Philippines' Urgent Call to Net Zero Climate Action

As the Philippines enters typhoon season, recent extreme weather has once again highlighted the nation's vulnerability. These events underscore the urgent need for the country to engage in global efforts toward achieving net zero emissions. The typhoon has served as a stark reminder that the Philippines must actively participate in climate change mitigation, not only to reduce future impacts but also to contribute to global solutions.

Net zero refers to balancing greenhouse gas emissions with an equivalent amount removed from the atmosphere. For the Philippines, a country frequently affected by severe weather, achieving net zero is crucial for enhancing climate resilience. The recent storm has made it clear that the nation cannot remain on the sidelines but must be a proactive player in global climate action.

Utilizing solar panels and other renewable energy sources reduces carbon footprints by lowering greenhouse gas emissions and decreasing dependence on non-renewable energy.

A key area for the Philippines to make a significant impact is by transitioning to renewable energy and leveraging its natural resources. By investing in solar, wind, and hydroelectric power, the country can reduce its dependence on fossil fuels and lower its carbon footprint. This transition not only supports net zero goals but also creates a more resilient energy infrastructure.

SM Prime Holdings, Inc. is committed to both climate adaptation and mitigation. As part of this effort, 10% of our capital expenditure (CAPEX) is dedicated to sustainability and disaster resilience. A major initiative is our pledge to achieve net zero emissions by 2040. As a leading sustainable property developer, we are one of the few Philippine corporations committed to the Science-Based Targets Initiative (SBTi), aligning our 2030 and 2040 goals with the global net zero target of 2050.

This commitment is backed by actions such as installing solar panels across properties and forming strategic partnerships for renewable energy sourcing. These efforts not only reduce SM Prime’s carbon footprint but also set an example for other businesses to integrate sustainability into their operations.

SM Supermalls have optimized natural lighting and enhanced insulation, reducing energy requirements for lighting, heating, and cooling. This results in more efficient and environmentally friendly operations.

By prioritizing climate action, disaster risk reduction, biodiversity protection, and strategic corporate social responsibility programs, SM Prime aims to improve quality of life while leading the charge on climate action.