Speaking at the MUFG NOW Manila forum, Timothy Daniels, SM Investments Corp. consultant and head of sustainability and investor relations, said the company's ability to achieve deeper greenhouse gas emission reductions is tied to the expansion of renewable energy, transmission infrastructure, and the power grid, as reported by BusinessWorld.
Daniels noted that while SM has its own decarbonization initiatives, the company's broader emission reduction targets are contingent on the country's power infrastructure improving. The reliance on the national grid means that even if SM sources renewable energy, the overall grid mix must also transition to cleaner sources to significantly cut scope 2 emissions.
SM has been investing in energy efficiency measures, on-site solar installations, and green building certifications to lower its carbon footprint. However, Daniels emphasized that without parallel progress in national renewable energy capacity and grid reliability, the company's long-term climate targets will remain constrained by external factors beyond its direct control.