Geothermal leader Energy Development Corporation (EDC) is once again included in the FTSE4Good Emerging Index for its strong environ mental, social and governance (ESG) practices.
The FTSE Russell, a wholly owned subsidiary of the London Stock Exchange Group’s Information Services Division, confirmed that EDC has been independently assessed according to the FTSE4Good criteria and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. EDC has recently received its certificate of membership signifying its inclusion in the FTSE4Good Emerging Index.
Created by the global index provider FTSE Russell in 2001, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong ESG practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
The FTSE4Good Emerging Index was launched in December 2016 and already included EDC as one of its constituents along with other companies from over 20 emerging countries. Companies that manufacture or produce tobacco, weapons systems and coal are excluded from the index series.
Apart from being the country’s leading renewable energy company and one of the world’s largest geothermal producers, EDC implements comprehensive environmental management and corporate social responsibility programs that ensure inclusive growth and enhance the ecosystem in areas where it operates.
“We strive to make a positive impact on the environment and our host communities as we generate clean, reliable and cost-competitive geothermal 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,” stated Richard B. Tantoco, EDC president and chief operating officer.
EDC’s community partnerships and BINHI greening legacy programs have been recognized consistently for their success and sustainability.
EDC has been measuring its own economic, environmental and social impacts and disclosing them every year through its annual performance report following the widely used reporting framework established by the Global Reporting Initiative (GRI). A copy of EDC’s report may be downloaded at www.energy.com.ph/ sustainability.
EDC is the world’s largest vertically integrated geothermal company and the only diversified renewable energy firm in the country. The company has been supplying clean, renewable, reliable geothermal energy to Negros Island and the rest of the Visayas region for over 35 years.