SM accelerates efforts on climate action
What: SM Investments Corporation sealed its commitment as a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) in a strong bid to ensure its businesses meet global sustainability targets.
Why it is important: SM has consistently taken the agenda of climate change as an integral part of its business strategy.
TCFD is a globally recognized set of recommendations by the Financial Stability Board and is one of the frameworks recommended by the Securities and Exchange Commission of the Philippines on Environmental, Social and Corporate Governance (ESG) reporting. Joining more than 2,300 supporters in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures, the adoption of these recommendations helps for more effective climate-related disclosures.
SM has consistently taken the agenda of climate change as an integral part of its business strategy and how this creates lasting value for all its stakeholders, identifying UN Sustainable Development Goal (SDG) 13, Climate Action as one of its focus SDGs. Its Climate Action Strategy advances two priorities that go hand-in-hand: resilience to equip its stakeholders and host communities for climate emergencies and sustainability to help mitigate the climate crisis.
Through SM’s leadership role in UN ARISE, the Private Sector Alliance for Disaster Resilient Societies, it calls for a collective effort to incorporate disaster resilience as a core strategy of its business. Leading by example, it allocates 10% of its capital expenditures to disaster resiliency and sustainability in the design of its malls and integrated lifestyle cities.