Shopping Centers Today

AUG 2018

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

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tives and exceed our ambitious energy and greenhouse-gas emission-reduction goals," said Chairman and CEO David Simon. Smart-irrigation technology at Fashion Valley Mall, in San Diego, has saved nearly 3.2 million gallons of water. is year Simon is engaging its tenants through energy audits and other measures for improving sustainability. Simon, which has 446 electric-vehicle-charging systems across roughly 100 properties, won top awards from GRESB and the Carbon Disclosure Project for climate-change disclosures and corporate governance policies. Weingarten Realty has teamed up with energy provid- er Summer Energy to purchase clean-energy-supporting "green tags" — also called renewable-energy certificates. ese serve as tradable energy commodities and proof that at least 1 megawatt-hour of electricity was generated from renewable energy resources before being fed into the grid. Forest City Realty Trust has been named an Energy Star Partner of the Year, the EPA's highest honor for an energy-efficient organization. Forest City became only the second U.S. REIT to establish a greenhouse-gas-reduction goal approved by the Science Based Targets initiative. e firm is aiming to reduce emissions across its portfolio by about 27.5 percent and emissions from tenant spaces and construction by 33 percent by 2025. Kimco is responding to transparency demands by supply- ing investors with verified performance data from its GRI- aligned report, says Teichman. Kimco invested $11.4 million last year in 238 sustainable-improvement projects it con- trols, achieved a 4.12 percent reduction in same-site green- house-gas emissions and diverted a quarter of operational waste (55,491 metric tons) away from incinerators or landfills. Regency Centers, the first U.S. REIT to issue green bonds, has completed at least 17 LEED-certified develop- ments since 2009 and says it aims to reduce greenhouse-gas emissions and same-store energy consumption by a cumu- lative 20 percent each, by 2021. DDR Corp. conserves water in dry climates using drought-tolerant native foliage, xeriscaping (landscaping that requires little or no irrigation) and drip-delivery irriga- tion controls to reduce usage by as much as 40 percent. In a seemingly counterintuitive reproof to the perception that sustainability sacrifices financial returns, some of the world's biggest investors, including Bank of America, Gold- man Sachs and Morgan Stanley, are finding that companies that pursue these environmental goals show stronger fiscal results, according to IronOak Energy executive Wedding, who is also an executive-in-residence at Duke University's Nicholas School of the Environment and a professor at University of North Carolina at Chapel Hill. Approximately 80 percent of S&P 500 companies now produce annual sustainability reports, up from just 20 per- cent in 2011, Wedding says. "At its core," said Kimco's Teichman, "sustainability is about building a business that will stand the test of time." n A U G U S T 2 0 1 8 / S C T 43 The rooftop urban farm at Bethesda (Md.) Row

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