CHICAGO (Oct 13, 2022) — ShopCore Properties released its 2021 Environmental, Social, and Governance (ESG) report. The report details initiatives ShopCore is undertaking to improve the sustainability and efficiency of its properties; support the advancement and diversity of its team; give back in the markets that it serves; and advance the rigor, transparency, and accountability of its governance and reporting.
The report, ShopCore’s second, was completed with reference to the Global Reporting Initiative’s (GRI) standards and the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). The full report can be found on ShopCore’s website, www.shopcore.com.
“In 2021, ShopCore set a bold agenda for the coming year, one that focused on becoming an even better place to work, leading our industry in sustainability, and helping eliminate food insecurity through our work with CoreGiving,” said Marc Ricks, Chief Executive Officer of ShopCore Properties. “As the company’s new CEO, I was highly impressed by the successes our team posted in 2021 and can’t wait to work with them to meet our even more ambitious goals for 2022 and beyond.”
Highlights of ShopCore’s 2021 achievements include:
Environmental
- Completed a third-party assured greenhouse gas (GHG) emissions inventory for Scopes 1, 2, and 3
- Formalized a commitment to achieve net zero Scope 1 and 2 GHG emissions by 2030
- Recognized as a 2021 Silver Green Lease Leader with 83 completed Green leases by the end of 2021
- Launched an urban beekeeping program at select assets, with a goal of 50 percent of properties by the end of 2022
- Achieved a total of 40 percent LED lighting in common areas with a goal of 100 percent by end of 2022
- Reached a total of 34 percent of assets with EV charging stations in place or under construction
Social
- Helped raise more than $1.8 million, equivalent to over nine million meals for CoreGiving, a 501(c)3 organization created by Blackstone Real Estate portfolio companies dedicated to combating food insecurity through corporate donations, fundraising campaigns, and events at properties portfolio-wide; 100% of CoreGiving donations went directly to more than 40 food banks nationwide
- Participated in the first-ever CoreGiving Day on September 23, 2021, a day of service that brought together 1000+ volunteers across 19 cities to support 24 nonprofits with 8,000+ volunteer hours
- Implemented a second annual company-wide DEI engagement survey, along with a DEI training series
- Launched a database to track key supplier information, including environmental and social policies, and diversity status requested as part of the procurement process for future goal setting and improvement initiatives
- Launched 2022 Amplify mentorship program for women at ShopCore
- Updated company values through the creation of CORE (Community, Opportunity, Responsibility, Entrepreneurship) culture statements
- Renewed WELL Health-Safety Rating at The Shops at Skyview, New York property for 2021
- Participated in Hunger Action Awareness Month with activations at 10 properties
Governance
- Linked sustainability KPIs to all eligible employees’ performance targets and compensation metrics
- Responded to CDP’s (formerly the Carbon Disclosure Project) 2020 survey to measure environmental impact for the first time in 2021; ShopCore has since subsequently completed a 2021 survey submission in 2022
*Property numbers herein are reflective of current stats. The property numbers included in the report reflect 2021 stats. All goals referencing the end of 2022 are measured with like-for-like properties, or those properties that will be actively owned as of the end of 2022 that were also actively owned as of December 31, 2021.
About ShopCore Properties
ShopCore, a Blackstone portfolio company, is a vertically integrated real estate company with internalized leasing, development, property management, legal, accounting, and asset management functions. Currently, ShopCore leases and manages more than 100 shopping centers, comprising nearly 20 million square feet across 18 states. For more information, visit shopcore.com.
