SM Investments Corporation increased the share of renewable energy in its total electricity consumption to 31% in 2025 from 27% a year earlier, as the conglomerate accelerated clean energy adoption across its retail, property, banking and infrastructure businesses.

In an official release, the group said it sourced around 730 million kilowatt-hours of electricity from renewable sources during the year, helping avoid 370,644 metric tons of carbon emissions. SM Investments said the emissions reduction was equivalent to removing nearly 297,000 electric-powered passenger vehicles from the road for one year.

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

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

A major part of the group’s renewable energy strategy is being driven by Philippine Geothermal Production Company, which operates the Mak-Ban and Tiwi steam fields in Batangas, Laguna and Albay.

The company said the geothermal assets can supply steam capable of generating up to 400 megawatts of renewable power. PGPC is also developing six new geothermal sites in Luzon with a combined potential capacity of another 400 MW, positioning geothermal as a key long-term energy security resource for the country.

“Reliable and affordable energy is important not only for businesses but also for communities and the broader economy,” DyBuncio said.

“We believe renewable energy, particularly geothermal, can help strengthen long-term energy security while supporting economic growth.”

Within its property business, SM Prime Holdings, Inc. said it has installed more than 200,000 solar panels across 69 properties nationwide as part of its energy efficiency and decarbonization initiatives.

The group’s retail operations are also expanding renewable energy use. Alfamart recently installed solar panels at its Saraiya Distribution Center in Quezon province with a peak capacity of 120.28 kilowatt-peak.

Meanwhile, the conglomerate’s banking units continued to scale up sustainable financing. BDO Unibank, Inc. said it had funded PH P1.21 trillion worth of sustainable projects as of end-2025, including PHP 177 billion for 71 renewable energy developments.

China Banking Corporation separately provided PHP 72 billion in financing for projects related to energy access, renewable energy and energy efficiency in 2025.

What role should large conglomerates play in accelerating the Philippines’ renewable energy transition and long-term energy security?

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