Energy Development Corporation

2024

Top Green Companies in Asia

Energy Development Corporation

Top Green Companies in Asia

2024

ABOUT Energy Development Corporation

A 15-Year Legacy of Environmental Stewardship

“The Philippines’ Energy Development Corporation (EDC) paves the way for renewable energy and environmental regeneration to shape a greener future.”

The Philippines’ Energy Development Corporation (EDC), a global leader in renewable energy and environmental stewardship, has been awarded Asia’s Green Company of the Year by the ACES Awards. This accolade honours EDC’s sustained commitment to advancing the Philippines’ renewable energy industry, while spearheading innovative ecological programs that foster biodiversity, restore forest lands, and combat climate change.

EDC has long been at the forefront of the country’s clean energy revolution. Operating as the Philippines’ largest renewable energy company, EDC’s installed capacity of close to 1,500 megawatts (MW) accounts for nearly 20% of the country’s total renewable energy production. On the other hand, the company’s geothermal power plants provide 80% of the country’s geothermal energy. Yet, EDC’s leadership goes beyond clean energy and extends into pioneering efforts for a regenerative and decarbonised future.

At the core of EDC’s environmental and social responsibility initiatives is its flagship program, BINHI. Launched in 2008, BINHI, meaning “seed” in Filipino, is a comprehensive environmental restoration and biodiversity conservation program, now a symbol of the company’s long-term commitment to the planet

BINHI focuses on propagating endangered Philippine native tree species, restoring degraded forest lands, and safeguarding biodiversity. In its 15 years, BINHI has planted nearly 7 million trees across over 10,000 hectares of forest lands, many of which are protected areas. EDC’s efforts are specifically designed to counter deforestation and mitigate the adverse effects of climate change, which has left many regions vulnerable to extreme weather and biodiversity loss.

To date, BINHI has successfully rescued and propagated 145 priority rare and endangered Philippine tree species, 96 of which are critical to the country’s biodiversity. Of those species, 10 have now been delisted from the International Union for Conservation of Nature (IUCN)’s Red List.

BINHI’s success is driven by EDC’s strategic partnerships with a wide range of stakeholders, which have allowed the program to expand its reach, maximising resources and knowledge sharing.

A key aspect of BINHI’s impact has been the company’s partnership with 88 local farmer associations, providing them with tools and resources to manage nurseries, source seedlings, and participate in forest protection activities. Through initiatives like the Baslay Coffee Program with the Baslay Highland Agriculture Cooperative (BASHACO), local farmers have shifted from environmentally harmful practices to sustainable agroforestry. These programs not only help regenerate the environment but also create sustainable livelihoods for communities, turning them into stewards of the land.

In Negros Oriental, for example, the Baslay Coffee Program has transformed a group of slash-and-burn farmers into successful coffee producers, earning recognition for their Baslay Coffee products. EDC has replicated this success in other regions, partnering with the Tongonan Farmers Association in Leyte and the Sondawa Coffee Farmers Association in North Cotabato to promote sustainable coffee farming practices. These partnerships have empowered local communities to become self-sufficient while protecting the forests surrounding EDC’s geothermal plants.

EDC has also fostered multi-sectoral collaborations, partnering with local and global academic institutions like the University of the Philippines Institute of Biology. These collaborations have enabled EDC to contribute to critical research on Philippine biodiversity and further enhance the program’s conservation efforts. For example, through BGCI’s Global Tree Assessment (GTA) Program, EDC has assessed the status of over 1,000 native tree species, helping to prioritise species for conservation and propagation.

While many organisations focus on sustainability, EDC has a more ambitious goal: regenerative development. This philosophy drives the company’s mission to not only sustain but improve the natural environment. EDC’s regenerative approach aims to restore ecosystems, protect biodiversity, and create a net-positive impact on the environment.

A core part of this mission is EDC’s commitment to decarbonising the Philippines’ energy grid. The company’s diverse renewable energy portfolio—which includes geothermal, hydro, wind, and solar power—positions EDC as a key player in the country’s energy transition. EDC’s geothermal power plants, in particular, provide a 24/7 source of clean energy, ensuring a stable and reliable power supply that is free from fossil fuels. This commitment to renewable energy allows EDC to avoid close to six million tonnes of carbon dioxide equivalent (tCO2e) emissions, compared to fossil fuel-based energy production, annually.

EDC is also a leader in carbon sequestration. The company’s watershed management programs, which are part of BINHI, ensure that the forests surrounding its geothermal plants absorb more carbon than the company emits. In 2023 alone, EDC’s forests absorbed 1.7 million tonnes of CO2e, significantly more than the company’s 1.1 million tonnes of operational emissions.

Looking ahead, EDC is poised to expand its efforts even further. The company has set ambitious goals for the future, including growing its low-carbon energy portfolio to 9,000 MW by 2030 and scaling up its nature-based solutions to offset carbon emissions. Through BINHI, EDC aims to propagate even more endangered native trees and continue to restore the Philippines’ vital forests.

For EDC, this ACES Award is just one milestone in its long-term mission to secure a decarbonised and regenerative future. As the world faces increasingly urgent challenges from climate change, EDC’s leadership in renewable energy and environmental regeneration serves as a pillar of hope. Through its initiatives, the company continues to lead by example, demonstrating that businesses can thrive while making a positive impact on the planet.