The Energy Development Corporation (EDC), the country’s biggest producer of geothermal power, was again recognized by the Institute of Corporate Directors (ICD) with a Gold Award for exemplary corporate governance practices. EDC, led by its President and COO Richard B. Tantoco, received the Gold Award in the 2010 Corporate Governance Scorecard for publicly-listed companies during the awarding ceremonies at the 8th ICD Annual Dinner last May 25, 2011 at the Manila Peninsula Hotel in Makati City.
With EDC’s improved corporate governance policies and activities, the company continued its gold streak for the second consecutive year. EDC’s higher CG Scorecard rating was attributed to its perfect scores in the following areas: Equitable Treatment of Shareholders, Role of Stakeholders and Disclosure and Transparency.
The 2010 CG Scorecard is a project of 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 the Center for International Private Enterprise.
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.