By Lenie Lectura - January 15, 2019
LOPEZ-LED First Gen Corp. and Energy
Development Corp. (EDC) made it to the latest list of the world’s top 200
biggest and greenest companies.
Based on the Carbon Clean 200 list
as of the third quarter of 2018, First Gen ranked 113rd with estimated
clean-energy revenues of $632 million in 2017; while EDC occupied the 139th
slot with estimated clean-energy revenues of $494.72 million.
The list ranks companies according
to the size of their revenues from clean-energy sources.
First Gen and EDC are the only
Philippine companies included in the list. The latest ranking marked the third
time for EDC and the first time for First Gen to make it to the Carbon Clean
200.
First Gen is the Philippines’s
leading clean and renewable-energy producer with 3,490 megawatts in installed
capacity. Subsidiary EDC is one of the world’s largest geothermal
producers and the country’s leading renewable-energy company with an installed
capacity of 1,471.8 MW.
“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 Filipinos to help drive a
low-carbon economy for the country,” First Gen and EDC Chairman and CEO
Federico R. Lopez said.
EDC also holds the distinction of
being a carbon-negative company. This means the amount of carbon dioxide it
absorbs is far more than the level of CO2 it produces. On an annual basis, EDC
helps the country avoid 6.7 million tons of CO2 emissions through its pure RE
operations and comprehensive watershed management program.
Launched jointly by nonprofit
organization As You Sow of the United States and market research group
Corporate Knights of Canada, the Carbon Clean 200 list undergoes an update
twice a year, based on total clean-energy revenues that Bloomberg New Energy
Finance (BNEF) rates.
‘ To qualify for inclusion in
the list, a company must have over $1 billion in market capitalization and
generate more than 10 percent of its total revenues from clean-energy sources.
The Carbon Clean 200 list
excludes all oil and gas companies and utilities that generate less than
50 percent of their power from renewable sources. Also excluded are the world’s
top 100 coal companies, measured in terms of reserves. Coal is
considered a major source of CO2, one of the greenhouse gases being blamed in
various studies for adverse climate change.
Carbon Clean 200, likewise,
disqualifies companies that profit from weapons manufacturing, tropical
deforestation, the use of child and/or forced labor, and those engaged in
negative climate lobbying.
Thirty-tree countries were
represented in the latest Carbon Clean 200. Fifty-two companies were based in
China, 34 from the US and 19 from Japan.
Earlier, leading integrated
food-manufacturing company General Milling Corp. (GMC) renewed its contract for
the supply of clean, reliable and renewable energy from First Gen.
Under the new contract, First Gen
will supply GMC’s facility in Lapu-Lapu City with electricity coming from EDC.
“We chose to renew with First Gen and EDC because aside from the pure renewable
energy that they provide, we are very satisfied with their service. It is
just like a renewal of vows for us,” GMC EVP Joselito “Toto” Parco.
The Lapu-Lapu factory is GMC’s
biggest facility.
Also, Citizen Machinery Philippines
earlier tapped EDC to supply clean power to the former’s facilities in Tanauan,
Batangas.
Both inked a two-year supply deal
for 2.5 MW of geothermal power from EDC’s BacMan geothermal project. “As a
manufacturing company, Citizen Machinery Philippines desires to be supplied by
stable and low-cost electricity, especially since our foundry consumes much power,”
Citizen Machinery Philippines President Akihide Kanaya said. “EDC’s BacMan
Geothermal Project meets these criteria. Choosing to be powered by 100-percent
renewable energy strongly supports this commitment.” CMP manufactures and
assembles automatic lathe machines, which produces other machines for use in
different industries.
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