Forging a Decarbonized Future: SM Prime’s Race to Net Zero by 2040

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As the world counts down to the 30th Conference of the Parties (COP30) in Belem, Brazil, the call for lasting solutions to the planet's climate crisis has reached a critical crescendo. For SM Prime Holdings, Inc., this moment marks a critical turning point. Their commitment to reach Net Zero by 2040 is no longer just a unifying corporate force—it is the driving goal for strengthened implementation, sound partnerships, and collective resilience.

The challenge faced by businesses today is often referred to as the "energy trilemma": balancing security, affordability, and sustainability. This is especially crucial for the future of property development and urban resilience. SM Prime is answering this challenge with a comprehensive, diversified energy mix that is already transforming the industry and accelerating the transition away from fossil fuels.

The Power of Empowered Partnerships

SM Prime is making significant investments in emerging energy technologies and forging strategic partnerships with renewable energy leaders to rapidly expand its clean energy capacity.

SM Supermalls has already achieved more than 50% of renewable energy use across its portfolio. This impressive milestone was reached by:

Leveraging Key Partnerships: Activating strategic plans with Aboitiz Renewables, Inc. (ARI) starting in 2022.

Broadening the Footprint: Partnering with TotalEnergies in 2024 to further expand its renewable energy efforts.

Scaling On-Site Generation: Adding Citicore Renewable Energy Corporation in 2025 and steadily increasing its roster of solar rooftop suppliers to meet energy demands through on-site generation.

A shining example of this commitment is the 2MWp rooftop solar photovoltaic system at MOA Square (developed with TotalEnergies). This system generates approximately 3,000 MWh of clean energy annually, leading to an estimated reduction of 1,430 tons of CO2  emissions each year.

By scaling its solar rooftop capacity, SM is not only making its malls cleaner and more energy-efficient but also more resilient for surrounding communities. This commitment supports the country's national framework for achieving its own emission reduction targets.

Energy for the People and a Safer Future 💡

SM Prime views renewables as a strategic asset, especially as they become more affordable and community-serving, empowering businesses nationwide.

This commitment goes beyond mere operational efficiency; it is about building resilient communities and climate-smart urban centers toward energy independence. Through the SM Green Movement, SM seeks to re-energize neighborhoods to contribute to the climate solution and offer more options for energy and fuel efficiency, ultimately improving the quality of life and supporting a sustainable lifestyle.

A Long-Term Vision: "We started the journey with our energy efficiency programs in the 90s," said SM Supermalls President Steven Tan. "This lets us enjoy our mall spaces now because we maximize our energy use, lower operational costs, while hopefully, reducing our emissions".

The Ultimate Goal: Tan acknowledges there is "still a long way to go," but the effort is focused on making renewable energy accessible at scale across all malls. The motivation is clear: "not just to create decarbonization value for the communities we touch and work with – but to provide flexible, adaptive, and sustainable mall experiences. Most importantly, a safer future for all,” he affirmed.

Powered increasingly by clean sources, SM malls continue to serve as vibrant, welcoming community hubs that perfectly reflect SM Prime’s dedication to sustainable and resilient development.

About the SM Green Movement

The SM Green Movement champions sustainability by focusing on waste management, water stewardship, and energy efficiency for lasting impact. As one of the largest integrated property developers in Southeast Asia, SM Prime is guided by its vision of building a better future through malls, residences, offices, hotels, and leisure properties. The movement empowers everyone—individuals, families, and communities—to participate in simple acts that create shared prosperity for generations to come.

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