Learn More – About the Report – EDC's Integrated Report

About the Report, Scope, and Boundary

About the Report,
Scope,
and Boundary

Summary

We are proud to present the 2021 Integrated Report of the Energy Development Corporation (EDC), prepared in accordance with the reporting framework set forth by the International Integrated Reporting Council (IIRC). This report covers our financial, environmental, social, and governance performance pertaining to the period January 1 to December 31, 2021.

Activites

Equity capital
Debt and grants
Internally Generated
Funds
Enterprise Asset Management
Portfolio Organization

Outputs

Contracted capacity
Revenue growth
Income and cash flow generated
Steamfield and pwer plant assets under construction
NatCat resiliency improvements

Value Created

Directed value distributed
Internally-generated funds
Dividends to shareholders
Debt service to creditors

Contribution to SGDs

Risks

Mismatch in contacting cycles
Volatility of interest and foreign exchange rates Fund sourcing
Climate change impacts

"We know from generations of experience that it is by living according to these values that a company can be built to last."

Federico R. Lopez

Chairman & Chief Executive Officer

Reporting Framework and Standards
TCFD Recommended disclosures

Integrated Reporting
IR Standards In 2020, EDC shifted to the International Integrated Report Framework to enhance the integration of its capitals within its business operations and its strategies to create value over time for its stakeholders and shareholders. These capitals are financial, manufactured, human, social and relationship, intellectual, and natural. With this framework, EDC can improve the quality of information it discloses and enhance accountability and stewardship among the capitals and their interdependencies.

Global Reporting Initiative (GRI) Standards
This report has likewise been prepared in accordance with the GRI Standards: Comprehensive option.

EDC has been using the GRI Standards to disclose and discuss its material topics for over ten (10) years. It takes advantage of the modularity, clear structure, and comparability of the relevant disclosures of the framework.

The GRI Standards are one of the most widely used as it is considered the gold standard in sustainability reporting. Organizations use it to report their impacts on the economy, environment, and society.

Task Force for Climate-related Financial Disclosures (TCFD)
The TCFD is established to develop climate related disclosures and further understand the concentrations of carbon-related assets and exposures to climate-related risks. The EDC 2021 Integrated Report follows the TCFD Framework, ensuring that the governance structures, business strategies, environmental impacts and disclosures, and future metrics and targets of the Company are aligned with the global requirements.

External assurers have rigorously reviewed the EDC 2021 Integrated Report to ensure accuracy and balance of disclosures. EDC will utilize their insights and recommendations to enhance and guide our organization’s reporting practices and disclosures moving forward.

Governance:
• Determine the Board’s oversight of climaterelated risks and opportunities
• Identify the management’s role in assessing and managing climate-related risks and opportunities

Strategy:
• Describe the climate-related risks and opportunities the Company has identified over the short, medium and long term
• Describe the impact of climate-related risks and opportunities on the Company

Risk Management:
• Describe the Company’s processes for identifying and assessing climate-related risks
• Describe the Company’s processes for managing climate-related risks
• Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the Company’s overall risk management

Metrics and Targets:
• Disclose the metrics used by the Company to assess climate-related risks and opportunities in line with its strategy and risk management process
• Disclose Scope 1, 2, and 3 GHG emissions and the related risks.
• Describe the targets used by the Company to manage climate-related risks and opportunities and performance against targets

We welcome feedback and appreciate any suggestions on how to make our report more meaningful and useful to our different stakeholders. Please feel free to get in touch with:

Corporate Communications Department
Energy Development Corporation (EDC)
[email protected]

Acknowledgements

Editorial Board

Erwin O. Avante

Marvin S. Bailon

Allan V. Barcena

Agnes C. De Jesus

Ma. Elizabeth D. Nasol

Regina Victoria J. Pascual

Joy J. Santamarina

Jay Joel L. Soriano

Editor-in-Chief

Frances L. Ariola

Technical Editor

Paulo M. Gooco

Content Editors

Soleil Micah O. Acu

Jolly Anne Joy V. Jamoralin

Contributors

Dr. Lina Rose Alcances

Erlindo C. Angcoy

Jem C. Austria

John Kevin D. Benico

Ryan Anthony B. Bogayan

Gideon Adriel E. Butalid

Rowena Grace D. Camacho

Dorothy F. Cardenas

Rich Paul C. Cosio

Christian Roy R. Dadios

Jaime N. Dumlao III

Mheryl Anne B. Espinosa

Engellau F. Flores

Melanie F. Gatbonton

Marie Kristine Margaret L. Garcia

Ferdinand R. Geronimo

Ronino C. Gibe

Kristina Irene D. Go

Maria Nancy P. Ibuna

Eduardo L. Jimenez

Rhoel Enrico R. Olivar

Cherrylane E. Santiago

Ruth Dianne M. So

Jimson S. Solatre

Sustainability Consulting, Editorial, and Design

DRINK Sustainability Communications

Photography

Andrei Apostol

Bong Bajo

Hersley Ven Casero

John Carlo P. Despi

Tom Epperson

Albert Labrador

Ronald Macatulad

Paul Nicole Magaway

Marlon Matiga

Martin San Diego

Technical Working Group

BacMan Geothermal Facility

• Anthony Buising

• Cheryl B. Mandane

• Daryl B. Gamez

• Debbie Anne B. Mortega

• Franklin N. Elizaga

• Ken Michael L. Florece

• Kristine Mae A. Silang

• Leah A. Herrera

• Leny D. Doctor

• Michelle B. Madrona

• Neil Anthony P. Miras

• Nora M. Africano

• Paolo A. Digo

• Ramon A. Parafina III

• Rommel C. Collantes

• Rowena B. Daep

Business Continuity Management

• Lara N. Jason

• Norman D. Samonte

Corporate Governance Office – Strategic Initiatives Legal and Regulatory Office

• Marita P. Lagos

• Kristina Irene D. Go

Corporate Support Functions

• Abegail Y. Gatdula

• Cherrylane E. Santiago

• Edwin G. Murillo

• Engellau F. Flores

• Ferdinand E. Lunaria

• Frances L. Ariola

• Jimson S. Solatre

• John Kevin Benico

• Jolly V. Jamoralin

• Dr. Lina Rose A. Alcances

• Marco D. Macapagal

• Marco Macapagal

• Maria Nancy P. Ibuna

• Melanie F. Gatbonton

• Paulo M. Gooco

• Ronino C. Gibe

• Ryan Anthony B. Bogayan

• Soleil Micah O. Acu

Corporate Treasury

• Cirila V. Romblon

• Clarisse Joyce B. Elloso

• Liza C. Po

External Assurance Host, University of

Asia and the Pacific – Center for Social

Responsibility

• Colin Legarde Hubo

• Francesca Louisse M. Cabugoy

• Lindsay Anne Estacio

Facilities Operations and Maintenance Group

• Christian Roy R. Dadios

• Christine Japet S. Batilo

• Laurence A. Romero

• Mheryl Anne B. Espinosa

First Gen Hydro Power Corporation

• Maria Christine T. Mapanao

• Rodante S. Daludado

Integrated Sub-Surface Group

• Emerose M. Devilles

• Erlindo C. Angcoy

• Jaime Jemuel C. Austria, Jr.

• Marianne J. Paje

Leyte Geothermal Facility

• Albert M. Azarcon

• Aldrine O. Almanzor

• Arianne A. Saludares

• Denes R. Alpos

• Dexter A. Arcenal

• Erwin B. Magallanes

• Gilbert C. Milallos

• Gilbert Millalos

• Glen Ceballos

• Jana Lyn Catipay

• Jennifer D. Wenceslao

• Johnre P. Alila

• Jorobel D. Rom

• Jose Allan M. Degamo

• Jusette Orovillo

• Leizley Sieras – Apas

• Leonita P. Sabando

• Lorena M. Daco-ag

• Ma. Liza T. Tumanda

• Ma. Sybil C. Villegas

• Marcelo M. Dinoy Jr.

• Mariel Joy R. Maceda

• Melezra Amora

• Nerelito M. Pascual Jr.

• Normann M. Buscato

• Proceso C. Escoton

• Rogeberto P. Suson

• Salvador P. Corros

• Syrill S. Yap

Mount Apo Geothermal Facility

• Eduardo Z. Morales, Jr.

• Karen Kaye Abarientos

• Luis E. Gonzales

• Myrissa L. Tabao

• Raymund G. Dauz

• Romeo I. Kee

• Sherwin Melvin Burton E. Lucas

• Vicente G. Llorente

Negros Island Geothermal Facility

• Alex D. Faciolan

• Ariel H. dela Crux

• Aubrey A. Bangaysiso

• Bernard Tia

• Carl Vincent P. Dipaling

• Cesar B. Villaflor

• Cliff V. Z. Concepcion

• Cromwell C. Ozoa

• Dominador S. Canatoy III

• Francis B. Saguban

• Jan Mark Wong

• Jane C. Ramirez

• Jaymar Matia-Ong

• Jayvi P. Valenzuela

• Jennifer Espartero-Dales

• Jennifer F. Dayon

• Joeny Q. Bermejo

• Leo A. Alon

• Maisie Kirstine Isobelle B. Cahambing

• Marcial M. Alcarez

• Marie Christine C. Jamiana

• Neil Vic A. Divinagracia

• Nichole B. Macasero

• Noel R. Tan

• Norreen G. Bautista

• Paulino Agudo

• Rhea F. Tumala

• Robert Marcellin T. Gajo

• Ruben Ang Jr.

• Sam E. Antiporta

Strategy and Commercial Group

• Ruth Dianne M. So

Supply Chain Management

• Kyle Chua

• Marc Kevin Tan

• Shaila Jennel H. Zacarias

Wind Ilocos Norte Business Unit

• Deborah G. Sabarre

• Jansen Paul H. Chano

• Rosalyne C. Arucan