INDIANAPOLIS, Feb. 26, 2020 /PRNewswire/ -- Simon®, a real estate investment trust engaged in premier shopping, dining and entertainment destinations today announced the early achievement of its 2020 sustainability goals and established a bold vision for its new sustainability strategy by committing to science-based emissions reduction targets as set forth by the Science-Based Targets Initiative (SBTI).
"Having successfully achieved the progress outlined in our 2019 Sustainability Report, Simon is excited to launch our new strategy and continued commitment to sustainability," said Mona Benisi, Vice President of Sustainability, Simon.
The Science-Based Targets Initiative is a collaboration between CDP Global, World Resources Institute (WRI), World Wide Fund for Nature (WWF) and United Nations Global Compact (UNGC). Science-based targets provide a clearly defined pathway by specifying how much and how quickly companies needs to reduce greenhouse gas emissions.
"We follow scientific consensus and are setting our new emission reduction targets to align with the levels of de-carbonization required to keep global temperature increase below 1.5 degrees Celsius, compared to pre-industrial temperatures," added Benisi. "We are doing our part to limit the impact of climate change."
As part of the Simon sustainability strategy, Simon has set a focus to align the company's climate-related risk disclosure with the recommendations made by the Task Force on Climate Related Financial Disclosures (TCFD) in the coming years.
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed- use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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