Insider Spotlight
Speaking at the MUFG NOW Manila forum, SM Investments consultant and head of sustainability and investor relations Timothy Daniels said the group has moved beyond treating sustainability as a separate corporate social responsibility exercise.
Why it matters
"SM is past the point of thinking whether investing in sustainable solutions is merely part of corporate social responsibility," Daniels said. "For us, these are sensible business solutions that reduce costs, improve reliability, and help de-risk the future."
That approach is increasingly visible across SM's portfolio. More than 200,000 solar panels have been installed across its properties, while Carmen Copper Corp. in Cebu operates a 4.99-megawatt floating solar facility that could potentially provide about 10 percent of the mine's power requirements.
The bigger picture
SM has also expanded its renewable energy exposure through Philippine Geothermal Production Co., while BDO Unibank has deployed about P1.2 trillion in sustainable financing, including support for 71 renewable energy projects with combined capacity of 6,165 megawatts.
The company release said SM's sustainability push spans businesses with markedly different operating realities, from retail and banking to property and mining, requiring individual implementation plans rather than a single group-wide solution.
"We are a diverse group so each business we are in has different sustainability challenges and different solutions," Daniels said. "At the parent company it's about making sure that we keep everybody grounded, that every business has a very robust implementation plan and is getting the support to do it."
What's next
SM said it remains on track toward its goal of reducing greenhouse gas emissions by 40 percent by 2040, while continuing to explore projects that can deliver both environmental and commercial benefits.
"We are on track with the 40% reduction goals we announced," Daniels said. "And we keep looking for more ideas, like the floating solar panels that we put up which is the first of its kind in the Philippines."
For SM, that makes sustainability fundamentally about strengthening the business.
"When you are doing sustainability well, you are actually making your business stronger and you're investing in your future. A lot of sustainability initiatives will help you reduce cost, become a better company, become more efficient, and reduce future risk." — Princess Daisy C. Ominga| Ed: Corrie S. Narisma
