News

Saturday, February 4, 2017

EDC gets global recognition for CSR and ESG practices

Geothermal leader Energy Development Corporation (EDC) has recently been included in the FTSE4Good Emerging Index for its strong Environmental, Social and Governance (ESG) practices and was cited by CSR Asia Weekly as the top PH company admired by CSR professionals.

 

FTSE4Good is an equity index series created by global index provider FTSE Russell, part of London Stock Exchange Group, designed to help investors integrate environmental, social and governance (ESG) factors into their investment decisions.  The indexes identify companies that better manage ESG risks and meet globally recognized and stringent corporate responsibility standards.  

 

The FTSE4Good Emerging Index was launched in December 2016 and covers over 20 emerging countries.  Companies which manufacture or produce tobacco, weapons systems, and coal are excluded from the index series.  

 

Meanwhile, Asia-Pacific Region publication CSR Asia Weekly ranked EDC first in the Philippines and no. 6 in Asia Pacific  among companies that Corporate Social Responsibility professionals admire.

 

The result was culled from a survey conducted among 500 CSR managers, consultants and NGO professionals by CSR Asia, one of the leading providers of research, training and advisory services on sustainable business practices in Asia.

 

According to the published report, EDC, a new entry in the list of outstanding companies doing sustainable CSR work, was given a thumbs up for programs they have implemented that seek to improve the lives of the people and protection of the environment.  

 

Apart from being a global diversified renewable power company, EDC implements comprehensive environmental management and corporate social responsibility programs that ensure inclusive growth and enhance the ecosystem in areas where it operates.  

 

“For over 40 years, we have strived to make a positive impact on the environment and our host communities as we generate clean, renewable energy to power our country.  Creating harmony for our business, the people around us, and our planet has always been at the heart of our sustainability strategy,” said Richard B. Tantoco, EDC president and COO.

 

EDC’s Health, Education, Livelihood, and Environment (HELEn) program has been consistently recognized for its success and sustainability.  

 

EDC, the country’s leading producer of geothermal energy, likewise measures its own economic, environmental, and social impact and discloses it every year through its annual performance report following the Global Reporting Initiative’s most widely used reporting framework.  A copy of its report may be downloaded from www.energy.com.ph/sustainability.

Monday, January 16, 2017

EDC is top PH company admired by international CSR pros

CSR Asia Weekly, a publication distributed in the Asia-Pacific Region, ranked Energy Development Corporation (EDC) first in the Philippines   and no. 6 in Asia Pacific among companies that Corporate Social Responsibility professionals admire.

The result was culled from a survey conducted among 500 CSR managers, consultants and NGO professionals by CSR Asia, one of the leading providers of research, training and advisory services on sustainable business practices in Asia.

According to the published report, EDC, a new entry in the list of outstanding companies doing sustainable CSR work, was given a thumbs up for programs they have implemented that seek to improve the lives of the people and protection of the environment.  

Apart from being a global diversified renewable power company, EDC’s Health, Education, Livelihood, and Environment (HELEn) program has been recognized countless times for its success and sustainability.  More recently, environmentalists and Department of Environment and Natural Resources Secretary Regina Paz O. Lopez lauded the company for identifying and rescuing all of its 96 flagship premium, endangered native tree species under its BINHI Tree for the Future program.

 “In many ways the result of this exercise is no surprise. These companies are communicating their sustainability efforts and consistently score well in sustainability rankings,” CSR Weekly said in its report.

“We know that sustainability is recognized as an important part of many businesses, the extent to which companies are really operationalizing the concept still varies significantly. For some, sustainability is at the heart of its business strategy and is considered in all decisions and it sits on top of its list. However, for many, social and environmental issues are simply an add-on to business as usual,” the report added.

EDC is the country’s leading producer of geothermal energy and a multi-awarded Filipino company in the areas of geothermal development, environmental excellence, corporate governance and corporate social responsibility. 

http://csr-asia.com/csr-asia-weekly-news-detail.php?id=12642

Thursday, January 12, 2017

EDC and Gaisano Capital commission largest solar rooftop system in Iloilo

Energy Development Corporation (EDC) and Gaisano Capital successfully inaugurated the 1.03-MW solar rooftop system in Gaisano Capital’s mall in La Paz District, Iloilo City on January 11.  The solar rooftop system, currently the largest in the province, can supply up to 50% of the mall’s daytime load resulting in significant savings in electricity cost for Gaisano Capital.  More importantly, the system, which sources power directly from the sun and does not require the use of fossil fuels or other harmful gases to operate, will avoid emitting 770 metric tons of CO2 annually.

 

“The solar rooftop systems have come down in price and will continue to do so.  We will harness solar so we can provide cleaner and more affordable energy options to our customers.  Both the customers and environment win so it’s a business we are committed to,” EDC President and COO Richard Tantoco said. 

 

“We are happy to see the completion of our largest solar rooftop project and provide added value to our La Paz customers.  We are one with EDC in promoting the use of and enhancing our operations with cleaner energy technologies.  This is our own contribution to reduce the negative impacts of climate change,” Gaisano Capital Vice President for Operations Edmund Gaisano, Jr. explained.

 

EDC and Gaisano Capital have finalized agreements for the installation of similar solar rooftop systems in the latter’s five other malls in Panay island.

 

The project is EDC’s initial venture in the solar rooftop industry and the latest addition to the company’s clean energy portfolio which includes 1,169 MW of geothermal, 150MW of wind, 132MW of hydro and 7MW of solar energy.  

 

EDC is part of the Lopez Group of Companies.  It is the largest producer of geothermal energy and one of the leading renewable energy companies in the country.