SM Investments Corporation leads the game with comprehensive sustainability reporting.
January 30, 2019
Written by Roumel Itum
Photo from SM Supermalls
During the first wave of industrial revolution, the steam engine ushered the then unprecedented manufacture of textiles. The great leap in the process of production saw the rise of factories. The second wave banked on the novel interest in science, and witnessed the expansion of electricity, petroleum, and steel. Meanwhile, the third heralded information as the primary good. In all these events, mankind had and continuously wreaking havoc on the entire planet. NASA’s Goddard Institute for Space Studies has been analyzing the changes in weather patterns. Studies reveal that the average global temperature on Earth has increased by less than 1 degree celsius since 1880, and a steady rise since the onset of the new millennium.
It is no wonder that even top financial institutions in the world, including ING and the World Bank, all see carbon management as a prerequisite for strong financial performance. To date, Bank of America has provided more than USD90B to finance low-carbon and sustainable activities.
In the Philippines, retail giant SM, a conglomerate established by the late Henry Sy, Sr., continues to set the trend in Filipino companies. Recently, SM Investments Corporation (SMIC) received the Gold Rank for sustainability reporting 2018 from Indonesia’s The National Center for Sustainability Reporting (NCSR). There were 56 organisations that participated from different countries in the region such as Indonesia, Malaysia, Bangladesh, Singapore, and the Philippines. The NCSR is an independent organization that disseminates sustainability reporting standards by the Global Reporting Initiative (GRI) and Assurance Standards by AccountAbility (AA1000). The group is committed to develop and implement sustainable development and practices in Indonesia and the entire region.