News

Thursday, March 16, 2017

EDC honored with Anvil Hall of Fame award for excellent annual reports

The country’s leading geothermal company, Energy Development Corporation (EDC) of the Lopez Group, has been elevated to the Anvil Awards’ prestigious Hall of Fame this year after winning five Gold Awards for its outstanding annual performance reports.

EDC’s five Gold Anvil awardees are truly exceptional annual reports deviating from the standard format for similar publication. The company’s yearly performance encompassing operational and financial results, as well as CSR, environmental management, and corporate governance achievements are presented using engaging narratives, vibrant photos and infographs, making it more interesting and reader-friendly.

The five annual reports that bagged Gold Anvils are A New Beginning (2007), Greenergized (2008), Values @ Work (2010), It’s Possible (2012) and Execute and Deliver (2014). The first two reports narrated EDC’s transition from being a government-owned-and-controlled corporation to being a publicly-listed and fully-privatized firm after its acquisition by the Lopez Group.

For the 2010 annual report, EDC integrated the company’s annual and sustainability performance following the Global Reporting Initiative’s (GRI) sustainability reporting framework. It was the first Philippine report to be certified as fully compliant with the GRI framework. Using the GRI framework has enabled the company to benchmark its performance against global best practices as it measured its economic, environmental, and social impact. This and all succeeding reports were externally assured by a panel of experts in sustainability.

In 2013, EDC released its first GRI level A+ report entitled “It’s Possible.” It was rated A+ by the GRI for the company’s disclosure on all relevant key performance indicators using the Electric Utilities Sector Supplement for sustainability reporters. This report garnered the fourth Gold Anvil for EDC.

EDC’s fifth Gold Anvil Award was bestowed on its 2014 performance report, “Execute and Deliver,” which reported not only on the company’s record high recurring net income of P9.3 billion but also on its environmental, social, and governance (ESG) performance.

“We recognize that integrated annual and sustainability reporting is an emerging global trend that allows us to give our stakeholders a holistic view of our performance. Using the GRI framework paved the way for us to tell our sustainability story in a systematic manner that reflects how we continuously manage the resources that we measure each year,” EDC President and COO Richard Tantoco said.

These performance reports also narrate the annual progress of EDC’s BINHI greening legacy and its CSR program named HELEn (Health, Education, Livelihood, and Environment). Through BINHI, EDC reforests 1,000 hectares each year and brings back to abundance vanishing indigenous tree species. Just last year, EDC was able to identify and rescue all of its 96 flagship premium, endangered native tree species under its BINHI Tree for the Future program. Meanwhile, EDC continuously empowers its primary partner barangays through HELEn to ensure that they grow in pace with the company.

The BINHI Tree for the Future project also bagged a Gold Anvil in this year’s Anvil Awards under the Specialized PR Program category.

Organized by the Public Relations Society of the Philippines (PRSP), the Anvil Awards is considered the Oscars of public relations (PR) in the country. The Gold Anvil is given to outstanding public relations programs and tools that meet the highest standards set in its category. PR programs and tools that have won five Gold Anvil Awards for the same category are elevated to the Hall of Fame.

 

EDC CFO Nestor Vasay and EDC VP for Finance Erwin Avante (3rd and 4th from left) receive the Anvil Hall of Fame for the EDC annual reports and Anvil Gold Award BINHI Tree for the Future project.  L-R:  Anvil chair Rochelle Gamboa, EDC Corporate Communications Specialist Frances Ariola, Nestor Vasay, Erwin  Avante, EDC  CSR Program Specialist Ronino Gibe, EDC CSR Head Tracy Peralta, EDC Corporate Communications Specialist Ivy Henson, EDC Corporate Communications Head Toni Nieva and PRSP President Ron Jabal.

 

Wednesday, March 8, 2017

NOTICE OF 2017 ANNUAL STOCKHOLDERS’ MEETING

To all shareholders of the Energy Development Corporation

 

 

The Company’s By-Law currently provide that the annual stockholders’ meeting shall be held on the first Tuesday of May of each year, May 3, 2016. However, the finalization of the Company’s audited financial statements and compliance with the regulatory requirements for distribution of digital copies of the Information Statement and related materials for the meeting will require the postponement of the meeting by at least a week.

 

The Board approved the holding of the annual stockholders’ meeting of Energy Development Corporation on May 8, 2017, at 10:00AM at the PSE Auditorium located at the Philippine Stock Exchange Centre, Exchange Road, Ortigas Center, Pasig City.

 

The record date for stockholders’ entitled to notice and to vote at the meeting is on March 15, 2017.

 

Click HERE to view our disclosure on the 2017 Annual Stockholders’ Meeting.

Monday, March 6, 2017

EDC BacMan turns over 7 deer to Albay Park & Wildlife to mark World Wildlife Day

The Bacon-Manito Geothermal Project (BacMan) of Energy Development Corporation (EDC)  donated three Philippine Brown Deer and four Javan/Australian Deer to the Provincial Government of Albay (PGA) and Albay Park and Wildlife in celebration of  World Wildlife Day (WWD) on March 3.  The seven deer are among the animals being bred and protected by EDC in its BacMan nursery and wildlife rescue center.

 

BacMan Vice President Liberato Virata and Albay Governor Al Francis Bichara earlier signed a Deed of Donation at Casa Lorenzo in Legaspi  to formalize the donation.  The deer will be sheltered in the Albay Park and Wildlife where they will be protected and included among the park’s attractions and educate the public on the importance of wildlife conservation.

 

As part of the WWD celebration, the PGA, BacMan and the Department of Environment and Natural Resources (DENR) also released five predatory birds in the BacMan geothermal reservation which is an identified Key Biodiversity Area in the region.  The celebration was held at the BacMan nursery and wildlife rescue center in Manito, Albay.

 

“We are pleased to participate and partner with the PGA and DENR in this important event. Environmental stewardship is integral to our geothermal operations. BacMan will continue to advocate biodiversity conservation including wildlife rescue and preservation,”  BacMan Vice President Liberato Virata said.

 

BacMan implements a comprehensive watershed management and biodiversity conservation and monitoring program including wildlife conservation which is enrolled under the DENR’s Adopt-A-Wildlife-Species (AAWS) program.  Through the program, EDC acts as the adopting entity of particular wildlife species throughout its five geothermal sites. In BacMan, special focus is given to the conservation of the Large Flying Fox, Golden Crowned Flying Fox, Philippine Warty Pig, Philippine Brown Deer and Philippine Eagle Owl.

 

The BacMan geothermal reservation has previously served as the venue for wildlife release and other environment-themed celebrations.  In 2015,  three serpent eagles were released in the reservation. The Serpent Eagles were rescued by EDC and DENR from illegal poaching activities and were nurtured back to health by EDC BacMan’s watershed management team.

 

The EDC BacMan Geothermal Reservation covers 25,000 hectares of protected forest area and is a recognized model of sustainable development for successfully harmonizing its 140-MW geothermal power operations with environmental protection.

 

Signing of the Deed of Donation 

L-R:  DENR Region 5 Regional Director Crisanta Marlene ROdriguez, Albay Governor Al Francis Bichara and EDC BacMan Vice President Liberato Virata 

Release of raptor in BacMan geothermal reservation

L-R: DENR Region 5 Asst. Regional Director Roberto Sheen, EDC BacMan Vice President Liberato Virata and Albay Provincial Veterinary Office Chief Dr. Florencio Adonay