Shopping Centers Today

AUG 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 40 of 59

Achievements S Sustainability seems to have moved into the fiscal prime time. Now, alongside such staples as balance sheets and development-pipeline reports, sustainability is assuming an increasingly weighty role in corporate annual reports, as public retail companies respond to investor demand for critical operations data. "Investors are realizing that sustainable investing can mit- igate risks, reduce operating costs and create 'alpha' in their portfolios," said Chris Wedding, founder and managing partner of Chapel Hill, N.C.–based IronOak Energy Capital, a clean-energy investment-banking and advisory firm. Among the companies highlighting greenness in their latest annual reports are GGP, Kimco Realty, Macerich and Simon, all of which issued separate sustainability or corporate-responsibility reports with more-detailed accomplishments. Kimco's report highlights that the firm has been named to the Dow Jones Sustainability North America index for the third time, and Kimco boasts that it is the only retail REIT on the index. e company posted a perfect score under the inaugural Global Real Estate Sustainability Benchmark (or GRESB). "If there's one thing we learned in our five years of com- piling and distributing comprehensive corporate responsibility reports, it's that adaptation to change is one of the most important contributing factors to sus- tainability," said Will Teichman, Kimco's senior director of strategic operations, in a company blog. GGP placed seventh among U.S. companies for installed solar capacity on the Solar Energy Industries Association's ranking, for the second straight year. GGP also won a Green Star rating from GRESB, for the fourth consecutive year. "is honor recognizes our efforts to make ecological, eco- nomic and social initiatives an integral part of our business," said Sandeep Mathrani, chief executive officer of GGP. GGP's upgrade of two former Sears spaces, at Staten Island (N.Y.) Mall and at e Mall in Columbia (Md.), required some green ingenuity. At Columbia Mall, where an 80,000-square-foot former Sears was recast for three tenants, GGP insulated ductwork with aluminum to minimize heat gain and loss, installed a reflective roof and added a RhinoBond system, nearly doubling the heat-re- sistance strength, from 16.5 to 31.4. At Staten Island Mall, where a 23,000-square-foot former Sears was converted to a Container Store, GGP put in seven high-efficiency rooop air-handling units and a white "cool roof " containing recy- cled material. Systemwide, the new cooling units save some 67.2 million kilowatt-hours of power annually. Hamburg-based ECE Projektmanagement leads the way in Germany, with some 70 sustainable certifications. All retail centers seeking certifi- cation have earned at least Silver awards from the German Association for Sustainable Building standards, considered to be

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