SM Investments Corporation (SMIC), the holding giant of the SM Group, is targeting a 40 percent reduction in its greenhouse gas emissions by 2040 by scaling up renewable energy adoption, deploying energy-efficient systems, and driving sustainability initiatives across its business portfolio.
Speaking at the MUFG NOW Manila forum titled “Pathways to a Sustainable Future: Opportunities and Challenges,” SM Investments Consultant and Head of Sustainability and Investor Relations Timothy Daniels explained that the target builds on years of continuous energy management and clean energy adoption.
“When we looked at our emissions, we identified where we could make meaningful reductions and developed a target supported by specific programs and investments. We wanted a goal that reflects what we can achieve based on actions we are taking today,” he said.
Daniels underscored that eco-friendly policies deliver tangible commercial advantages in addition to environmental benefits.
“For us, sustainability helps reduce costs, improve reliability, and make our operations more resilient. It’s simply part of how we run the business.”
To lower its reliance on the main electrical grid, the SM Group has deployed over 200,000 solar panels across its commercial properties. Furthermore, its mining unit, Carmen Copper Corporation, operates a three-hectare floating solar system at the Malubog Reservoir in Cebu.
With 8,540 panels generating 4.99 megawatts (MW) of clean electricity, the project is capable of covering roughly 10 percent of the mine’s power needs.
The conglomerate’s clean energy push also extends to its stake in the Philippine Geothermal Production Corporation (PGPC), which operates geothermal steam fields across Southern Luzon. Additionally, its banking arm, BDO Unibank, has catalyzed the broader energy transition by channeling nearly ₱1.2 trillion into sustainable financing—including backing 71 renewable energy developments with an aggregate capacity of 6,165 MW.
However, Daniels pointed out that hitting more ambitious climate targets requires systemic improvements outside individual company operations.
He noted that while private firms can upgrade efficiency, deploy solar infrastructure, and source green power, long-term impact hinges on expanding the nation’s overall renewable supply, upgrading transmission capacity, and modernizing the national power grid.