ROBINSONS LAND Corp. (RLC) will continue to ramp up its capital expenditures (capex) on sustainability, its finance chief said.
“Definitely [we will increase our capex] on an annual basis. In terms of sustainability, we’ve grown two fold. We started sustainability [efforts] in 2015. We started investing in solar panels,” RLC Chief Financial, Risk and Compliance Officer Kerwin Max S. Tan said in a forum in Makati City on Wednesday.
Mr. Tan emphasized the need to take into account the impact of climate change.
“More than compliance to Securities and Exchange Commission (SEC) requirements or government regulations on sustainability, each one of us has to look at our environment as a whole,” he said.
“As the CFO of the company, I have to look at protecting the company assets and if you look at what’s happening quite recently, storms are getting stronger. You have to look at what we can do to minimize the impact of climate change and we have to look at sustainability efforts to sustain the longevity of our properties,” he added.
Apart from protecting assets from climate risks, Mr. Tan also said that there is a need to protect people.
“We have employees all across the nation. Our stakeholders [and] suppliers [say] they are not able to perform their duties because of calamities. We have to protect our assets, physical, people, suppliers and everyone,” he added.
RLC said it ensures that its buildings are LEED-certified, referring to Leadership in Energy and Environmental Design.
In its 2022 sustainability report, the firm said it conducted several energy-saving projects to “efficiently manage the consumption of our energy resources.”
RLC malls also have rainwater collection systems that make rainwater usable, and treatment and recycling facilities for repurposing wastewater.
Mr. Tan said that the government could also provide more incentives for shifting to sustainable options.
“For example, if we purchase renewable products or equipment, maybe we could be value-added tax (VAT) exempt from these purchases,” he said.
On Wednesday, shares in RLC fell by 0.82% or 12 centavos to P14.50 apiece. — Luisa Maria Jacinta C. Jocson