RVBA-SPG

Simon Property Group — full event log

Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.

← back to Data by year

2026· 1 event

Death of CEO David Simon; Eli Simon appointed CEOData confidence — high

David Simon, long-time Chairman, CEO and President, passed away on March 22, 2026. Eli Simon appointed CEO, President and COO by the Board of Directors.

sustainability_report p.4

2025· 5 events

Acquired The Mall Luxury Outlets (Italy)Data confidence — high

Acquired 100% interest in two luxury outlet destinations in Italy (Florence and Sanremo) for €350 million.

sustainability_report p.72

Acquired remaining 12% of TRG (Taubman Realty Group)Data confidence — high

On October 31, 2025, Simon acquired the remaining 12% interest in TRG it did not previously own in exchange for ~5.06 million OP units. TRG holds interests in 22 regional/super-regional/outlet malls. Resulted in $2.9 billion non-cash gain on remeasurement of previously held equity interest. 11 TRG properties now consolidated, 11 accounted for under equity method.

sustainability_report p.71

Acquired remaining interest in Brickell City CentreData confidence — high

Acquired remaining 75% interest in retail component and 100% of parking component of Brickell City Centre for $497.7 million.

sustainability_report p.72

Acquired Phillips PlaceData confidence — high

Acquired 100% interest in Phillips Place, a 132,805 sq ft center in Charlotte, NC, for $143.8 million.

sustainability_report p.72

Acquired The Mall Luxury Outlets in ItalyData confidence — high

On January 30, 2025, completed the acquisition of a 100% interest in two luxury outlet destinations in Italy (Leccio near Florence, and Sanremo). Acquisition price was €350.0 million.

sustainability_report p.72

2024· 8 events

Acquired additional 4% interest in TRG (now 88%)Data confidence — high

In Q4 2024, acquired an additional 4% ownership in TRG for approximately $266.7 million by issuing 1,572,500 OP units, bringing noncontrolling interest in TRG to 88%.

sustainability_report p.72

Sold remaining interest in Authentic Brands GroupData confidence — high

In Q1 2024, sold all remaining interest in ABG for cash proceeds of $1.2 billion, resulting in a pre-tax gain of $414.8 million.

sustainability_report p.73

Acquired additional 4% in Taubman Realty Group (TRG)Data confidence — high

In Q4 2024 acquired an additional 4% ownership in TRG for approximately $266.7 million by issuing 1,572,500 OP units, bringing noncontrolling interest in TRG to 88%.

sustainability_report p.72

TCFD-aligned climate risk disclosuresData confidence — high

Simon states climate-related risk disclosures are aligned with the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) established by the Financial Stability Board.

sustainability_report p.105

Other-than-temporary impairment of JV development projectData confidence — high

In Q4 2024, recorded $57.0 million other-than-temporary impairment charge representing pre-development costs associated with an unconsolidated joint venture development project.

sustainability_report p.101

J.C. Penney/SPARC merger forms Catalyst BrandsData confidence — high

On December 19, 2024, J.C. Penney acquired the retail operations of SPARC Group, renamed Catalyst Brands. Recognized $100.5M non-cash pre-tax gain. SPG now holds 31.3% noncontrolling interest in Catalyst.

sustainability_report p.65

Sold remaining ABG stake for $1.2BData confidence — high

In Q1 2024, sold all of remaining interest in Authentic Brands Group (ABG) for cash proceeds of $1.2 billion, resulting in a pre-tax gain of $414.8 million.

sustainability_report p.72

J.C. Penney + SPARC merger forms Catalyst BrandsData confidence — high

Dec 19, 2024: J.C. Penney acquired retail operations of SPARC Group, renamed Catalyst Brands. Simon recognized $100.5M non-cash pre-tax gain; now holds 31.3% noncontrolling interest in Catalyst plus 33.3% in SPARC Holdings.

sustainability_report p.65

2023· 2 events

Low carbon transition plan in developmentData confidence — high

Simon committed to developing a low carbon transition plan in 2023 outlining specific actions over the next 5, 10, and 15 years.

sustainability_report p.6

Low-carbon transition plan in development for 2023Data confidence — high

Simon stated preparations are in progress to develop an initial low carbon transition plan in 2023.

sustainability_report p.6

2022· 5 events

Water reduction target: 15% by 2030Data confidence — high

New target to reduce water consumption for comparable centers by 15% by 2030 against a 2022 base year. A prior target of 20% reduction by 2025 (2013 baseline) was already exceeded with a 26% reduction.

sustainability_report p.32

LRQA limited assurance over GHG inventory and environmental dataData confidence — high

LRQA provided limited assurance over Scope 1, 2, and selected Scope 3 categories (3, 4, 5, 6, 7, 13), water, waste and energy data for CY2022 against ISO 14064-3 and GHG Protocol.

sustainability_report p.58

Refrigerant emissions GWP correction noted by assurerData confidence — high

LRQA assurance noted refrigerant emissions were overreported due to incorrect/inconsistent GWP application; some site electricity data missing; CH4/N2O from mobile fuels excluded. Impacts described as immaterial.

sustainability_report p.58

Scope 3 baseline updated from 2005 to 2013Data confidence — high

GRI disclosures updated base year for Scope 3 emissions from 2005 to 2013 to align with SBTi-validated targets and improved data coverage.

sustainability_report p.71

Water reduction target: 15% by 2030 vs 2022 baselineData confidence — high

New water reduction target set: reduce water consumption for comparable centers by 15% by 2030, base year 2022.

sustainability_report p.32

2021· 3 events

First-time inclusion of REC purchases in market-based Scope 2affects scope 2 co2e marketData confidence — high

In 2021 reporting, Simon took credit for reducing market-based emissions by incorporating renewable energy certificates (RECs) and power offtake from Texas renewable sources for the first time. RECs equivalent to abatement of approximately 79,399 mT CO2e.

sustainability_report p.37

Restatement of prior-year GHG figures (2019, 2020, 2021)Data confidence — high

Report was revised on September 19, 2022 with corrections to: reduction of emissions from RECs (p.37), direct energy consumption and baseline emissions by scope (p.43), Scope 1 emissions for 2019, market-based Scope 2 for 2019-2021, Scope 3 for 2019-2021, and base year emissions.

sustainability_report p.2

Lucideon limited assurance of Scope 1, 2, and 3 emissionsData confidence — high

Lucideon CICS performed independent third-party limited assurance of Simon's 2021 GHG assertion for Scopes 1, 2, and 3 per ISO 14064-3, with 5% materiality threshold met. Positive verification opinion provided.

sustainability_report p.62

2020· 17 events

SBTi-validated targets: 68% Scope 1+2 and 20.9% Scope 3 by 2035Data confidence — high

Simon set Science-Based Targets approved by SBTi in 2020: reduce absolute Scope 1+2 GHG emissions by 68% by 2035 (2019 baseline) and Scope 3 downstream leased assets by 20.9% by 2035 (2018 baseline).

sustainability_report p.39

COVID-19 reduced operational footprint in 2020Data confidence — high

In 2020 Simon centers were closed for approximately 13,500 days due to government restrictions, leading to a sharp decline in energy and emissions. 2021 metrics increased as business returned toward pre-pandemic operations (energy +13% vs 2020, but still -14% vs 2019).

sustainability_report p.33

SBTi-validated 2035 GHG reduction targetsData confidence — high

In 2020, Simon adopted Science Based Target Initiative (SBTi) approved 2035 GHG emissions targets: reduce Scope 1 and 2 emissions by 68% (2019 baseline) and Scope 3 emissions by 20.9% (2018 baseline).

sustainability_report p.47

SBTi-aligned target: 20.9% Scope 3 downstream leased assets reduction by 2035affects scope 3 downstream leasedData confidence — high

Simon set a 2035 target to reduce absolute Scope 3 carbon emissions for downstream leased assets by 20.9%, in alignment with a two-degree scenario reduction. Tenant emissions are the dominant footprint contributor.

sustainability_report p.29

SBTi-aligned target: 68% Scope 1+2 reduction by 2035affects scope 1 co2eData confidence — high

Simon committed to reduce absolute Scope 1 and 2 GHG emissions by 68% by 2035, from a 2019 base year, in support of the Science Based Targets initiative (SBTi). New target announced in 2020 sustainability strategy refresh.

sustainability_report p.29

Baseline year updated from 2003/2005 to 2013Data confidence — high

GHG baseline year for Scope 1, 2 and 3 updated to 2013 (previously 2003 for Scope 2 and 2005 for Scope 3) to be more representative of portfolio footprint and data coverage.

sustainability_report p.70

SBTi-approved targets: 68% Scope 1+2 and 20.9% Scope 3 reduction by 2035Data confidence — high

Simon committed to Science Based Targets initiative with absolute reduction of Scope 1 and 2 GHG emissions by 68% by 2035 (vs 2019 baseline) and Scope 3 downstream leased assets by 20.9% by 2035 (vs 2018 baseline). Approved by SBTi in 2020.

sustainability_report p.39

SBTi-approved 68% Scope 1+2 and 21% Scope 3 reduction targets by 2035Data confidence — high

Simon committed to SBTi-approved targets: reduce absolute scope 1 and 2 GHG emissions by 68% by 2035 from 2019 base year, and reduce absolute scope 3 (downstream leased assets) emissions by 20.9% by 2035 from 2018 base year.

sustainability_report p.43

100% EV charging stations targetData confidence — high

Simon committed to install EV charging stations at 100% of properties where EV providers are available and Simon has operational control. Currently 816 stations at 115 centers (56.6% of domestic properties).

sustainability_report p.13

Acquired 80% interest in Taubman Realty Group (TRG)Data confidence — high

Completed acquisition of 80% ownership interest in TRG for approximately $3.45 billion, adding 24 regional, super-regional, and outlet malls in the U.S. and Asia to the portfolio.

sustainability_report p.4

SBTi-validated 2035 emissions targets setData confidence — high

Set new 2035 science-based emissions targets approved by SBTi: reduce Scope 1 and Scope 2 emissions by 68% (2019 baseline) and Scope 3 (including tenant emissions) by 21% (2018 baseline).

sustainability_report p.5

TCFD alignment of climate-related risk disclosureData confidence — high

Aligned climate-related risk disclosure with recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD).

sustainability_report p.5

COVID-19 pandemic impact on operationsData confidence — high

COVID-19 pandemic caused closure of entire U.S. portfolio, loss of approximately 13,500 shopping days, and over 20% reduction in cash flow. Revenue fell from $5.76B to $4.61B year-over-year.

sustainability_report p.3

Acquired 41.67% interest in J.C. PenneyData confidence — high

With co-investors, acquired certain assets and liabilities of J.C. Penney out of bankruptcy for cash consideration of $125 million.

sustainability_report p.4

Acquired 37.5% interest in Forever 21Data confidence — high

With co-investors, acquired certain assets and liabilities of Forever 21 out of bankruptcy through licensing and operating ventures. Aggregate investment $67.6 million.

sustainability_report p.64

20% water reduction target by 2025 from 2013 baselineData confidence — high

Simon committed to reduce water consumption by 20% between 2013 and 2025. Already achieved 18.5% reduction through 2019.

sustainability_report p.10

First TCFD-aligned climate risk disclosureData confidence — high

In 2020, Simon increased efforts to provide greater detail on potential climate change impacts on real estate portfolio using TCFD guidelines as framework, including scenario analysis (IEA SDS and STEPS).

sustainability_report p.27

2019· 7 events

Tenant water/electricity estimation expandedaffects scope 3 co2eData confidence — med

Beginning in 2019, estimated water consumption from tenants who pay water utilities directly was included; tenant electricity consumption is the largest scope 3 component.

sustainability_report p.71

Natural gas reallocated from Scope 1 to Scope 3 downstream leased assetsaffects scope 1 co2eData confidence — high

Due to a change in methodology for natural gas categorization for 2018 and 2019, a portion of consumption has now been allocated to Downstream Leased Assets, driving down Scope 1 emissions but increasing Scope 3.

sustainability_report p.50

Adopted IPCC AR5 GWP valuesData confidence — high

As of 2019, Simon utilizes IPCC's Fifth Assessment Report (AR5) as source for global warming potentials, replacing earlier assessment reports.

sustainability_report p.61

Third-party limited assurance by Lucideon over Scope 1, 2, and 3Data confidence — high

Lucideon CICS performed independent third-party limited assurance of Simon's GHG assertion for calendar year 2019 covering Scopes 1, 2, and 3 pursuant to ISO 14064-3 with 5% materiality threshold. Positive verification opinion provided.

sustainability_report p.43

Base year updated from 2003 to 2013affects scope 2 co2e locationData confidence — high

Simon updated emissions base year from 2003 to 2013, citing 2013 as most representative of portfolio in terms of site footprint and data coverage. Base year Scope 2 emissions stated as 368,998 tCO2e.

sustainability_report p.54

Estimated tenant water consumption addedData confidence — high

Beginning in 2019, estimated water consumption from tenants who pay their water utilities directly was included in reported figures.

sustainability_report p.68

Adopted IPCC AR5 global warming potentialsData confidence — high

As of 2019, Simon utilizes IPCC's Fifth Assessment Report (AR5) as source for global warming potentials (previously used SAR/AR4). Updates CH4 GWP from 21/25 to 28 and N2O from 310/298 to 265.

sustainability_report p.45