SMC sets 2050 net zero emission target

Metro Manila (CNN Philippines, July 14) — Diversified conglomerate San Miguel Corporation (SMC) has joined a growing list of listed companies that are charting a roadmap to reach net zero emissions by 2050.

In his speech during the company’s annual stockholders’ meeting on Tuesday, SMC President and Chief Executive Officer Ramon Ang told shareholders that San Miguel has “set an ambitious sustainability goal to become better socially, environmentally, and as a business.”

Apart from its food and beverage businesses, San Miguel is an infrastructure giant with stakes in toll operations, gas and power plants.

Ang said these businesses are doubling down on writing a “comprehensive roadmap” to meet their sustainability goals.

On top of the 2050 net zero plan, the company has set the following targets: lift at least 15 million people out of poverty by 2030, adopt a circular economy approach, and build a fully sustainable supply chain by 2040.

Listed firms like Ayala’s AC Energy, Aboitiz Power, and Lopez’s Energy Development Corp. also earlier announced cutting their carbon footprint and are charting their net zero roadmaps.

“We have also set an ambitious sustainability goal to help us become better socially, environmentally, and as a business," Ang said. "This includes uplifting the lives of at least 15 million people by 2030."

He added it also includes "adopting a circular economy approach and building a fully sustainable supply chain by 2040" and "achieving net zero emission by 2050."

Under a circular economy approach, materials and products are reduced, reused, and recycled to lessen waste and make production more efficient, sustainable and environment-friendly.