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Announcements, Press Releases

ShopCore Properties Releases First ESG Report

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CHICAGO (November 30, 2021) — Today, ShopCore Properties released its first-ever Environmental, Social, and Governance (ESG) report, elaborating on its commitments to and achievements in corporate responsibility. The full report can be found at ShopCore’s website, ShopCore.com.  

“2020 was a year that tested — and proved — the mettle of all of us at ShopCore Properties, including our commitment to sustaining our planet, our communities, and our team during an unprecedented time,” said Kevin Kessinger Executive Vice President of Asset Management of ShopCore Properties. “The past year also pushed us to perform in new ways as an organization and as a leader in our space. We innovated in how we engage and inspire our team members, whether they’re working from the office or their homes. We have reimagined how we can “future-proof” our properties by designing for sustainability, health, and wellness. And we have exponentially increased our collaboration with our tenants to redefine the role that our spaces will play in the years to come.”

ShopCore Properties owns more than 60+ assets comprising 16 million square feet of retail properties in densely populated sub-markets in 15 states, anchored by best-in-class retailers.

The full report details best practices ShopCore is undertaking to support the advancement of its team, including diversifying its workforce; giving back to the markets that it serves; and improving the sustainability and efficiencies of its properties. Highlights of ShopCore’s 2020 achievements and future plans include:

Environmental

  • Formalized a commitment to net zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2030
  • Committed to 25% renewable energy by 2022
  • Piloted the WELL Health-Safety Rating at the Shops at Skyview in Flushing, Queens, New York
  • Recognized as a Green Lease Leader 
  • 100% of properties are now in ENERGY STAR® Portfolio Manager
  • Completed first solar project, a 240-kilowatt rooftop system at Gilroy Crossing in Gilroy, California
  • Prioritized energy efficiency, including, reducing the carbon footprint of The Shops at Skyview Center in New York City, eliminating 442 metric tons of GHG emissions annually
  • Linked climate-related KPIs to the bonus structure for all ShopCore employees starting in 2021

People

  • Established a Diversity, Equity, and Inclusion (DEI) Committee
  • Launched a first-ever DEI survey to assess where ShopCore stands today, and how to advance in creating an even more respectful and inclusive workforce that more closely resembles the communities ShopCore shopping centers serve
  • Established the SEED program to Support, Empower, Engage and Develop women within ShopCore and enjoyed ~80% attendance and participation at SEED events

Social

  • At a time of great financial stress for many communities, ShopCore focused on its CoreGiving 501(c)(3) organization dedicated to ending food insecurity
  • The company donated more than 4.1 million meals to CoreGiving in partnership with fellow Blackstone portfolio company, LivCor
  • 100% of CoreGiving donations go directly to the communities ShopCore Properties serves

ShopCore’s approach and strategy regarding ESG is driven by what is material to its business and stakeholders, in line with the Global Reporting Initiative’s (GRI’s) guidance and tied to the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The ESG program was formalized in 2019 with the goal of integrating sustainability throughout ShopCore’s business operations and now includes a number of time-bound goals to track ShopCore’s progress as it realizes its big-picture commitment to ESG.

 

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 60+ plus shopping centers covering approximately 16 million square feet in 15 states. For more information, visit ShopCore.com.

 

About Green Lease Leader
Green Lease Leaders is a national recognition program honoring landlords, tenants, and partnering real estate practitioners from a variety of sectors that incorporate green leasing to drive high-performance and healthy buildings.

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