THE Energy Development Corp. (EDC) has been awarded with a Bronze in the Asia’s Best Carbon Disclosure category at the 5th Asia Sustainability Reporting Awards (ASRA).
“As global carbon emissions continue to go up, we strive to maintain our carbon neutral operation by investing only in low carbon energy sources like geothermal and through reforestation. By sharing our environmental impact in our annual performance reports, we hope to encourage more companies to also find ways to lower their carbon footprint and be part of the world’s solution to climate change,” Richard Tantoco, the company’s president and chief operating officer, said in a statement.
As the country’s pioneer and largest 100 percent renewable energy company that manages close to 1 percent of the Philippines’ forests through its BINHI forest restoration program, EDC’s geothermal reservations absorb close to five times its emissions of a little over 800,000 tons of carbon dioxide equivalent every year.
Its forest protection initiatives also capture and store carbon at a rate of 3.9 million tons of carbon dioxide. This is equivalent to 8.8 million miles driven by an average passenger vehicle.
