Geothermal leader Energy Development Corporation (EDC) has recently been included in the FTSE4Good Emerging Index for its strong Environmental, Social and Governance (ESG) practices and was cited by CSR Asia Weekly as the top PH company admired by CSR professionals.
FTSE4Good is an equity index series created by global index provider FTSE Russell, part of London Stock Exchange Group, designed to help investors integrate environmental, social and governance (ESG) factors into their investment decisions. The indexes identify companies that better manage ESG risks and meet globally recognized and stringent corporate responsibility standards.
The FTSE4Good Emerging Index was launched in December 2016 and covers over 20 emerging countries. Companies which manufacture or produce tobacco, weapons systems, and coal are excluded from the index series.
Meanwhile, Asia-Pacific Region publication CSR Asia Weekly ranked EDC first in the Philippines and no. 6 in Asia Pacific among companies that Corporate Social Responsibility professionals admire.
The result was culled from a survey conducted among 500 CSR managers, consultants and NGO professionals by CSR Asia, one of the leading providers of research, training and advisory services on sustainable business practices in Asia.
According to the published report, EDC, a new entry in the list of outstanding companies doing sustainable CSR work, was given a thumbs up for programs they have implemented that seek to improve the lives of the people and protection of the environment.
Apart from being a global diversified renewable power company, EDC implements comprehensive environmental management and corporate social responsibility programs that ensure inclusive growth and enhance the ecosystem in areas where it operates.
“For over 40 years, we have strived to make a positive impact on the environment and our host communities as we generate clean, renewable energy to power our country. Creating harmony for our business, the people around us, and our planet has always been at the heart of our sustainability strategy,” said Richard B. Tantoco, EDC president and COO.
EDC’s Health, Education, Livelihood, and Environment (HELEn) program has been consistently recognized for its success and sustainability.
EDC, the country’s leading producer of geothermal energy, likewise measures its own economic, environmental, and social impact and discloses it every year through its annual performance report following the Global Reporting Initiative’s most widely used reporting framework. A copy of its report may be downloaded from www.energy.com.ph/sustainabili
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.