EDC Leyte corporate relations head Erwin Magallanes (center) with (l-r) Naterial Concept CEO and ACES Awards advisor Luis Bueno Nieto, Aubrens managing partner and ACES Awards advisor Dr. Jayanthi Desan, EDC watershed management officers Abegail Gatdula and Albert Azarcon, international corporate lawyer and ACES Awards chairman Hemant Batra, and MORS Group CEO and ACES Awards president Dr. Shanggari BalakrishnanEnergy Development Corporation (EDC) was honored with the Green Company of the Year Award by the 2024 Asia Corporate Excellence & Sustainability (ACES) in Bangkok, Thailand, on Nov.14, 2024.

The recognition, awarded to only one company annually, highlights EDC’s unwavering dedication to advancing the Philippines’ renewable energy sector and leading ecological programs that promote biodiversity, restore forestlands and combat the devastating effects of climate change in the country through its banner environmental program, BINHI.

In his acceptance speech, EDC Leyte head of corporate relations Erwin Magallanes recognized the urgent need for the company to become a regenerative force that creates an exponential positive impact on its stakeholders, which include the planet, communities, cocreators, investors and customers, ensuring that no one gets left behind.

“This ACES Award is a testament to our commitment to our long-term mission of securing a decarbonized and regenerative future,” said Magallanes. “This will further push us to lead by example and show the world that businesses need not choose between purpose and profit. Our profit can have a good purpose, and our purpose can be profitable while making a positive impact on the planet.”

Long-term commitment

Launched in 2008, BINHI represents EDC’s long-term commitment to ecological restoration and biodiversity conservation, focusing on the propagation of endangered Philippine native tree species, restoration of degraded forestlands and safeguarding the country’s rich biodiversity of flora and fauna.

One of the key drivers behind BINHI’s success has been EDC’s strategic partnerships with local communities, farmers and other stakeholders. The company has collaborated with 88 local farmer associations, providing them with tools, resources and training to manage nurseries, source seedlings and protect the forested areas around EDC’s geothermal plants.

These partnerships extend to collaborations, such as with the University of the Philippines Institute of Biology and the Botanic Gardens Conservation International’s global tree assessment program, enhancing BINHI’s impact on Philippine biodiversity conservation.

The ACES Green Company of the Year Award is a testament to EDC’s leadership in both renewable energy and environmental regeneration. Dr. Shanggari Balakrishnan, president of the ACES Awards, said: “The Energy Development Corporation’s vision of a regenerative future is not only inspiring but necessary, and through its ongoing efforts, EDC is helping to ensure a cleaner, greener world for generations to come.”

Story by:Frances Ariola