Geothermal leader Energy Development Corporation (EDC) is the lone platinum awardee in corporate governance as adjudged by the Institute of Corporate Directors (ICD) for the 2011 Corporate Governance (CG) scorecard. The platinum award is bestowed on publicly-listed companies that have obtained a gold rating or 95 percent and above in the ICD’s CG scorecard for three consecutive years. ICD chair Jesus Estanislao said that “EDC is very well disposed to move beyond compliance into higher levels of CG standards and practices observed globally.” The CG scorecard is an annual exercise by the ICD with the Securities and Exchange Commission (SEC), Philippine Stock Exchange (PSE), the Ateneo de Manila University School of Law, and the Institute of Internal Auditors of the Philippines to evaluate publicly-listed companies in terms of shareholders’ rights, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and board responsibilities. EDC chairman and CEO Federico Lopez (second from left) received the award together with EDC director Peter Garruccho Jr. (third from left). Photo shows (from left) ICD president Rex Drilon II, Lopez, Garrucho, SEC Chair Teresita Herbosa, and PSE president and CEO Hans Sicat.