Phillips Edison & Company Issues Annual Corporate Social Responsibility Report

Rhea-AI Summary

Phillips Edison & Company, Inc. (NASDAQ: PECO) has released its 2020 Corporate Social Responsibility (CSR) report, highlighting its commitment to environmental sustainability, community involvement, and employee engagement. Key accomplishments include being named a Top Place to Work for four consecutive years, achieving a 91% employee pride score, and launching PECO Connect to support tenants during COVID-19. The company also reported significant energy savings through environmental initiatives, recycling over 27.2 million pounds of waste, and enhancing diversity efforts within the organization.

Positive

• Named a Top Place to Work for four consecutive years.
• Achieved a 91% employee pride score, exceeding the national average.
• Launched PECO Connect to support tenants during COVID-19.
• Saved 7.2 million kilowatt hours through energy-efficient upgrades.
• Recycled over 27.2 million pounds of waste, saving 188,221 trees.
• Tripled the number of women in executive roles via PECO NOW initiative.

Negative

• None.

CINCINNATI--(BUSINESS WIRE)-- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored omni-channel neighborhood shopping centers, today released its annual corporate social responsibility (“CSR”) report for the 2020 calendar year. The report details the comprehensive CSR initiatives PECO is undertaking across various categories, including environmental responsibility, community involvement, diversity and inclusion, and associate engagement.

“The challenges of navigating a global pandemic have served to reinforce our commitment to ESG and functioning as a responsible corporate citizen in the communities we serve – these are critical efforts that create value for all our stakeholders,” said Jeff Edison, chairman and CEO of PECO. “I’m especially proud of the PECO team for mobilizing quickly to establish programs and introduce creative solutions to support our Neighbors, customers and each other during a time of uncertainty. We continue to make significant progress evolving our longstanding CSR initiatives, which delivered results across the board. This is a clear example of how our culture of teamwork and innovation can make a difference, and we remain committed to advancing these efforts.”

Key CSR accomplishments include:

• Named a Top Place to Work by Enquirer Media for the fourth straight year.
• Scored highly on its annual engagement survey, with 91 percent of associates reporting pride in telling people where they work, compared to the 80 percent national average noted by Qualtrics XM.
• Introduced PECO Connect^TM to help Neighbors (what PECO calls its tenants) withstand COVID-19 shutdowns and disruption. PECO Connect^TM included the Front Row to Go^© curbside pickup program, a Neighbor Rewards Program, webinars, printable signage and more.
• Activated parking lots and storefronts to serve as COVID-19 testing and/or vaccine facilities.
• Amplified diversity and inclusion efforts via the associate-led PECO MORE (Multicultural Opportunities, Resources and Education) initiative, leveraging internal marketing and events to raise awareness of and sensitivity to important related topics such as implicit bias.
• Advanced initiatives to promote gender equality via the associate-led PECO NOW (Networking Opportunities for Women) program. Since inception, this group’s efforts have helped to triple the number of women in executive roles at PECO.
• Established a Governance, Risk and Compliance Working Group (“GRC Working Group”) to promote better collaboration and efficiency among the various functional teams within PECO that focus on the broad issues of corporate governance, enterprise risk management, and ethics and compliance.
• Hosted six wellness challenges for associates in 2020, with a core focus on supporting associate mental health during the pandemic, earning recognition as one of the Healthiest Employers in Ohio by Healthiest Employers.
• Continued to advance environmental sustainability initiatives, including:
  • Saved 7.2 million kilowatt hours through exterior lighting upgrades, representing energy reduction of 82.4 percent. Interior lighting upgrades have reduced usage by 5.1 million kilowatt hours annually.
  • Upgraded 2,360 tons of HVAC at 146 centers, generating $2,456,200 in savings.
  • Installed a total of 11.15 million square feet of new white TPO (thermoplastic polyolefin roofing) projects.
  • Recycled more than 27.2 million pounds, diverting 33 percent of waste and construction material from landfills and equating to over 188,221 trees saved.
  • Installed 36 electric vehicle charging stations, for a total of 186 stations portfolio-wide.

The full report is available for download by clicking here.

About Phillips Edison & Company

Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”) is one of the nation’s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons, and Ahold Delhaize. As of June 30, 2021, PECO manages 294 shopping centers, including 272 wholly-owned centers comprising approximately 31 million square feet across 31 states, and 22 shopping centers owned in two institutional joint ventures. PECO is exclusively focused on creating great omni-channel grocery-anchored shopping experiences and improving communities, one shopping center at a time. For more information, please visit www.phillipsedison.com.

PECO uses, and intends to continue to use, its Investors website, which can be found at www.phillipsedison.com/investors, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005148/en/

Cherilyn Megill

Phillips Edison & Company

801-415-4373

cmegill@phillipsedison.com

Megan Kivlehan

ICR

646-677-1807

pecopr@icrinc.com

Source: Phillips Edison & Company, Inc.

FAQ

What are the key highlights from Phillips Edison & Company's 2020 CSR report?

The 2020 CSR report highlights include recognition as a Top Place to Work, a high employee pride score, and significant environmental sustainability efforts.

How did Phillips Edison & Company support its tenants during the COVID-19 pandemic?

PECO introduced PECO Connect, offering curbside pickup, a rewards program, and other resources to help tenants during the pandemic.

What environmental initiatives did Phillips Edison & Company achieve in 2020?

PECO saved 7.2 million kilowatt hours through energy-efficient upgrades and recycled over 27.2 million pounds of waste.

What diversity programs are in place at Phillips Edison & Company?

PECO has initiatives like PECO MORE and PECO NOW to promote diversity, inclusivity, and gender equality among associates.

How many shopping centers does Phillips Edison & Company manage?

As of June 30, 2021, PECO manages 294 shopping centers, comprising approximately 31 million square feet across 31 states.