Simon Sustainability Report 2021
SIMON SUSTAINABILITY REPORT 2021
ENVIRONMENTAL PERFORMANCE LINKED TO PERFORMANCE PLANS
MANAGING SUSTAINABILITY AT SIMON
In 2020, Simon initiated the Sustainability Innovation Award for those employees who proactively implement or identify new innovative solutions that contribute to reducing the environmental impact of our centers while simultaneously increasing their profitability. Employees were encouraged to submit their ideas, and they were assessed by an independent corporate jury on scalability, profitability, and novel qualities. The annual winners received company-wide recognition on Earth Day 2021 and each received a monetary award of $500 USD. Read more about the contest in the Environment chapter. All corporate employees, including those not normally part of a bonus plan, are eligible to receive a discretionary or calculated bonus as a result of the Company’s financial performance. Some of the factors considered include performance indicators that are the result of energy-efficiency and emission-reduction efforts. In addition to a monetary award, the Simon Employee of the Month and Employee of the Year programs recognize and reward employees who show exemplary performance in their jobs. The General Counsel, who is part of Executive Management, leads the Company’s sustainability program, including investor-focused climate change-related communications, supporting tenant-focused climate change-related initiatives, emissions reduction, and energy-efficiency initiatives. The success of the program impacts a portion of his compensation. In normal operating years, employees at Simon have financial and non-financial incentives to achieve Simon’s ESG objectives.
Aharon Kestenbaum Director of Sustainability
Our commitment to remaining a partner of the communities we serve is unwavering. Creating sustainable centers is about continuously under standing our communities’ current and future needs, and reimagining our centers as the Live, Work, Play, Stay, Shop destinations that will match their needs. A great challenge in 2021 was developing our sustainability retailer collaboration program. We worked to develop sustainability-focused relationships with approximately 70% of the companies representing our tenants through dedicated corporate outreach and center-based outreach through the IREM ® Certified Sustainable Property (IREM CSP) certification program. Visiting many of our centers throughout the country, both for work and on weekends with my family. I had the chance to meet with the remarkable staffs and witness their tireless efforts that make our centers the premier retail establishments that they are, and the sustainable centers of their communities.
WHAT DRIVES SIMON TO CONTINUE TO FOCUS ON CREATING SUSTAINABLE CENTERS?
WHAT CHALLENGES WERE THERE IN MANAGING ESG IN 2021?
WHAT HAVE BEEN THE ESG HIGHLIGHTS OF THE YEAR FOR YOU PERSONALLY?
CREATING SUSTAINABLE CENTERS
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