Environment

Environment

Environment image

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.

In 2020 we began to revamp our environmental policies and procedures to elevate our standards and to reduce operating expenses in energy, water, and waste. By elevating our own standards, and by educating local teams on environmental best practices, we aim to minimize our impact on the environment, while providing a safe and comfortable environment for all of our stakeholders, and our employees.

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.

We will work to meet or exceed the following environmental management goals:

  • Reduce carbon emissions associated with Simon’s energy consumption by 68% (baseline 2019), and by 20.9% for emissions associated with tenant energy consumption by 2035 (baseline 2018).
  • Reduce water consumption by 20% by 2025 (baseline year 2013).
  • Increase recycling rates across our portfolio with the aim of minimizing waste sent to landfills.
  • Incorporating sustainable development guidelines in all new developments and redevelopments.
  • Increasing the number of green building certifications annually.