SM Prime and WWF Philippines launch cooperation for ethical reporting on countermeasures to climate change.
SM Prime Holdings, Inc., one of Southeast Asia’s leading integrated property developers, and the World Wildlife Fund (WWF), the Philippines’ leading conservation organization, have announced a more robust reporting framework to address the climate crisis. partnered to introduce work.
This is a key partnership between WWF and Filipino companies to develop customized decarbonization programs.
At SM Prime, sustainability is at the heart of our corporate identity. SM Prime is a leader in developing sustainable practices, setting records with pioneering programs, consciously protecting the environment and focusing on resilience in development.
As part of the agreement, SM Prime will adopt the Corporates for a Better Planet Initiative (CBPI), the flagship initiative of WWF-Philippines that gives businesses an operational framework for operating responsibly in the context of the climate crisis.
“We are delighted to work with WWF Philippines on this sustainable journey. Focusing sustainability within the context of the Philippines ensures that our strategies and projects are highly material, efficient and more responsive in addressing local concerns surrounding resilience and adaptation. We need to be one with the worldwide community to achieve this and we need to work with global experts to get this right,” SM Prime President Jeffrey C. Lim said.
One of the most important and defining global challenges of our time is climate change. When it comes to sensitivity to climate change, the Philippines is now ranked third internationally. Due to its geographic location, it is particularly vulnerable to changing climatic intensities that express as unpredictably bad weather and other natural disasters.
Organizations frequently neglect to adequately evaluate the implications of these risks because they are riddled with complexity and uncertainty. The CBPI program approaches this crucial topic holistically, tackling these hazards from a specifically designed, science-based perspective.
Working together with the WWF will enable SM Prime to improve and choose climate change solutions that will be represented in accountable and transparent reporting.
The first phase of the CBPI is to assess where SM Prime stands on sustainability initiatives and to set science-based goals in line with the Paris Agreement’s goal of limiting global warming. at 1.5°C above pre-industrial levels of global warming. SM Prime released its first Integration Report in 2021 as part of the Integrated Reporting Framework outlining our value creation model – how we seek to create value for our stakeholders by contribute to the progress of the nation through investments and interventions that are important to the socio-economic well-being of the country. economic growth.
As climate action champion in the Philippines, our partnership with WWF will add another boost to reporting transparency by ensuring climate calculations greenhouse (GHG) is accurate and uses appropriate methodologies.
With the need to expand efforts to protect the environment, this partnership is part of a group effort within the SM Green Movement to improve the quality of life of the community through sustainable solutions. aims to promote a green planet, a green life and a green culture. .
SM Prime’s partnership with WWF began in 2007 as part of Hamilo Coast, its entertainment complex in Nasugbu, Batangas. WWF is closely monitoring the health and viability of the Hamilo Coast region, including its three coves designated as Marine Protected Areas (MPA) – Pico de Loro, Etayo and Santelmo.
In recognition of its conservation efforts, the Hamilo Coast was named the longest serving sustainability partner by WWF-Philippines in 2020.