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SMC’s socio-environmental investments reach P5.6B

By: - Reporter / @daxinq
/ 05:03 AM March 11, 2019

San Miguel Corp.—the country’s biggest conglomerate— has so far spent P5.6 billion for its social and environmental advocacies nationwide, with more funds to be allocated in the coming years, the chair of its charitable arm said.

San Miguel Foundation chair Ferdinand Constantino said the group that spans beer brewing to big-ticket transportation infrastructure projects was set to further ramp up efforts to “address the country’s most pressing challenges.”

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“It has always been our mission to do good. It’s in our DNA,” he said in a statement. “Through our efforts, big and small, we hope to lead the charge in terms of how we give back to society and the environment.”

Last year, the bulk of the company’s resources for corporate social responsibility initiatives was focused on developing meaningful partnerships and socio-economic opportunities for various disadvantaged communities nationwide.

“We are gradually reworking our CSR strategy in ways that transcend the traditional thinking on corporate giving, expanding the reach of our programs and engaging our employees and other stakeholders so that more people can have a vessel to make a difference and participate in causes that are close to our hearts,” said Constantino, who is also the chief financial officer of the parent holding firm.

He added that SMC’s corporate giving had been catalyzing solutions to both societal and environmental challenges such as crime, unemployment, poverty, natural disasters, lack of infrastructure and basic services, water security, waste disposal, among others.

Through its San Miguel Foundation, the company spent P332 million to provide livelihood opportunities to more than 160 families of soldiers and policemen killed in action during the Marawi siege.

Assistance for disaster response and rebuilding as of 2018 has reached P1.3 billion while housing programs for the underprivileged totalled P1.1 billion to date.

Other initiatives of the foundation include granting of scholarships, providing medical needs of people in conflict areas through the construction of hospitals and donation of medical equipment.

The foundation donated P126 million worth of Rapiscan mobile X-ray units to the Bureau of Customs and 50 units of BMW motorcycles to the Philippine National Police.

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TAGS: Business, San Miguel Corp., socio-environmental investments
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