The critical consensus according to global experts is that the world only has until 2030 before it reaches a tipping point. Beyond this, global experts believe it will be a “new normal of extremes” – extreme heat, extreme precipitation, extreme winds.

In his remarks during a recently held sustainability forum hosted by Manila Bulletin, Hans “Chico” Sy, Jr. of the SM Group said SM is very aware of climate change in the way it affects the Philippines and individuals personally.

“As a company, SM wants to make sure that the Philippines keeps growing and is a sustainable place to live in,” Mr. Sy said in his remarks.

Mr. Sy emphasized that “SM believes in practical, flexible realistic and meaningful solutions.” And it offers these solutions in areas of the two biggest concerns in the next decade—energy and water.

SM Prime Holdings, the SM Group’s property arm, is committed to deliver on its goal to increase its renewable energy portfolio to more than 50 percent this year. 

It recently announced a long-term deal with AboitizPower for Cleanergy supply. This long-term contract will power SM Prime properties, including malls, leisure homes, offices, hotels, and other establishments under the Retail Competition and Open Access (RCOA) by yearend.

“This means that the private sector is very supportive in funding the energy efforts of the country,” Mr. Sy said.

On water recycling, SM’s sewage treatment plants recycle in total about 8.8 billion liters of water, equivalent to over 3,500 Olympic sized pools, lessening dependence on fresh water sources for air conditioning operations, gardening, water closet flushing and other non-potable uses.

SM builds rain water catchments in its malls to harvest large volumes of rain water particularly in flood prone areas. In doing this, its 22 catchment basins help communities address flooding and optimize water as a scarce resource.

“Our strong focus on climate resilience means dealing with real, practical problems like reducing our vulnerability to typhoons, addressing water, energy shortages and strengthening business continuity,” Mr. Sy said.

“What matters is what we do and that things are simply done. We want to develop a common roadmap to agree on common standards that can measure our progress together,” Mr. Sy said. “As a company, SM wants to make sure that the Philippines keeps growing and is a sustainable place to live in.”