SM Prime Levels Up to Carbon Neutrality: Powering a Sustainable Future for Malls Across Asia

Climate Action Is Live Now

With COP30 (Conference of the Parties) happening in Belem, Brazil this November, the global spotlight is shining on climate solutions. For SM Prime Holdings, Inc., this moment matters. The journey to Net Zero by 2040 isn't just a goal anymore. It's become a core strategy that powers everything SM Prime does across its entire portfolio. This commitment drives strengthened partnerships, sound implementations, and collective resilience across the entire organization.

Powering Up: Strategic Energy Partnerships

Three factors matter when it comes to energy: security, affordability, and sustainability. Together, these make up what experts call the "energy trilemma." SM Prime knows this matters for future property development and building resilient urban communities.

SM Prime's approach is smart. They use a comprehensive and diversified energy mix. This strategy benefits renewable energy producers, transforms the entire industry, and reduces dependence on fossil fuels. The result: cleaner energy flowing through every mall in the network.

Solar Power at Scale: The Numbers

SM Supermalls has already achieved more than 50 percent renewable energy usage across its entire mall network. How? By leveraging partnerships with leading renewable energy players and direct procurement of clean energy.

The numbers are impressive:

- 2022: Partnership activated with Aboitiz Renewables, Inc. to expand clean energy capacity

- 2024: Partnership expanded with TotalEnergies to accelerate renewable energy transition

- 2025: Citicore Renewable Energy Corporation added to the energy ecosystem

Each partnership adds solar rooftop capacity to SM Supermalls, helping meet growing renewable energy demands through on-site generation.

One example: The 2MWp rooftop solar photovoltaic system at MOA Square (developed with TotalEnergies) generates approximately 3,000 MWh of clean energy annually. That translates to reducing about 1,430 tons of CO2 emissions every year. That's the kind of impact that matters.

Building Resilient Communities

Here's the bigger picture: renewable energy isn't just about malls anymore. It's about building resilient communities and creating climate-smart urban centers. The shift toward energy independence confirms that renewables are a strategic asset, especially as they become more affordable and community-focused.

For SM Prime, this commitment to sustainable energy drives positive change and contributes to broader climate mitigation and adaptation strategies. It directly supports the Philippines' national framework for achieving emission reduction targets.

Energy Independence for Everyone

SM Prime's mission goes beyond corporate responsibility. Through the SM Green Movement, the company is re-energizing neighborhoods to address climate challenges while offering more options for energy and fuel efficiency. The goal is clear: improve quality of life while reducing environmental impact.

SM Supermalls continues to scale its renewable energy usage across its nationwide portfolio. By expanding solar rooftop capacity, SM creates cleaner, more energy-efficient, and more resilient malls for surrounding communities.

Why This Matters: A Safer Future

Steven Tan, President of SM Supermalls, shared his perspective on the company's energy journey:

"We started our energy efficiency programs in the 90s. This lets us enjoy our mall spaces today because we maximize our energy use, lower operational costs, and hopefully reduce our emissions. We still have a long way to go. But we are making renewable energy accessible at scale to our malls. Our goal isn't just to create decarbonization value for the communities we serve. We want to provide flexible, adaptive, and sustainable mall experiences. Most importantly: a safer future for everyone."

About SM Green Movement:

SM Prime Holdings, Inc. is one of Southeast Asia's largest integrated property developers. The company creates sustainable, innovative, and inclusive spaces across the Philippines. SM Prime develops malls, residential spaces, office complexes, hotels, and leisure properties that support community growth.

Through the SM Green Movement, SM Prime champions sustainability by focusing on waste management, water stewardship, and energy efficiency. The movement empowers individuals, families, and communities to participate in meaningful actions that create lasting positive change for future generations.