Climate Change Data

SmartCentres REIT

Climate Impact & Sustainability Data (2020, 2022, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Sustainability

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Amendments to SmartCentres’ investment guidelines and operating policies to update and align the guidelines and policies with current market standards and practice.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • COVID-19 pandemic impacting tenant operations and rent payments.
  • Potential for increased vacancy due to e-commerce growth.
Mitigation Strategies
  • Rent assistance arrangements with tenants.
  • Focus on value-oriented retailers and prime locations.
  • Continuous monitoring of the situation and adaptation to evolving threats.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Natural disasters and severe weather
Transition Risks
  • Government initiatives to counter climate change
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: LEED Gold Certification (KPMG Tower at VMC)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • building design
  • energy utilization
  • climate change
  • efficiencies
  • social interaction with tenants and their customers

Climate Goals & Targets

Environmental Challenges

  • heightened levels of inflation and rising interest rates
  • unparalleled global supply chain constraints and an inflationary environment
Mitigation Strategies
  • fortify its balance sheet and selectively utilize its significant pool of unencumbered assets
  • 82% of the Trust’s debt is fixed, with a staggered ladder of manageable maturities and strong relationships with Canada’s lending community

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • natural disasters and increasingly frequent and severe weather conditions
Transition Risks
  • government initiatives aimed at countering climate change

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:10,351 metric tonnes CO2e
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:534,592,545 kWh
Water Consumption:234,927 m3 (Landlord Controlled); 4.23 million m3 (Tenant Controlled)
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Energy Management
  • Green Buildings
  • Tenant Sustainability Impacts
  • Privacy & Cyber Security
  • ESG Governance
  • Human Capital Management
  • Tenant Satisfaction
  • Affordable Housing
  • Community Engagement
  • Health & Safety
  • Supply Chain

Environmental Achievements

  • Completed LED lighting upgrades at 46% of the GFA at retail locations, reducing emissions by an average of 15% in 2023 compared to 2022.
  • 90% of SmartCentres’ retail properties achieved BOMA Best Gold certification.

Social Achievements

  • 10% of Associates were promoted in 2023.
  • 100% of Associates participated in Training & Development programs, logging more than 1,100 training hours.
  • 150 Associates volunteered 1,200 hours for various charities.

Governance Achievements

  • Established a standing Independent Committee of the Board to review all related party matters.
  • Exceeded the target of women comprising at least 30% of its independent Trustees.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Commence development of Net Zero Strategy.
  • Improve GRESB score relative to previous submission.
Short-term Goals:
  • Increase collection of ESG related data in accordance with controls-based processes.
  • Complete Scenario Analysis with senior-level executives and action identified recommendations.

Environmental Challenges

  • Quantifying Scope 3 emissions from tenant-controlled spaces.
  • Addressing climate-related risks (physical, policy & legal, technological, market & reputational).
Mitigation Strategies
  • Engaged external support to quantify material Scope 3 emissions.
  • Developed risk management plans to mitigate material ESG risks.
  • Used the TCFD Framework to identify climate-related risks and opportunities.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Preliminary Vendor ESG Screening Process

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (wildfire, windstorms, tornadoes, hailstorms, lightning, earthquakes, heat events)
  • Temperature change
  • Increased freeze/thaw cycles
  • Sea-level rise
  • Water security/water stress risk
Transition Risks
  • Policy and Legal Risk
  • Technology Risk
  • Market/Reputational Risk
Opportunities
  • Development of energy-efficient products and technologies

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: BOMA BEST, LEED

Third-party Assurance: RiskCheck (limited assurance)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed