Commercial, Energy Efficiency, GHG Emissions  -  February 27, 2020

Simon cuts emissions 20%, announces new sustainability goals

Simon, the real estate investment trust, announced Feb. 26 that they have achieved their 2020 sustainability goals and established a new set of ambitions going forward.

In their newly released 2019 Sustainability Report, the company reported the progress on their previously set 2020 sustainability goals, which included improving emission efficiency by  portfolio-wide energy efficiency by 5-10%. Both of these goals were completed; absolute emission from Scope 1 and 2 were even reduced by 21% since 2013.

"We follow scientific consensus and are setting our new emission reduction targets to align with the levels of de-carbonization required to keep global temperature increase below 1.5 degrees Celsius, compared to pre-industrial temperatures," Mona Benisi, vice president of sustainability, said in a statement. "We are doing our part to limit the impact of climate change."

Additionally, Simon reported that last year they developed a benchmarking strategy for energy use and has implemented efficiency projects like LED and HVAC upgrades. They also installed over 3 MW of solar arrays and battery storage systems that include capacities of 750 kW, 352 kW and 500 kW at several of their facilities.

At 55% of their real estate properties, electric vehicle charging stations have been installed. The company aims to expand to 100% of their properties.

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