SM Prime Holdings Inc. said Friday it recognizes the importance of transparency when it comes to climate-related risks and opportunities.
“Apart from investors’ emphasis in incorporating climate risk disclosures in their investing criteria, these also drive our business to adopt more sustainability initiatives related to climate change such as renewable energy, and champion promoting disaster resilience in the country. We support the TCFD in empowering stakeholders to make better decisions by promoting climate-related financial disclosures,” said SM Prime president Jeffrey Lim.
SM Prime targets to increase its demand for electricity sources from renewables by more than 50 percent across all business segments by end of 2022 in support of the Department of Energy’s goal of moving the country’s renewable energy supply component up to 35% by the end of the decade.
The company said in terms of disaster risk reduction and resilience, it was working hard to ensure its investments, people and communities across the country are disaster-resilient.