Sustainability Practices and Philosophies
Our properties serve as the gathering places within the community, which is why sustainability is an important part of what PREIT does every day.
This comes to life in the ways we operate and redevelop our centers, provide dynamic experiences for our guests, conduct business with our partners, engage with our communities and create an engaging work environment for our colleagues.
Our properties are committed to increasing energy efficiency to reduce greenhouse gas emissions, lower our operating costs, as well as decrease overall environmental impact.
We have installed solar arrays on the rooftops of five centers, converting unused roof space into a productive source of energy for our centers.
The systems combined are expected to generate more than 7.7 million kilowatt-hours of green energy per year.
Over 85% of our centers boast white roofs to reduce heat buildup by reflecting more sunlight. White roofs can reduce summer energy use by 10–40%, which allows for the reduction of pollution and help curb climate change.
Peak Demand Monitoring
Over half of our centers utilize peak demand monitors to gauge power usage which allows our properties to increase cost-savings on energy. It also enables our properties to make more efficient use of energy throughout the year.
We have installed efficient LED lighting at over half of our properties. This includes interior LED lighting retrofits, as well as the lighting in our parking lots.
Reduce & Recycle
Sustainable management of waste is crucial to providing environmental, social and economic benefits to current and future generations. We’ve partnered with recycling service providers at several of our properties, and we’re exploring opportunities to expand recycling across our portfolio.
All 19 centers and our corporate office participate in recycling programs:
- 100% recycle cardboard
- Over one third recycle waste (plastic, glass, compost, etc.)
- 75% have clothing collection bins (34 total)
- 90% of properties recycle oil
- Over 100 vendors recycle oil, as well
We encourage our shoppers and employees to reduce their carbon footprint by utilizing alternative means of transportation.
Offering charging stations is another way we reduce our carbon emissions impact on the local environment and benefit the global climate. PREIT’s expanding network of stations currently totals 70 chargers across our properties.
The accessibility to our centers via bus or train makes for a greener commute for all of our guests and employees.
95% of our properties also offer bike racks, with a total of 47 racks across the portfolio.
We take pride in our relationships with our colleagues, tenants, partners, guests and the communities we operate in. We also care deeply about our people and what makes them unique.
We engage with our communities by hosting seasonal, family-friendly events that are free of charge offering mall walker programs, community play spaces and more.
For our associates, we have a variety of programs in place to ensure satisfaction and engagement. We conduct an annual culture survey, recently moved our corporate offices to create a better sense of place and pride and cultivate a more collaborative environment. We ensure our values are upheld through a variety of online compliance courses that can be taken at the convenience of the associate. Visit our People & Culture page to learn more about our unique offerings.
Our properties supported over 100 charitable organizations in 2019 in the amount of $23k. 80% of our properties also allowed at least one charitable organization to use a space within the property, free of charge. During the recent coronavirus pandemic, our teams were encouraged to find ways to prioritize supporting their local communities during a time of need. Read all about how we have leaned into showing support here.
Our Corporate giving program allocated over $275,000 in 2019 and raises awareness for various non-profits through executive participation. In the past year, our executive team has supported key initiatives in integral communities by raising funds for the LEAP Academy and the Philadelphia Police Foundation.
PREIT and our Board of Trustees strive to balance the interests of all stakeholders while ensuring proper and transparent corporate governance.