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.
The Energy Development Corporation (EDC) is a pioneer in generating 100% clean, renewable, and reliable power as an electricity supplier in the Philippines for over 40 years. With power plants all over Visayas and Mindanao, the company is one of the biggest producers of geothermal energy in Asia and is expanding its reach in the international market, allowing it to offer customers affordable energy rates. EDC also strives to provide the best customer service it can to all its clients by having helpful salespeople and easy to understand contracts. Because of all of this, it is poised to become the premier supplier of electricity for the Philippines’ Green Energy Option Program. EDC takes its mission as a renewable energy provider seriously and goes beyond sustainability by investing in programs that enhance the environment and empower its partner communities, thereby fostering regenerative development. The company has also been working toward being carbon-neutral by improving its energy efficiency, as well as implementing various greening projects to ensure that its mission to provide future generations with a better life remains intact.