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PASAY CITY, Philippines, March 10, 2023 /PRNewswire/ -- SM Investments Corporation (SM Investments) was recognized as among the Top Rated companies in its industry (Diversified Financial) globally, and also among Top Rated companies in the Asia Pacific, in a 2023 Top-Rated ESG Companies list by international ratings firm Morningstar Sustainalytics.
In February 2023, SM Investments received an ESG Risk Rating of 13.3 and was assessed by Morningstar Sustainalytics to be at Low Risk of experiencing material financial impacts from ESG factors.
The rating means SM Investments belongs to the strongly performing 6.7 percent of companies with the lowest ESG risk score within its defined peer group.
"We are honoured to be cited by Morningstar Sustainalytics which reflects our commitment and initiatives towards sustainability, particularly good governance and risk management. In this period of global uncertainty, it is important for us to affirm our investors' and stakeholders' confidence in the company as a stable, sustainable and responsible proxy for Philippine development and growth," SM Investments Corporation President and Chief Executive Officer Frederic C. DyBuncio said.
At SM, actions adopted to mitigate risks include investments in technology, continuous training for personnel, regular audits and implementation of policies across the organization. Moreover, the group's strong adherence to corporate governance, customer-focused innovation, financial prudence and attention to its sustainability strategies and progress, are vital to managing specific ESG factors.
Morningstar Sustainalytics is a leading global provider of ESG research, ratings and data.
Its ESG Risk Ratings measure a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. The ESG Risk Ratings cover more than 15,000 companies across 42 industries. ESG or Environmental, Social and Governance is a framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance criteria.
For nearly 30 years, Morningstar Sustainalytics has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world's leading asset managers and pension funds who incorporate ESG and corporate governance information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider sustainability in policies, practices, and capital projects.
About SM Investments Corporation
SM Investments Corporation 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.
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. For more about SM, visit http://www.sminvestments.com/
