2014 Executive Summary
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EDC <strong>2014</strong> Performance Report<br />
the Chief Sustainability Officer of<br />
EDC’s conglomerate, First Philippine<br />
Holdings, subjected the new G4 KPIs<br />
to a materiality test and conducted<br />
surveys and focus group discussions<br />
(FGDs) among various stakeholder<br />
groups and primary readers and<br />
users of this report. The surveys<br />
and FGDs were held in the cities of<br />
Bacolod, Dumaguete, Kidapawan,<br />
Sorsogon, Ormoc, and in our<br />
corporate headquarters. More than<br />
200 individual stakeholders were<br />
surveyed and interviewed. Material<br />
indicators were ranked according<br />
to frequency in each site and also<br />
assigned site overall rankings. This<br />
report covers discussions of material<br />
indicators that seek to fulfill the GRI<br />
G4 “In Accordance — Comprehensive”<br />
criteria. As in our previous reports,<br />
it has been subjected to third–party<br />
validation and we have published<br />
their findings on page 116.<br />
ASEAN Corporate<br />
Governance<br />
Included in the discussion is EDC’s<br />
Corporate Governance (CG) Report<br />
for <strong>2014</strong>, which is in full compliance<br />
with the corporate governance rules<br />
and regulations of the SEC and the<br />
Philippine Stock Exchange (PSE),<br />
and in observance of the ASEAN<br />
Corporate Governance Scorecard<br />
criteria. In particular, the last is aligned<br />
with the ASEAN corporate governance<br />
initiative of the ASEAN Capital<br />
Markets Forum (ACMF). It is part of our<br />
company’s commitment and support<br />
to the objectives of: raising corporate<br />
governance standards and practices<br />
of ASEAN publicly listed companies<br />
(PLCs); showcasing and enhancing<br />
the visibility as well as “investability”<br />
of well-governed ASEAN PLCs<br />
internationally; and complementing<br />
the other ACMF initiatives to promote<br />
ASEAN as an asset class. The report,<br />
reflecting revisions of the CG Manual,<br />
was approved by the EDC Board of<br />
Directors on July 15, <strong>2014</strong>. It formally<br />
incorporates the stakeholder principle<br />
in corporate governance and expands<br />
the scope of responsibility to all other<br />
stakeholders of the company.<br />
Stakeholder groups’ material indicators<br />
(Shareholders, suppliers, government, NGOs, cooperatives, farmers, educators, health officers, media, indigenous peoples)<br />
Location/Medium Economic Environment Labor Human Rights Society Product Responsibility<br />
Kidapawan<br />
(Mount Apo)<br />
Survey/FGD<br />
Impacts for labor<br />
practices in the<br />
supply chain<br />
Health and safety impacts of products<br />
Compliance with regulations on<br />
health and safety impacts<br />
Dumaguete<br />
(Southern Negros)<br />
Survey/FGD<br />
Sorsogon<br />
(Bacman)<br />
Survey/FGD<br />
Bacolod<br />
(Northern Negros)<br />
Survey/FGD<br />
Ormoc (Leyte)<br />
Survey/FGD<br />
Shareholders<br />
Survey<br />
Infrastructure<br />
investments<br />
Financial implications,<br />
risks, and opportunities<br />
related to climate<br />
change<br />
Water<br />
withdrawal<br />
Significant impact<br />
on biodiversity in<br />
protected areas<br />
Habitats<br />
protected or<br />
restored<br />
Compliance with<br />
environmental<br />
laws and<br />
regulations<br />
Employee<br />
training<br />
Benefits provided<br />
to full-time<br />
employees<br />
Number and<br />
rates of new<br />
employee hires<br />
and employee<br />
turnover<br />
Employee<br />
training on<br />
human rights<br />
Human rights<br />
training of<br />
security<br />
personnel<br />
Investment<br />
agreements and<br />
contracts with<br />
human rights<br />
clauses or that<br />
underwent<br />
human rights<br />
screening<br />
Community<br />
engagement,<br />
impact assessments,<br />
and development<br />
programs<br />
Health and safety impacts of products<br />
Compliance with regulations on<br />
health and safety impacts<br />
Product and service information and<br />
labeling<br />
Product and service information and<br />
labeling<br />
Compliance with regulations and<br />
voluntary codes concerning product<br />
and service information and labeling<br />
Health and safety impacts of products<br />
Compliance with regulations on<br />
health and safety impacts<br />
Product and service information and<br />
labeling<br />
Compliance with regulations and<br />
voluntary codes concerning product<br />
and service information and labeling<br />
OCC (Head<br />
Office)<br />
Survey/FGD,<br />
Quarterly conduct of<br />
Employee Council<br />
and Expanded<br />
Labor-Management<br />
Councils, Townhall<br />
meetings, Union<br />
leaders meeting<br />
Spending on local<br />
suppliers<br />
Screening of new<br />
suppliers using<br />
environmental<br />
criteria<br />
Screening of new<br />
suppliers using<br />
labor practices<br />
criteria<br />
Screening of new<br />
suppliers using<br />
human rights<br />
criteria<br />
Product and service information and<br />
labeling<br />
Compliance with regulations and<br />
voluntary codes concerning product<br />
and service information and labeling<br />
Let us know what you think<br />
The improvements in our sustainability performance over the years are due to regularly conducted monitoring and evaluation. This includes<br />
feedback from the users of this report. We have uploaded copies of our reports on our website, and we want to hear from you. Share with us your<br />
thoughts by sending us an email at investorrelations@energy.com.ph or by filling in the form in the Contact Us section of our website<br />
www.energy.com.ph.<br />
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