SMIC renewable energy share climbs to 31%

SM INVESTMENTS CORP. (SMIC) increased its renewable energy sourcing in 2025, with cleaner energy accounting for 31% of total electricity consumption, up from 27% a year earlier, as the conglomerate expanded renewable energy use across its operations.

“For us, investing in renewable energy is both a sustainability and business decision,” SMIC President and Chief Executive Officer Frederic C. DyBuncio said in a statement on Monday.

“It helps us manage long-term energy costs, improve operational efficiency, and build more resilient businesses to better serve our customers, tenants, communities, and other stakeholders,” he added.

The group sourced around 730 million kilowatt-hours of electricity from renewable energy sources in 2025.

According to SMIC, the increased use of renewable electricity reduced carbon emissions by 370,644 metric tons during the year, equivalent to removing about 296,954 electric-powered passenger vehicles from the road for one year.

“Reliable and affordable energy is important not only for businesses, but also for communities and the broader economy. We believe renewable energy, particularly geothermal, can help strengthen long-term energy security while supporting economic growth,” Mr. DyBuncio said.

The group’s renewable energy operations are led by Philippine Geothermal Production Company, which operates the Makiling-Banahaw (Mak-Ban) and Tiwi geothermal steam fields in Batangas, Laguna, and Albay.

The facilities have a combined generating capacity of up to 400 megawatts (MW), enough to supply around one million households annually.

SMIC said its geothermal subsidiary is developing six additional sites in Luzon with a combined potential capacity of up to 400 MW.

The conglomerate said sustainability and efficiency initiatives continue across its retail, property, banking, and portfolio investment businesses.

In the property segment, SM Prime Holdings, Inc. has installed more than 200,000 solar panels across 69 properties.

Retail subsidiary Alfamart also installed solar panels at its Saraiya Distribution Center in Quezon Province, with a peak capacity of 120.28 kilowatt-peak (kWp).

Meanwhile, the conglomerate’s banking units reported continued funding support for sustainability-related projects. BDO Unibank, Inc. financed P1.21 trillion worth of sustainable projects as of end-2025, including P177 billion allocated to 71 renewable energy developments.

China Banking Corp. provided P72 billion in financing for energy access, renewable energy, and energy efficiency projects in 2025. — Alexandria Grace C. Magno