SM Prime is at the forefront of sustainability through a strategic framework that leverages the company's extensive operations, significant economic impact, and cultural influence.
It's sustainability journey began in the 90's and was already focusing on resilience and practicality. The company has always valued substance over style, favoring strategies grounded on real-world application rather than flashy, short term fixes. Its strategy is built on what truly matters to the business and the community it serves, ensuring that its sustainability efforts are both effective and enduring.
For its 2023 Annual 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.
For its sustainability framework of Economy, People, Planet, and Community, SM Prime has three goals: Environmental Sustainability, Prosperity for All, and Climate Resilience. These are all aimed to create a future marked by sustainability, resilience, and widespread prosperity by 2030, 2040, and beyond.
SM Primes has two significant programs under its environmental sustainability: Net Zero by 2040 and #SMWasteFreeFuture.
Net Zero by 2040. The company aims to enhance people's quality of life by focusing in its 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. SM Prime has been collaborating with 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 Lim, President and CEO of SM Prime.
#SMWasteFreeFuture was launched in support of the United Nations Environment Programme's (UNEP) International Day of Zero Waste. This program has simple segregation scheme: Recycle, Disposable, and Compostable (RDC), which aims to reduce overall waste generation and increase the waste diversion rate from landfills via sustainable disposal methods. This initiative was launched nationwide for SM employees and across all SM property groups and stakeholders.
SM Prime's other existing programs and partnerships that promote better waste management solutions includes: SM Supermalls' Trash-to-Cash recycling market, Plastic Waste Collection and E-Waste Collection programs; regular coastal and estero clean-up activities that 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. It has also launched Tela Tales, a program that recycles condemned linens.
SMDC has also partnered with Globe and Scholars of Sustenance Philippines for the Hapag Movement. This advocacy aims to alleviate involuntary hunger that affects 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.
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.
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 Primes' developments serve as catalyst for socio-economic progress, delivering tangible benefits to all stakeholders. Founded by Henry Sy, the company remains committed to his vision of bringing world-class developments to the Philippines. A vision perfectly exemplified through the Mall of Asia Complex which offers a blueprint for future cities that go beyond commercial success to embrace a holistic approach to urban development.
"True leadership is marked by a solid dedicated 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," said Jeffrey C. Lim, SM Prime President and CEO.
SM Prime has been involve in providing service and transformative growth in the Philippine real estate industry since 1994, signifying its three decades of excellence.
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