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Tuesday, 7th February 2023



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Message from Lopez

Remarks of Federico R. Lopez at the Annual Stockholders' Meeting of Energy Development Corporation on May 5, 2015

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Federico R. LopezFederico R. Lopez

If there’s a single point that’s been driven home to us as a company these last few years, it’s this: climate change is real, and it’s here to stay.

The number of intense weather events that have substantively affected our operations, just in the last year and a half alone, has been growing. In the short period between November 2013 and December 2014, three intense weather events—Typhoons Yolanda, Ruby, and Seniang—disrupted our plant operations in Leyte. Yet another one, Typhoon Glenda, affected plant operations materially in Bacman during the same period in July 2014.  Given our energy production infrastructure is built amongst the most rugged and the most challenging natural landscapes, it is clearly an imperative for our company to be prepared to adapt as rapidly as possible to this “new normal.”

In many ways that will be described in more detail in President Ricky Tantoco’s report, we are innovatively redesigning and uprating the most vulnerable segments of our energy facilities to withstand higher wind speeds of up to 300kph and the intense rainfall that come along with intense typhoons.  In most cases, the most vulnerable of our structures have always been our cooling towers and control rooms. Innovative and resourceful redesigns are already underway for these facilities, making them more robust and more resilient in the years to come.

Since 2006, we’ve identified close to 150 critical geohazard-prone areas that needed reinforcement in order to mitigate threats to the safety of people and to infrastructure within our concession areas. By end 2014, we completed all the necessary geohazard mitigating measures in these areas. However, we continue to be vigilant in identifying any new areas that may become prone to natural disasters.

In addition to many of these innovative engineering solutions, we are building stronger emergency preparedness and response capabilities within the company, by hiring some of the best full-time dedicated emergency teams in the country.  They are intentionally being deployed full-time throughout our various sites across the country for rapid response in emergencies and will also be responsible for training our partner communities and local governments in disaster preparedness.  Aside from being force-multipliers in times of crisis, all of these activities will also increase the bonds of partnership and trust we have with our local communities.

The other fact that stands out in all the areas where EDC operates is that we work alongside communities that are among the most vulnerable to climate change, not only due to topography but also because of poverty. We cannot ignore this fact. In the years since Typhoon Yolanda, our response was not only to restore our battered facilities, but also to help the local communities rebuild their lives to “build-back-better” standards as well.

Since February 2014, we have been working closely with ABS-CBN Lingkod Kapamilya Foundation to bring children from the towns of Ormoc, Kananga, Albuera, Merida, Palo, and Isabel, Leyte back to school, completing the first 14 new classrooms and repairing ten additional ones in September 2014.  An additional 34 new classrooms were completed in February 2015, and another 14 to be completed by May 2015.  Five new classrooms are also nearing completion for the schoolchildren of Passi City, Iloilo.  These new classrooms are being built to withstand wind factor of 250kph, the highest specification of the Department of Public Works and Highways (DPWH).   Twenty-nine more classrooms will be completed in District 2, Leyte and three more in Capiz by the end of 2015, utilizing funds from various Lopez companies.

Last year, we talked about how we’ve reoriented our technical-vocational training program in the Kananga-EDC Institute of Technology (KEITECH) to address pressing rehabilitation needs in Leyte while providing much-needed jobs for community members. By the end of 2014, we were able to produce a total of 285 graduates, who earned National Certifications on carpentry, plumbing, and electrical installation and maintenance. We are on track to produce 1,080 graduates by 2016.   This is on top of the 529 regular graduates we have produced so far. Our hope is that teaching these valuable skills to Typhoon Yolanda victims will take them farther than any relief effort will in getting their lives up to a running start.

Simultaneously, as we future-proof and reinforce EDC’s and our host communities’ ability to withstand many of the systemic risks yet to come, we’re proud to say that our business results have continued its upward trajectory. This year, we are showing a recurring net income attributable to EDC of Php9.2 billion, 40% higher than last year’s—thanks to the dedication of all our people amidst unrelenting crises, the best financial performance in EDC’s 38-year history! I believe there can be no better evidence to show your company’s resilience, its ability to learn and adapt, as well as the undaunted spirit of our people in the face of any adversity.  It truly exemplifies and brings life to our catchphrase at First Philippine Holdings (FPH) of being “Powered by Good.”

For 2015, in line with the theme of this annual report, we anticipate that greater importance will be placed on EDC’s ability to execute and deliver on the promise of its unique business model. We know we work in challenging environments—and, indeed, in challenging times as well—but we are constantly aware of the need for a cadence and pace of execution that has the power to bring strategic promise well within the realm of strategic reality. To paraphrase management guru Peter Drucker: “Plans are just good intentions, until they degenerate into hard work.” For EDC, our focus this year will be to make all those good intentions “degenerate” into decisive, relentless, purposeful, and downright “hard”work.   We’re counting on your continued trust and confidence, our dear stakeholders, to inspire all of us in EDC to make this happen.  Thank you!

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Archive

  • ► 2022
    • ► December
      • • Let’s help one another heal
      • • Building a resilient Philippines
      • • Our hope this Christmas
      • • Remembrance, reflection, gratitude
  • ► 2021
    • ► December
      • • Honoring the reason for Christmas
      • • Prosperity for all
      • • A time of cheer
      • • Making Christmas memorable
  • ► 2020
    • ► December
      • • Humanity at its finest
      • • Moving forward in a new world
      • • Hope for better days
      • • Stewardship and fidelity
  • ► 2019
    • ► December
      • • The truest treasure
      • • Continuing our great work
      • • The gift of life
      • • Seeking peace
      • • Perfectly united
  • ► 2018
    • ► December
      • • Let’s help keep the lights on
      • • Family is our place of love
      • • Spreading Christmas cheer
      • • Renewing family ties
    • ► March
      • • Keeping the lights on in the transition to an all-renewable future
  • ► 2017
    • ► December
      • • Together we have stepped up
      • • A year of rebirth and gratitude
      • • Looking forward, looking back
  • ► 2016
    • ► December
      • • Choosing to be powered by good
      • • Our mission remains the same
      • • Remember God’s love
      • • Changing with the changing times
      • • Each Christmas is a new opportunity
    • ► June
      • • Keynote Remarks of First Philippine Holdings chairman and CEO Federico R. Lopez at the 3rd Annual Summit of the Shareholders’ Association of the Philippines on June 17, 2016
      • • Keynote Remarks of Lopez Holdings chairman emeritus Oscar M. Lopez at the 3rd Annual Summit of the Shareholders’ Association of the Philippines on June 17, 2016
  • ► 2015
    • ► December
      • • Continue to push the boundaries
      • • We cannot lose hope in the Filipino
      • • Let us count our blessings every day
      • • Thank you for a remarkable year
      • • The wonders of Christmas
    • ► October
      • • Remarks of Chairman Emeritus Oscar M. Lopez, on the Lopez Achievement Awards 2014 held at Studio 10, ABS-CBN Compound on October 15, 2015
      • • Remarks of Federico R. Lopez at the 2014 Lopez Achievement Awards Ceremony held at ABSCBN Studio 10 on October 15, 2015
    • ► July
      • • For love of country, we are prepared to take action to make it better
    • ► May
      • • Remarks of Ambassador Manuel M. Lopez, Chairman and CEO of Lopez Holdings Corporation, at the Annual Stockholders’ Meeting held at Power Plant Mall Cinema, Rockwell Center, Makati City
      • • Remarks of Federico R. Lopez, Chairman and CEO, at First Gen Annual Stockholders Meeting on May 13, 2015
      • • Remarks of Federico R. Lopez at the Annual Stockholders' Meeting of Energy Development Corporation on May 5, 2015
      • • Oscar M. Lopez: even at 85, there are worlds left to conquer
    • ► April
      • • The legacy of heroes is the memory of a great name
      • • Oscar M. Lopez on Longevity and Success
    • ► March
      • • Remarks of Lopez Group Chairman Emeritus Oscar M. Lopez at the 2012 Commencement Exercises of the University of the Philippines and Conferment of the degree of Doctor of Laws, Honoris Causa
    • ► February
      • • Excellence is a Habit
    • ► January
      • • Towards A New Year of Promise
  • ► 2014
    • ► December
      • • Christmas is a time for gratitude
      • • Christmas message from Eugenio Lopez III
      • • Christmas message from Federico R. Lopez III
      • • Christmas message from Presentacion L. Psinakis
      • • Christmas message from Ambassador Manuel M. Lopez
      • • Christmas message from Oscar M. Lopez
    • ► October
      • • The Parley between Lopez and Marcos
      • • Why Choose Philippines?
      • • When War Escalates to Devastating Results
      • • The Inevitable Decline: Did Marcos Finally Go Too Far?
      • • Mayhem in Malacañang: Find Out What Caused Eñing’s Massive Fit
      • • The Yolanda Hero and the Unsung Hero
    • ► September
      • • Igniting the fallout: The unbelievable tactic President Marcos enforced
      • • Inspirational Remarks by Lopez Group Chairman Emeritus Oscar M. Lopez on the occasion of the Lopez Achievement Awards Ceremonies held at ABS-CBN Studio 10 on September 24, 2014
      • • A fork in the road: When two brilliant forces arrive at a point of dissent
      • • Discover what happened when a national problem took a turn for the worst
      • • Guess who came to the Nationalista victory party
      • • Don Eñing fights his greatest battle
    • ► August
      • • Remembering Ninoy this August 21
    • ► July
      • • CSR Challenges to Corporations
      • • Lessons from Typhoon Yolanda
      • • The exciting conclusion to the most epic chapter of the 100-year history of the Lopez Group (page 8)
      • • Lopez Values: a powerful rival makes an unforeseen move
      • • Remarks of Ambassador Manuel M. Lopez, Lopez Group Chairman at the Lopez Service Awards Night on July 2, 2014
      • • Just as Macapagal goes in for the kill, the chink in his armor is revealed
    • ► June
      • • From Bridges to Betrayal: the Lopez-Macapagal battle takes on another surprising twist
      • • Just When Macapagal Thought Victory Was His For The Taking…A Surprise Move from the Lopez Camp!
      • • Celebrating the Filipino Identity
      • • Chaos Warfare: Find out what brilliant tactic Don Eñing used to beat Macapagal at his own game
      • • Don Eñing lost BISCOM to Macapagal but What He Did Next Will Amaze You
    • ► May
      • • Defeating the Enemy with the Power of Unity and Trust
      • • Let’s celebrate something GOOD!
    • ► April
      • • The Start of an Alliance. Read page 8 of Underestimated webcomics
      • • Summer Break
    • ► March
      • • Facing a New Vendetta: Page 7 of Underestimated Webcomics
      • • A Bitter Demise: Page 6 of Underestimated Webcomics
      • • An Iroclad Approach: Page 5 of Underestimated Webcomics
      • • The adversary strikes back. Read page 4 of Underestimated webcomics
      • • Heritage and Love of Country
      • • What happens to Montilla in the Battle of Biscom?: Page 3 of Underestimated Webcomics
    • ► February
      • • How far have we come since EDSA 86 People Power?
      • • Outsmarting the Foe: Page 2 of Underestimated Webcomics
      • • Hope for the Laborers’ Plight: Page 1 of Underestimated Web Comics
    • ► January
      • • Resilient and Unsinkable: Why the Lopez Spirit Is Never Underestimated
  • ► 2013
    • ► December
      • • This season, Selflessness is more than possible
    • ► September
      • • To Fly and Fly Again comic series
      • • A Letter from Oscar M. Lopez
    • ► July
      • • Eugenio at Heart series
      • • A Lifetime of Excellence
    • ► June
      • • Independence and Nationalistic Pride
    • ► May
      • • Happy Mothers’ Day to everyone
    • ► March
      • • Pope Francis of the Poor and Lent
    • ► February
      • • Remembering the Spirit of EDSA
      • • Chinese New Year
  • ► 2012
    • ► December
      • • The Hope for Unity: The Winning Entries to the “What Do You Want This Christmas” Lopez Values Stars Facebook Contest
    • ► November
      • • What do you want this Christmas?
    • ► October
      • • LAA: Setting Ourselves Apart
      • • EDC and Claudio Bravo
      • • OML on Senator Juan Ponce Enrile’s Memoir
    • ► September
      • • In Pursuit of Education and Social Justice
    • ► July
      • • It’s Good to Go Green!
    • ► June
      • • Winners of the Nationalism Essay Contest
      • • Nationalism in the Workplace
      • • Nationalism and the Lopez Group Employee
      • • How can we express nationalism in our everyday work?
      • • Ang Pagiging Makabayan
      • • We now have our own Facebook page!
      • • Back-to-school this June
    • ► May
      • • Ready, Set, Succeed: OML’s Take on Life
    • ► April
      • • It’s More Fun to Choose Philippines
    • ► March
      • • How can we express our nationalism today in our everyday work?
    • ► February
      • • Dragon Energy
  • ► 2011
    • ► December
      • • This Season is the Best Time to Give Thanks
    • ► November
      • • A Whole New World
      • • Giving Voice to Lopez Values
    • ► October
      • • Serving the Kapamilya
    • ► September
      • • Social Responsibility
    • ► July
      • • Eugenio Lopez on his 110th Birth Anniversary
    • ► June
      • • Rizal the Sportsman and our Palaro
      • • It Is Never Too Late To Try Something New
    • ► May
      • • Giving Back
    • ► April
      • • Why Do I Climb Mountains?
      • • Lent at 81
      • • Creating Trust
      • • Getting Ready for the Big One
    • ► March
      • • Aligning the Values
      • • Unity in Tragedy
      • • Remembering the “Ides of March”
      • • Our Values Unite Us
    • ► February
      • • Love for Country
      • • Eyes on the Prize
      • • Happy Valentine’s, Kapamilya!
      • • Kung Hei Fat Choi!
    • ► January
      • • Are You A Lopez Values Superstar?
      • • Happy New Year, Kapamilya!
  • ► 2010
    • ► December
      • • Happy Holidays!
  • ► 0000
    • ►
      • • To survive and not despair

Web Comics

Enemy of My Enemy (Part 2)
Enemy of My Enemy (Part 2)
Enemy of My Enemy (Part 1)
Enemy of My Enemy (Part 1)
Underestimated
Underestimated
To Fly and Fly Again
To Fly and Fly Again

Under Estimated

 

Man in the Frame

 

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