SM Investments

SM Investments, a financial intermediation services provider based in the Philippines (PH), has reported significant progress in its climate commitments.

For the reporting year 2024, SM Investments disclosed Scope 1 emissions totalling approximately 442,000,000 kg CO2e, comprising mobile combustion of about 327,162,340 kg CO2e and stationary combustion of 102,229,100 kg CO2e. Scope 2 emissions, calculated on a location basis, were approximately 1,418,000,000 kg CO2e. Scope 3 emissions for 2024 reached approximately 735,710,710 kg CO2e, with notable contributions from downstream leased assets at about 540,529,530 kg CO2e and capital goods at approximately 182,410,710 kg CO2e. The total calculated emissions for 2024 are not provided.

In 2023, the company reported Scope 1 emissions of approximately 442,000,000 kg CO2e and Scope 2 emissions of about 1,418,000,000 kg CO2e. Scope 3 emissions amounted to approximately 735,710,710 kg CO2e.

Prior to this, for the reporting year 2023 (data collected in 2023), total emissions were approximately 2,595,000,000 kg CO2e, including Scope 1 emissions of about 415,200,000 kg CO2e, Scope 2 emissions of approximately 1,349,400,000 kg CO2e, and Scope 3 emissions of about 893,440,000 kg CO2e.

For the reporting year 2022 (data collected in 2022), total emissions were approximately 2,340,000,000 kg CO2e. This included Scope 1 emissions of around 444,600,000 kg CO2e, Scope 2 emissions of approximately 1,357,200,000 kg CO2e, and Scope 3 emissions of about 538,200,000 kg CO2e.

In 2016, SM Investments reported Scope 2 emissions of approximately 509,708,000 kg CO2e.

SM Investments has set a long-term target to achieve a cumulative greenhouse gas (GHG) reduction of up to 40% by 2040, using 2019 as the baseline year. This reduction goal applies to both Scope 1 and Scope 2 emissions and is to be achieved through energy efficiency measures and the adoption of renewable energy sources.