SM Investments stays on track for 40% emissions cut by 2040

Insider Spotlight

• SM Investments says it remains on track to reduce greenhouse gas emissions by 40 percent by 2040 through renewable energy and efficiency initiatives
• The conglomerate has installed more than 200,000 solar panels across its properties and continues to expand investments in geothermal energy
• BDO Unibank has deployed about P1.2 trillion in sustainable financing, including support for 71 renewable energy projects with a combined capacity of 6,165 megawatts
  
  
  

SM Investments Corp. said it remains on track to cut its greenhouse gas emissions by 40 percent by 2040 as it continues investing in renewable energy, energy efficiency, and operational resilience across its businesses. 

The company said the target builds on years of investments designed to lower emissions while improving reliability and reducing costs.

Speaking during the MUFG NOW Manila forum titled Pathways to a Sustainable Future: Opportunities and Challenges, SM Investments consultant and head of sustainability and investor relations Timothy Daniels said the company’s emissions reduction strategy is anchored on practical measures already being implemented across the group.

Why it matters

The company’s sustainability roadmap reflects how Philippine conglomerates are increasingly integrating climate-related investments into long-term business strategy, while supporting the country’s transition to cleaner energy.

“When we looked at our emissions, we identified where we could make meaningful reductions and developed a target supported by specific programs and investments. We wanted a goal that reflects what we can achieve based on actions we are taking today,” Daniels said in a statement. 

“For us, sustainability helps reduce costs, improve reliability, and make our operations more resilient. It's simply part of how we run the business,” Daniels added. 

Across its operations, SM has installed more than 200,000 solar panels on company properties to generate electricity and reduce reliance on grid power. Its mining subsidiary, Carmen Copper Corp., also operates a three-hectare floating solar facility at the Malubog Reservoir in Cebu, where 8,540 solar panels generate 4.99 megawatts of renewable energy, enough to potentially supply around 10 percent of the mine’s power requirements.

 Timothy Daniels

SM Investments consultant and head of sustainability and investor relations 

The bigger picture

SM has also expanded its renewable energy investments through Philippine Geothermal Production Company, which operates geothermal steam fields in South Luzon.

Beyond its own operations, the group said it is supporting the country’s energy transition through BDO Unibank. 

The bank has deployed about P1.2 trillion in sustainable financing, including funding support for 71 renewable energy projects with a combined installed capacity of 6,165 megawatts.

Daniels said achieving deeper emissions reductions will also depend on broader developments in the country's energy sector, including greater availability of renewable energy, stronger transmission infrastructure, and continued grid modernization. 

While companies can improve energy efficiency and expand renewable power use within their operations, wider systemic improvements will play a critical role in enabling long-term decarbonization efforts. —Vanessa Hidalgo| Ed: Corrie S. Narisma