Simon Sustainability Report 2021
SIMON SUSTAINABILITY REPORT 2021
Simon is forward-thinking and wants to power its assets with sustainable energy. By 2030, Simon aims to substantially increase the share of renewable energy in our global energy mix and double our global rate of improvement in energy efficiency. We continue to optimize our energy efficiency and procure electricity from cleaner energy sources. We have ten properties that generate on-site renewable energy through photovoltaic panels. In total, these panels have an installed capacity of 12.5 MW, which is used to power the common areas of these centers. In 2021, the on-site production of clean energy was 3,489 MWh. In our reporting for 2021, Simon will take credit for reducing its market-based emissions by incorporating renewable energy purchases for the first time. Via our electricity supplier in Texas, Simon contracted for renewable energy certificates (RECs) and power offtake from two renewable energy sources in Texas. The combined solar and wind generation from these renewable sources
totals approximately 150,000 MWh, or the majority of our load in ERCOT. The RECs, when applied to Simon’s portfolio, are equivalent to the abatement of approximately 81,375 mT CO 2 e. At Santa Rosa Plaza in California, Simon has opted into a lower emissions supply for a portion of its load. Meters not enrolled in California’s Direct Access program have instead been enrolled with a local provider, Sonoma Clean Power. The CleanStart tariff is 93% carbon-free, offering lower emissions than the local utility. Going forward, Simon is dedicated to increasing its purchases of renewable energy and reducing emissions via various means. To ensure that the renewables are high quality and impactful, Simon is developing a plan to procure strategically and in a manner consistent with maximizing shareholder value. Reducing emissions, of course, includes scope 3, the majority of which for Simon, come from tenant electricity consumption. Our plans for renewable energy procurement include tenant engagement and working with our partners to deliver the best potential solutions.
CREATING SUSTAINABLE CENTERS
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