Sm Prime

SM Prime Holdings, Inc., headquartered in the Philippines and operating within the retail trade services sector (52), has outlined ambitious climate commitments and reported its carbon emissions.

Carbon Emissions Data:

For the reporting year 2024, SM Prime reported a total of approximately 4.05 billion kg CO2e. This figure comprises Scope 1 emissions of about 343.21 million kg CO2e, Scope 2 emissions of approximately 748.80 million kg CO2e, and Scope 3 emissions totalling around 2.96 billion kg CO2e.

In 2023, the company's total emissions were approximately 1.64 billion kg CO2e, with Scope 1 at about 104.35 million kg CO2e, Scope 2 at approximately 674.64 million kg CO2e, and Scope 3 at around 864.80 million kg CO2e.

The year 2022 saw total emissions of approximately 1.45 billion kg CO2e, broken down into Scope 1 (about 95.23 million kg CO2e), Scope 2 (around 590.10 million kg CO2e), and Scope 3 (approximately 769.58 million kg CO2e).

For 2021, SM Prime reported total emissions of about 1.51 billion kg CO2e, with Scope 1 at approximately 177.77 million kg CO2e, Scope 2 at around 626.01 million kg CO2e, and Scope 3 at about 706.03 million kg CO2e.

In 2020, total emissions were approximately 1.00 billion kg CO2e, consisting of Scope 1 (about 15.69 million kg CO2e), Scope 2 (around 538.97 million kg CO2e), and Scope 3 (approximately 443.87 million kg CO2e).

Previously, in 2019, total emissions stood at approximately 1.41 billion kg CO2e, with Scope 1 at about 23.44 million kg CO2e, Scope 2 at around 622.02 million kg CO2e, and Scope 3 at approximately 762.91 million kg CO2e.

Climate Commitments and Reduction Targets:

SM Prime has established a long-term goal of achieving Net Zero by 2040.

For near-term reductions, the company has set ambitious targets: a 70% reduction in Scope 1 and 2 emissions, and a 50% reduction in Scope 3 Category 13 emissions by 2030, using 2019 as the baseline year. These targets represent an increase in ambition compared to its minimum alignment targets of 46.2% for Scope 1 and 2, and 27.5% for Scope 3 by the same year.

SM Prime's climate data is self-reported and not cascaded from a parent organisation.