2015 Annual Report

Messages

The world is now 1°C warmer than it was in pre-industrial times (the mean global temperature then was 13.7°C), which means we only have 0.5° – 1°C to go before we exceed the commitment made in 21st Conference of Parties in Paris (COP 21) to restrain the average global temperature rise to less than 2°C from what it was in pre-industrial times. Beyond this threshold, scientists acknowledge that the world becomes extremely dangerous for its inhabitants and Yolanda will be nothing compared to what we will see then. Most of them agree that atmospheric concentration of CO2 should not go beyond 450 parts per million (ppm). This year, that figure already stands at 400 ppm and we’re no longer likely to see it go below that in our lifetimes. The world has already used up 88 percent of that carbon budget and, at current emission rates, we will likely use up the rest by 2020. Yet the energy infrastructure being built today still threatens to “lock-in” these deadly carbon emission patterns decades into the future. The later we all take action in reducing carbon emissions, the more difficult, drastic, and radical those reductions will have to be. Fatih Birol, Chief Economist of the normally conservative International Energy Agency (IEA), was quoted in an article by The Guardian, following the agency’s release of the World Energy Outlook report in November 2011: “The door is closing. I am very worried—if we don’t change direction now on how we use energy, we will end up beyond what scientists tell us is the minimum [for safety]. The door will be closed forever.”

The same article from The Guardian continued with this: “Yet, despite intensifying warnings from scientists over the past two decades, the new infrastructure even now being built is constructed along the same lines as the old, which means that there is a “lock-in” effect—high-carbon infrastructure built today or in the next five years will contribute as much to the stock of emissions in the atmosphere as previous generations. The “lock-in” effect is the single most important factor increasing the danger of runaway climate change.”

What should be even more disturbing is that our country and millions of less fortunate Filipino families are bearing, and will continue to bear, a disproportionate share of the devastation being wrought on the planet by climate change. In a report by Germanwatch which releases the Global Climate Risk Index yearly, the Philippines ranked as the number one country experiencing weather related disasters between 1995-2014 (the Philippines recorded 337 events, Vietnam – 225, Bangladesh – 222). We can see why it’s no coincidence that four of the five most powerful and destructive typhoons to hit the country have happened in the last five years. Indeed, climate change is a disruptive force on the environment that carries ripple effects on everything: from public safety and infrastructure; food, water, and energy production; on controlling diseases and poverty alleviation; and really, life as we know it on our planet. If any country in the world has a stake in seeing global carbon emissions reduced, it’s the Philippines, where millions more lives will be destroyed or lost if the march towards a warmer world cannot be stopped. With EDC having literally been at the center of events in 2013, we witnessed firsthand the devastation and suffering wrought on so many lives in the days, months, and years following Yolanda. That experience will always be a force that quietly but intensely guides how we move forward as a company.

Pages: 1 2 3 4 5

The world is now 1°C warmer than it was in pre-industrial times (the mean global temperature then was 13.7°C), which means we only have 0.5° – 1°C to go before we exceed the commitment made in 21st Conference of Parties in Paris (COP 21) to restrain the average global temperature rise to less than 2°C from what it was in pre-industrial times. Beyond this threshold, scientists acknowledge that the world becomes extremely dangerous for its inhabitants and Yolanda will be nothing compared to what we will see then. Most of them agree that atmospheric concentration of CO2 should not go beyond 450 parts per million (ppm). This year, that figure already stands at 400 ppm and we’re no longer likely to see it go below that in our lifetimes. The world has already used up 88 percent of that carbon budget and, at current emission rates, we will likely use up the rest by 2020. Yet the energy infrastructure being built today still threatens to “lock-in” these deadly carbon emission patterns decades into the future. The later we all take action in reducing carbon emissions, the more difficult, drastic, and radical those reductions will have to be. Fatih Birol, Chief Economist of the normally conservative International Energy Agency (IEA), was quoted in an article by The Guardian, following the agency’s release of the World Energy Outlook report in November 2011: “The door is closing. I am very worried—if we don’t change direction now on how we use energy, we will end up beyond what scientists tell us is the minimum [for safety]. The door will be closed forever.”

The same article from The Guardian continued with this: “Yet, despite intensifying warnings from scientists over the past two decades, the new infrastructure even now being built is constructed along the same lines as the old, which means that there is a “lock-in” effect—high-carbon infrastructure built today or in the next five years will contribute as much to the stock of emissions in the atmosphere as previous generations. The “lock-in” effect is the single most important factor increasing the danger of runaway climate change.”

What should be even more disturbing is that our country and millions of less fortunate Filipino families are bearing, and will continue to bear, a disproportionate share of the devastation being wrought on the planet by climate change. In a report by Germanwatch which releases the Global Climate Risk Index yearly, the Philippines ranked as the number one country experiencing weather related disasters between 1995-2014 (the Philippines recorded 337 events, Vietnam – 225, Bangladesh – 222). We can see why it’s no coincidence that four of the five most powerful and destructive typhoons to hit the country have happened in the last five years. Indeed, climate change is a disruptive force on the environment that carries ripple effects on everything: from public safety and infrastructure; food, water, and energy production; on controlling diseases and poverty alleviation; and really, life as we know it on our planet. If any country in the world has a stake in seeing global carbon emissions reduced, it’s the Philippines, where millions more lives will be destroyed or lost if the march towards a warmer world cannot be stopped. With EDC having literally been at the center of events in 2013, we witnessed firsthand the devastation and suffering wrought on so many lives in the days, months, and years following Yolanda. That experience will always be a force that quietly but intensely guides how we move forward as a company.

Pages: 1 2 3 4 5