SIMON SUSTAINABILITY REPORT 2022
GREEN RETAILER COLLABORATION The buildings sector is responsible for a staggering 40% of global carbon emissions, from both construction and operation. Decarbonizing this sector is vital to meet the targets outlined in the Paris Agreement and the United Nations Sustainable Development Goals. At Simon, the carbon footprint of our shopping centers heavily depends on the activities of our tenants, with approximately 83% of our greenhouse gas emissions associated with their operations. To achieve our goal of reducing Scope 3 carbon emissions, we have committed to a 20.9% reduction by 2035 as part of the Science Based Targets initiative (SBTi). To achieve this goal, Simon launched a green retailer collaboration program in 2021. Both Simon and our retailers have ambitious environmental programs and goals, but there is a need for structured collaboration between landlord and tenants. By actively engaging and collaborating with our tenants on sustainability projects of mutual interest, we can streamline our processes and achieve better financial and environmental results at scale. This collaboration will not only reduce our carbon footprint but also elevate Simon’s reputation as a sustainability leader in the industry and the retailers in their respective sectors. Working together, we can make significant progress towards a more sustainable future. Simon introduced the Go Green Retailer of the Month initiative at Roosevelt Field, ® Garden City, NY, in 2022 to encourage our tenants to reduce their environmental impact. J.Crew has been awarded the first-ever Go Green Retailer of the Month award for its exceptional efforts in sustainability. The J.Crew team has made great strides in recycling the most single-use plastics in 2022. J.Crew has an active program in place to lower its greenhouse gas emissions through its recycling programs, the use of sustainably sourced and organic materials, as well as incorporating recycled and renewable materials in the company’s products. We applaud J.Crew’s commitment to environmental stewardship and hope that its efforts inspire other tenants to join us in our sustainability journey.
STRATEGY FRAMEWORK ‘GREEN RETAILER COLLABORATION’
EDUCATE EDUCATE AND SHARE INFORMATION
COLLABORATE WORK TOGETHER ON EVENTS AND SET COMBINED TARGETS
ACT TAKE ACTION AND IMPLEMENT BEST PRACTICES
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CREATING SUSTAINABLE CENTERS
COMMUNITIES
CUSTOMERS
ENVIRONMENT
EMPLOYEES
APPENDIX
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