EDC recognized as one of ASEAN’s best in corporate governance

Monday, August 13th, 2018

Geothermal leader Energy Development Corporation (EDC) was recently recognized for its outstanding corporate governance practices by the Institute of Corporate Directors (ICD). ICD is a non-stock, non-profit organization dedicated to the professionalizing corporate directorship by raising corporate governance standards. It assessed and ranked different publicly listed companies through the ASEAN Corporate Governance Scorecard (ACGS). Companies were ranked based on rights of shareholders, equitable treatment of shareholders, role of stakeholders in corporate governance, disclosure and transparency, and responsibilities of the board. The corporate governance scorecard is benchmarked against international best practices that encourage publicly listed companies to go beyond minimum compliance, further pushing for the improvement of corporate governance practices.

EDC’s corporate governance practices are primarily embodied in the Company’s Manual of Corporate Governance, Code of Conduct and Business Ethics and Code of Conduct and Discipline. EDC won additional points for developing policies on Conflict of Interest, Protected Disclosures, Giving and Receiving of Corporate Gifts, Fraud, and Related Party Transactions, as well as the manual on Enterprise Risk Management.

EDC is the world’s largest vertically integrated geothermal company and the largest renewable energy firm in the country, with an installed total capacity of 1,456.8 MW of purely renewable energy. It is a part of the Lopez Group of Companies.