SM Group strengthens business resilience in face of climate threats

SM INVESTMENTS CORP. (SMIC), the country’s largest conglomerate, is planning to ramp up investments to bolster the resilience of its businesses as climate-related risks continue to rise.

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“Some people view climate change as maybe an additional expense but for the group, we look at it more differently... It’s really not just the returns on profit. We look at it as an overall return on the entire ecosystem of the SM group,” SMIC President and Chief Executive Officer Frederic C. DyBuncio told BusinessWorld Editor-in-Chief Cathy Rose A. Garcia during an episode of BusinessWorld One-on-One online interview series.

Established in 1960, SMIC’s businesses span across various segments, including property, retail, banking and portfolio investments.

Following the lead of its late founder Henry Sy, Sr., the conglomerate is putting sustainability at the forefront of its businesses.

“Sustainability is something which is very dear to our hearts. It’s something our founder, Henry Sy, Sr. has started... Anything that we do to spend in terms of sustainability is something which we look at not as an expense, but it’s something which will help the (SM) Group move forward in a much faster clip,” Mr. DyBuncio said.

“We spend today to help Filipinos be able to access better banking, better modern retail... And anything that we spend on climate change and sustainability is really something for us that will plant the seeds for the future,” Mr. DyBuncio said.