SM Supermalls operator Shopping Center Management Corp., a unit of SM Prime Holdings Inc., is pursuing carbon trading to support its environment-friendly initiatives.

In an interview, SCMC president Annie S. Garcia said that the 35 SM Supermalls combined had so far saved some 67 million kilowatt-hours of energy since 2002. This was achieved through the use of sophisticated air-conditioning and building maintenance system called eBAS.

Garcia said that “hundreds of millions of pesos” had been invested in SM Supermalls’ drive to go green. About P300 million was invested in eBAS alone.

With its power efficiency system, the company can realize additional earnings from the power savings’ equivalent credits for carbon emission reduction. These credits, commonly known as carbon credits, can be sold to international companies seeking to offset the environmental impact of their energy-guzzling operations.

Garcia said that SCMC prepared in 2007-2008 a study on how the SM Supermalls could reduce its carbon footprint, or the amount of energy used up by its operations. The study also found carbon trading to be a viable way for the company to support more “green” initiatives, Garcia said.

The company plans to start working on the necessary accreditation for it to be able to go into carbon trading. She said there is no set timeline yet for this but it “could be next year.”

SCMC also had initial talks with Endesa Carbono, a Spanish company engaged in carbon trading and consultancy. Endesa Carbono is majority-owned by Spanish energy company Endesa and shareholders of AHL Carbon, an American firm that identifies projects fit for carbon credits.

“The potential earnings from carbon credits of the SM malls will be reinvested to sustain green initiatives,” Garcia said.

In the meantime, about P50 million has been allocated for environment promotion activities of SM Supermalls.