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This factsheet by Trend Asia criticizes the April 2023 Initial Public Offering (IPO) of PT Trimegah Bangun Persada Tbk (NCKL), a subsidiary of the Harita Group. The document alleges that the IPO funds will exacerbate environmental destruction, social displacement, and labor safety violations associated with the group's nickel smelting operations on Obi Island, North Maluku. It further claims that the involvement of various international investors and underwriters contradicts their public commitments to the Paris Agreement and net-zero emissions targets.

This fact sheet by Trend Asia criticizes the April 2023 Initial Public Offering (IPO) of PT Trimegah Bangun Persada Tbk (NCKL), a subsidiary of Harita Group. The document alleges that the company's nickel mining and smelting operations on Obi Island cause severe environmental degradation, human rights violations through forced relocation, and workplace fatalities, while relying on coal-fired power plants that contradict international climate commitments.