This is why we need to act now
The whole world is experiencing the effects of climate change.
By 2100, if carbon emissions are not curbed, 74% of the world’s population and 47% of its land area
The science is clear: the more frequent and intense heat waves are a direct result of human-induced climate change. We must act now to curb emissions.
The Energy Development Corporation (EDC), a pioneer and global leader in renewable energy generation, envisions a world powered only by clean energy. Taking direction from the Lopez Group Credo, that maintains growth is possible through responsible stewardship, EDC calls on the energy sector to make the necessary shift to clean and low-carbon sources. We must work together to control carbon emissions and build a more sustainable world for all.
Get the report highlights you need.
ABOUT THE REPORT
For the past nine years, the Energy Development Corporation (EDC) has issued reports as part of its commitment to sustainability. Since 2010, we have been reporting on our economic, environmental, and social impacts through our annual financial and sustainability report, also known as the Performance Report. Our reporting practice is informed by the Global Reporting Initiative (GRI) Standards.
As such, this report has been prepared in accordance with the GRI Standards: Comprehensive option. GRI Standards is the most comprehensive sustainability reporting framework used by companies worldwide to measure and report their impacts. It is our third year to prepare our Performance Report in accordance with the Standards, taking advantage of the reporting framework’s modularity and clarity of structure to address our material issues and relevant disclosures.
In this report, we will discuss the performance of our strategic business units (SBUs), namely: Bacon- Manito (BacMan) Geothermal Business Unit (BGBU); Leyte Geothermal Business Unit (LGBU); Negros Island Geothermal Business Unit (NIGBU); Mount Apo Geothermal Business Unit (MAGBU); and our corporate head office in One Corporate Center (OCC), Ortigas Center, Pasig City.
We will also discuss the performance of our subsidiaries, namely: Green Core Geothermal, Inc. (GCGI); BacMan Geothermal, Inc. (BGI); FG Hydro Power Corporation (FG Hydro); Wind-Ilocos Norte Business Unit (WINBU); and Unified Leyte Geothermal Energy, Inc. (ULGEI).
This report covers the period from January 1 to December 31, 2018.
AT A GLANCE
For more than 40 years, we have managed our operations with an eye not only to profit, but with care for people and the planet as well. In 2018, prudent planning and project management enabled EDC to exceed our 2017 total energy sales by 12.5%.
Strong performance by our business units enabled us to achieve higher generated volume, which translated to higher revenue.
With heightened awareness of climate change, more businesses seek to manage their impact by opting for low-carbon energy. In 2018, EDC served 97 customer facilities, from 84 in 2017.
EDC is a 100% renewable energy company. By producing clean, low-carbon energy, we avoid harmful emissions that contribute to climate change.
Our long-running BINHI program invests in restoring the forest and reviving threatened, native tree species. This allows us to not only protect biodiversity but also sequester carbon as part of our climate action.
1 / 5
WHY CHOOSE GEOTHERMAL?
What is Geo 24/7?
Geothermal energy is known as the holy grail of renewable energy technologies since it is the only form of RE that can provide baseload power. It is renewable, reliable and can provide 24/7 uninterrupted clean power to keep our businesses running, support basic services for every Filipino, and sustainably boost our country’s growth.
Geo 24/7 is about geothermal leader Energy Development Corporation (EDC) and how it powers infinite possibilities.
“We chose to renew with First Gen and EDC because, aside from the pure renewable energy that they provide, we are very satisfied with their service. It is just like a renewal of vows for us,”
Joselito “Toto” Parco, Executive Vice President, General Milling Corporation
"We chose EDC for its 100% renewable energy and for its sustainability programs, which are aligned with our company values,”
Glenn Everett, General Manager, Continental Temic