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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:
|EV CHARGING STATIONS AT 108 PROPERTIES ACROSS THE U.S. |
Read more about our sustainability objectives in the sustainability report.
Simon has consistently been recognized for its sustainability disclosure and performance:
ACHIEVED CDP’S “LEADERSHIP” RECOGNITION
FOR SUSTAINABILITY PERFORMANCE
NAMED ON THE CLIMATE ‘A’ LIST
NAMED ON THE CLIMATE DISCLOSURE LEADERSHIP
INDEX SEVEN TIMES AND THE CLIMATE PERFORMANCE
LEADERSHIP INDEX TWO TIMES
RECOGNIZED AS 'STORMREADY' BY NATIONAL WEATHER SERVICE
Our sustainability activities are steered by the head of sustainability who is responsible for developing Simon’s sustainability strategy, including setting the company’s sustainability focus areas and key performance indicators. The head of sustainability drives sustainability initiatives through creating partnerships and close collaboration with key corporate functions and onsite local teams. She chairs the Sustainability Executive Committee that includes executives from core functions of the company.
This committee is the central committee for progressing sustainability initiatives within Simon. It is tasked with setting the strategic direction for the sustainability framework and provides counsel and executive oversight on initiatives. The Field Network is comprised of the management teams at centers across the portfolio.
Mona Y. Benisi, Senior Director of Sustainability Simon Property Group
|2017 Sustainability Report|
|2016 Sustainability Report|
|2015 Sustainability Report|
|2014 Sustainability Report|
|Environmental and Socioeconomic Impact of Mall & Online Shopping|
The retail landscape is evolving. Shoppers have more choices to purchase a wider variety of products in different ways. While the retailers work hard to deliver convenience to shoppers, consumer shopping behaviors do have environmental and socioeconomic impacts. What does that look like? At Simon, we took the challenge of determining whether online or mall shopping was more sustainable by setting up a data-driven methodology to understand the sustainability impacts of both channels.
|To understand the environmental impacts we used a “cradle to grave” Lifecycle Analysis (LCA). A lifecycle analysis examines inputs/outputs of all material, energy, and the associated environmental impacts attributable to a product or service in its lifecycle .|
|We looked at a typical basket of customer purchases. The typical shopping basket is comprised of a combination of four retail products’ journeys from its manufacturing to its end of life when shopped via mall or online.|
|What is the metric that is most applicable to the environment? We used Green House Gas (GHG) emissions as the environmental measure because they are the cause of climate change. Our research and experience determined that the main contributors that affect the level of GHG emissions in either shopping experience include transportation fuels, building energy usage, and packaging differences.|
So what’s the big picture outcome? Simply put, online shopping has a 7% larger environmental impact than mall shopping.
- If you consider all of the people that come to a mall each year and they were to purchase a combination of four products, it results in an average of 14.3 million products bought every year from an average mall. The results of the LCA analysis show that if you buy the same number of products in the shopping mall and online store in a year, online shopping has a 7% larger environmental impact than mall shopping. This impact difference is the same as 6.2 million miles driven by an average car or replacing 68,000 incandescent bulbs with CFLs.
- Also, the study tells us a lot about how specific customer behaviors impact the environment.