SIMON SUSTAINABILITY REPORT 2022
SUSTAINABLE ENERGY Simon is committed to powering its assets with sustainable energy. Our goal is to significantly increase the share of renewable energy in our global energy mix and double our rate of improvement in energy efficiency by 2030. To achieve this, we continuously optimize our energy efficiency and source electricity from cleaner energy sources. Currently, we have photovoltaic panels installed in 10 properties that generate on-site renewable energy. These panels have a combined installed capacity of 3.64 MW, which powers the common areas of these centers. In 2022, our on-site clean energy production reached 3,544 MWh. WATER MANAGEMENT Water management is a priority for Simon, with a 26% reduction already achieved against a 20% target between 2013 and 2025. To further improve responsible water use, a new reduction target has been set. Monthly analysis and benchmarking of water consumption data are key to our program, with a focus on restroom, irrigation, air-conditioning, and cleaning water usage. We invest in water-efficient equipment such as low-flow fixtures, aerators, automatic shutoffs, low-flow toilets, and waterless urinals for restrooms. We have made a consistent effort to identify opportunities for water efficiency and reuse throughout its portfolio. As a result of these efforts, the company successfully reduced water usage by 2% between 2021 and 2022, saving an impressive 66.51 mega gallons. We minimized the water use needed for landscaping by planting more drought-tolerant plant species, eliminating irrigation through xeriscaping, and by installing local drip-irrigation systems, efficient sprinkler heads, and smart irrigation control systems. Our updated EMS sets minimum requirements (e.g., WaterSense-labeled fixtures) for all replacements, new (re)developments, and refurbishments of all common areas. WASTE MANAGEMENT Simon is committed to reducing waste generated through its operations and development activities, with the aim of reducing its environmental footprint and lowering waste handling costs. This effort contributes to a lower carbon impact, which is a key element of our long-term target to reduce our Scope 3 emissions by 20.9% by 2035. To support this goal, Simon has implemented cardboard recycling programs at all properties and plastic film recycling programs at select centers across the portfolio. We also regularly assess the feasibility of single-stream recycling, which can help achieve higher recycling rates with less effort required from retailers for waste separation. Additionally, we have implemented a tenant education program that includes improved signage and regular reminders about proper recycling practices. ENVIRONMENTAL RESPONSIBILITY
To monitor progress and identify opportunities for improvement, Simon conducts an annual survey of waste and recycling data for all centers. Our teams ensure they have full and efficient access to waste stream data and report any issues that arise. This data analysis helps us identify data gaps and opportunities to optimize waste management and increase recycling rates at our properties. GREENDROP PARTNERSHIP REDUCES WASTE IN COMMUNITIES At Simon, we understand the importance of reducing waste and promoting sustainability not just in our centers but also in our communities. In 2022, we collaborated with GreenDrop to create a donation program that benefits the environment and local charities. Fully-staffed on-site facilities have been introduced at Arundel Mills, ® Smith Haven Mall, and Walt Whitman Shops for this purpose. By donating items such as clothing, bedding, toys, and electronics, we can give them a second chance in local thrift stores instead of sending them to landfills. This partnership has helped keep millions of reusable items out of waste streams and fund crucial programs in our community. We’re committed to continuing this partnership with GreenDrop and expanding our efforts to reduce waste in our communities. By working together, we can make a positive impact on our planet and support those in need in our local communities.
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ENVIRONMENT
CREATING SUSTAINABLE CENTERS
CUSTOMERS
COMMUNITIES
EMPLOYEES
APPENDIX
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