SM PRIME Holdings, Inc. said its retail unit SM Supermalls is targeting net-zero greenhouse gas emissions by 2040 because it expands solar energy capability and pursues waste conversion initiatives to cut back landfill dependence.
During a media roundtable on Thursday, SM executives said the mall operator is scaling renewable energy adoption and resource-efficiency programs across its properties.
SM Prime plans to double its solar energy capability to 100 megawatt-peak (MWp) throughout the yr from 50 MWp previously, while targeting 90% solar coverage across its properties.
SM Supermalls Vice-President for Mall Operations Junias M. Eusebio said solar energy is predicted to enhance the corporate’s broader energy requirements.
“Not all solar energy can power the entire supply. But slightly, it complements the energy mixture of the grid plus the solar energy,” he said.
The corporate can be pursuing measures to cut back landfill dependence by converting waste materials resembling plastics into industrial fuel.
SM GUUN Environmental Co., Inc. President George T. Cheung said shrinking landfill capability in Metro Manila is pushing firms to explore alternative waste management solutions.
“If we are able to convert, then mainly that reduces the necessities from the landfill,” Mr. Cheung said. “Meaning now more product goes back to energy.”
Mr. Cheung also noted that the variety of lively landfills in Metro Manila has declined from 4 to at least one.
The corporate’s sustainability program is anchored in 4 areas: waste management, energy efficiency, disaster resilience, and water conservation.
SM Prime also reported a 30% reduction in reliance on third-party water suppliers through the usage of sewage treatment plants and rainwater collection systems, including facilities at SM Baguio.
SM Supermalls Vice-President for Corporate Compliance Liza B. Silerio said the corporate continues to adopt energy-efficient constructing materials and designs as a part of its sustainability initiatives.
“For energy-efficient materials that we use, these are all the time introduced by our consultants,” Ms. Silerio said. “The warmth index, all the pieces is being considered and computed.”
Shares in SM Prime fell 1.03% or 20 centavos to shut at P19.26 apiece on Thursday. — Juliana Chloe A. Gonzales