Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Social Responsibility
• Corporate Governance and Compliance

Environmental Achievements

• Installed approximately 11.15 million sq ft of white reflective roofing, resulting in energy savings equivalent to removing 23,845 cars from the road, planting 90,947 acres of trees, or eliminating energy use of 10,200 households.
• Installed or replaced 13,630 tons of HVAC units with higher efficiency units, generating $2,456,200 in annual savings and a reduction of 20,298,540 kWh.
• Installed or replaced 14,090 interior lights with higher efficiency T-5 and LED lights, resulting in approximately $618,689.52 savings and a reduction of approximately 5,099,420 kWh annually.
• Retrofitted parking lot lighting to LED at 195 properties in 2020, generating a total savings of $504,393 and an 82.4% energy reduction.
• Recycled over 27,277,994.58 pounds of waste in 2020, equivalent to saving 188,221.33 trees.
• Installed more than 1,369 Front Row 2 Go© curbside pickup spaces.

Social Achievements

• Launched PECO Connect™ program providing $616,900 and $144,750 in rewards to 594 and 301 Neighbors respectively through two iterations of the Rewards Program.
• Named a “Top Place to Work” by Enquirer Media for four consecutive years.
• Launched associate-led programs like PECO MORE and PECO NOW to foster diversity and inclusion and leadership development for women.
• Awarded five new scholarships through The Edison Charitable Foundation.

Governance Achievements

• Established a Code of Business Conduct and Ethics with mandatory training for all associates.
• Established a Governance, Risk and Compliance Working Group to improve collaboration and efficiency.
• Implemented an ethics hotline for anonymous reporting of ethical or legal concerns.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting business operations and tenant support.
• Maintaining environmental sustainability across a large portfolio.

Mitigation Strategies

• Implemented robust safety protocols for associate return to office and remote work capabilities.
• Launched PECO Connect™ program to support tenants during closures.
• Continued investment in energy-efficient technologies and waste reduction initiatives.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 3 (Good Health and Well-being)
• Goal 4 (Quality Education)
• Goal 5 (Gender equality)
• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 10 (Reduced Inequalities)
• Goal 6 (Clean Water and Sanitation)

PECO's initiatives align with these SDGs through various programs and initiatives detailed in the report.

Sustainable Products & Innovation

• Flexi-Pave

Awards & Recognition

• Top Place to Work (Cincinnati Enquirer), Medical Mutual Pillar Award (Smart Business Magazine), Silver MAXI Award (ICSC)

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Social Responsibility
• Corporate Governance & Compliance

Environmental Achievements

• Retrofitted 249 shopping centers to LED, saving 8,602,830 kWh ($946,314)
• Installed over 3.5 million sq ft of white reflective roofing, saving over 900,000 kWh
• Implemented xeriscaping and Smart Water Control Program, saving 55 million gallons of water ($854,000 reinvested)

Social Achievements

• Named a “Top Place to Work” by Enquirer Media for five consecutive years
• Launched associate-led business resource groups: PECO MORE and PECO NOW
• CEO signed the CEO Action for Diversity & Inclusion™ Pledge

Governance Achievements

• Established an internal cross-functional Environmental Social and Governance (ESG) Team
• Implemented a Code of Business Conduct and Ethics, including policies on insider trading, whistleblowing, and cybersecurity
• Majority of Board of Directors are independent (7 out of 8)

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards Core option

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 4 (Quality Education)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 3 (Good Health and Well-being)
• Goal 6 (Clean Water and Sanitation)
• Goal 7 (Affordable and Clean Energy)
• Goal 5 (Gender Equality)
• Goal 1 (No Poverty)

Various initiatives throughout the report align with these goals.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Healthiest Employers of Greater Cincinnati Finalist
• Top Workplace (Cincinnati Enquirer)
• Medical Mutual’s Pillar Award for Community Service
• GlobeSt.com Gold Winner (Marketing & Communications)
• ICSC MAXI Awards Gold Winner (Innovation & Impact)
• Utah Business Magazine Corporate Counsel Award
• Cincinnati 300
• Retail Influencers
• Women of Influence
• Women in Real Estate
• Next Gen Award
• Well Health Safety Rating Award

Environmental Metrics

ESG Focus Areas

• People & Culture
• Environmental Responsibility
• Community
• Oversight & Ethics

Environmental Achievements

• Reduced Scope 1 and Scope 2 GHG Emissions by 10% compared to 2022 levels
• Reduced water consumption by 18% compared to 2022 levels
• 98% of eligible properties converted to LED lighting
• 44% of properties have white reflective roofs
• 75% of eligible properties have remote lighting control systems
• 20% landlord-controlled waste diversion

Social Achievements

• Named a "Top Place to Work" for a 7th consecutive year by the Cincinnati Enquirer
• 92% associate engagement rate with 97% survey participation
• 6% voluntary turnover rate
• 4,592 training hours (average 15.72 hours per associate)
• 15 community service events with 443 community service hours completed by associates
• $11M+ invested in local Neighbors through capital investments
• $34M+ invested in 13 re/development projects

Governance Achievements

• 56% gender and ethnically diverse directors
• 6 years average director tenure
• 100% board member attendance at Board and Committee Meetings
• 96% associates completed cybersecurity training
• 0 Ethics Code violations

Climate Goals & Targets

Environmental Challenges

• Understanding and managing Scope 3 emissions
• Data collection and accuracy for GHG emissions

Mitigation Strategies

• Establishing a Scope 3 reporting strategy
• Improving data coverage and accuracy through data collection improvement
• Engaging a third-party provider to conduct a climate risk scenario analysis

Supply Chain Management

Responsible Procurement

• Vendor Principles and Standards of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Heat waves
• River flooding

Transition Risks

• Regulatory changes

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: IREM CSP, Green Globes

Awards & Recognition

• SMART BUSINESS PILLAR AWARD
• GREEN GLOBE
• 2023 CHAIN STORE AGE TOP 10 RETAIL CENTER EXPERIENCES
• 2023 CINCINNATI ENQUIRER TOP PLACES TO WORK
• 2023 HEALTHIEST EMPLOYERS IN AMERICA
• 2023 HEALTHIEST 100 WORKPLACES IN AMERICA
• CONNECT CRE 2023 LAWYERS IN REAL ESTATE AWARDS
• REALCOMM DIGIE BEST USE OF AUTOMATION
• Gold Level Green Lease Leader