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By Regina Montanaro, ICSC assistant general counsel
In celebration of Earth Day this Saturday, ICSC is reflecting on the ways it can help its members make business decisions that positively impact our planet, people and businesses. In a 2022 ICSC environmental, social and governance survey, 80% of the participants identified energy management as an ESG priority for their companies. The survey also found interests in renewable energy and greenhouse gas emission management, diversity, inclusion, employee health and safety, and board diversity, as well as a desire for ICSC to provide opportunities for sharing best practices and landlord-tenant partnership strategies related to ESG.
ICSC aims to support members in these efforts with the ESG Center, which launched in the first quarter of 2023. The ESG Center serves as a dedicated platform for ESG resources, best practices, emerging trends, educational programming and thought leadership. ICSC also has launched an ESG Committee to provide a forum for landlord-tenant collaboration for ESG practitioners. To express interest and learn more about the ESG Committee, ICSC members can contact Abby Jagoda, vice president in the ICSC office of government relations & public policy, at ajagoda@icsc.com or ICSC general counsel Lesley Campbell at lcampbell@icsc.com.
Businesses increasingly are adopting sustainable practices in their long-term business models, and ICSC members can reduce their environmental impacts by focusing on energy efficiency, waste management, sustainable products and choices for consumers, and supply chain sustainability, to name a few. As consumers and restaurant-goers become more mindful of their impacts on the environment, many choose lower-impact options with their wallets. Retailers, real estate managers and investors can capitalize on this trend by offering customers sustainable products, improving infrastructure and building electric vehicle charging stations.
EV sales have grown quickly, driving demand for charging stations. EV charging stations, in turn, facilitate EV adoption and offer convenience to shoppers and patrons. That will draw them into marketplaces, and locations with charging stations may see increased foot traffic. Facilitating lower emissions via EV charging is one of the highest-impact endeavors members can make toward climate change action and mitigation. See the latest EV news from ICSC’s office of government relations & public policy at Mandates on EV Charging Stations Follow Rules to Phase Out Gas-Powered Vehicles.
Upgrading building envelopes, HVAC systems and lighting to options that are more energy efficient is a great way to lower a business’ operating impact and, in the long term, costs. See how one ICSC member met environmental goals through energy-efficiency efforts at the ESG Center story Edens Cuts Energy Use.
Operators can take energy efficiency a step farther by constructing renewable energy resources on-site. Installing solar panels on rooftops reduces grid demand, greenhouse gas emissions and, ultimately, energy costs. Many federal and state programs lower the upfront capital costs of these projects, too. See how one ICSC member thinks about its own renewable energy strategy at the ESG Center story Federal Realty’s On-Site Solar Program.
Impacts to the environment extend far beyond emissions, including how people use water and generate and dispose of waste. Both property operators and tenants can lessen these impacts through targeted interventions. Though getting such programs off the ground requires resources, that initial input can help identify opportunities to reduce costs. Here are ideas to address the environmental impact of waste and water: