Embracing net zero: The Philippines’ urgent call to climate action

MANILA, Philippines — As we enter the typhoon season, recent extreme weather events have once again underscored the Philippines’ vulnerability to such conditions.

As the nation grapples with the potential aftermath, it is clear that being part of the global conversation on achieving net zero emissions is imperative. This typhoon has highlighted the urgency for the Philippines to be an active participant in the fight against climate change, not only to mitigate future impacts but to also contribute to global solutions.

The concept of net zero refers to balancing the amount of greenhouse gases emitted with an equivalent amount removed from the atmosphere. For the Philippines, a country frequently in the crosshairs of severe weather, achieving net zero is a crucial step towards enhancing climate resilience.

The recent typhoon has made it evident that the country cannot afford to be a bystander in the global efforts to combat climate change. Instead, it must be a proactive player, advocating for and implementing strategies that contribute to the global net zero target.

One of the key areas where the Philippines can make a significant impact is by leveraging its abundant natural resources to transition to renewable energy sources. By increasing investments in solar, wind, and hydroelectric power, the nation can reduce its reliance on fossil fuels, thereby lowering its carbon footprint.

This transition is crucial for achieving net zero and offers the added benefit of creating a more resilient energy infrastructure less susceptible to disruptions caused by extreme weather.

SM Prime Holdings Inc. recognizes the equal importance and urgency of both climate change adaptation and mitigation. As part of our strategy, we are investing 10% of our Capital Expenditure (CAPEX) in sustainability and disaster resilience design.

A significant initiative supporting this commitment is SM Prime’s pledge to achieve net zero emission by 2040. As the country’s leading integrated sustainable property developer, we have committed to the Science-Based Targets Initiative (SBTi), a recognized global standard for corporate decarbonization targets.

This makes us one of the few corporations in