First Gen, EDC only Philippine firms in world Carbon Clean 200

ABS-CBN News

Posted at Jan 14 2019 12:43 PM

MANILA - First Gen and Energy Development Corp said Monday they were the only Philippine companies included in the most recent Carbon Clean 200 list.

It was the first time for First Gen and the third time for EDC to make it to the list compiled by non-profit organization As You Sow in the US and market research group Corporate Knights of Canada. The rankings recognize the greenest companies in the world based on the size of their revenues from clean energy sources.

First Gen ranked 113rd with estimated clean energy revenues of $632 million in 2017, while EDC ranked 139th with $494.72 million, the two companies said in a statement.

To qualify, a company must have over $1 billion in market capitalization and generate more than 10 percent of its total revenues from clean energy sources, it said.

"Being the only Philippine companies on the list is a strong recognition of our commitment to not invest in coal and to make RE [renewable energy] more accessible to the Filipinos to help drive a low-carbon economy for the country," said First Gen and EDC chairman and CEO Federico Lopez.

First Gen is a renewable energy producer with a 3,490 megawatts in in installed capacity while its subsidiary EDC has an installed capacity of 1,471.8 megawatts.

First Gen, EDC and news.abs-cbn.com are part of the Lopez Group of companies.