MANILA – SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, was recognized at the recent Steward Leadership 25 (SL25) gathering. The event honors organizations chosen across the Asia-Pacific and Middle East for “demonstrating resolute action to drive profitable growth by addressing the social and environmental challenges that threaten humanity.”
SM Prime’s operations are directly and indirectly affected by climate-related challenges, which is why the themes of climate health, resilient design, and disaster risk reduction have played pivotal roles in construction and design activities over the past decade.
Purposeful steward leadership
“Having resilience as an anchor in property design not only maintains our high standards but also strengthens our value to the nation, enabling SM Prime to work with greater urgency, grow more inclusively, and engage communities with more empathy,” said Jeffrey C. Lim, President of SM Prime Holdings, Inc.
The careful and responsible management of resources is embedded in the company’s four-pillar sustainability framework: Economy, People, Environment, and Community. “Disaster resilience, social inclusion, and the prudent use of natural resources are integral to SM Prime’s business strategy,” said Lim.
At least ten percent of each property’s capital expenditure is allocated to sustainable and resilient design. It includes science-based solutions to combat the effects of natural disasters on the property, thereby saving lives and livelihoods.
The Stewardship Asia Centre (SAC), INSEAD Hoffmann Global Institute for Business and Society, WTW, and The Straits Times, unveiled 25 projects that made a significant positive impact on stakeholders, society, future generations, and the environment, during the Steward Leadership Summit at Shangri-La Singapore on November 21, 2023.
A legacy of service
“We never ventured far away from my grandfather’s values. He believed that business must be a force for good. We faithfully uphold this in all aspects of our business,” said Jessica Sy, Assistant Vice-President and Project Director of SMDC.
Representing SM Prime, she shares the history of the business during an interview with summit organizers, starting with her grandfather and founder of SM, Henry Sy, and cited the project rehabilitation experiences of her uncle, Hans Sy. “His understanding of crisis leadership was integral,” she said of her uncle, who played a critical role in ARISE-Philippines, a local network of ARISE Global, the Private Sector Alliance for Disaster Resilient Societies.
“Sustainability is a journey that requires stewardship from the top and needs to be incorporated into business strategy so that companies can grow well by doing good. It is reassuring to see the SL25 list consisting of a wide range of companies across different industries from social enterprises and SMEs to large corporations and MNCs,” said Dr Veerathai Santiprabhob, Chairman of the Executive Board, Mae Fah Luang Foundation, who unveiled the inaugural list at the Steward Leadership Summit.
“This year’s SL25 companies demonstrate their sustainability stewardship and commitments through their business practice and impactful projects,” said Dr Santiprabhob, a member of the SL25 judging committee.
SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.