Sustainability

Sustainability Report 2020

See Why
 

At Simon, we define and implement sustainability initiatives that consider all aspects of our business. Our sustainability vision is to be recognized as a leader in sustainable retail real estate development and operations in the U.S. In 2020, we updated our sustainability strategy towards ‘Creating Sustainable Centers’ and set new focus areas and long-term commitments to increase our socio-economic impact while reducing our environmental footprint. The four key areas of our sustainability framework are:

 

Framework

 

Simon’s Sustainability Office is led by the Head of Sustainability, a full-time dedicated employee responsible for managing the company’s ESG programs. Our Head of Sustainability leads the Sustainability Executive Committee (SEC), which includes C-suite executives from core functions of the Company, including the GC, CFO, CMO, and CIO. The SEC supervises our sustainability performance, including monitoring climate-related issues, and reports directly to the CEO and Board of Directors.

 

Aharon Kestenbaum Quote

 

Environment

 

Customers

 

As a company, our priority remains to provide a healthy and safe environment for our employees, shoppers, retailers, and the communities we serve. It is our vision to be the epicenter of commerce and community, Simon is investing in our properties to become the ultimate live, work, play, stay, and shop destination in each of our markets. Some of our most exciting projects feature state-of-the-art residential opportunities and ultra-modern office and commercial spaces.

 

Employees

 

 

Communities

 

At Simon, we are committed to building strong communities by promoting development activities and social initiatives at the local level. We have supported Simon Youth Foundation for over two decades, and by investing in individual lives through education we have demonstrated the positive impact that is achievable when people are motivated and empowered to believe in a future greater than themselves.

 

Employed

 

 

Environment

 

We have been at the frontline of action and responsibility for a more sustainable world. In 2020, we identified clear, sector-leading focus areas to minimize our impact on climate change, and we continue to roll out our water conservation plan. By supporting the Science Based Targets initiative and resetting our carbon reduction targets, Simon is prepared to take the necessary steps to reduce its environmental impact now and into the future. 

Science Based Targets

  • * Reduced our direct energy consumption
  • * Reduced our carbon footprint by 32%
  • * Committed to reducing absolute Scope 1 and 2 GHG emissions by 68% by 2035, from a 2019 base year

The Science Based Targets initiative (SBTi)  is a joint initiative by the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute, and the WWF.

Read More Progress

 

 

Employees

 

Our employees are the driving force behind our success. Their commitment, creativity, and ability to deliver consistently outstanding results are what keep Simon ahead of the competition and at the top of our sector year-after-year. To ensure we continue to attract, develop, and retain the best talent across the organization, we invest in our employees and provide equal opportunities.

 

Employees

 

 

Digital vs Physical Shopping

 

A study conducted by Simon and Deloitte Consulting has shown physical shopping to be up to 60% more environmentally sustainable than digital shopping.  Consequences of digital shopping that have a negative impact on the environment are increased returns, expedited shipping, and the additional packaging of e-commerce.  The lower emissions associated with brick and mortar were driven by shoppers making a greater number of purchases per trip and combining their physical visits with other activities as part of their ‘trip-chain.’

 

Download Study

 

 

Happy Returns

 

Discover how smart retailers are finding ways to enhance their profitability and lower their greenhouse gas emissions by better leveraging in-store returns.

 

View the White Paper