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Building a sustainable future with SM Prime

SM Prime leads the way in sustainable development, integrating sustainability into its core business strategy.

Nowadays, sustainability is a key factor in all sectors of the economy. One of Asia’s top integrated property developers, SM Prime Holdings, Inc. (SM Prime), elevates sustainability through a strategic framework that makes use of its broad operations, substantial economic impact, and cultural influence.

SM Prime embarked on its sustainability journey in the 1990s, driven by a determination to be resilient and pragmatic. The organization has always placed a higher importance on substance than style, choosing tactics based on practical application over glitzy, temporary solutions. Its approach is based on what matters most to the company and the community it serves, making sure that its sustainability initiatives are successful and long-lasting.

In its 2023 Annual Integrated Report, SM Prime introduced its Sustainability Ambition Roadmap with a clear and powerful message: Together for a sustainable future – aligned with its vision of creating and managing innovative, sustainable, and integrated property developments that enhance the quality of life for all.

SM Prime’s sustainability strategy is built on three main goals: (1) Environmental sustainability, (2) Prosperity for all, and (3) Climate resilience.

Building on its sustainability framework of Economy, People, Planet, and Community, SM Prime identified three major goals to pursue: Environmental sustainability, Prosperity for all, and Climate resilience – all aimed to create a future marked by sustainability, resilience, and widespread prosperity by 2030, 2040, and beyond.

Under its environmental sustainability strategy are two significant programs released by the company:  Net Zero by 2040 and #SMWasteFreeFuture.

Net Zero by 2040

SM Prime is committed to enhancing people’s quality of life by intensifying climate action, reducing disaster risks, investing in resilient design, protecting biodiversity, and implementing strategic corporate social responsibility programs, with its main focus on climate action toward a net-zero business. The company has been collaborating with the World-Wide Fund (WWF) for Nature-Philippines to establish science-based targets in alignment with the global commitment of a net-zero ambition by 2050.

“We understand the magnitude of the challenges we face to achieve our Net-Zero commitment. SM Prime is determined to take action and meet its climate commitments. This is one of our top agendas in sustainability,” said Jeffrey C. Lim, SM Prime President and CEO.  

SM City Santa Rosa’s solar photovoltaic (PV) system has 5,772 panels at 3.088 MWp capacity and has an annual solar energy production of up to 4.292GWh.

#SMWasteFreeFuture

SM Prime launched its vision for an #SMWasteFreeFuture, in support of the United Nations Environment Programme’s (UNEP) International Day of Zero Waste. The program introduces a simple segregation scheme: Recyclable, Disposable, and Compostable (RDC), all aimed at reducing overall waste generation and increasing the waste diversion rate from landfills through sustainable disposal methods. The initiative was launched nationwide for SM employees and across all SM property groups and stakeholders.

SM Prime continues to support existing programs and partnerships that promote better waste management solutions. Initiatives such as SM Supermalls’ Trash-to-Cash recycling market, Plastic Waste Collection and E-Waste Collection programs, and regular coastal and estero clean-up activities effectively engage the community in rethinking their relationship with waste.

To address food waste, SM Hotels and Convention Corporation (SMHCC) has pioneered projects such as The Sustainable Diner with WWF-PH, diverting 198,640 kg of food waste through bokashi composting and 40,013 kg through biodigesters. SMHCC also launched Tela Tales, a program that recycles condemned linens.

SM Prime gathers the community for a #SMWasteFreeFuture.

SM Development Corporation (SMDC) recently partnered with Globe and Scholars of Sustenance Philippines for the Hapag Movement, aimed at targeting food waste and involuntary hunger affecting millions of Filipinos. “As a community, we strongly believe in our ability to contribute to solving today’s waste issues. We understand that this may seem like a daunting challenge to overcome. However, by joining forces, we can create a world that our future generations truly deserve – if we have the courage to take on this journey together,” said Hans “Chico” Sy, Jr., President of SM Engineering Design and Development Corporation (SMEDD) and SM sustainability champion.

Water stewardship

SM Prime is committed to water stewardship by implementing innovative water conservation and management practices, ensuring that properties developed are more responsive and adaptable to the changing needs of communities.

SM City Baguio’s Rainwater Filtration Facility addresses water security and ensures a safe and sufficient water supply for the operations of the mall and its tenants.

Through its sewage water treatment plants, wastewater is processed, preventing contaminated water from polluting local waterways and for reuse. The recycled water is utilized in malls for water closet flushing, air conditioning operations and landscape greening.

SM Prime Holdings, Inc.’s Chairman Henry T. Sy, Jr. receives SM Prime’s 30th Listing Anniversary Plaque from the Philippine Stock Exchange’s President and CEO Ramon S. Monzon.

Prosperity for all

The advancements of SM Prime drive socioeconomic growth and benefit all parties involved in a concrete way. Henry Sy founded the business, and it is still dedicated to realizing his goal of providing top-notch developments to the Philippines. A vision that is aptly demonstrated by the Mall of Asia Complex, which provides a model for future cities that adopt a comprehensive approach to urban development and go beyond commercial success.

On July 23, SM Prime commemorated the company’s 30 years of being publicly traded, marking three decades of dedication and revolutionary expansion in the Philippine real estate sector.

“True leadership is marked by a solid dedication to collective success. Our journey at SM Prime demonstrates the power of dreaming big and the incredible achievements that follow when you pursue those dreams with determination and hard work.” – JEFFREY C. LIM, SM PRIME PRESIDENT AND CEO

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