(05 September 2022, Pasay City, Philippines)SM Prime Holdings, Inc., one of Southeast Asia’s leading integrated property developers, and World Wild Fund (WWF) for Nature Philippines, a leading conservation organization, have partnered to adopt a stronger reporting framework to address the climate-related concerns in its operations.
This is a major collaboration between WWF and a company in the Philippines towards the development of a special program towards decarbonization.
The sustainability of SM Prime is the core of its corporate identity. SM Prime is at the fore in leading sustainable practices as well as creating records in pioneering programs to consciously protect the environment and strictly focus on the sustainability of its developments.
Under the partnership, SM Prime will adopt the Companies for a Better Planet Initiative (CBPI)WWF-Philippines’ flagship program that provides an actionable framework for organizations to act sustainably within the climate crisis paradigm.
“We are happy to partner with WWF Philippines in this sustainable journey. Focusing on sustainability within the Philippine context ensures that our strategies and projects are very material, efficient and more responsive to address local concerns about sustainability and adaptation. We need to become one with the global community to achieve this and we need to work with the world’s experts to get it right,” said SM Prime President Jeffrey C. Lim.
Climate change is one of the most pressing and defining issues in the world today. The Philippines is currently ranked third in the world in terms of vulnerability to climate change. In relation to its geographical location, it is more exposed to the fluctuating forces of climate change manifested through adverse weather systems and natural disasters.
These risks are fraught with complexity and uncertainty and organizations often fail to properly assess their implications. The CBPI program takes a holistic approach to this important issue, addressing these risks from a custom-built, science-based perspective.
By partnering with WWF, SM Prime will be able to promote and identify solutions to climate change that can be seen through responsible and transparent reporting.
The first phase of the CBPI includes measuring where SM Prime stands in its sustainability initiatives and setting a science-based target in line with the goal of the Paris Agreement to limit global warming to 1.5°C compared to pre-industrial levels. SM Prime’s 2021 Integrated Report, which covers the Integrated Reporting Framework, provides an overview of the Company’s value creation model – how it seeks to create value for its stakeholders by contributing to the national development through investments and interventions critical to the country’s socio-economic growth.
As a champion of climate action in the Philippines, SM Prime’s partnership with WWF adds another boost to transparent reporting by ensuring that greenhouse gas (GHG) calculations are accurate and using proper methods.
With the need to expand efforts to protect the environment, this partnership forms part of the whole group’s efforts under the SM Green Movement that aims to improve the quality of life in communities through sustainable development solutions a green planet, green living and a green culture. .
SM Prime’s partnership with WWF began in 2007 under Hamilo Coast, its leisure resort development in Nasugbu, Batangas, which includes closely monitoring the health and viability of the Hamilo Coast area including three of its bays designated as Marine Protected Areas (MPAs) – the Pico de Loro, Etayo and Santelmo. In recognition of its conservation efforts, Hamilo Coast was cited by WWF-Philippines as its longest-serving Sustainability Partner in 2020.
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About SM Prime
SM Prime Holdings Inc., one of the leading property developers in Southeast Asia, is committed to providing safe and sustainable spaces for its stakeholders. Its development strategy is anchored in the responsible use of resources. In the communities it serves, it can improve resource conservation, environmental protection, and disaster resiliency by implementing solutions for water, waste, and energy management.
SM Prime is a key player in the SM Green Movement that aims to improve the quality of life in communities through sustainable solutions to promote a green planet, green living and a green culture.
Learn more about SM Prime and the SM Green Movement.
