The International Finance Corporation (IFC) selected Energy Development Corporation
(EDC) as this year’s recipient of the prestigious Client Leadership Award, citing the geothermal leader’s exemplary accomplishments in operational excellence, sustainability, environmental management, social responsibility and corporate governance.
IFC gave recognition to EDC’s pioneering role in developing and commercializing geothermal energy in the country and outstanding initiatives in sustainable development.
While pursuing geothermal leadership, EDC also builds model communities, promotes sustainable reforestation and biodiversity preservation through its greening program BINHI, molds world-class builders through its technicalvocational school KEITECH
, and enhances the living conditions and well-being of its host communities through its CSR projects on health, education and livelihood.
“This is indeed a solid testament to our groundbreaking and sustainable efforts to achieve development in our host sites where we serve 43 villages and 18,000 households,” EDC president and COO Richard Tantoco
“By integrating our business with the development needs of our project areas, we have prospered with our local stakeholders— resulting in smooth and enhanced operations. We are of the firm belief that as the company grows, the communities should also prosper and the environment continuously preserved and enhanced….”
Tantoco received the award from IFC executive vice president and CEO Lars Thunell in a ceremony in Washington, DC. He also addressed the delegates of the IFC Workshop on the Institutional Development Goals and shared EDC’s experience in linking strategies and targets to incentives, and using these business tools to impact development. IFC has been a key investor in the company ever since privatization in 2006 and continues to maintain a stake in EDC.