Primary: EV charging infrastructure rollout to 100% of qualified properties Simon had 1,187 EV charging stations at 124 centers in 2021 (961 Level 3, 226 Level 2), present at 62% of properties. Target: 100% of qualified properties. This supports reduced shopper transport emissions and tenant Scope 3.
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Aligned sustainability strategy with UN SDGs Simon aligned its sustainability strategy with UN Sustainable Development Goals focused on education, gender equality, clean energy, sustainable cities, responsible consumption, and climate action.
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Dependent: Return-to-store strategy to cut e-commerce emissions Simon-Deloitte study found physical shopping up to 60% more sustainable than digital, and returning goods to store reduces carbon emissions by an average of 40% vs distribution-center returns. Simon intends to actively promote return-to-store strategies with retailers to lower combined supply-chain footprint.
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Primary: On-site renewables at 10 properties (12.5 MW solar) Simon has ten properties with on-site photovoltaic panels with combined installed capacity of 12.5 MW, generating 3,489 MWh in 2021 to power common areas. Plans include strategically increasing renewable procurement going forward.
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Primary: Green building certifications and sustainable development guidelines Updated sustainable development guidelines incorporate energy efficiency, water conservation, sustainable sourcing for all new (re)developments. 31 green building certifications in portfolio with 28 new IREM CSP certifications in 2021. Phipps Plaza redevelopment includes LEED-certified office tower.
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RECs + on-site solar; Texas wind/solar PPA covering majority of ERCOT load Simon contracted for renewable energy certificates (RECs) and power offtake from two renewable energy sources in Texas via its electricity supplier. Combined solar and wind generation totals ~158,000 MWh, the majority of Simon's load in ERCOT, abating ~79,399 mT CO2e. Ten properties have on-site photovoltaic panels with installed capacity of 12.5 MW, generating 3,489 MWh of clean energy in 2021. At Santa Rosa Plaza in California, Simon opted into Sonoma Clean Power's 93% carbon-free CleanStart tariff.
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Dependent: Tenant (downstream leased assets) engagement to cut Scope 3 Approximately 83% of Simon's GHG emissions are associated with tenant activities. Simon committed to a 20.9% absolute Scope 3 reduction by 2035 (SBTi-validated, 2018 base) focused on downstream leased assets. In 2021, Simon launched a Green Retailer Collaboration program (Educate-Collaborate-Act framework) and engaged corporate sustainability teams of 30+ tenants representing 20%+ of portfolio sq ft to develop joint reduction initiatives.
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Primary: Energy efficiency: LED retrofits, BAS at 48 properties, HVAC upgrades Simon invested over $12.3M in sustainability projects in 2021 including cooling tower replacement, skylight restoration, HVAC replacements, updated chillers, roof recovery, irrigation controllers, LED retrofits, and xeriscaping. Initiated a substantive LED lighting conversion at 60+ properties and rolled out robust building automation platforms at 48 properties. Demand Response program expanded to 43 centers.
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First-time inclusion of RECs in market-based Scope 2 reporting In 2021 reporting, Simon took credit for reducing market-based emissions by incorporating renewable energy purchases (RECs from Texas wind/solar) for the first time, abating ~79,399 mT CO2e.
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Low carbon transition plan in development Simon is finalizing the initial phase of its low carbon transition plan, to be completed in the next two years, with action breakdown over 5, 10, and 15 years to meet 2035 SBTi targets.
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