First Gen-owned renewable energy company Energy Development Corporation was recognized as an ESG champion at the Asia Responsible Enterprise Awards (AREA) 2023. Presented by regional non-profit organization Enterprise Asia, the AREA is widely regarded as the gold standard for ESG and sustainability practices across Asia.
In its Integrated Report (IR) for 2021, EDC showcases its regenerative strategy and commitment to sustainable practices.
EDC’s 2021 Integrated Report serves as a comprehensive tool to engage stakeholders and raise awareness about the company’s financial and Environmental, Social, and Governance (ESG) impact. The report highlights EDC’s mission to be a part of the solution to climate change through regenerative development, emphasizing the importance of value creation and sustainability.
Incorporating the International Integrated Reporting Council (IIRC) framework, EDC’s 2021 IR demonstrates the company’s holistic approach to business and its transformation of investments into valuable outcomes for stakeholders, the country, and our planet.
In its pentad, EDC recognizes five key stakeholders: customers, investors, communities, co-creators, and the environment.
With a focus on stakeholder engagement, EDC emphasizes its dedication to working closely with electric cooperatives, distribution utilities, retail power consumers, local communities, government units, employees, and external partners to create a positive impact through practical interventions.
Read the full 2021 Integrated Report here.
EDC is First Gen Corporation’s 100 percent renewable energy subsidiary with over 1,480MW total installed capacity, which accounts for 20 percent of the country’s total installed renewable energy capacity. Its almost 1,200MW geothermal portfolio comprises 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the third largest geothermal producer in the world.