Governing for Good Corporate Citizenship
SM Investments Corporation
Project Commitment to Sustainable Development Goals (SDGs)
INTRODUCTION
SM’s retail operations are the country’s largest and most diversified with its food, non-food, and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the 6th largest bank.SM Investments recognizes the essential role of good corporate governance practices in the long-term growth, sustainability, and success of the company. As such, the company continuously develops its corporate governance culture to keep pace with the regional and global best practices.
FRAMEWORK AND STRATEGY
SMIC’s Board of Directors remains fully committed to the principles of good corporate governance and ensures that the long-term financial success of the business is built on accountability, transparency, integrity, and fairness. These are the fundamental pillars upon which the company is built and renowned for.SMIC’s Board of Directors are highly competent, highly qualified with varied expertise, and diverse in experience. The Board’s composition comprises 3 Independent Directors (38%), 3 Non-Executive Directors, and 2 Executive Directors. Meanwhile, its gender composition comprises 2 Female Directors and 6 Male Directors.
The company adheres to a board diversity policy that ensures a diverse composition of the Board of Directors which assists in advancing SMIC’s strategic objectives. Various committees are formed to help and maximize the functions of the Board. These are the Executive Committee, Related Party Transactions Committee, Corporate Governance Committee, Audit Committee, Risk Management Committee, and Compensation Committee.
ACHIEVEMENT AND IMPACT
SMIC builds a network of local economies to facilitate access to better standards of living, and it partners with its customers in achieving their aspirations by creating inclusive and innovative products and services. Moreover, SMIC creates diverse job opportunities nationwide and promotes a healthy and sustainable work environment.SMIC also serves as the community partner and provides opportunities as well as assists the development of micro, small and medium enterprises (MSMEs) to expand their reach. In addition, SMIC works together with local and global development partners on practical solutions for sustainable development, and the company cultivates long-term partnerships with local governments for national development.
Furthermore, SMIC helps improve the well-being of its communities by providing access to basic social services and building community resilience through investments in disaster risk reduction and response programs. Additionally, SMIC practices responsible investments anchored on sustainability and good governance to deliver sustainable returns for its shareholders and long-term value for all its stakeholders.
FUTURE DIRECTION
SMIC has identified focus Sustainable Development Goals (SDGs) where the company can create the greatest impact among all its businesses and foundations. These include “SDG 3: Good Health and Well-Being” and “SDG 4: Quality Education” in which SMIC creates positive community impact; “SDG 8: Decent Work and Economic Growth” in which SMIC creates inclusive socioeconomic opportunities; “SDG 11: Sustainable Cities and Communities” in which SMIC facilitates development; “SDG 13: Climate Action” in which SMIC promotes environmental responsibility; and “SDG 17: Partnership for the Goals” in which SMIC advocates sustainable growth.
SM Investments Corporation (SMIC) is a leading Philippine company that
is invested in market-leading businesses in retail, banking, and property.
It also invests in ventures that capture high growth opportunities in the
emerging Philippine economy.
SMIC was listed on the Philippine Stock Exchange (PSE) in 2005 (PSE: SM). Its assets include blue-chip listed firms SM Prime Holdings, BDO Unibank, and China Banking Corporation.
SMIC was listed on the Philippine Stock Exchange (PSE) in 2005 (PSE: SM). Its assets include blue-chip listed firms SM Prime Holdings, BDO Unibank, and China Banking Corporation.
