Sustainability

Sustainability

At Simon, we define and implement sustainability initiatives that consider all aspects of our business. This approach enhances the communities in which we operate and also generates long-term shareholder value by embracing opportunities, improving the bottom line, and mitigating environmental and social risks.

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.

Simon is becoming more sustainable, and helping our retailers reduce their footprint, too.

Shopping Brick-and-Mortar creates an average of 60% fewer emissions and about five times less waste than when shopping for the same basket of goods. Learn more about why where you shop matters in the video below, and in our research with Deloitte Consulting.

Earth image

 

Where you shop matters image

The four key areas of our sustainability framework are:

Creating Sustainable Centers
customers key image

Responding to customers' needs and assisting our tenants to succeed in their business by enhancing the shopping experience at Simon centers.

Simon is committed to:
  • Continuing to expand our tenant engagement initiative to collaborate with tenants and reduce our scope 3 carbon emissions by 21% by 2035.
  • Maintaining the WELL Health-Safety Ratings at our centers through 2022.
  • Providing EV charging stations at 100% of our properties.
Communities key image

Build strong communities through development and engagement activities that have a positive social and economic impact at the local level.

Simon is committed to:
  • Creating a positive impact on over 204 million residents living near our centers.
  • Graduating the 30,000 Simon Youth Foundation (SYF) students by the end of the 2024 2025 academic year.
Environment key  image

Effectively develop and operate our properties with innovative solutions that reduce our environmental footprint as well as our operational costs.

Simon is committed to:
  • 68% reduction in scope 1 and 2, and 21% reduction in scope 3 GHG emissions by 2035..
  • Developing a low carbon transition plan.
  • Minimizing water usage by reducing consumption at our centers by 20% between 2013 and 2025.
  • Incorporating sustainable development guidelines in all new (re)developments.
  • Increasing the number of green building certifications annually.
Employees key image

Maintaining a culture that attracts and retains the sector's best talent through thoughtful employee engagement.

Simon is committed to:
  • Participating in The Disability Equality Index annually, and being named among D&l's Best Places to Work for Disability Inclusion™.
  • Providing ethics training to 100% of full-time employees within 30 days of hire.
  • Establishing an annual employee Sustainability Innovation Award.

Simon’s Sustainability Office is led by the Director of Sustainability, a full-time dedicated employee responsible for managing the company’s ESG programs. Our Director of Sustainability leads the ESG Executive Committee (formerly named the Sustainability Executive Committee), which includes C-suite executives from core functions of the Company, including the General Counsel, Chief Financial Officer, Chief Administrative Officer, President of Development, EVP of Simon Management, and SVP of Human Resources. The ESG Executive Committee supervises our sustainability performance, including monitoring climate-related issues, and reports directly to the CEO and Board of Directors. This committee provides leadership and oversight to encourage and assure sustainability opportunities are supported and recognized at the highest level of the company.

Aharon Kestenbaum - Head of Sustainability
While our primary focus has and continues to be the health, safety, and wellbeing of our customers, communities, and employees, we are determined to meet our long-term carbon reduction commitments by updating our internal policies, stimulating innovation, and developing a robust tenant engagement program.
Aharon Kestenbaum
Head of Sustainability

Key Highlights 2021

Key Highlights

External Recognition

Simon has consistently been recognized for its sustainability disclosure and performance by third parties.

Nareit

Nareit: Awarded 2022 Leader in the Light Award for retail property sector by Nareit for demonstrating outstanding sustainability practices.

CDP A LIST 2021 CLIMATE

Carbon Disclosure Project: Achieved an A-score, earning a prestigious place on CDP's Climate Change A List.

GRES B
GRESB: Received a Green Star rating, the highest designation for sustainability in the real estate industry awarded by the Global Real Estate Sustainability Benchmark (GRESB) (2014-2021).
StormReady
StormReady: Recognized as StormReady by National Weather Service for all U.S.
DISABILITYTM EQUALITY INDEX
Disability: IN: Received recognition for the first time as a "Best Places to Work for Disability Inclusion" by Disability: IN for our continued efforts in diversity and inclusion.