working hand in hand with operations’ team members so that prioritization processes are consistent with corporate procedures. The risks included in the Risk Register are mapped from our commitments to enable the Risk Register to be the focal point of internal and external assurance at both the corporate level and operating sites. In 2019, we updated the Risk Register to include all 38 Performance Expectations as well as Copper Mark requirements. We have also mapped the SDGs to the Risk Register to support identification of challenges and opportunities to progress our contribution across the goals.

Project Development Sustainability Review

Our Project Development Sustainability Review process supports the integration of sustainability considerations into development or expansion project phases. The review process also complements our operational Sustainable Development Risk Register procedure for existing operations. 

The process is designed to help multi-disciplinary project teams identify risks, unintended consequences, trade-offs and opportunities so they may be addressed early and through each stage of project development. Project Development Sustainability Reviews may occur at the scoping, prefeasibility, feasibility and/or engineering and construction stages of projects and also are applicable to exploration projects.

This review complements our operational Sustainable Development Risk Register procedure for current operations. Since its inception in 2011, we have implemented reviews for 32 projects, including five during 2019. Key focus areas  identified at different project stages include access to water, energy and materials, potential impacts to hydrology, air quality, biodiversity, human rights, community receptivity, economic impacts, and land acquisition and resettlement.

Economic Value Contributed


We contribute to the wealth and prosperity of the countries, regions and communities where we operate by generating economic value that includes tax and royalty payments, local hiring and procurement, and community investments. Mining is an inherently cyclical business with production levels and profits fluctuating over the life of the mine, which can impact our social investments and other sustainability programs.

In 2019, Freeport-McMoRan’s direct economic contributions totaled $13.6 billion, which includes $9.6 billion in payments to suppliers, $2.4 billion in employee wages and benefits, $1.0 billion in payments to providers of capital, $415 million in taxes, royalties and other payments to governments, and $100 million in direct community investments. We also made payments of $2.7 billion for capital expenditures. Please refer to our 2019 Annual Report for more detailed information on our financial performance and to page 38 of our 2019 Annual Report on Sustainability for more information on our 2019 community investments.



XXXXXXPurchasing goods and services from local suppliers provides a significant direct and indirect benefit to our local communities. Our investment in local communities helps to support the economic vitality of small and medium size enterprises and local entrepreneurship. When we purchase locally, we provide the stimulus for community development and the potential for capacity building. In 2019, we advanced a global project to develop a Responsible Sourcing program. As we implement the Responsible Sourcing framework, we will focus on improving visibility of local spend and increasing opportunities for local suppliers where appropriate. We will continue to collaborate with organizations to provide local suppliers with opportunities for capacity building and to assist in identifying local suppliers that meet our purchasing needs.


The company commissioned the L. William Seidman Research Institute at Arizona State University to develop annual economic impact reports where the company has operations in Arizona, Colorado, New Mexico and Texas. Fact sheets from the reports are provided below.



New Mexico



In May 2019, Apoyo Consultoria completed a study aimed to identify and estimate the impact (direct and indirect) of Cerro Verde’s activities on the local city of Arequipa and national economy of Peru from 2005 to 2018. Titled “Analysis of the Impact of Cerro Verde Mining Company in the Economy of Arequipa and Peru,” the study concluded that Cerro Verde has had significant impact on both the regional and national economies in terms of employment, family income and tax revenue. Cerro Verde’s operations and investments generated an average impact of 2%  of Peru’s national gross domestic product through linkages with other sectors. The site’s contributions enhance economic activity in Arequipa and the country through its domestic purchases.


PT-FI’s presence has spurred rapid economic growth and development in Timika and surrounding areas, which has transformed the area into an important economic center in the region. As a result, Timika has witnessed high-population in-migration from other parts of Papua, as well as all of Indonesia, as people are in search of employment opportunities and improved health and education infrastructure.

In the real income sector, program implementation aligns with government development plans focused on community empowerment programs, especially in villages directly impacted by our mining operations. Partnership and collaboration will be the main themes of social investment programs that encourage optimizing benefits for local communities.

Highlands Economic Value Creation

Economic development initiatives focus on the indigenous highland communities which surround our operations: the Waa Valley consisting of the Tsinga area with eight villages and hamlets, the Arowanop valley with its six villages, the Jila area in the eastern part of Amungsa with its nine villages and hamlets, and the Hoea area with its four coffee-producing villages and hamlets. In 2019, PT-FI provided agricultural assistance to 158 coffee farmers supplying coffee to the Amungme Gold Coffee Cooperative. This assistance focused on coffee planting and production, as well as managing food security programs in Highland areas. PT-FI also provided capacity building to the Papuan staff running the cooperative. Farmers produced 3.5 tons of coffee from 35 hectares valued at over $65,000 during 2019.

Lowlands and Coastal Economic Value Creation

In 2019, economic development initiatives continued to focus on the indigenous communities in five lowland Kamoro villages and three coastal villages. Focus was on fisheries production where 116 participating fishermen produced 17.6 tons of fish with revenue of valued at $14,700. PT-FI also distributed 1,000 catfish fingerlings and 2,600 tilapia fingerlings to freshwater fishpond operators.

Through our coconut initiative , we worked with 368  groups of farmers on 171 hectares of land and distributed 26,130 coconut seedlings. In 2019, 177 households participated in our vegetable program and collectively generated revenue in excess of $178,000.

PT-FI’s agriculture and husbandry program for  437 farmers in two Lowlands villages who produced broiler chickens, eggs and pigs withcombined revenues of nearly $3 million, an 11% increase over 2018.

The Amungme and other indigenous groups in the Lowlands grow, harvest, process and sell cacao with the assistance of local cooperatives to stimulate economic growth and reduce dependence on PT-FI. Cacao farmers were losing a sizable portion of their harvest during the drying stages because Papua is very humid and wet with limited amounts of direct sunlight. To address this issue, PT-FI, Freeport-McMoRan, Arizona State University’s School of Sustainability and the local cacao cooperative Dewa Buah partnered to develop a simple, effective cacao greenhouse dryer constructed from local materials. This system reduced losses through a simple, sustainable solution requiring no electricity. Through its broader cacao development initiative, PTFI worked with 325 farmers (55% Papuan) farming 207 hectares and assisted in the distribution of 8,500 cacao trees be planted by participating farmers.

Economic Empowerment 

The Indonesia Ministry of Energy and Mineral Resources includes self-reliance as one of eight categories the private sector must strive to achieve as part of its Community Development and Empowerment Programs. The Ministry defines self-reliance as an independent business not dependent upon private sector support.

During 2019, PT-FI provided capacity building assistance, mentoring and guidance to 182 Papuan entrepreneurs through the company’s Micro, Small and Medium Enterprise (MSME) program. Of these, 70% were from the seven local ethnic groups (collectively known as the “seven suku”) and 54% were women. In turn, participants employed 1,477 people from the surrounding communities through their businesses, which provide various goods and services to both PT-FI and others in the region. Total revenue from these businesses in 2019 generated $18.3 million, a 28% increase from 2018.

PT-FI continued its multi-year agreement with Bank Rakyat Indonesia (BRI) to increase Papuan entrepreneurs’ access to financial capital to grow their small businesses. In 2019 seven Papuan entrepreneurs received a total of $121,000 in micro-loans from BRI while three Papuan entrepreneurs received $29,000 through PT-FI’s Revolving Fund initiative. BRI administers all micro-loans with PT-FI both underwriting the loans and connecting its Papuan entrepreneurs to BRI. The goal is to transition these borrowers from the PT-FI Revolving Fund initiative to BRI providing direct professional support and sustainable access to capital access to Papuan entrepreneurs.

Performance Targets

Performance Targets