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Manila Bulletin devider Business devider The Stock Market devider SM Offices boosts RE use to meet growing demand for sustainability

SM Offices boosts RE use to meet growing demand for sustainability

Published Oct 31, 2025 12:31 pm  |  Updated Nov 1, 2025 08:15 am
From rooftop solar grids to LEED-certified towers, SM Offices proves that clean energy drives resilient growth.
From rooftop solar grids to LEED-certified towers, SM Offices proves that clean energy drives resilient growth.
SM Prime Holdings, Inc. received the Five Golden Arrow Award from the Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Recognition held last October 23, 2025 at the Okada Manila Hotel. From Left to Right: ICD Chairperson Atty. Benedicta Du-Baladad; SM Prime Independent Director J. Carlitos G. Cruz; SEC Chairperson and CEO Atty. Francis Lim; and ICD Vice Chairperson Ida Ceniza-Tiongson.
SM Prime Holdings, Inc. received the Five Golden Arrow Award from the Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Recognition held last October 23, 2025 at the Okada Manila Hotel. From Left to Right: ICD Chairperson Atty. Benedicta Du-Baladad; SM Prime Independent Director J. Carlitos G. Cruz; SEC Chairperson and CEO Atty. Francis Lim; and ICD Vice Chairperson Ida Ceniza-Tiongson.
SM Prime Holdings Inc., one of Southeast Asia’s largest integrated property developers, reported that business unit SM Offices is scaling up its use of renewable energy (RE) as part of a broader push to make sustainability a driver of growth and tenant value.
SM Offices now sources more than half of its operational power from certified renewable energy, reflecting how clean energy adoption is reshaping the country’s commercial property landscape.
As of mid-2025, SM Prime has installed solar photovoltaic (PV) systems across 48 malls and offices with a combined capacity of 73 megawatts peak (MWp).
“SM Offices not only supports but also goes beyond the Philippine government’s target of having 50 percent of the country’s power generation come from renewable sources by 2040,” SM Prime Vice President and Head of SM Offices Alexis L. Ortiga said.
Under the National Renewable Energy Program (NREP) 2020–2040 of the Department of Energy, the Philippines aims to increase the share of renewables in its power generation mix to 35 percent by 2030 and 50 percent by 2040, supporting the country’s goals for energy security, sustainability, and climate resilience.
Across its expanding portfolio, SM Offices is integrating solar grids, sensor-enabled fixtures, and energy-efficient cooling systems into building design and operations—stabilizing energy costs, improving comfort and reliability, and enabling tenants to meet their sustainability commitments.
Several of its flagship developments—ThreeE-Com and FourE-Com Centers in the Mall of Asia Complex, Aura Tower beside SM Aura Premier in Bonifacio Global City, Mega Tower in Ortigas, and North Towers in Quezon City—have all achieved LEED Gold certification from the U.S. Green Building Council, underscoring its focus on performance and sustainability.
Currently, One E-Com, Two E-Com, and Five E-Com are undergoing LEED O+M certification, which recognizes excellence in the sustainable operation and maintenance of existing buildings.
Ortiga explained that their approach is both strategic and adaptive and noted that, “SM Offices remains resilient by integrating sustainability initiatives into its core strategies.”
He added that, “Our offices are located closer to where people live, helping reduce travel time and emissions, and we are expanding renewable energy use and EV charging infrastructure to support a lower-carbon economy.”
The model is proving commercially sound. Renewable energy reduces exposure to power price volatility, supports tenant ESG goals, and strengthens investor confidence.
For companies under increasing pressure to meet sustainability metrics, leasing from a renewable-powered portfolio offers both stability and reputational upside.
Meanwhile, SM Prime has once again earned the prestigious Five Golden Arrow Award from the Institute of Corporate Directors (ICD) for the third consecutive year.
The recognition affirms the company’s continued commitment to transparency, accountability and responsible management practices.
“This Five Golden Arrow Award is a testament to the collective efforts of everyone at SM Prime. It reflects the company’s strong commitment to nurturing a culture of good governance built on integrity, fairness, accountability and transparency,” said SM Prime Independent Director J. Carlitos G. Cruz.
He added that, “With the revised ASEAN Corporate Governance Scorecard placing stronger emphasis on sustainability, SM Prime has demonstrated its dedication to promoting social inclusion, environmental stewardship and economic advancement, ensuring sustainable and resilient growth for the communities it serves.”
The ASEAN Corporate Governance Scorecard (ACGS) assesses publicly listed companies based on shareholder rights, sustainability and resilience, stakeholder relations, transparency through timely disclosures, and the effectiveness of the Board in guiding corporate strategy.
A Golden Arrow is awarded to companies that achieve a minimum score of 75 points in the ACGS assessment, signifying strong adherence to the Philippine Code of Corporate Governance and alignment with globally recognized best practices. Companies are rated across five levels of governance performance.
SM Prime continues to strengthen its governance framework as it expands its integrated property developments, fostering inclusive economic activity and community growth across the country.

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SM Prime Holdings Inc. SM Offices Alexis Ortiga Golden Arrow Awards Institute of Corporate Directors
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