ESG
Our business, like every business, is deeply intertwined with environmental, social, and governance (ESG) concerns.
Our ESG Vision
We recognize the role of ShopCore’s people and properties in preserving the resources we have available to current and future generations. Our actions can help our communities thrive.
100% of properties are on Energy Star Portfolio Manager
100% of properties have completed benchmarking and compliance initiatives
Achieved Green Lease Leader Gold status
Achieved WELL Health-Safety certification at The Shops at Skyview
100% common area LED lighting by end of 2023
Net Zero Scope 1 and 2 Emissions goal by 2030
100% of properties are on Energy Star Portfolio Manager
100% of properties have completed benchmarking and compliance initiatives
Achieved Green Lease Leader Gold status
Achieved WELL Health-Safety certification at The Shops at Skyview
100% common area LED lighting by end of 2023
Net Zero Scope 1 and 2 Emissions goal by 2030
Where We’re Going
We envision a world where solar on retail rooftops is the status quo, our operations are zero waste and fully powered by renewable energy, and we engage all our communities in initiatives such as urban beekeeping and local farmers markets. We want to create a future where every ShopCore employee sees themself represented in our leadership, where our buildings contribute to public health and wellbeing, and where we have helped CoreGiving realize its objective of eliminating child hunger in the U.S.
When it comes to ESG, we aspire to be the best — not only in the operations of our properties, but for our people and communities more broadly. We plan to lead the way to a carbon neutral future in retail real estate. And we know we can’t get there alone: we want to collaborate with our stakeholders and our peers to expand what’s possible in the world of retail.
Our Approach to ESG
We’re actively implementing policies and procedures with sustainability in mind. From our properties to our partnerships and our own key performance indicators (KPIs), prioritizing the environment is part of how we do business. We place an important focus on our environmental, social, and governance (ESG) goals.
View 2021 ReportWhy ESG Matters
A robust ESG program makes our properties more efficient, reduces risk, and positively impacts the communities we serve. To keep us on track for realizing our big-picture commitment to ESG, we intend to expand on our efforts to date based on the results of our formal materiality assessment.
- Incorporate DEI into all company trainings
- Launch our supplier diversity program
- Contribute to CoreGiving’s goal of donating 18 million meals in 2023
- Deploy software program for ESG data
- Complete our first formal materiality assessment
- Respond to CDP annually
Environmental Responsibility
Central to our mission, our mandate, and our purpose.
Our Emissions
Environmental sustainability is ingrained in how we do business. We have set ambitious, data-driven, short- and long-term targets to ensure we do our part to meet global greenhouse gas emissions goals. We are proud to have set a net zero by 2030 goal for our scope 1 and 2 GHG emissions, and we continue to implement new initiatives to help us get there. Key strategies toward meeting our goals and minimizing our environmental impact include:
- Annual greenhouse gas emissions inventory
- On-site renewable energy generation
- Common area LED upgrades at 100% of properties
- Advanced building control and automation systems
- Installing Electric Vehicle charging stations
We’ve joined forces with a number of strategic partners to advance our goals, reduce our footprint, enhance our financial health, and preserve the environment for future generations.
Our Properties
ShopCore aims to be a leader in sustainability and we look to be partners with our tenants to mutually achieve our sustainability goals. We recognize each property is unique and has its own set of solutions to advance sustainability, and we encourage creativity to do so. Our solutions include, but are not limited to:
- Benchmarking and tracking energy consumption in ENERGY STAR Portfolio Manager
- Green leasing practices
- Piloting high-diversion material management programs
- Reducing water consumption
- Incorporating sustainability into all business decisions
- Urban Beekeeping
Social Responsibility
We are rising to the challenge.
Our People
Our people are our most valuable asset at ShopCore, and we are committed to fostering a diverse and inclusive culture where everyone feels valued, included, and empowered to be themselves.
Our Diversity, Equity, and Inclusion (DEI) Committee cultivates a diverse, equitable, inclusive, and supportive professional environment. Through our SEED program, we foster personal and professional growth for all women at ShopCore. Our Amplify mentor program supports our mission to develop and retain diverse talent at all levels of our organization.
Our Communities
Giving back has been part of who we are from the very beginning. As part of our commitment to strengthening the communities our shopping centers serve, we have partnered with our fellow portfolio companies in support of CoreGiving, a 501(c)(3) non-profit organization dedicated to ending childhood hunger in the United States.
We host charitable events at our properties like book swaps and school supply drives, and we use our space to help empower small and local businesses with the opportunity to grow. We are also building a procurement process and supplier database that we can use to prioritize working with like-minded companies that value diversity, opportunity, and sustainability.
Our Health & Wellbeing
There is a direct connection between our environmental sustainability efforts and human health, and we are working to make sure our buildings are designed to put people – and their wellbeing – at the center.
We have piloted and have been awarded the International Well Building Institute’s WELL Health-Safety Rating which validates the high standard at which we operate our buildings and keep our tenants and communities safe, and we regularly host events like farmers markets that contribute to the strength of our communities’ social fabric.
Governance
ShopCore is committed to aligning its governance around international market standards to ensure we remain globally competitive and adhere to a high level of transparency in reporting. We are committed to measuring, tracking, and reporting on our environmental footprint, from carbon emissions and energy usage to waste generation and water consumption, as well as our social initiatives including DEI progress and philanthropic activity.
In 2021, we completed our first third-party assured greenhouse gas emissions inventory for scopes 1, 2 and 3; published our inaugural, TCFD- and GRI-compliant ESG report; submitted a first-time response to CDP; complied with all benchmarking and reporting requirements; and linked sustainability KPIs to the bonus pool for all employees.
We continued this level of reporting and transparency through 2022, in addition to establishing our first-ever ESG Steering Committee. This committee brings together ShopCore team leads and primary internal ESG stakeholders to build consensus on high-level ESG strategies and goals, make fully informed decisions that affect multiple intersecting areas of our business, and execute on our plans effectively, efficiently, and cohesively.