SIMON SUSTAINABILITY REPORT 2022
SCIENCE-BASED TARGETS In the past decade, we reduced our direct energy consumption by 31.27% and our carbon footprint by 65.05%. Our ongoing commitment to minimize our environmental impact has led us to fully endorse the Science Based Targets initiative (SBTi). This initiative, jointly developed by the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute, and the WWF, will guide our efforts to reduce absolute Scope 1 and 2 GHG emissions by 68% by 2035, measured against our 2019 baseline. As part of our commitment to the SBTi, we have also established an approved target to reduce absolute Scope 3 carbon emissions from our downstream leased assets by 20.9% by 2035. Meeting these targets will require us to engage with our tenants and encourage them to adopt science-based targets themselves. We will also work with them to invest in renewable energy and other efficiency measures to reduce their operational emissions.
ENERGY CONSUMPTION (MWh)
2035 TARGET EMISSIONS BY SCOPE
900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0
70,672
6,761
792,096
BASELINE EMISSIONS BY SCOPE 2019 - Scope 1 and Scope 2 2018 - Scope 3
2017
2018
2019
2020
2021
2022
Energy (MWh) 2017-2022
ABSOLUTE EMISSIONS FROM SCOPE 1 AND SCOPE 2 (METRIC TONS OF CO 2 e)
220,851
21,129
350,000 300,000 250,000 200,000 150,000 100,000 50,000 0
1,001,385
2017
2018
2019
2020
2021
2022
Emissions (mtons C02e) 2017-2022
● Scope 1
● Scope 2
● Scope 3
● Electric Power ● Natural Gas ● Other Energy/Emissions Sources*
(TENANT EMISSIONS ONLY)
Emissions Source - Scope 1 + 2 (mtons CO 2 e)
2017
2018
2019
2020
2021
2022
% Reduction (2013-2022)
Given the size and scale of our operations, we recognize the challenges of meeting our targets, particularly in engaging our numerous tenants. However, we remain committed to sharing our knowledge and expanding our relationship with this critical stakeholder group. We are currently finalizing our low-carbon transition plan, which will outline the specific actions we need to take over the next five, ten, and fifteen years to achieve our goals.
Electric Power
262,588
228,320
215,489
93,117 3,966
97,334 4,886
103,798
-68.92% -45.23%
Natural Gas
11,137
6,486
7,049
6,139
Other Energy Sources*
13,035
15,276
19,441
14,729
17,010
16,531
-0.72%
Total
286,759
250,082
241,979
111,812
119,230
126,469
-65.05%
Energy Source (MWh)
2017
2018
2019
2020
2021
2022
% Reduction (2013-2021)
Electric Power
626,998
589,392
565,948
442,313
494,069
492,595
-30.49% -45.28%
Natural Gas
61,342
35,728
38,819
21,839
26,908
33,807
Other Energy Sources*
52,001
56,408
60,726
38,977
49,686
47,077
-26.44%
Total
740,341
681,527
665,494
503,130
570,664
573,479
-31.27%
We follow the GHG Protocol Corporate Standard for our greenhouse gas inventory. For our GHG data tracking, we use the operational control boundaries since they most accurately reflect the day-to-day practices of our business and are most relevant to retail real estate.
* Other energy/emission sources include chilled water, diesel, ethanol blends, gasoline petrol, propane, and refrigerants.
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ENVIRONMENT
CREATING SUSTAINABLE CENTERS
CUSTOMERS
COMMUNITIES
EMPLOYEES
APPENDIX
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