SM Investments Corp. (SMIC), the flagship of the SM Group, is on track to reduce its greenhouse gas emissions by 40 percent by 2040 through continued investments in renewable energy, energy efficiency, and other sustainability initiatives across its businesses.

Speaking at the recent MUFG NOW Manila forum, “Pathways to a Sustainable Future: Opportunities and Challenges,” Timothy Daniels, Consultant and Head of Sustainability and Investor Relations at SM Investments, said the target builds on years of group-wide efficiency and renewable energy efforts.

“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 added, “For us, sustainability helps reduce costs, improve reliability, and make our operations more resilient. It's simply part of how we run the business.”

Across the group, SM has installed more than 200,000 solar panels on its properties, helping generate electricity and reduce dependence on grid power.

Its mining subsidiary, Carmen Copper Corporation, operates a three-hectare floating solar facility at the Malubog Reservoir in Cebu. The facility's 8,540 solar panels generate 4.99 megawatts (MW) of renewable energy—enough to potentially supply about 10 percent of the mine's power needs.

SM has also expanded its renewable energy investments through the Philippine Geothermal Production Co. (PGPC), which operates geothermal steam fields in South Luzon.

Beyond its internal operations, the group supports the country's broader energy transition through BDO Unibank. To date, BDO has deployed approximately ₱1.2 trillion in sustainable financing, including support for 71 renewable energy projects with a combined capacity of 6,165 MW.

However, Daniels noted that achieving the largest emissions reductions will depend on a broader systemic shift to renewable energy. While individual companies can improve efficiency, install solar panels, and purchase renewable power, overall progress ultimately relies on national renewable energy availability, transmission infrastructure, and grid development. (James A. Loyola)