August 10, 2024 | 12:00am
MANILA, Philippines — The SM Group has trumpeted its investments in promoting a sustainable and greener future for the country.
Jessica Bianca Sy, lead executive for design, innovation and strategy of SM Prime Holdings Inc. and SM Development Corp. (SMDC), said that investment decisions at SM prioritize environmental, social and governance factors as the group aligns its investments with the Sustainable Development Goals.
Sy said that SM’s initiatives address key environmental issues including climate change, pollution, deforestation, energy efficiency and waste management.
“At SM, we believe that securing a better future for generations to come hinges on our commitment to innovative solutions and projects that embody sustainability principles. Sustainable investments play a crucial role in this endeavor,” Sy said.
As part of the group’s focus on pursuing investments that conserve nature, at least 10 percent of SM Prime’s capital expenditure is allocated to sustainable and resilient designs, including science-based solutions to mitigate natural disaster impacts on properties.
SM currently manages 23 malls with water catchment facilities that keep nearby communities safe from flooding and prevent overloading of current infrastructure systems.
Last year, SM Prime managed 165.7 million tons of waste, with 92.7 million tons properly disposed of, 13 percent recycled and five percent composted.
SMDC, SM Prime’s residential arm, also prioritizes climate resilience in home development.
In 2022, SMDC achieved at least 50 percent renewable energy usage, with 12.67 megawatts of solar panels installed in homes.
“For nearly three decades, we’ve made home ownership accessible with our goal, a home for every Filipino. Community building is central to our values, guiding all our projects towards a resilient future,” Sy said.
SM is committed to reducing its environmental footprint while fostering economic growth.
The group has adopted renewable energy solutions, sourcing 25 percent of electricity from renewable sources and recycling 14.2 million cubic meters of water in 2023.
Through SM Cares, a division of SM Foundation, the company has engaged over 17,000 volunteers in the international coastal cleanup in 2023, removing 100,432 kilos of trash from 15 malls nationwide.
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