First Gen-owned Energy Development Corporation (EDC) has bagged gold and two silver awards at the 8th Asia Sustainability Reporting Awards, the most prestigious awards for sustainability and integrated reports.
EDC received three awards for its exemplary 2021 Integrated Report, with one gold for Asia's Best Sustainability Report (CEO Letter category), a silver for Asia's Best Sustainability Report (Private Company category), and another silver for Asia's Best Integrated Report (Value Creation category). These recognitions are a testament to EDC's commitment to sustainability and its efforts to address material sustainability issues.
EDC's 2021 Integrated Report tells the story of the renewable energy leader's efforts to achieve its business objectives, hand-in-hand with the company's mission to forge collaborative pathways for a decarbonized and regenerative future.
The awards were revealed in a recently held virtual awarding ceremony by Tom Moody, Regional Director, South East Asia for Climate and Energy and Charis Yeap, Regional Lead for Green Finance at the British High Commission in Singapore, and Elaine Cohen, a well-respected sustainability reporting expert and a member of the ASRA judging panel. The event was attended by senior business leaders and sustainability practitioners from 16 countries.
Rajesh Chhabara, founder of ASRA and Managing Director of CSWorks, stated, "EDC's integrated report demonstrates its commitment to high-quality disclosure about how it manages material environmental, social, and governance issues, risks, and opportunities to create sustainable value for its stakeholders."
The CEO Letter category considers messages from top executives that were published in sustainability and integrated reports that were considered from hundreds of companies in Asia. Value creation, on the other hand, evaluates short, medium, and long-term value resulting from the positive outcomes of the companies' business activities. Asia's Best Sustainability Report for Private Companies looks at environment, social, and governance (ESG) reports that were voluntarily released by companies.
"We are grateful to CSRWorks for recognizing our 2021 integrated report, which mirrors our over 1,400 employees' hard work in providing a reliable source of 24/7 clean, renewable energy to our fellow Filipinos in a way that nurtures the environment and our communities," said Allan V. Barcena, Assistant Vice President and head of Corporate Relations & Communications at EDC. "These awards inspire us to not only keep on improving our reports but more importantly, to work towards having a regenerative ESG performance."
EDC employees work hard and manage the operations to provide uninterrupted power supply through the company's geothermal power plants that produce electricity 24 hours a day, seven days a week.
The awards go to sustainability and integrated reports that demonstrate high-quality, value-creation reporting. The winning reports are selected based on a rigorous assessment process, where an independent judging panel determines the finalists and winners. The multi-tiered judging process not only evaluates the quality of the report but also conducts comprehensive due diligence that takes into account the companies' reputations among their stakeholders.
The Tongonan Geothermal Power Plant is one of EDC's geothermal facilities in the country that has been supplying clean, renewable 24/7 power in the region. EDC has emerged as the country's leading 100 percent renewable energy producer with an installed capacity of 1,480 megawatts (MW), accounting for 20 percent of the country's total installed renewable energy capacity.
EDC is First Gen's 100% renewable energy subsidiary that has over 1,480-MW total installed capacity and accounts for 20% of the country's total installed RE capacity. Its 1,185.40-MW geothermal portfolio accounts for 62% of the country's total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world.
Visit https://integratedreport.energy.com.ph/ to learn more about EDC's integrated report.
More comprehensive information on the Asia Integrated Reporting Awards is available at www.csrworks.com/aira
For more information, please contact:
Melissa Koh
The Secretariat
Asia Integrated Reporting Awards
asra@csrworks.com
About AIRA
The Asia Integrated Reporting Awards (AIRA) recognize and honor integrated reporting leaders in Asia. AIRA is a once-a-year opportunity for all organizations to build trust and awareness amongst investors and stakeholders by sharing their value creation progress. AIRA is now considered the most inspiring international recognition for corporate reporting.
For the full list of winners, visit www.csrworks.com/aira
About CSRWorks
CSRWorks International is a Singapore-based sustainability firm that provides advisory, training, and thought leadership services. CSRWorks has created the Asia Integrated Reporting Awards (AIRA) to identify and honor integrated reporting leaders. AIRA is organized alongside the Asia Sustainability Reporting Awards (ASRA). CSRWorks is a global training partner of the Global Reporting Initiative (GRI), IFRS Foundation, EcoVadis, and AccountAbility (AA1000). For more information, please visit www.csrworks.com.
