ORMOC CITY-Energy Development Corporation (EDC) has been named Green Company of the Year at the 2024 Asia Corporate Excellence and Sustainability (ACES) Awards in Bangkok, Thailand, recognizing its leadership in renewable energy and environmental conservation.
The award highlights EDC’s success in advancing clean energy, particularly through its flagship BINHI program, a national greening initiative launched in 2008.
BINHI has planted over 6.8 million trees, focusing on endangered native species, restoring forest lands, and preserving biodiversity. Partnerships with local farmers, the University of the Philippines, and international groups like Botanic Gardens Conservation International further strengthen its impact.
EDC’s 100% renewable energy portfolio includes geothermal, hydro, wind, and solar power, helping avoid nearly 6 million tonnes of carbon dioxide emissions annually. Integrated watershed management programs ensure forests around geothermal plants absorb more carbon than the company emits, reinforcing EDC’s mission to decarbonize the Philippines’ energy grid.
With nearly 1,500 MW of installed capacity, EDC provides 20% of the country’s renewable energy and 80% of its geothermal power, positioning the Philippines as the third-largest geothermal producer globally.
Erwin Magallanes, EDC Leyte’s corporate relations head, emphasized the company’s dedication to a regenerative future, stating, “Our profits can serve a good purpose, and our purpose can drive profitability while benefiting the planet.”
Dr. Shanggari Balakrishnan, president of ACES Awards, praised EDC’s commitment to sustainability, calling it “inspiring and necessary for a cleaner, greener world.”
The recognition cements EDC’s role as a leader in renewable energy and ecological restoration, setting a benchmark for sustainable business practices.
(ELVIE ROMAN ROA)
