SM Group's Commitment to Cutting Down Plastic Waste Efforts

SM Group's Bold Move Towards Plastic Waste Reduction

The SM Group is taking significant strides to address the pressing issue of plastic waste, establishing itself as a leader in corporate responsibility. This initiative is driven by SM Investments Corporation, which has initiated new groups dedicated to implementing change across various business segments. These groups regularly gather to share strategies and ensure that each department integrates plastic reduction into their sustainability plans.

Support for Sustainability Legislation

This initiative aligns with the Extended Producer Responsibility (EPR) Act, which mandates that companies must manage their plastic packaging's lifecycle. The EPR Law holds organizations accountable for both sourcing and recycling plastic products, fostering an environment where sustainability is prioritized.

The Role of SM Markets

SM Markets, which encompasses the widely recognized SM Supermarket, SM Hypermarket, and Savemore brands, has pioneered efforts towards sustainable retailing. Since 2007, the brand has actively promoted the use of eco-bags instead of single-use plastics. In a testament to their impact, 2024 saw the sale of 19 million Green Bags, significantly reducing reliance on traditional plastic bags.

Innovations at Watsons Philippines

Meanwhile, Watsons Philippines, an affiliate of SM Retail, has made impressive progress with 81% of its stores now utilizing paper bags in place of single-use plastics. Additionally, Watsons has over 2,140 products in its Sustainable Choices range. This collection includes items categorized under Clean Beauty and Eco-Friendly Packaging, promoting a more responsible consumer culture.

Reducing Plastic at Goldilocks and 2GO Group

Goldilocks Bakeshop, part of the SM portfolio, has introduced changes in packaging designed to minimize plastic use. By cutting back on the sizes of ribbons used, Goldilocks has managed to eliminate around 7,000 kilograms of plastic annually. In tandem, 2GO Group, the logistics arm of the conglomerate, has transitioned its operations to utilize exclusively recyclable and biodegradable packaging materials, underscoring a commitment to eco-conscious logistics.

Plastic Waste Management by SM Prime Holdings

With extensive operations throughout the Philippines, SM Prime Holdings is dedicated to enhancing waste management practices within its properties. Equipped with Modern Recovery Facilities (MRFs) and waste segregation systems, SM Prime has implemented strategies to collect and manage plastic waste effectively, saving over 63,874 kilograms from landfill through designated drop-off points.

Community-driven Recycling Initiatives

The Trash-to-Cash (TTC) program remains a cornerstone of SM’s community initiatives. There, customers exchange recyclables like plastics and paper for cash. This program has facilitated 12 million kilograms of recyclables, equivalent to retaining around 204,000 trees or reducing significant carbon emissions.

Environmentally Friendly Practices in Hotels

SM Hotels and Conventions Corporation (SMHCC) took early action against single-use plastics, having phased them out back in 2018. The hotels moved towards using refillable and eco-friendly alternatives, drastically reducing their plastic footprint.

Timothy Daniels, Head of Investor Relations and Sustainability at SM Investments Corporation, states, "This commitment to reducing plastic waste reflects our dedication to sustainable practices and shared responsibility across all our businesses. Each step taken is part of a larger narrative of environmental stewardship and community engagement."

The issues surrounding plastic waste resonate globally, with the United Nations Environment Programme reporting millions of tons of plastic entering ecosystems each year. This emphasizes the urgency for corporations like SM to lead by example in combating plastic pollution.

About SM Investments Corporation

SM Investments Corporation stands as a major player in the Philippines, engaging in diverse sectors including retail, banking, and property development. The company boasts the largest retail network, comprising grocery stores and department stores, along with SM Prime Holdings, which is a frontrunner in integrated property development. Their banking ventures with BDO Unibank and China Banking Corporation signify a broad economic footprint, ensuring their pivotal role in the Philippine economy.

SM remains dedicated to making impactful changes in waste management and sustainability through innovative strategies that resonate with consumers and the environment.

Frequently Asked Questions

What are the main initiatives SM is implementing to reduce plastic waste?

SM is focusing on promoting eco-bags, transitioning to paper bags in retail, and utilizing recyclable packaging in logistics.

How does SM support the Extended Producer Responsibility Act?

SM integrates plastic reduction into its sustainability roadmap, ensuring accountability for plastic waste recovery.

What role do community programs like Trash-to-Cash play?

The Trash-to-Cash program incentivizes recycling by allowing customers to exchange recyclables for cash, highlighting the importance of sustainability.

How is SM Prime Holdings enhancing waste management?

SM Prime Holdings has set up Materials Recovery Facilities and waste segregation systems to efficiently handle plastic waste.

What’s the overall goal of SM's plastic reduction efforts?

SM aims to create a shared culture of responsibility to tackle plastic pollution while fostering a sustainable business environment.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

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