SM makes great strides in sustainability practices in 2015
SM Investments Corporation (SM), the country’s largest conglomerate, has reported significant progress in its sustainability practices which involves its operations, social development programs and environmental conservation efforts. These efforts are disclosed in SM’s 2015 Environmental, Social and Governance Report released on April 27 during the company’s Annual Stockholders’ Meeting.
Among its key initiatives in 2015, climate change adaptation became one of its top priorities, with the SM Group taking a leadership role in spearheading the United Nations Private Sector Alliance for Disaster Resilient Societies (UN ARISE) initiative in the country. SM and its subsidiaries signed the commitment, enjoining other Philippine companies to help raise awareness and to implement projects in disaster risk reduction. Mr. Hans T. Sy, President of property arm SM Prime Holdings, Inc. sits as the only Filipino in the 12-member board of UN Arise.
The SM group also showed progress in sustainable operations, particularly in the areas of energy efficiency, water management, waste management and greenhouse gas (GHG) emissions. In 2015 for instance, despite continued growth in its footprint to 7.3 million square meters in the Philippines, SM Supermalls consumed a monthly average of energy intensity of 41.5 MJ/sqm (megajoules per square meter), from 43.3 MJ/sqm in 2014. It also continued to recycle the water used in all SM Supermalls so 3.9 million cubic meters out of the 13.1 million cubic meters of water consumed in 2015 was reused. This is equivalent to the amount of water in over 1,500 Olympic-sized swimming pools. The SM malls also recycled and reused 38% of its solid waste materials. And given its various means to achieve energy efficiency, the malls prevented additional emissions of about 110,000 tonnes of CO2 (carbon dioxide).
Committed to social inclusion, SM works closely with communities through SM Foundation, SM Cares and BDO Foundation. The programs focus on education, healthcare, shelter, food security, disaster response and rehabilitation and care for persons with special needs. In 2015 alone, SM Foundation supported 1,500 college scholars, built eight public school buildings with 32 classrooms, conducted 114 medical missions, renovated and refurbished 14 health centers and conducted 20 farmers’ training programs.
SM Investments Corporation, for its part, turned over a nine-level building to the University of the Philippines (UP) Professional Schools at Bonifacio Global City in Taguig. The new building in the satellite campus spans a total floor area of 12,000 square meters and houses 29 classrooms three computer laboratories, learning commons, an auditorium, a moot court for your law students, a multi-purpose hall for various events, conference rooms, office spaces, and faculty lounges.
BDO Foundation, on the other hand, built nine school buildings with 32 classrooms. In addition, the foundation renovated eight health centers, built and donated 469 homes for displaced families and served 61,170 families in relief operations.
With respect to disaster rehabilitation and response, SM Cares turned over 200 homes to families that survived Typhoon Yolanda (Haiyan) in Concepcion Iloilo. This is the second SM Cares Village completed following the first village with 200 houses that was donated in Bogo, Cebu. SM Cares is nearing the completion of its target 1,000 homes for Yolanda victims with the turnover of another 400 homes in Tacloban in 2016, the area hardest hit by the typhoon. The fourth and last village in Ormoc, Leyte will also be turned over this year.
SM fosters the practices of good governance across the whole group by adhering to principles and policies that promote integrity, transparency and equal opportunity. SM has been voted one of the ten most aspired companies to work for in the country by Jobstreet in its 2015 Top Companies Report. In addition, it received various awards from both local and international award giving bodies highlighting the group’s commitment to good corporate governance.
The SM subsidiaries that have contributed to its ESG report are SM Retail Inc., SM Prime Holdings, Inc., BDO Unibank Inc. and China Banking Corporation. The said report is the company’s second group-wide ESG Report that adheres to global practices.
Download the ESG report here.