In 2016, EDC set itself on the green path when our Chairman and Chief Executive Officer, Federico R. Lopez, with support from all the subsidiaries of First Philippine Holdings Corporation (FPH), announced that the company would forego investments in coal and only pursue clean energy. But, even prior to this directive, EDC was already challenging the norms and breaking the mold for energy companies, with our focus on providing people with cleaner, low-carbon energy options, and our commitment to sustainability throughout our operations.
Our track record of reporting enabled other subsidiaries of FPH to begin their own reporting practice. FPH then set out to develop its own Sustainability Policy, which was subsequently adopted by all its subsidiaries. The policy embodies the group’s commitment to improve people’s lives, care for the environment, and contribute to the positive transformation of the Philippines through responsible growth and investments. In this effort, we continue to be guided by our Lopez values—nationalism, integrity, social justice, unity, excellence, and a pioneering entrepreneurial spirit for the service of our nation.
Reporting on sustainability allows us to ensure that we comply with environmental standards and maintain strong relationships with our host communities. While EDC’s Performance Report allows us to communicate how we manage our operations in a sustainable manner, we continue to look for ways to improve and enhance our reporting.
For this report, EDC explores the transition to a new way of monitoring and managing our performance using the International Integrated Reporting (IR) Framework. The IR Framework focuses on the concept of capitals—stocks of values that an organization uses to carry out its activities and operations. Capitals are not fixed and can change over time: some stocks of capital will increase, while some may decrease.
The IR Framework is an attempt to understand how our organization uses these different capitals to create and share value. As such, on top of looking at our key performance indicators (KPIs) through the lens of the GRI Standards, we are now also looking at them through the added lens of capitals and how they create value.
Valuable insights and feedback from our key stakeholders informed the preparation of this report. Through consultations in all our business units, including WINBU and OCC, we have identified the following groups as our key stakeholders:
Corporate Communications Department
Frances L. Ariola
Leyte Geothermal Business Unit
Lisa F. Daigan
Mariel Joy R. Maceda
Erwin B. Magallanes
Albert M. Azarcon
Leonita P. Sabando
Jennifer D. Wenceslao
Aldrine O. Almanzor
Our 2018 Sustainability Report
Our Performance Report tells the story of our efforts to achieve our business objectives, hand-in-hand with our sustainability aspirations.