Simon Sustainability Report 2020-2021
Simon commits to reduce its direct GHG emissions by 68% by 2035 (2019 base year) and to achieve this, we are searching for opportunities throughout our portfolio that will help drive energy efficiencies at our shopping centers. Investing in updating our technical equipment helps us achieve these environmental objectives, and also enables us to operate with lower costs. In 2020, for example, we invested in LED lighting projects at 47 parking lots and parking garages, and with a significant investment of $10.5M, we upgraded the outdoor lighting at our centers. These investments will have a positive return in the aggregate, and based on current rates, annual energy usage will be reduced by 11.6M kWh, equating to $1.4M of energy cost savings annually. But that is not all. With these new lights we reduced ongoing maintenance costs by approximately $204K and significantly improved exterior light levels, providing customers a welcoming and safe environment in the evenings.
We are actively seeking opportunities within our portfolio to reduce costs while minimizing our environmental footprint, and improving our customer experience. Stephen Kingsley Senior Vice President of Operations and Procurement “ ”
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