One of the key areas where the Philippines can make a significant impact is by leveraging its abundant natural resources to transition to renewable energy sources. By increasing investments in solar, wind, and hydroelectric power, the nation can reduce its reliance on fossil fuels, thereby lowering its carbon footprint.

This transition is crucial for achieving net zero and offers the added benefit of creating a more resilient energy infrastructure less susceptible to disruptions caused by extreme weather.

SM Prime Holdings, Inc. recognizes the equal importance and urgency of both climate change adaptation and mitigation. As part of our strategy, we are investing 10% of our Capital Expenditure (CAPEX) in sustainability and disaster resilience design.

A significant initiative supporting this commitment is SM Prime’s pledge to achieve net zero emissions by 2040. As the country’s leading integrated sustainable property developer, we have committed to the Science-Based Targets Initiative (SBTi), a recognized global standard for corporate decarbonization targets. This makes us one of the few corporations in the Philippines to do so. To ensure our near and long-term science-based targets for 2030 and 2040 align with the global commitment to achieve net zero by 2050, SM Prime collaborates with the World-Wide Fund for Nature Philippines (WWF) through their Corporates for a Better Planet Initiative (CBPI) program.

Using solar panels or other renewable energy sources lowers the carbon footprint, leading to reduced greenhouse gas emissions and decreased reliance on non-renewable energy.

This ambitious target is supported by concrete actions, such as the installation of onsite solar panels across various properties and strategic partnerships for renewable energy sourcing. These initiatives not only reduce the company's carbon footprint but also set a precedent for other businesses to follow, demonstrating that sustainable practices can be integrated into core business operations. Pledging to advance every person’s right to a better quality of life through heightened climate action, disaster risk reduction, biodiversity protection, and our strategic corporate social responsibility programs, this commitment places climate action at the forefront as one of SM Prime’s sustainability agenda.

SM Supermalls have enhanced natural lighting and improved insulation, reducing energy needs for lighting, heating, and cooling, leading to more efficient and environmentally friendly operations.

Using solar panels or other renewable energy sources lowers the carbon footprint, leading to reduced greenhouse gas emissions and decreased reliance on non-renewable energy.

“Finding the right champions within the company – that’s very important. It helps to engage the leaders from the top,” said Custodio, who has seen the history of the shared goals between the NGO and its many corporate partners over the years.

Ms. Jessica Bianca Sy, Lead Executive for Design, Innovation and Strategy for SM Prime and SMDC, shares her insights on sustainable and climate-resilient integrated properties.

WWF-Philippines and SM Prime Holdings, Inc., (SM Prime) have partnered on successful programs such as the YOUth are the Future, the annual Earth Hour campaign with SM Supermalls, SM Hotel’s Sustainable Diner, and the Hamilo Coast Sustainable Development project that’s now in its 14th year.

Jonas Dumdum of Nomura Research Institute (NRI) Manila and World-Wide Fund for Nature (WWF)-Philippines Executive Director Katherine Custodio on Collaborative Partnerships for Climate Resilience, at the breakout session of the 7th Annual Association of Pacific Rim Universities – Sustainable Cities and Landscapes Conference and Student Symposium 2024 (APRU-SCL 2024) Conference on Advancing Sustainable Cities and Communities through Science, Technology, and Innovations, is hosted and organized this year by the University of the Philippines Los Baños (UPLB).

“At SM Prime, we dream big for our shared future. True prosperity transcends financial success. Our commitment to developing sustainable integrated properties is matched by our efforts to foster vibrant, inclusive communities wherever we build legacy properties that weather the challenges of time and that last for generations,” said Ms. Jessica Bianca Sy, Lead Executive for Design, Innovation and Strategy for SM Prime and SM Development Corporation (SMDC), during the event.

As one of Asia’s leading integrated property developers, SM Prime believes that taking the right climate action must be grounded in science and endeavor to transition to a net-zero economy. SM Prime’s partnership with WWF-PH ensures that its near and long-term science-based targets for 2030 and 2040, align with the global commitment to achieve net zero by 2050.

“WWF-PH is pleased to work with SM Prime on their decarbonization efforts through our Corporates for a Better Planet Initiative (CBPI) program. Companies such as SM Prime are guided in identifying climate-related risks, working on a roadmap, and publicly committing to their science-based targets,” said Custodio.

“Change does not happen overnight. This is something we have learned in our work with communities all over the country. True partners are willing to work together for a long time, and actively listen to each other,” said Custodio, when asked by Dumdum about climate partnerships and shared purpose. “When your project positively impacts people’s livelihood and wellbeing - when people’s lives improve in a durable way, that’s when you know you’ve created an impact,” she said.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. SM Prime is pursuing the next horizon on integrated property development and onward to building sustainable cities of the future.

The 7th APRU-SCL 2024 is hosted and organized this year by the University of the Philippines Los Baňos, at the SMX Aura Convention Center, from August 6-8, 2024. For more information, email: hspdconf@up.edu.ph or visit the website: dcerp.che.uplb.edu.ph/ichspd. ###.