SM PRIME Executive Committee Chairman Hans T. Sy said the government and private sector need to work together in boosting the country’s disaster resiliency and climate adaptation efforts.
“Resilience is not just a word, it is a way of life. It is a commitment to ensure that we act on our responsibility to care for others and that no one is left behind,” Mr. Sy said in a statement.
According to Mr. Sy, climate adaptation and resilience are vital to thriving amid damage and losses caused by climate change, adding that disaster risk reduction is one of the SM Prime’s core business strategies.
With this, he said that SM has allocated a “significant portion” of its capital expenditure to incorporate resiliency and sustainability in its infrastructure designs.
Mr. Sy, an engineer, said he remains passionate about constructing well-designed structures that are efficient, strong, and resilient.
Meanwhile, SM Prime said its mall unit SM Supermalls, is implementing initiatives to mitigate flood risks in their communities.
Liza B. Silerio, SM Supermalls head for corporate compliance and sustainability, said there are over 25 rainwater catchment basins across the company’s malls.
The rainwater reservoirs have a total capacity of 85,272 cubic meters, collecting floodwaters and protecting nearby communities.
“We’ve seen firsthand how our catchment basins have spared communities around our malls from severe flooding during typhoons like Carina. This validates our commitment to investing in sustainable and resilient infrastructure,” she said.
Ms. Silerio said SM malls under construction have facilities and structures that consider natural hazards to protect nearby communities.
On Wednesday, SM Prime shares retreated by 1.54% or 45 centavos to P28.80 per share. — Revin Mikhael D. Ochave