EDC is only Philippine firm in Carbon Clean 200

ABS-CBN News

Posted at Feb 20 2018 11:52 AM | Updated as of Nov 04 2018 05:21 PM

MANILA - The Lopez Group's Energy Development Corp said Tuesday it was listed among the world's 200 biggest publicly-listed companies that earn significantly from renewable energy.

EDC is the only Filipino company in the Carbon Clean 200, based on ratings by Bloomberg New Energy Finance, the company said in a statement.

The inclusion "provides another proof that the renewable energy company is on the right track to invest in a low carbon future," EDC said.

Companies need to have market capitalization above $1 billion and earned 10 percent of revenue from green energy to qualify for the Carbon Clean 200, EDC said.

The annual ranking was launched in 2016 by the non-profit group, As You Sow of Oakland, California and media and research group Corporate Knights of Toronto, Canada.
 
EDC is the first company in the Philippines to achieve a carbon-neutral status, or one that absorbs more carbon dioxide than it emits to the environment.

The company said it hoped to move up the rankings in the future, after placing 119th this year.

In 2016, the EDC said it generated 8,531.5 gigawatt hours that helped the country avoid 7.5 million tons of carbon dioxide.

The company has total installed capacity of 1,458 megawatts from geothermal, wind, solar, and hydro power sources, which accounts for 21 percent of the total installed renewable energy in the country.

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