Geothermal leader Energy Development Corporation has proven that it is on the right track to investing in a low carbon future as it made the Carbon Clean 200™ list, the only Philippine company in the roll of the world's largest publicly-traded firms that lead the way with solutions for transition to a clean energy future, its press release said.
The rankings were based on the companies' total clean energy revenues, as rated by Bloomberg New Energy Finance.
EDC is a carbon neutral company. Its total installed capacity of 1,458 megawatts from geothermal, wind, solar and hydro power sources accounts for 21 percent of the total installed renewable energy in the country.
The company has committed to not invest in coal and to make RE more accessible to the Filipinos to help drive a low-carbon economy for the country.
Launched in 2016, Clean 200 is an initiative of non-profit foundation, As You Sow, whose mission is to promote environmental and social corporate responsibility, and Corporate Knights, a Toronto-based media and research company that produces corporate rankings, research reports and financial product ratings based on corporate sustainability performance, the press release said.
Only companies with a market capitalization greater than $1 billion and have earned more than 10 percent of its total revenues from clean energy sources are eligible to be considered in the list.
Clean 200 excludes all oil and gas companies and utilities that generate less than 50 percent of their power from renewable sources, as well as the top 100 coal companies measured by reserves. It also disqualifies companies profiting from weapons manufacturing, tropical deforestation, the use of child and/or forced labor, and companies that engage in negative climate lobbying, the press release added.*
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