EDC Named in Top 15 Corporations on Corporate Governance

Last April 22, 2009, the Institute of Corporate Directors (ICD) presented to the public the results of the recently concluded Corporate Governance Scorecard Survey, recognizing the efforts of the 15 top-performing publicly-listed corporations (PLCs) for outstanding corporate governance policies and practices.

The Energy Development Corporation (EDC), named last year as among the 20 top-ranked PLCs on Corporate Governance, is again named among the top CG Performers for this year, alongside First Gen Corporation, First Philippine Holdings Corporation, Manila Water Company, Bank of the Philippine Islands, Ayala Corporation and Globe Telecom, to name a few. In a statement released by ICD, it said that “the top scorers have been pushing the Philippines’ overall rating up due to consistently high ratings. The Philippine CG Scorecard average has been steadily climbing over a four-year period due to the corporate governance performances of the aforecited corporations.”

The scorecard is consistent with OECD global principles and best practices in East Asia. It is a tool for compliance: measuring, ranking and tracking progress of PLCs in terms of corporate governance.