EDC consults stakeholders for 2015 Global Reporting Initiative

By Jennifer Catan-Tilos

NEGROS ORIENTAL (PIA) — Energy Development Corporation (EDC) has presented the highlights of its 2014 sustainability performance as well as consulted the different stakeholder groups in Negros Oriental on what they want the company to disclose in its 2015 Performance Report.

According to EDC’s corporate communication officer Frances Ariola, the stakeholder consultation and reporting are voluntary and in accordance with the Global Reporting Initiative (GRI) sustainability reporting framework that EDC is using in its annual performance report.

“This integrates the company’s financial performance with its sustainability (environmental, social and governance) performance as measured through the GRI’s key performance indicators,” said Ariola.

The Amsterdam-based GRI organization defines sustainability reports as the key platform for communicating sustainability performance and impacts – whether positive or negative–to its stakeholders.

This integrated report represents EDC’s deep commitment to the inclusive growth of its partner communities and the preservation of the environment in areas where it operates.

Ariola said the company also voluntarily seeks external evaluation for its economic, environmental and social performance as part of its sustainability reporting.

Its third-party host, University of Asia and the Pacific, formed a panel of experts on these aspects of corporate sustainability for their impartial review of the company’s performance in 2014.

This information was released through the company’s 2014 Performance Report aptly titled “Execute and Deliver”.

Among EDC’s notable projects that were cited by this panel of experts were its Health, Education, Livelihood and Environment (HELEn) program and its BINHI greening legacy program, which both provide lasting impacts to the community and the ecosystem by making them an integral part of the company’s value chain.

This year, UA&P’s team from its Center for Social Responsibility headed by Professor Colin Hubo is conducting the stakeholder consultation for EDC to ensure objectivity.

EDC is the world’s largest vertically integrated geothermal company and the only purely renewable energy firm in the country.

It supplies 70% of Negros Oriental’s power supply and it has been empowering communities and preserving the forests in areas where it operates for almost 40 years.

A copy of EDC’s 2014 Performance Report can be obtained from its sustainability reporting site: http://www.energy.com.ph/sustainability. (rmn/jct/PIA7-Negros Oriental/This article was first published at PIA Website on Nov. 6, 2015)

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