Sustainability makes cents for SM Investments
Green, as they say, is the color of money and nature.
Manila, Philippines - SM Investments Corp., the parent company of the SM Group, believes that adopting sustainable practices is a wise investment decision for the company. The Sy family-led conglomerate, which spans retail, banking, property, and other high-growth sectors, sees sustainability investments as a means to strengthen its businesses rather than merely an expense.
According to Frederic DyBuncio, SM Investments president and CEO, the company integrates sustainability into its governance, accountability, and long-term growth strategies, ultimately creating value for stakeholders. Over the years, SM Investments has invested in renewable energy, energy efficiency, and sustainable financing, which have resulted in significant benefits for the business.
These sustainability measures have helped reduce costs, improve reliability, and enhance operational efficiency across the group. For instance, SM Supermalls, which operates the largest shopping center network in the Philippines, has installed over 200,000 solar panels at its properties, generating electricity and reducing reliance on grid power. The company has also equipped 76 out of its 90 malls with solar photovoltaic systems and EV charging stations nationwide.
Moreover, SM Investments' wholly-owned subsidiary, Philippine Geothermal Production Co. (PGPC), supplies geothermal steam to power households, offices, and industrial facilities around the clock. PGPC's operations in geothermal steam fields in Batangas, Laguna, and Albay alone can power hundreds of thousands of households annually. The group is also developing new steam fields in five areas in Luzon to generate up to 400 additional megawatts of clean, renewable geothermal power.
SM Investments' commitment to sustainability extends beyond its own operations, as seen in its support for BDO Unibank Inc. and China Banking Corp.'s sustainable financing initiatives. SM Prime Holdings Inc., SM Markets, and SM Prime Holdings Inc. have all contributed to reducing plastic footprints and promoting eco-friendly practices throughout the SM Group. By treating sustainability as an investment rather than an expense, SM Investments demonstrates that going green indeed makes business sense.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
