SM Prime pushes sustainable development

MANILA, Philippines — SM Prime Holdings Inc., the listed integrated property developer of the Sy family, is pushing for sustainable development amid the increasing effects of climate change.

SM Prime is pursuing the next horizon on integrated property development and building sustainable cities of the future as part of its steadfast commitment to disaster resiliency innovations.

SM Prime executive committee chairman Hans Sy said climate adaptation and resilience are keys to thriving despite damage and losses brought about by climate change.

To ensure the integration of climate adaptation and sustainability into its projects, SM allocates a significant portion of its capital expenditures to incorporate resiliency and sustainability in its infrastructure designs.

“Resilience is not just a word, it is a way of life. It is a commitment to ensure that we act on our responsibility to care for others and that no one is left behind,” Sy said.

Sy said the government and private sector must also work together in finding solutions for greater resiliency.

SM Prime is expanding partnerships with government and other stakeholders to grow more resilient communities.

As an engineer, Sy said he remains passionate about constructing well-designed structures that are not only efficient, but are strong and resilient.

Sy sits in the Philippine board of ARISE Private Sector Alliance for Disaster Resilient Societies of the United Nations and serves as co-chairman of the National Resilience Council, a private-public sector initiative which aims to strengthen resilience of local government units.

SM Prime’s SM Supermalls has been leading in climate adaption through effective mitigation of flood risks in the communities where its malls are located.

SM Supermalls has a network of more than 25 rainwater catchment basins strategically positioned in SM malls across the country. These reservoirs act as crucial buffers during heavy downpours, collecting and holding excess rainwater to prevent flooding in surrounding communities.

Located underneath the premises of catchment basin malls, the combined rainwater reservoirs have a total capacity of 85,272 cubic meters, collecting floodwaters and protecting nearby communities.

“We’ve seen firsthand how our catchment basins have spared communities around our malls from severe flooding during typhoons like Carina. This validates our commitment to investing in sustainable and resilient infrastructure,” SM Supermalls head for corporate compliance and sustainability Liza Silerio said.

Silerio assured that the SM malls have facilities and structures that take into account natural hazards, thus protecting communities around them.

She said SM Mall of Asia complex is designed with a sturdy seawall to protect the surrounding communities from potential storm surges or rising sea levels.

The property also uses specialized foundation systems to provide more robust protection against liquefaction and seismic events.

Meanwhile, the United Nations Office for Disaster Risk Reduction has recognized SM City Marikina for being a prepared facility during calamities.

Its proximity to the Marikina River and the area’s flood history necessitated the mall’s elevation onto 246 concrete stilts, allowing floodwater to enter and flow through the structure away from residential areas and avoid damage to the mall itself.

“SM Supermalls, together with its holding company SM Prime, remain committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people,” the company said.