The country’s biggest geothermal company, Energy Development Corporation (EDC), was awarded as one of the Top Green Companies in Asia at the recently concluded Asia Corporate Excellence & Sustainability (ACES) Awards 2016 organized by Malaysian-based MORS Group.
EDC bested almost 200 other nominated companies and individuals from various Asian countries this year. Its Chief Finance Officer Nestor H. Vasay received the award.
In her message during the awards night held at Shangri-La Hotel, Singapore, MORS Group CEO Shanggari Balakrishnan said that the ACES awards recognized entrepreneurs, corporate leaders, and best corporate practices in sustainability in Asia.
“These are companies that have innovative approaches to sustainable business into their operations. The winners have been able to show us how to build meaningful sustainability practices that do not only improve their business but also make a significant impact to their communities,” added Dr. Jayanthi Desan, lead jury of ACES Awards.
“These are also companies that have strong disclosures, most of them using the Global Reporting Initiatives (GRI) sustainability reporting framework.”
As a global, diversified, renewable power company, energy, environment, and empowerment resound in all of EDC’s business undertakings for over 40 years now. The company has been generating clean, renewable energy to power infinite possibilities for the country’s growing economy without harming the environment.
As one of the earliest sustainability reporters and adopters of the GRI in the country, EDC has been measuring and reporting on its environmental and social impacts to its stakeholders for their informed decision since 2010. The company’s 2010 integrated financial and sustainability report was the first in the Philippines to validated by the GRI’s head office in Amsterdam in 2011.
“Sustainability has been weaved into EDC’s business since the start of its operations,” said Vasay. “The integrated financial and sustainability report that we release every year is something that our investors and lenders appreciate because it tells them how we take care of the environment and our communities as a truly green company.”
EDC is the country’s leading producer of geothermal energy and a multi-awarded Filipino company in the areas of geothermal development, environmental excellence, corporate governance and corporate social responsibility.