MANILA, Philippines — Lopez-led Energy Development Corp. (EDC) is now among the largest publicly-traded companies in the world, making significant revenues from clean energy.

EDC has made it to the Carbon Clean 200™ a list of the top 200 firms that lead the way with solutions for the transition to a clean energy future.

EDC ranked 119th in the list and is the only Philippine company to be included in the report.

The Clean200 ranks the largest publicly-listed companies worldwide by their total clean energy revenues as rated by Bloomberg New Energy Finance (BNEF).

Since the initiative started in July 2016, Clean200 companies have generated a total return of 32.1 percent, almost double the 15.7 percent for its fossil fuel benchmark the S&P 1200 Global Energy Index.

„It is interesting that the Clean200 managed to almost double the performance of fossil fuel energy stocks over the past year and half, given the general upswing in oil prices over that period,” said Toby Heaps, CEO of Corporate Knights and report co-author.

“While the renewable energy companies are holding their own, the outperformance is being driven by companies in the business of energy efficiency,” he said.

In order to be eligible, a company must have a market capitalization greater than $1 billion as of the fourth quarter of 2017 and earn more than 10 percent of total revenues from clean energy sources.

The list shows the companies that contributed the most to the Clean200’s outperformance are involved in the provision of products, materials and services related to energy efficiency.

The top 10 companies making the list are Siemens Ag, Toyota Motor Corp., Schneider Electric Se, Abb Ltd, Panasonic Corp., Vestas Wind Systems, Bombardier Inc., Innogy Se, Sse Plc and Emerson Electric Co.

Meanwhile, Chinese companies dominated the list with 68, followed by the US with 35 firms and Japan with 21 corporations.

“Market forces continue to show that the new energy economy is not only a growth sector, but continues to outperform fossil fuel based energy. We are witnessing the ‘Great Transition’ that has been predicted,” said Andrew Behar, CEO of As You Sow and report co-author.

Clean200 is a collaboration between As You Sow—a non-profit foundation chartered to promote corporate social responsibility, and Corporate Knights—a Toronto-based media, research and financial information products company.

The latest list is the fourth update of Clean200. It 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 filters out companies profiting from weapons manufacturing, tropical deforestation, the use of child and/or forced labor, and companies that engage in negative climate lobbying.