For Simon, sustainability is a business approach that enhances long-term stockholder value by embracing opportunities and minimizing risks in economic, environmental and social areas.
Assets in our properties are used productively and promote business longevity.
Our actions will not have a negative impact on the environment and will serve to enhance the environment.
Our interactions with the communities we serve facilitate an improved quality of life for communities.
Simon’s sustainability framework covers initiatives specified in terms of expected impact generated. Simon incorporates sustainable thinking into all areas of business from how we plan, develop and operate our properties, to how we do business with our customers, engage with our communities and create a productive and positive work environment for our employees. Simon’s sustainability priorities focus on four key pillars:
Strive for efficiency in operating our properties with innovative solutions that lower operational and maintenance costs, in addition to reducing the environmental footprint of our activities
Continuously anticipate our customers’ changing needs and evaluate our portfolio to enhance the Simon experience – the place where people choose to shop and retailers want to be
Create meaningful social and economic impact to sustain the communities that allow our business to flourish. We are committed to being a responsible corporate citizen and to building strong communities through development and engagement activities
Create a culture that attracts and retains the industry's best employees through talent management, compensation and benefit programs
- Achieved 32% absolute reduction in electricity consumption (Base year 2003)
- Implemented LED retrofits at properties across the U.S.
- Installed over 355 electric vehicle charging stations at over 90 properties across the U.S.
- Offered customers same day and on demand shopping delivery via Deliv at select centers
- 100% of malls engage in local community engagement activities. Simon Youth Foundation has 26 Academies in 12 states and has awarded nearly $15 million in scholarships to approximately 4,000 students
- Participated in Environmental Defense Fund (EDF) climate corps fellowship program in 2015
- Built awareness of sustainability topics among all employees by increasing sustainability engagement initiatives
- Improve GHG efficiency by 5%-10% by 2020*
- Improve portfolio-wide energy efficiency by 5%-10% by 2020*
- Improve portfolio-wide water efficiency by 20% by 2025*
- Expand plastic film recycling at select properties by 2018
- Divert pre-consumer food waste from landfills at selected properties by 2020
- Reuse or recycle 70% of construction waste generated during major renovations
- Assess feasibility of on-site energy generation options for pilot programs in 2015-2016
- Develop internal energy benchmarking tool to implement across enclosed properties
- Encourage Simon employees to volunteer in their communities
- Build awareness of sustainability topics among all our employees by increasing engagement initiatives
- Engage with key tenants on sustainability issues relevant to shoppers to improve the overall sustainability performance of our properties by 2018
- Install WiFi at 90% of our properties by 2025
- Introduce loyalty program in select malls by 2016 (baseline 2014)
- Provide children’s play areas in 90% of our properties by 2020
- Provide electric vehicle charging stations for our customer at 100% of our properties by 20201
- Maintain our strong support of the Simon Youth Foundation through donating commercial space and scholarships for SYF graduates
- Continue to participate in community engagement activities at 100% of our properties
Leadership In Sustainability
- Strive towards sustainability leadership and maintain our leading position with CDP and GRESB
- Strengthen communications and disclosure with stakeholders on our sustainability vision, performance and goals
*Base year 2013
Simon has consistently been recognized for its sustainability disclosure and performance:
ACHIEVED CDP’S HIGHEST “LEADERSHIP”
RECOGNITION FOR TOP SUSTAINABILITY
NAMED ON THE CLIMATE DISCLOSURE
LEADERSHIP INDEX SEVEN TIMES AND
NAMED ON THE CLIMATE
INDEX TWO CONSECUTIVE YEARS, 2014-2015
NAMED ON THE CLIMATE 'A' LIST FOR
TWO CONSECUTIVE YEARS, 2014-2015
RECEIVED GRESB GREEN
RECOGNIZED AS NORTH AMERICAN
SECTOR LEADER IN RETAIL
FOR FOUR CONSECUTIVE
YEARS, 2010 – 2013
CDP provides the largest collection globally of self-reported climate change data and works with 822 institutional investors, holding US $95 trillion in assets to help reveal the risk in their investment portfolios.
GRESB is an industry-driven organization committed to assessing the ESG performance of real assets globally, including real estate portfolios. More than 190 members, of which about 60 are pension funds and their fiduciaries, use the GRESB data in their investment management and engagement process.
Simon’s Sustainability Office is led by the Senior Director of Sustainability, who, under the direction of the Sustainability Executive Committee, is responsible for developing Simon’s sustainability strategy, including setting key performance indicators, driving progress through partnerships and working closely with other functions and teams to implement initiatives.
The Sustainability Executive Committee is a team of executives from various functions of the company such as Development and Construction, Property Management, Leasing, Marketing and Finance. The Committee is tasked with setting the strategic direction for sustainability programming and provides counsel and executive oversight of these initiatives, on both the corporate and local levels.
"Through the support of senior executives, Simon has integrated sustainability throughout different levels of the organization and the company is well equipped to address opportunities and challenges around social, governance and environmental topics."
Mona Y. Benisi, Senior Director of Sustainability
|2016 Sustainability Report|
|2015 Sustainability Report|
|2014 Sustainability Report|
|Environmental and Socioeconomic Impact of Mall & Online Shopping|