For the third 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. EDC is among the gold awardees scoring 95 percent and above in the 2009 corporate governance scorecard, topping its previous year’s silver award. The Institute of Corporate Directors (ICD) in partnership with the Securities and Exchange Commission, Philippine Stock Exchange, Institute of Internal Auditors of the Philippines, Ateneo Law School, and Center for International Private Enterprise conducted the evaluation in order to assess the compliance levels of Philippine corporations. Shown from L-R are ICD Chairman Dr. Jesus Estanislao, EDC Director Vince Perez, EDC Vice Chairman and CEO Paul Aquino, EDC Chairman Oscar Lopez, EDC President & COO Richard Tantoco, SEC Commissioner Manuel Gaite and Ateneo Law School Dean Cesar Villanueva.
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.