The Energy Development Corp. received another global recognition for its strong Environmental, Social and Governance practices.
EDC is this time included in the FTSE4Good, an equity index series created by global index provider FTSE Russell, part of London Stock Exchange Group, designed to help investors integrate environmental, social and governance factors into their investment decisions, a media release from EDC said Tuesday.
The indexes identify companies that better manage ESG risks and meet globally recognized and stringent corporate responsibility standards.
The FTSE4Good Emerging Index was launched in December 2016 and covers over 20 emerging countries.
Companies that manufacture or produce tobacco, weapons systems, and coal are excluded from the index series.
This global recognition came almost at the same time that Asia-Pacific Region publication CSR Asia Weekly ranked EDC first in the Philippines and no. 6 in Asia Pacific among companies that Corporate Social Responsibility professionals admire.
The result was culled from a survey conducted among 500 CSR managers, consultants and NGO professionals by CSR Asia, one of the leading providers of research, training and advisory services on sustainable business practices in Asia.
According to the published report, EDC, a new entry in the list of outstanding companies doing sustainable CSR work, was given a thumbs up for programs they have implemented that seek to improve the lives of the people and protection of the environment.
Apart from being a global diversified renewable power company, EDC implements comprehensive environmental management and corporate social responsibility programs that ensure inclusive growth and enhance the ecosystem in areas where it operates.
“For over 40 years, we have strived to make a positive impact on the environment and our host communities as we generate clean, renewable energy to power our country. Creating harmony for our business, the people around us, and our planet has always been at the heart of our sustainability strategy,” said Richard Tantoco, EDC president and COO, in the media release.
EDC’s Health, Education, Livelihood, and Environment (HELEn) program has been recognized countless times for its success and sustainability.
More recently, environmentalists and Environment & Natural Resources Sec. Regina Paz Lopez lauded the company for identifying and rescuing all of its 96 flagship premium, endangered native tree species under its BINHI Tree for the Future program.
EDC, the country’s leading producer of geothermal energy, likewise measures its own economic, environmental, and social impact and discloses it every year through its annual performance report following the Global Reporting Initiative’s most widely used reporting framework. (JFP)
