Geothermal leader Energy Development Corporation (EDC) is once again included in the FTSE4Good Emerging Index for its strong environmental, social and governance (ESG) practices.
The FTSE Russell, a wholly owned subsidiary of the London Stock Exchange Group’s Information Services Division, confirmed that EDC has been independently assessed according to the FTSE4Good criteria and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. EDC has recently received its certificate of membership signifying its inclusion in the FTSE4Good Emerging Index.
Created by the global index provider FTSE Russell in 2001, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong ESG practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
The FTSE4Good Emerging Index was launched in December 2016 and already included EDC as one of its constituents along with other companies from over 20 emerging countries. Companies that manufacture or produce tobacco, weapons systems and coal are excluded from the index series.
Apart from being the country’s leading renewable energy company and one of the world’s largest geothermal producers, EDC implements comprehensive environmental management and corporate social responsibility programs that ensure inclusive growth and enhance the ecosystem in areas where it operates.
“We strive to make a positive impact on the environment and our host communities as we generate clean, reliable and cost-competitive geothermal 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,” stated Richard B. Tantoco, EDC president and chief operating officer.
EDC’s community partnerships and BINHI greening legacy programs have been recognized consistently for their success and sustainability.
EDC has been measuring its own economic, environmental and social impacts and disclosing them every year through its annual performance report following the widely used reporting framework established by the Global Reporting Initiative (GRI). A copy of EDC’s report may be downloaded at energy.com.ph/sustainability.
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.