Climate Change Data

ShopCore Properties, L.P.

Climate Impact & Sustainability Data (2020)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:15,527 tCO2e/year
Scope 1 Emissions:2,777 tCO2e/year
Scope 2 Emissions:12,750 tCO2e/year
Scope 3 Emissions:128,986 tCO2e/year
Renewable Energy Share:28% in place (2020)
Total Energy Consumption:23.30 kWh/square foot

ESG Focus Areas

  • Climate Change
  • Diversity, Equity & Inclusion
  • Community Impact

Environmental Achievements

  • Completed first solar project (240-kilowatt rooftop system at Gilroy Crossing)
  • Implemented energy efficiency measures at The Shops at Skyview and One Colorado resulting in estimated annual savings of $61,000 and avoidance of 442 metric tons of GHG emissions at One Colorado.
  • Set a net zero Scope 1 and 2 GHG emissions goal by 2030.

Social Achievements

  • Conducted first-ever diversity, equity, and inclusion (DEI) survey.
  • Established a DEI committee.
  • Launched SEED program to support women within ShopCore.
  • Donated more than 4.1 million meals to CoreGiving.

Governance Achievements

  • Formalized ESG program in 2019.
  • Linked climate-related KPIs to employee bonus structure starting in 2021.
  • Board of Directors approved ESG Framework in 2020.

Climate Goals & Targets

Long-term Goals:
  • Net zero Scope 1 and 2 GHG emissions by 2030
Short-term Goals:
  • 100% common area LED by 2022
  • 25% renewable energy by 2022
  • 50% assets with EV charging stations by 2022
  • Benchmark ShopCore portfolio using WELL Health-Safety Rating by 2021

Environmental Challenges

  • COVID-19 pandemic impacting tenants and requiring adaptation of operations and support strategies.
  • Need to further enhance climate-related risk assessment and management.
Mitigation Strategies
  • Provided rent relief and support to tenants experiencing financial hardship.
  • Implemented remote work support for employees.
  • Enhanced office cleaning and safety measures.
  • Developed a COVID-19 resource page for tenants.
  • Implemented Curb Collect program to aid retailers.
  • Increased marketing efforts to support tenants.

Supply Chain Management

Responsible Procurement
  • Partnership with qb. consulting (small, women-owned and BIPOC-led) for report development.

Climate-Related Risks & Opportunities

Physical Risks
  • Earthquakes
  • Flooding
  • Hurricanes
  • Severe rain/flooding events
  • Severe winter weather events
Transition Risks
  • Emerging regulations
Opportunities
  • Energy efficiency improvements

Reporting Standards

Frameworks Used: GRI Standards: Core Option, TCFD recommendations

Third-party Assurance: Limited assurance from Quinn & Partners on GHG inventory; other data not externally assured.