EDC bags award for its greening program

By Rhaydz B. Barcia

For its relentless efforts in transforming barren and denuded land for over a decade, the Energy Development Corporation (EDC) recently received the prestigious Asia Responsible Enterprise Awards (AREA) 2024. The awards ceremony was held at the Hilton Saigon in Ho Chi Minh City, Vietnam.

AREA honors organizations across Asia that demonstrate outstanding achievements in corporate sustainability, social empowerment, and green leadership. Organized by Enterprise Asia, the ceremony celebrated EDC’s commitment to sustainable practices and responsible business leadership in Asia.

The First Gen-owned EDC earned three recognitions at AREA 2024 across multiple categories for its impactful initiatives. Under the Green Leadership category, EDC’s BINHI program, “15 Years of Greening the Future,” aims to conserve, propagate, and protect the Philippines’ native tree species. Over the past 15 years, BINHI has planted nearly seven million trees across over 10,260 hectares of degraded forests, earning global recognition and partnerships for its extensive conservation efforts.

EDC’s commitment to forging collaborative pathways for a decarbonized and regenerative future is driven by its stakeholder pentad framework and the Integrated Reporting framework’s value creation model. Similarly, EDC’s Baslay Coffee Farm initiative transformed the kaingineros (slash-and-burn farmers) in Negros Oriental into four generations of forest protectors and sustainable coffee farmers. The project rehabilitated 220 hectares of land and generated significant income for the community through high-grade coffee production and cooperative efforts.

Now in its 13th year, AREA is renowned for its rigorous evaluation process and recognizes businesses that embody responsible entrepreneurship principles across various sectors and industries. EDC stood out for its innovation, measurable impact, and contribution to sustainable development goals.

“We dedicate these recognitions to our colleagues in EDC, as well as our 121 host communities and over 200 BINHI partners. Our collaboration with them has been instrumental in continuing to generate a positive impact in our work,” said Maria Nancy Ibuna, head of EDC’s corporate relations and communications.

The Energy Development Corporation is First Gen Corporation’s 100 percent renewable energy subsidiary, with over 1,464.5 MW of total installed capacity, accounting for 20 percent of the country’s total installed renewable energy capacity. Its 1,169.85 MW geothermal portfolio comprises 62 percent of the country’s total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world. First Gen is the Philippines’ leading clean energy company.