PASAY CITY — Companies once treated sustainability as separate from their core business.
SM no longer sees it that way.
Speaking at the recent MUFG NOW Manila forum, Timothy Daniels, consultant and head of sustainability and investor relations at SM Investments, said the company’s sustainability initiatives succeed because they make sound business sense.
“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 evident across the SM group.
The company has installed more than 200,000 solar panels across its properties. In Cebu, Carmen Copper Corp. operates a 4.99-megawatt floating solar facility that could supply about 10 percent of the mine’s power needs. SM also expanded its renewable energy portfolio through Philippine Geothermal Production Co.
The group’s sustainability efforts extend beyond its own operations. Through BDO Unibank, SM has financed renewable energy projects nationwide. To date, BDO has deployed about ₱1.2 trillion in sustainable financing, including support for 71 renewable energy projects with a combined capacity of 6,165 megawatts.
Daniels acknowledged that advancing sustainability across a conglomerate with interests in retail, banking, property, mining and other industries requires different strategies for different businesses.
“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.”
SM said it remains on track to achieve its target of cutting greenhouse gas emissions by 40 percent by 2040.
“We are on track with the 40 percent 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 Daniels, sustainability is not an end in itself but a strategy that strengthens the business over the long term.
“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.” PR
