A series of exhibits focusing on the sustainability and disaster resilience initiatives related to addressing climate change of SM Prime Holdings, Inc. (SM Prime) and the Department of Science and Technology (DOST) will be held in select SM malls across the Philippines. The joint initiative was launched last 24 February 2022 at the SM Mall of Asia.
Climate change is the biggest environmental problem the world is facing today, with drastic increases in global temperatures recorded in recent years. According to the 2020 Annual Climate Report by the United States National Oceanic and Atmospheric Administration, the combined land and ocean temperature has increased at an average rate of 0.8°C per decade since 1880. The average rate of increase, however, has been more than twice that rate since 1981, at 0.18°C.
Earth’s natural systems, in many ways, have been affected by this phenomenon. For instance, there is a strong scientific consensus supporting the idea that climate change causes typhoons to occur more frequently and contributes to stronger storms. For a country such as the Philippines, considered one of the most vulnerable in the world to the effects of extreme weather events, this is very alarming.
SM Prime knows the importance of sustainability and disaster resilience in mitigating the impact of climate change and other environmental problems on our planet. As a trusted integrated property developer and one of the biggest in Southeast Asia, SM Prime is committed to promoting these two advocacies in all its properties, and the exhibit is the latest to be implemented as part of this commitment.
Joining SM Prime are its numerous business units, each with its own sustainability and disaster resilience initiatives. These include SM Supermalls, SMDC Residences, the Commercial Property Group, engaged in the development and leasing of office spaces; Leisure Resorts (Tagaytay Highlands and Pico de Loro) and the Hotels and Convention Centers business unit, which develops and manages hotels and convention centers across the country.
“DOST and SM Prime have enjoyed a long-standing partnership in promoting sustainability and disaster resilience in the country. In recent years, working together with visionaries like Undersecretary Dr. Renato Solidum, we have made great strides in facilitating discussions and creating long-term solutions in line with these two advocacies, and we hope to continue building on these achievements toward a more sustainable and disaster-resilient Philippines,” according to SM Supermalls President Steven Tan.
Speaking about the exhibit, Tan cited the leadership of Hans Sy which has inspired the company to “always look at ways on how we can make it better for the people and for the planet.”
Sustainability and disaster resilience are at the core of SM Prime’s business. In line with this, the company continuously allocates 10% of its capital expenses in features in its properties supporting these two advocacies, from rain catchment facilities to renewable energy sources and everything in between.
Aside from this, the company also employs a multi-stakeholder approach to sustainability and disaster resilience, working together with partners in the public and private sectors, and one of these is the DOST.
“The DOST recognizes innovation as the building block in the country’s development. Our vision is to vigorously advance science and technology in achieving resilience. It is our commitment to develop and provide science and technology and innovation services that will influence our leaders to employ scientific and evidence-based decision-making, that will boost how our businesses operate and prevent further losses in our economy, that will improve the way Filipino communities adapt to risks, and lastly, innovations that will make our country a model of resilience and sustainability,” said to DOST Usec. and PHIVOLCS OIC Dr. Renato Solidum.
SM Prime, one of the leading integrated property developers in Southeast Asia, remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. Sustainability and Disaster Risk Reduction and Resilience form part of SM Prime’s core business strategies. It ensures that its risk-informed investments catalyze sustainable development and positive change in the communities where it operates.
Learn more about SM Prime’s Sustainability and Resilience here.