Download Full 2023 Report

EDC Integrated
Report 2023

EDC Integrated
Report 2023

About
the Cover

EDC’s 2023 IR highlights the reality facing the Philippine energy sector today: the country’s continued reliance on coal and our investments in moving towards clean energy.

With around 60 percent of our total energy needs provided by coal1, our country’s continued reliance on it for power continues to harm our environment and natural resources. While this solution functions for our energy needs, it is ultimately an unsustainable model that we must move away from within the next five to 10 years.

EDC’s commitment to that goal: the beginnings of our extensive three-year geothermal drilling operations. As the country’s top renewable energy supplier, we firmly believe that the future of the country’s energy needs lies in renewable energies like geothermal. Geothermal energy shows the most promise in fulfilling our country’s baseline power demands, and this potential has led us to invest the majority of our efforts and resources into our drilling operations.

EDC will continue to stay the course with our goals for expanding our renewable energy portfolio and working closely with our stakeholders and customers toward a decarbonized and regenerative future. Our sincere hope is that our investments will continue to light the way for a more sustainable Philippine energy sector: one energized by renewable power.

1 Department of Energy

About
the Cover

The cover for EDC’s 2023 IR highlights the reality facing the Philippine energy sector today: the country’s continued reliance on coal and our investments in moving towards clean energy.

With around 60 percent of our total energy needs provided by coal1, our country’s continued reliance on it for power continues to harm our environment and natural resources. While this solution functions for our energy needs, it is ultimately an unsustainable model that we must move away from within the next five to 10 years.

The lower image showcases EDC’s commitment to that goal: the beginnings of our extensive three-year geothermal drilling operations. As the country’s top renewable energy supplier, we firmly believe that the future of the country’s energy needs lies in renewable energies like geothermal. Geothermal energy shows the most promise in fulfilling our country’s baseline power demands, and this potential has led us to invest the majority of our efforts and resources into our drilling operations.

EDC will continue to stay the course with our goals for expanding our renewable energy portfolio and working closely with our stakeholders and customers toward a decarbonized and regenerative future. Our sincere hope is that our investments will continue to light the way for a more sustainable Philippine energy sector: one energized by renewable power.

1 Department of Energy

Value
Chain

EDC is the top 100% renewable energy company in the Philippines, focused on being a sustainable, low-carbon business that provides reliable, clean, and affordable energy. Our portfolio includes geothermal, hydro, wind, and solar sources.

We have been generating geothermal power in the Philippines for over 40 years, enabling us to deliver on our Geo 24/7 commitment. Our activities range from exploration to maintenance of geothermal steam fields and power plants, wind, solar, and hydroelectric power plants.

We align our operations with our vision of a regenerative future for the Philippines, implementing strategies to reduce our carbon footprint, care for the environment, and create value for society.

Our Capitals in Summary

In 2023, EDC continued to elevate its pentad stakeholders across the six value creation capitals as it achieved almost all its targets for its four focus areas: Health, Safety, and Environment; Financial, Generation, and Growth.

2023 Awards

19th Philippine Quill Awards

EDC: Four Awards of Excellence and three Awards of Merit

BINHI: ASEAN Green Initiative Award

KEITECH: League of Corporate Foundations CSR Guild Awards as the Best Corporate Social Responsibility Project for Education

EDC: One gold and two silver awards in Asia’s Sustainability Reporting Awards (ASRA) and Asia’s Integrated Reporting Awards (AIRA)

2023 Asia Pacific Tambuli Awards

Grand Prix Award for BINHI under the Care for the Environment category of the Sustainability & Corporate Purpose division

Silver Award for Baslay Coffee Project under the Inclusive Growth category of the Sustainability & Corporate Purpose division

EDC: ESG Champion, Asia Responsible Enterprise Awards (AREA) 2023

EDC: Steward Leadership 25: Pioneering geothermal forest restoration through BINHI

One gold and two silver awards in Asia’s Sustainability Reporting Awards (ASRA) and Asia’s Integrated Reporting Awards (AIRA)

2023 Awards

19th Philippine Quill Awards

EDC: Four Awards of Excellence and three Awards of Merit

BINHI: ASEAN Green Initiative Award

KEITECH: League of Corporate Foundations CSR Guild Awards as the Best Corporate Social Responsibility Project for Education

EDC: One gold and two silver awards in Asia’s Sustainability Reporting Awards (ASRA) and Asia’s Integrated Reporting Awards (AIRA)

EDC: Steward Leadership 25: Pioneering geothermal forest restoration through BINHI

2023 Asia Pacific Tambuli Awards

Grand Prix Award for BINHI under the Care for the Environment category of the Sustainability & Corporate Purpose division

Silver Award for Baslay Coffee Project under the Inclusive Growth category of the Sustainability & Corporate Purpose division

One gold and two silver awards in Asia’s Sustainability Reporting Awards (ASRA) and Asia’s Integrated Reporting Awards (AIRA)

One gold and two silver awards in Asia’s Sustainability Reporting Awards (ASRA) and Asia’s Integrated Reporting Awards (AIRA)