SM Investments Corp., one of the country’s leading conglomerates led by the Sy family, was confirmed as a part of the FTSE4Good Index Series for its strong environmental, social and governance practices.
SMIC said in a statement it was also included in the FTSE4Good Emerging Index ranked among constituents in more than 20 countries worldwide.
FTSE4Good is managed by FTSE Russell of the London Stock Exchange Group and is designed to identify companies that demonstrate strong ESG practices against globally recognized standards.
FTSE Russell, the global index leader that provides innovative benchmarking analytics and data solutions for investors worldwide, created the index in 2001.
The FTSE4Good Emerging indices measure the performance of companies in emerging markets that meet the recognized ESG inclusion standards used by the FTSE4Good Index Series.
“We are honored to be included in FTSE4Good. This affirms our commitment to sustainable operations and strong adherence to good corporate governance,” said SMIC president and chief executive Frederic DyBuncio.
“We remain focused on our key strategies to create shared value for all our stakeholders which includes the communities we serve,” said.
Investors use these indices when creating or assessing responsible investment funds and other products for transparent management and clearly-defined ESG criteria.
Each year, SMIC measures its ESG performance and discloses its sustainability report based on the widely-used reporting framework, Global Reporting Initiative.
SMIC has invested in market-leading businesses in retail, banking and property. It also also has investments in ventures that capture high-growth opportunities in the emerging Philippine economy.
SMCI delivered a net income growth of 26 percent in the first quarter to P10.7 billion from P8.5 billion in the same period last year on the strong performance of core banking, property and retail businesses.
First-quarter consolidated revenues rose 15 percent to P109 billion from P95 billion a year ago.
Banking accounted for 42 percent of the conglomerate’s consolidated net income, followed by property at 40 percent and retail at 18 percent.