The legacy of Henry Sy, the Filipino tycoon who transformed a modest shoe store into a sprawling business empire, now extends to environmental stewardship, disaster resilience, and community transformation.
His heirs, leading the SM Group, are reshaping a conglomerate that spans shopping malls, property developments, banking and financial services, mining, gaming and leisure, hospitality, and logistics with a commitment to sustainability and resilience. This commitment promises to redefine their impact on the Philippines for generations to come.
Jessica Bianca ‘Jica’ T. Sy, Lead Executive for Design, Innovation, and Strategy at SM Prime Holdings, Inc. and SM Development Corp., painted a compelling vision of a sustainable future for the conglomerate her grandfather built at a recent forum hosted by the Philippine Institute of Certified Public Accountants.
“At SM, we believe that securing a better future for generations to come hinges on our commitment to innovative solutions and projects that embody sustainability principles. Sustainable investments play a crucial role in this endeavor,” said Sy.
The SM Group’s current trajectory is nothing short of transformative. It aligns with the United Nations’ Sustainable Development Goals, with investment decisions evaluated through Environmental, Social, and Governance criteria. The group’s environmental efforts are as bold as they are impactful.
The SM Group sources a quarter of its electricity from renewable sources, significantly reducing its carbon footprint. Last year, the group recycled 14.2 million cubic meters of water and managed 165.7 million tons of waste, with a substantial portion being properly disposed of, recycled, or composted.
SM Prime Holdings, the property arm of the group, mobilized 17,000 volunteers for the International Coastal Clean-up 2023, removing over 100,000 kilos of trash from 15 malls nationwide.
One of the group’s most striking initiatives is the preservation of marine biodiversity at Hamilo Coast, their premier resort development. Three of the 13 coves—Santelmo, Etayo, and Pico De Loro—have been declared marine protected areas within the Coral Triangle, a region known for its extraordinary marine diversity. This move not only protects vital marine ecosystems but also underscores the group’s dedication to safeguarding the environment.
The SM Group has also integrated a focus on resiliency into its ESG framework, designated as ESG+R. These principles are incorporated into project design and development to prepare for the unexpected while mitigating climate risks.
“While ESG principles are well-known, ‘R’ stands for resiliency, guiding our investments to address climate risks and enhance disaster preparedness,” said Sy. She cited SM City Marikina as a prime example of resilience. Elevated 20 meters above standard regulations and supported by 246 stilts, the mall withstood severe flooding from the Marikina River during Tropical Storm Ondoy in 2009 and recent heavy rains from the Northeast Monsoon stoked by Typhoon Carina.
Another example is SMDC’s Vine Residences, a residential development in Novaliches elevated three meters above ground to combat flooding while preserving local vegetation. SMDC has also achieved 50 percent renewable energy usage and installed 12.67 megawatts of solar panels in homes, reflecting the group’s commitment to sustainable living.
As the SM Group continues to expand, integrating environmental stewardship, disaster resilience, and community building is more than a strategic advantage—it is a profound commitment to shaping a sustainable and resilient future.
“Community building is central to our values, guiding all our projects towards a resilient future,” Sy asserts.
