Simon Sustainability Report 2021


GREENRETAILERCOLLABORATION The buildings sector alone contributes to 40% of global carbon emissions, inclusive of construction and operation. Decarbonizing the sector is crucial to achieving the commitments made under the Paris Agreement and the United Nations Sustainable Development Goals. The carbon footprint of Simon’s shopping centers depends heavily on the consumption of tenants; approximately 83% of Simon’s GHG emissions are associated with the activities of our tenants. Working with Simon’s retailers will be essential to achieving its goal of reducing its carbon emissions associated with tenants (scope 3 carbon emissions). For this reason, Simon has committed to reduce scope 3 carbon emissions by 21% by 2035 (as part of our commitment toward the Science Based Targets initiative—SBTi).

As part of this initiative, in 2021, Simon launched a green retailer collaboration program. Both Simon and its retailers have ambitious environmental programs and goals, but a structured collaboration and program between landlord and tenants is essential to meet the reduction in carbon emissions goals. By actively engaging and collaborating with tenants on sustainability projects of mutual interest, Simon and its tenants can realize enhanced financial and environmental results. Finally, collaboration on this level will not only elevate Simon’s reputation as a leader in sustainability in the industry but also that of the retailers in their respective sectors.





EDUCATION AND SHARING OF INFORMATION Reach Out to Large Retailers—Corporate Initiative In summer 2021, Simon’s corporate sustainability team reached out to the corporate sustainability teams of 30+ of our tenants, which represents over 20% of our portfolio coverage (sq ft). The aim of this initiative was to lay a solid foundation for a structural and strategic collaboration to reduce our environmental impact. To develop this relationship, we started to identify the top priorities for those teams and identify where there is a potential alignment.

TAKE ACTION AND IMPLEMENT BEST PRACTICES Baled Film Program at Roosevelt Field—Roosevelt Field, Metro New York To eliminate the worst kinds of plastic from landfills and emissions, so they don’t end up in oceans and rivers, Simon partnered with JCPenney and all tenants at Roosevelt Field to increase plastic film recycling. Simon, through direct engagement with our tenants’ corporate sustainability teams, identified plastic film recycling as a high priority that aligns with Simon’s goals to reduce its scope 3 emissions.

WORK TOGETHER ON EVENTS AND SET COMBINED TARGETS Earth Day Electronic Recycling Event— Earth Day at Lenox Square, Atlanta Seven Simon centers hosted Earth Day events in 2021. One of them was Lenox Square, which hosted an Electronics Recycling Event together with Georgia Natural Gas and eWaste/ePlanet. The event was held outside, adjacent to the EV charging stations. This event was free to the public and was promoted through Simon-owned channels. Attendees could also pick up promotional items provided by the local team.








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