SM advances climate action with nature-based solutions

It developed a Sustainability Management System focused on the two key policies of Climate Action and Resource Management. 

Philippines' SM Group continues to back the promotion of a low-carbon economy through nature-based solutions across its operations.

Timothy Daniels, consultant and head for investor relations and sustainability at SM, said the group has developed a Sustainability Management System focused on Climate Action and Resource Management policies to mitigate climate change effects and manage natural resources responsibly.

These initiatives were shared during an educational forum hosted by the Carbon PH Coalition on 11 April. SM is a founding member of the coalition and actively participates in advocating for environmentally supportive policies, including the review of House Bill 7705 promoting a low-carbon economy.

Daniels noted the Philippines' vulnerability to climate change despite its low global greenhouse gas emissions. 

“We only contribute 0.3% percent of global greenhouse gas emissions and yet we are among the top 3 most vulnerable countries to the effects of climate change,” he pointed out.

Additionally, Climate Change Commission Secretary Robert Borje stressed the importance of public-private collaboration in achieving decarbonization goals.

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SM Prime Holdings, Inc., the property arm of the group, recently entered a joint venture with GUUN Co., a Japanese environmental solutions company, to reduce landfill impact and develop waste management infrastructure.

Meanwhile, SM Retail Inc.'s Green Finds program promotes a circular system, introducing sustainable manufacturing and encouraging a green lifestyle among producers and consumers alike.

The Philippine Geothermal Production Company (PGPC), a portfolio investment of SM, also contributes to renewable energy goals by operating two steam fields producing around 300 megawatts of steam converted into electrical energy.

“We cannot exist in isolation and we are part of a grander ecosystem,” said Daniels. “We are aligned with Carbon PH in its vision to address climate change through practical solutions and policy advocacy.”