EDC Cited for Good Corporate Governance Performance

For the second time in a row, Energy Development Corporation (EDC), the country’s largest producer of geothermal energy, made it to the elite list of corporations that ranked high in corporate governance.

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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.

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EDC Submits the 2009 CG Scorecard Response

For the third consecutive year, Energy Development Corporation (EDC), submitted its response to the 2009 Corporate Governance Scorecard last October 15, 2009.

The Corporate Governance Scorecard (CGSC) is a project of the Institute of Corporate Directors (ICD) in collaboration with the Securities and Exchange Commission (SEC), the Philippine Stock Exchange (PSE) and the Ateneo de Manila School of Law. The participants’ self-assessment to the 2009 CGSC will be evaluated via a stringent validation process.

In the past two scorecard submissions, EDC’s significant high ratings were recognized by ICD as among the top CGSC scores among all the publicly-listed companies in the Philippines. With the improvements in the company’s corporate governance policies and practices in the past year, better ratings may not be far behind.

To view the 2009 Corporate Governance Response of the Energy Development Corporation, click here.

EDC Annual Report in MAP’s list of Top 20

For the second time in a row, EDC made it to the Management Association of the Philippines’ elite list of best annual reports and bagged the Best in Visual Design.  EDC Vice Chair & CEO Paul Aquino (3^rd from left) receives the award from the board of judges: Businessworld President Anthony Cuaycong, MAP President Joey Bermudez, SEC Chair Fe Barin and PSE President & CEO Francis Lim. The finalists were chosen based on a stringent set of criteria: compliance with the reporting rules and regulations and disclosure in the financial statement, provision of information related to corporate governance, and user-friendliness.  The Awards aims to encourage publicly-listed companies to raise the bar on financial reporting and disclosure practices to international standards.

EDC, AFI Ink Agreement on Bantay-Baterya & Bantay-Langis Projects

A pact for a clean environment.  Energy Development Corporation Vice Chairman & CEO Paul Aquino and ABS-CBN Foundation, Inc. Managing Director Gina Lopez seal agreement to help clean up the environment of pollution-causing junk lead acid batteries and used oil through the Bantay Baterya and Bantay Langis projects, respectively.  EDC will donate its used oil and batteries to AFI which will pick up, transport and recycle/re-refine these industrial materials in tandem with the Philippine Recyclers, Inc (PRI) and Genetron International Marketing.  Aside from recycling the batteries and used oil, PRI and Genetron will also determine the corresponding monetary value and subsequently remit the money to AFI.  The funds to be generated from the projects will be used to support the operations of AFI’s Bantay Kalikasan and Save the La Mesa Watershed Project. The project is compatible with EDC’s sustainable management principle and enables it to participate in a donation program that ensures risk-free disposal of used industrial materials.  Photo shows from L-R: Genetron PCO Jocelyn Panen, EDC SVP Agnes de Jesus, Paul Aquino, Gina Lopez, Genetron President Genovevo Sebastian, and Bantay Kalikasan OIC John Paul Balayon