“UA&P is currently making great strides in its move towards green energy, allowing the University to cut down on electrical consumption while at the same time reducing its carbon footprint.”
Category Archives: Decision Making
The Energy Development Corporation, partner company of the University of Asia and the Pacific – Center for Social Responsibility (UA&P-CSR) on the GRI sustainability reporting initiative, is this month’s GRI Featured Report. – GRI News and Press Center: “This month’s Featured Reports – spotlight on The Energy Development Corporation 02 May 2013”
This month, the spotlight is on The Energy Development Corporation (EDC) – the largest producer of geothermal energy in the Philippines. Read on to find out why sustainability is important to EDC, and why it has set out on the reporting journey.
Why did you decide to start issuing sustainability reports?
EDC’s sustainability reports reflect its on-going integration strategy, which is an important part of being a globalizing energy enterprise. We aim to share information transparently about our long-term impacts on the environment and community in which we work, and how this is intrinsically linked to the creation of EDC’s long-term business success. Essentially, EDC’s business model is strongly focused on sustainability – generating clean energy that also takes care of the natural resources where it gets its fuel and creating partnerships with people to help us take care of this precious natural resource.
EDC President and COO has always emphasized the relevance of embedding sustainability performance into the corporate performance of the company: “No one can deny that as we use or tug on one item of nature, we impact everything else. A liter of water used, a tree cut, a thousand trees planted – everything is linked to everything else. Our sustainability journey over the past three years is one characterized not only by increased transparency, but one that has resulted in a more careful and efficient use of the resources we are entrusted with.”
What feedback have you received on the sustainability reports you have published so far?In addition to the quarterly consultations that our Corporate Social Responsibility (CSR) units perform, we now conduct stakeholder roadshows in all sites of operation on an annual basis. It is from these interactions and conversations with stakeholders that EDC gains its insight into how to report on sustainability performance. Expectations on the company have been varied from one stakeholder group to another. What we see as constant is the expectation for EDC to continue providing clean and renewable energy in the most responsible manner.
Since we first started using the GRI Guidelines in 2009, our institutional investors have lauded our efforts to issue balanced performance reviews. In 2011, EDC was awarded the Client Leadership Award by the International Finance Corporation. This award recognized EDC’s effective demonstration that institutional development goals can actually succeed in a developing country. Most recently, EDC’s sustainability performance has been included in the Bloomberg ESG index, Sustainalytics and Dow Jones Sustainability Index. The feedback we get from them has also helped us in making our report more responsive to the increasing number of institutional stakeholders.
What were the main challenges in preparing your sustainability reports?
Our 2007 CSR report was our first attempt at non-financial reporting. It followed the success of the first stakeholder meeting conducted on the occasion of EDC’s 30th anniversary.After this, we began incorporating non-financial indicators into our annual reports, beginning in 2008. In 2009, we adopted the use of GRI G3 Guidelines, reporting at self-declared, Application Level C. We published our second GRI-based report in 2010, earning us the recognition of being the first Philippine company to produce an externally-assured, GRI-checked, Application Level B+ report – covering 70 Performance Indicators.
Moving from the G3 Guidelines to the G3.1 Electric Utilities Sector Supplement proved to be more challenging than originally anticipated. It required our systems to be aligned with international standards before we could even begin monitoring certain aspects of operations. A series of workshops were conducted at technical working group level so that data gaps could be bridged using a long-term solution. Despite the overwhelming work that faced the technical working group, a roadmap was agreed upon that now drives our ongoing sustainability journey. Working on big issues in a long-term perspective is not sufficient in itself. Efficiency and taking on responsibility are constant elements in everything we do, including our day-to-day work.
What are the material topics covered in your report, and how did you determine them?Guided by the GRI Framework on materiality testing, our Sustainability Team conducted an assessment of stakeholder issues and concerns that intersect with the potential issues impacting the company’s business objectives in the mid-term. This approach was complemented with the use of the AA1000 Principles. Our baseline information was gathered from the first stakeholder meeting in 2006. Since then, we have identified stakeholder expectations and extrapolated them with the business objectives of EDC as a company that has growth prospects in the international market.
The issue most material for our 2012 report was energy supply, in particular its pricing and impact on the environment. We reported to both our shareholders and stakeholders on the actions that EDC took in dealing with this matter, coming from a financially difficult year in 2011. Despite the operational setbacks we experienced that year, the board and management team took a decisive step to strengthen the balance sheet, focusing on the rehabilitation of the acquired assets while delivering on its commitments to environmental management and investments to sustain stronger community partnerships.
Are you planning to develop/change your sustainability reports in the coming years?
EDC’s adaptability to change has always been its strong point. In its three decades of existence, the company has maintained its strong sense of resilience, which mostly stems from the circumstances in which it came to be during the oil crisis of the 1970s. EDC has improved and matured its reporting strategy, moving from reporting on 13 key Performance Indicators in 2009 to 92 in its latest report. At Application Level A+, we now turn our focus of attention to the integrated reporting framework of the International Integrated Reporting Council. It has always been our goal to integrate financial and operational performance with our environmental and social performance. We envision using such a framework will sufficiently reflect EDC’s overall performance.For more information on EDC and its sustainable development initiatives, visit its website and its profile page on the GRI website.
In April, four other organizations featured their reports. Three of these organizations are from the Energy sector, and all four of them successfully completed a GRI Application Level Check before having their reports featured. Follow the links below to read more about these organizations’ sustainability reporting practices.
China Everbright International Limited – China (Other)
Ecopetrol – Colombia (Energy)
SNAM – Italy (Energy)
Shell – The Netherlands (Energy)
GRI’s Featured Reports service enables organizations from around the world to showcase their GRI sustainability reports, and allows people to access reports based on the GRI Reporting Framework. The Featured Reports service is a paid-for promotional service that provides organizations with a high visibility platform for their reports. The benefits of this service include the display of the report on GRI’s website and a prominent place on the Sustainability Disclosure Database. The inclusion of a report is in no way intended as an endorsement by GRI of an organization’s sustainability reporting or performance.
GRI offers special discounts for the Featured Reports service for Organizational Stakeholders and for reporters who have gone through a GRI Application Level Check. If you want exposure for your GRI report, take a look at the Featured Reports service pages for more information on the process and pricing.
Sustainable business – Keep the business case in its proper place By Mallen Baker on Mar 7, 2013
“So the business case is no longer the tool you use to win somebody over. The business case is the tool that demonstrates you can do what they now want to do and maximise the benefit for the company…”
Sustainable business – Keep the business case in its proper place
By Mallen Baker on Mar 7, 2013
If you think the business case alone is going to win over the bosses, think again. Business is not just about numbers, argues Mallen Baker
It’s received wisdom that corporate responsibility is all about the business case. You can’t hope to get sustainable action within your company unless you can prove it’s going to work with hard, indisputable numbers.
And lots of people duly spend time crafting the business case, only to find that it fails to persuade. It’s frustrating.
When that happens, the chances are that the role of the business case is being fundamentally misunderstood.
Firstly, very few chief executives or other senior decision makers would really decide to take action based on a business case if they came to the table in a sceptical frame of mind.
Think about it. Why is so much business networking based around semi-social settings, such as dinners or entertainments? Because any good salesman knows that you have to create a positive relationship of trust. If people like you, they’re more likely to want to buy from you. And if they want to buy from you, they will seek a business case that makes it work. Because they already wanted to do it.
So the business case becomes the tool that shows how something can be made to work for the business. It is not the tool that helps you choose to do the thing in the first place.
When the new chief executive joins a successful company, the business case reasons behind the company’s strategy don’t change. But very often (almost always, in fact), the chief executive will want to create a new direction.
Although the facts haven’t changed, the leader’s likes and dislikes, habits and instincts have. They bring with them what worked for them before. And they will try to find ways to make the numbers add up for the new business as well.
Art of seduction
So you have to deal with your decision makers as people. They need to be seduced. They have to be influenced by people they respect and want to emulate. They have to see something that will make them think about it in a new way – that will touch their heart not just their head.
And then, only then, the business case becomes a powerful and essential tool.
Indeed, you have then to guard against the other danger: that they may “get religion” and want to do stuff without really thinking it through from the point of view of the business.
So the business case is no longer the tool you use to win somebody over. The business case is the tool that demonstrates you can do what they now want to do and maximise the benefit for the company.
One head of corporate responsibility remarked to me recently that she was starting to get greater senior level buy-in as she got older in her role. And the main reason was that young bucks who joined the firm at the same time she did were now moving into positions of authority.
Note – she didn’t say that as she gained experience she was getting better at framing a business case (although I daresay that’s true). The thing that was making the difference was that she now had solid peer relationships with the people who were attaining that senior status. So these were people who had a relationship already. They treated her as an equal and gave respect.
The business case may be just about numbers, but there are strategies you can adopt for building relationships and credibility. You just have to be clear about how important that is for your job success.
It’s the kind of thing that I’m sure, in the UK, the newly emerging Institute for Corporate Responsibility (ICR) will provide resources for once it is launched.
And there’s no reason why it shouldn’t become a part of standard corporate responsibility training. After all, companies train their sales people on this stuff.
I remember once being invited to join a session run by one of the top four accountancy firms for their staff on “working the room” – how to go in to apparently social networking events with a plan to reach the targets you want and achieve the prerequisite to a next step, permission to get in touch. This permission was never obtained by talking numbers, by the way.
Selling sustainability must be even more important than selling accounting services, it seems to me, with all due respect to that distinguished profession. Being clear about which tool works for which situation is a valuable starting point.
Mallen Baker is managing director of Daisywheel Interactive and a contributing editor to Ethical Corporation.
2nd National Conference on Sustainability Reporting in the Philippines: Business Case, Tools, Best Practices
The Amsterdam-based Global Reporting Initiative (GRI) is now working on its fourth generation (G4) of reporting guidelines. The G4 will capture emerging issues and sustainability challenges facing on their economic, social, environmental and governance performance. The benefits of GRI sustainability reporting are varied. More than ever, stakeholders such as investors, regulators, communities, NGOs, and rating agencies are asking for NON-FINANCIAL data on which to base their decision. “Many of the fund managers and assets owners now find that traditional investment banking reports, financial models and public information sources can no longer be relied on to cover all risks to earnings and deliver superior returns. Companies who do not monitor and report on this ‘non-financial’ performance not only risk financial penalties for non-compliance with stricter regulatory environments but are also denied access to substantial pools of global capital which are managed according to sustainable principles”, says Responsible Research, an independent provider of socially responsible research targeted at global institutional investors.
In the Philippines a handful of companies are spearheading the efforts to make GRI sustainbility reporting a common practice. While various companies are taking different strategies to disclose their sustainability performance, the likes of Energy Development Corporation, Petron Corporation, Team Energy, San Roque Power Corporation are all pioneering GRI Sustainability reporting initiatives in the country.
To better understand the spectrum of practices in this field, the Center for Social Responsibility at the University of Asia and the Pacific organized the first conference on sustainability reporting in November 2011. The conference brought together a number of practitioners to discuss the status of reporting in the country using the Global Reporting Initiative.
This year, 2012, the CSR plans to dwell deeper into the business case of sustainability reporting. through the use of case studies and practical insights, resources speakers will impart tolls and best practices in such key reporting areas as materiality testing, stakeholder engagement, Disclosure on Management Approach (DMA), supply chain management, performance assessment, cascading and institutionalization, among others.
The Center for Social Responsibility at UA&P is the only Philippine university that has been elected in the GRI Stakeholder Council since 2007. The council is GRI’s formal stakeholder policy forum that debates and provides input on key strategic and policy issues related to governance, building constituencies and network, reporting framework, future policy, business planning and activity. Membership in the council is geographically diverse and represented core constituencies within the GRI Network including business, civil society organizations, labor and mediating institutions.
P R O G R A M D E T A I L S of the Conference
I. Sustainability Reporting (Using GRI as a Template)
by Mr. Colin L. Hubo, Two-Term Elected GRI Stakeholder Council Member, Amsterdam
II. Perspectives from a Non-Reporting Organization
by Ms. Cynthia V. Pantonal, Executive Director, AES Philippines Foundation
III. Business Case for Sustainability Reporting: Strategic Decision Making & Enhanced Business Operations; Stakeholder Responsiveness
by Mr. Tommy T. Valdez, Vice President for CSR, San Roque Power Corporation
IV. Business Case for Sustainability Reporting: Supply Chain Sustainability Management: A Panel Discussion on Crafting a Sustainability Agenda and Developing a Supply Chain Roadmap
by Ms. Marilou G. Erni, General Manager, Petron Foundation
V. Tools & Best Practices on Writing a Sustainability Report: Materiality Testing and Disclosure on Management Approach
by Ms. Agnes De Jesus, Senior VP for Environment & External Relations, Energy Development Corporation
VI. Tools & Best Practices on Writing a Sustainability Report: Applying for A-Level GRI-Checked Report
by Mr. Roderick De Castro, Executive Director, Team Energy Foundation
R E S O U R C E P E R S O N S
COLIN LEGARDE HUBO, UA&P Center for Social Responsibility
Colin is an elected representative to the Stakeholder Council of the Global Reporting Initiative (GRI) in Amsterdam. As a two-term SC member (2007-09 / 2010-12), he is part of GRI’s formal governance structure which formulated the GRI G3 reporting guidelines. Presently, he is the vice-chairman of the Center for Social Responsibility of the University of Asia & the Pacific. He is Consultant / Adviser on Sustainability Reporting of various companies in the Philippines.
Likewise, he was a country lead consultant of the World Bank / IFC technical assistance in CSR for Mining, UK Embassy Alternative Financing technical assistance for LGU’s, and co-team leader of the Agence Francaise de Developpement (French Development Agency) technical assistance in Green Financing for Urban Cities in the Philippines.
Colin obtained his undergraduate degrees from the University of the Philippines, graduate studies from UP and UA&P, and fellowship in public policy from Duke University (USA).
CYNTHIA V. PANTONAL, AES Philippines
Cynthia is the Executive Director of AES Philippines Power Foundation. She previously worked as program manager of Team Energy Foundation for 10 years. Cynthia has worked for 5 years with the Office of the President of the Philippine under the leadership of Former President Fidel V. Ramos as Technical Assistant for Social Development. She completed her Masters degree in Business Administration at De La Salle University and a program for Development Managers at the Asian institute of Management. She is a graduate of De La Salle University with the Degree of Bachelor of Science in Business Administration.
MR. TOMMY T. VALDEZ, San Roque Power Corporation
Mr. Tommy Valdez or Tom is presently the Executive Director of San Roque Power Foundation, Inc. and the Vice President for Corporate Social Responsibility of San Roque Power Corporation. He is also the Board Director of Solutions Using Renewable Energy, Inc. (SURE). He has held this position since 2003.
Tom graduated in 1985 with a degree in Bachelor of Science in Forestry at the University of the Philippines, Los Baños. He then obtained Masteral units in Urban Planning and Regional Planning. After which, he pursued a MAster’s degree in Philosophy, with specialization in Resource and Environmental Planning. He acquired this in 1993 at Massey University, Palmerston North, New Zealand.
MS. MARILOU G. ERNI, Petron Foundaiton
Ms. Marilou G. Erni presently the General Manager of Petron Foundation. Previous to this, she was the Public Relations Manager and Head of Training & Organization Development in Petron Corporation. Ms. Erni is also an elected member of the Stakeholder Council of the Amsterdam-based Global Reporting Initiative, representing the business sector of the Asia-Pacific Region. Ms. Erni was a trustee and past chairman of the League of Corporate Foundations. She is also the president of the Bataan Coastal Care Foundation, chairman of the Corporate Network for Disaster Response, a trustee of Sa Aklat Sisikat Foundation, an active member of the Philippine Business for Social Progress-Luzon Regional Committee, and a senior Fellow of the Synergos Institute, a New York-based non-profit organization that works with local partners globally to fight poverty.
In August 2011, she received the GOLD award for CSR Leadership (individual category) in recognition of her efforts to promote CSR and sustainability within and outside her organization. Her efforts to lead CSR have resulted in various local and international recognitions for Petron.
MS. AGNES C. DE JESUS , Energy Development Corporation
Agnes C. De Jesus is the Senior Vice President for Environment and External relations, and Compliance Officer of Energy Development Corporation. Her areas of expertise are in environmental and watershed management, government relations, policy formulation, corporate social responsibility, conflict resolution for energy projects and corporate sustainability strategy. Aside from being a corporate executive, she also chairs the National Steering Committee of the Philippine Small Grants Project of the UN Development programme and holds the distinction as a third-party expert reviewer of World Bank policies and country reports. She is an accredited Environmental Assessment Expert of the Department of Environment and Natural Resources (DENR) and a member of the Advisory Council of the Philippine Business for the Environment and a member of the RE Developers Council representing the geothermal sector in the National Renewable Energy Board.
She won for her team the Lopez Achievement Awards on Business Communication and Reputation Building in 2009 and 2012. Together with senior management , her team led the company in implementing sustainable practices in implementing geothermal energy projects, which has been recognized by the World Bank – International Finance Award from among hundreds of companies in 79 countries. She is also spearheading the climate change program in EDC.
Ms. De Jesus obtained her Bachelor and Maters degree in Botany from the university of the Philippines in Diliman and completed the Management Development Program in the Asian Institute of Management. She was a member of the Board of Consultants of the editor of Geothermics International Journal on Geothermal Research and its Applications from 1996 to 2004.
MR. RODERICK DE CASTRO, Team Energy Foundation
Roderick De Castro or Ricky began his working career as a banker in UCPB starting off as a new accounts clerk working his way up to being an Overseas representative based in the Middle East. After studying in the Asian Institute of Management, he decided to shift to a career on development management. This is due to his exposure to environment conservation activities and after seriously taking up development management as a Masters course of the Business Management Program at the Asian Institute of Management (AIM).
In 2004, Ricky joined Team Energy Foundation as a Program Manager for its rural electrification program. Since then he has handled various other projects, activities and programs like the bridging leadership program, a partnership between aim and Team Energy. After a stint as the foundation’s Deputy Executive Director, he is now its Executive Director.
O R G A N I Z E R
MR. DIONISIO C. PAPELLERAS is the Chair of the Operations Committee and Executive Director of the Center for Social Responsibility (CSR) of the University of Asia & the Pacific (UA&P).
The Center for Social Responsibility (CSR) is the social extension unit of the University of Asia & the Pacific. It aims to maximize the synergy of the faculty, students, and partner institutions in uplifting the social and economic conditions of marginalized groups in society. This is bourne out of the belief that every person has the social obligation to reach out to the needy. “Social Responsibility” is not “charity” commonly understood as dole-outs or “big brother helping little brother”, but an effort to help everyone recognize his own worth and value as a productive member of society.
In the case of the university, social responsibility is exercised not only by but also for its members, utilizing their professional expertise, resources, and entrepreneurial abilities in a process of synergy to create greater impacts and sustainability.
P A P E R A B S T R A C T
PERSPECTIVES FROM A NON-REPORTING ORGANIZATION
by Ms. Cynthia V. Pantonal
Executive Director, AES Philippines Power Foundation
We’re Global – AES Corporation is a global power company with generation and distribution businesses in key markets that span five continents. We have diverse portfolio of thermal and renewable fuel sources to help meet the world’s changing power needs. Founded in 1981 as one of the pioneer independent power producers in the United States. AES has always been at the forefront of change.
We’re local – The Philippines ranks among the world’s top 50 largest energy consumers. As newly industrializing country, it improves more than 40% of the energy it requires.
In April 2008, AES seized the opportunity to enter the growing Philippine market when it acquired a 600-Megawatt thermal power plant in Zambales.
By successfully rehabilitating the ten-year old Masinloc Power Plant, AES not only expanded its footprint in Asia. It also demonstrated its deep local knowledge and distinctive operational skills – honed from more than two decades of leadership in the global energy sector and pioneering advances in many markets.
We’re committed – At AES Philippines, giving back to the local community is as important as our commitment to giving light to the people we serve: Our Corporate Social REsponsibility Programs are designed to improve the living conditions of the families in our host communities and nearby communities in Masinloc plant and wherever we have business partnerships. Through these programs, AES Philippines helps build the quality education (Read2Lead Program); access to basic health services (AES MObile Health clinic); creating livelihood opportunities (Welders Training Center); protecting the environment (AES Ridge to Reef Conserve Program), professional development program (AES Academy); and community programs for member-consumers (CSR for Electric Cooperatives).
By building strong partnerships with our people, our customers and the local communities where we operate and by being socially responsible in all our business practices, AES is able to help and contribute to nation building.
CRAFTING THE BUSINESS CASE FOR SUSTAINABILITY REPORTING: THE EXPERIENCE OF SAN ROQUE POWER CORPORATION (RENEWABLE ENERGY)
by Mr. Tommy T. Valdez
Vice President for CSR, San Roque Power Corporation
The preparation of the SRPC Sustainability Report for 2012 formally started in February 2012 with the assistance of the UA&P, under the leadership of Mr. Colin Hubo. The report was completed in September and was certified compliant to GRI B+ application level. The SRPC Sustainability Report is the first GRI Checked B+ Report of a hydropower company in the Philippines.
The report underwent a rigorous process of editing and independent external assurance to ascertain its adherence to set guidelines as well as GRI level check in Amsterdam. Likewise, the GRI process served as a springboard in the formulation of SRPC’s Sustainability Roadmap. Specifically, through the GRI process, SRPC was able to identify stakeholder concerns and issues through a systematic data gathering procedures as contained in the Stakeholder Consultation report submitted to the company last April 30, 2012.
More importantly, the GRI process yielded four core principles/themes by which SRPC anchored its vision of “Enhancing Corporate Value” in areas where it operates: Economic Distributive Impact, Environmental Stewardship, and Community Empowerment. These four principles/themes were then used as basis for the road mapping exercise that was started in September 2012 with the sustainability technical working group of the company. The road map proceeded by operationalizing, from the perspectives of SRPC stakeholders, the meanings of the four core principles. Subsequently, the group conducted an inventory of gaps in the GRI indicators reported by the company. Finally, the company core principles / themes were aligned with the results of the gap analysis for the GRI indicators disclosed by the company.
SUPPLY CHAIN SUSTAINABILITY MANAGEMENT: A PANEL DISCUSSION ON CRAFTING A SUSTAINABILITY AGENDA AND DEVELOPING A SUPPLY CHAIN ROADMAP
Ms. Marilou G. Erni
General Manager, Petron Foundation, Inc.
as the Philippines’ largest oil refining and marketing company, Petron firmly believes that is has an equal responsibility to ensure a commitment to society and the environment that is as fervent as its drive to attain its business goals. Petron set out to grow into a company that fully integrates sustainable practices into every aspect of its business. This is crucial given the size, scale and reach of the company’s operations and its impact on virtually every aspect of the Filipino way of life.
While the company has steadily and increasingly made a public accounting of its triple bottomline performance since it released it 2009 Sustainability Report (its first publication following the Global Reporting Initiative G3 Guidelines on Sustainability Reporting), Petron sees the greening of its supply chain as fundamental to further deepening and strengthening its sustainability agenda. The nature of Petron’s business, from the time it contracts for delivery of crude and products for refining to the distribution of the finished products to its network of depots and ultimately to the service stations, demand a sustainable supply chain structure. For Petron, each business unit, especially those involved in the management of its complex supply chain, has a mandate to implement high standards, policies, practices and long-term initiatives aimed at being sustainable. At the same time, it is making this commitment a shared value with those that it does business with whose lives are impacted by its presence.
The development of the Petron supply chain roadmap covering its refinery, distribution and marketing business was cited by the External Review Committee’s Assurance Statement in the company’s 2011 Sustainability Report as an achievement in terms of incorporating sustainability principles and standards with the end in view of reducing costs and strengthening the ability of the various units to compete, as well as in the establishment of parameters on how Petron will work with its supply chain partners and ultimately create a value proposition for the company’s long-term success and in the communities where it operates.
(This session will share our story of a continuing journey towards supply chain and sustainability management and reporting.)
BENEFITS OF SUSTAINABILITY REPORTING: WRITING THE REPORT
Ms. Agnes C. De Jesus
Energy Development Corporation
Integrated Sustainability Reporting in EDC is valued as a process rather than as an output. EDC’s impetus in writing the report is more the alignment of financial performance indicators with equally important of financial performance of environmental stewardship and social acceptability. What may be viewed as a simple exercise is actually a rigorous process that heavily involves stakeholder engagement. The glossy copy is merely the output of an extensive underlying effort that precedes it.
For EDC, the value of the Sustainability Report lies in the preparation – the selection of metrics, the scrutiny and analysis of the business impacts and risks, strategic insights and the subsequent adjustments to the company’s operations and even strategy. What EDC gains is a clear and focused understanding of how to improve its performance. For the stakeholders, the report increases their understanding of the company’s operations, its management strategy, its prospects as well as its risks. The effect has been the deepening of the already strong stakeholder relationships.
Interestingly, the process of engaging its stakeholders has provided an avenue to tell the sustainability story of EDC – from it dramatic creation during the 70’s oil crisis to how it successfully paved the way for renewable energy to become a viable power source in the Philippines. by applying the storytelling technique in writing the integrated report, EDC is creating a two-way communication medium with its stakeholders while establishing its pioneering efforts in environmental management and CSR, which were only told in low-key tones before. The success story of geothermal in the Philippines is EDC’s sustainability story. EDC’s aspiration to lead the energy sector as a global pure green energy brand will be its defining story yet.
Rather than succumbing to tokenism, EDC’s integrated reporting process has become more pragmatic, farsighted and focused on achieving more for the company.
Center for Social Responsibility of the University of Asia & the Pacific 