For a long time, companies talked about sustainability as something separate from the business itself.

That is not how SM sees it.

Speaking at a recent MUFG NOW Manila forum, Timothy Daniels, consultant and head of sustainability and investor relations at SM Investments Corporation (SMIC), said many sustainability projects succeed for a simple reason: they make business sense.

“SM is past the point of thinking whether investing in sustainable solutions is merely part of corporate social responsibility,” Daniels said. “For us, these are sensible business solutions that reduce costs, improve reliability, and help de-risk the future.”

That thinking can be seen across the SM group.

More than 200,000 solar panels have been installed across SM properties. In Cebu, Carmen Copper Corporation operates a 4.99 megawatts floating solar facility that could potentially supply about 10 percent of the mine’s power requirements. SM has also expanded its renewable energy investments through Philippine Geothermal Production Company.

The group’s efforts extend beyond its own businesses. Through BDO Unibank, SM has helped finance renewable energy projects across the country. To date, BDO has deployed approximately P1.2 trillion in sustainable financing, including support for 71 renewable energy projects with a combined capacity of 6,165 MW.

Managing sustainability across SMIC, a group that includes retail, banking, property, mining and other businesses, is not straightforward. Different businesses face different challenges and opportunities.

“We are a diverse group so each business we are in have different sustainability challenges and different solutions,” Daniels said. “At the parent company it’s about making sure that we keep everybody grounded, that every business has a very robust implementation plan and is getting the support to do it.”

SM says it remains on track to meet its goal of reducing greenhouse gas emissions by 40 percent by 2040.

“We are on track with the 40 percent reduction goals we announced,” Daniels said. “And we keep looking for more ideas, like the floating solar panels that we put up which is the first of its kind in the Philippines.”

For Daniels, the point is not sustainability for its own sake.

“When you are doing sustainability well, you are actually making your business stronger and you’re investing in your future. A lot of sustainability initiatives will help you reduce cost, become a better company, become more efficient and reduce future risk.”