SM Investments Corp. (SMIC) and its property and banking units remained part of the FTSE4Good Index Series for its environmental, social and governance (ESG) practices.
In a statement Friday, the flagship company of the Sy family said it was once again included in the list for a second straight year, together with its other listed subsidiaries SM Prime Holdings, Inc. and BDO Unibank, Inc., after the index review in June this year.
FTSE4Good Index Series is managed by the London Stock Exchange unit FTSE Russell.
To be part of the index means the companies are demonstrating “strong ESG practices,” SMIC said. The index is used by global investors to assess responsible investment funds and other products, it added.
According to SMIC, its ESG scores have outperformed the subsector and industry average and rank above average of Philippine companies across environmental, social, and governance themes.
“We are honored by this recognition to be a part of the FTSE4Good Index Series for the second straight year. This reflects confidence in our holistic approach and integrated thinking to sustainability,” SMIC President and Chief Executive Officer Frederic C. DyBuncio said in the statement.
“We continue to drive significant progress in ESG initiatives across our portfolio to ensure business sustainability, support the national agenda and create stakeholder value,” he added. — R.M.D.Ochave
