Climate Change Data

Environmental Metrics

Social Achievements

• Successfully transitioned and hired over 400 people to internalize management.

Governance Achievements

• Transitioned to an internalized management structure, enhancing accountability and transparency.

Climate Goals & Targets

Environmental Challenges

• Economic uncertainty and volatility impacting investor confidence.
• Transition costs associated with internalizing management ($6 million).

Mitigation Strategies

• Maintained distribution rate, providing a 7% current yield to investors.
• Successfully raised $86.25 million in a public offering of convertible debentures.
• Completed the largest acquisition in company history during a period of capital constraints.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental impact awareness and reduction
• Community collaboration and creative partnerships
• Measurement and business case analysis

Environmental Achievements

• Six newly BOMA BEST certified properties in 2011 (doubling the number from the previous year).
• 1.2 million lbs. of rubble diverted from landfill for reuse at Park Place Shopping Centre.

Social Achievements

• Launched "Something to Wear" campaign, raising over $10,000 in new clothing donations for a women’s shelter.
• Primaris put $68 million back into 32 Canadian communities through property taxes.
• International Council of Shopping Centres awarded Gold Maple Leaf marketing awards to two Primaris Centres.

Governance Achievements

• 66% of the president and CEO’s annual income and equity awards were "at risk" and dependent on performance.
• Implemented a minimum unitholding policy requiring the CEO to hold units valued at three times his base salary.
• Primaris performed well in the annual "Board Games" report on governance and the Board Shareholder Confidence Index.

Climate Goals & Targets

Environmental Challenges

• Greater number of tenant financial restructurings in 2011 than in 2010.
• Maintaining high occupancy levels while attracting high-demand retail brands.
• Managing occupancy levels effectively (long lead time).

Mitigation Strategies

• Strategic remerchandising efforts brought first-to-market brand retailers to various markets.
• Leasing teams continually refresh merchandising plans for each property.
• Focus on attracting exciting and high-demand retail brands.

Supply Chain Management

Responsible Procurement

• Environmental purchasing and recycling requirements in place at many properties.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: BOMA BEST

Certifications: BOMA BEST

Awards & Recognition

• Gold Maple Leaf marketing awards (ICSC)