<![CDATA[Driven by the heavy environmental footprint of clinkerization, the cement sector is under profound pressure to pivot toward low-carbon operational models. This paper examines the technological adaptation and operational responsiveness of PT Semen Indonesia (Persero) Tbk (SIG) under the dual impact of Indonesia’s Carbon Economic Value mandate (Perpres 110/2025) and the EU’s Carbon Border Adjustment Mechanism (CBAM). By executing an empirical emission audit on verified 2025 Sustainability Reports coupled with predictive scenario modeling, the study delineates carbon gaps and their financial repercussions. The empirical audit reveals a real emission intensity of 618 kg CO₂/ton of cement (Scope 1: 561 kg; Scope 2: 57 kg). When evaluated against the stringent CBAM threshold of 42 kg CO₂/ton of cement, a substantial excess of 576 kg CO₂/ton of cement emerges, thereby imposing cross-border fiscal liabilities on exported materials. Unmitigated operations at the current output of 30.14 million tons could subject the enterprise to domestic carbon penalties totaling IDR 521.3 billion. Nevertheless, the firm's near-term SBTi-aligned target to slash emissions by 33.7% by 2032 is actively backed by RDF deployment (achieving a 9.77% TSR) and the co-processing of 2.2 million tons of alternative waste. Ultimately, this research advocates for channeling decarbonization initiatives into activity-based green financing frameworks that comply with TKBI Version 2 and POJK 30/2025, capitalizing on the entity’s prominent standing within the IDX ESG Leaders index]]>
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