Regency Centers Issues Annual Corporate Responsibility Report

Rhea-AI Summary

Regency Centers Corporation (NASDAQ: REG) has released its annual Corporate Responsibility Report, emphasizing its commitment to corporate responsibility and key ESG initiatives. CEO Lisa Palmer highlighted Regency's focus on employee and community well-being, especially during the COVID-19 pandemic and in addressing social justice issues. The report showcases achievements in workforce diversity, community contributions of approximately $1.4M, and environmental stewardship, including greenhouse gas emissions reduction. Regency aims for an employee engagement score of over 85% and maintains high ethical governance standards.

Positive

• Achieved employee engagement score of 85% or greater.
• Contributed approximately $1.4M to charitable causes.
• Enhanced leases to include green clauses.
• Reduced greenhouse gas emissions by 9% and energy consumption by 6%.
• Awarded a GRESB Green Star for the fifth consecutive year.

Negative

• None.

JACKSONVILLE, Fla., June 11, 2020 (GLOBE NEWSWIRE) -- Today, Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ: REG) announced the release of its annual Corporate Responsibility Report. The report illustrates Regency’s continued commitment to corporate responsibility and key environmental, social, and governance initiatives and achievements. A copy of the full report can be found on Regency’s Corporate Responsibility site.

“Our commitment to corporate responsibility is rooted in our founding core values. These values serve as the guiding principles for how we do business, holding ourselves to a high standard every day, including in today’s uncertain environment,” said Lisa Palmer, President and Chief Executive Officer. “Throughout the disruptions resulting from the recent COVID-19 pandemic, Regency has maintained our commitment to doing all that we can to ensure the well-being of our team members, tenants, and the communities that our properties serve. Additionally, the recent disturbing events resulting in calls for action have made it very clear that we all must address the issues of social injustice and systemic racism. Regency is committed to being part of a necessary change to make our society more just and equal.”

Regency’s annual Corporate Responsibility Report provides updated data, progress on goal achievement, and the actions it is taking to further the diversity of our workforce and protect and promote basic human rights. In addition, it contains information aligned with the UN Sustainable Development Goals (UNSDG), the Sustainability Accounting Standards Board (SASB), Taskforce on Climate-related Financial Disclosures (TCFD), and Global Reporting Initiative (GRI) standards and frameworks, implementing best practice in corporate responsibility reporting. The report also highlights the Company’s annual achievements and continued commitment to its corporate responsibility pillars: Our People, Our Communities, Ethics and Governance, and Environmental Stewardship. In 2019, key achievements include the following:

Our People

Regency aims to maintain a high level of employee engagement with an overall engagement score of 85% or greater while continuing to maintain our award-winning benefits and wellness plans, and enhance our focus on diversity initiatives.

• Achieved our employee engagement goal of employee engagement of 85% or greater
• Received the First Coast Healthiest Companies Award for the 11^th consecutive year
• Provided over 10,000 hours of employee training and continuing education and ensured 100% of employees received regular performance and career development reviews
• Developed a Human Rights Policy

Our Communities

Adhering to Regency’s core values and culture, the Company strives to contribute to the betterment of its communities through a high level of community engagement, and investments in its communities, including philanthropic efforts.

• Approximately $1.4M contributed to charitable causes
• More than 75% of employees participated in Company-sponsored volunteer opportunities
• Developed a new program to allow employees the opportunity to participate in selecting recipients for corporate contributions, enabling them to direct assistance to a cause that is important to them and makes a difference in Regency’s communities
• Introduced an investment reporting process to better understand the positive community impacts of its developments and redevelopments

Ethics and Governance

Regency’s objective is to maintain best-in-class corporate governance with adherence to the highest ethical behavior and corporate oversight while continuing to achieve the highest overall scores from leading shareholder advisory firms.

• Recognized as a winning “W” company by 2020 Women on Boards for having more than 20% of its Board seats held by women
• Achieved top ISS Governance Quality Score of 1
• Developed vendor and contractor management tools to help them adhere to the same high standards of the Company

Environmental Stewardship

Regency focuses on six strategic priorities to identify and implement sustainable business practices and to minimize our environmental impact: green building, energy efficiency, greenhouse gas emissions reductions, water conservation, waste management, and climate resilience.

• Awarded a GRESB Green Star for the fifth consecutive year
• Enhanced leases to include green clauses
• Exceeded annual goals by reducing greenhouse gas emissions by 9%, reducing energy consumption by 6%, and increasing waste diversion by 3%
• Expanded renewable energy produced to approximately 5,900-megawatt hours through power generation from 30 systems at 22 properties

About Regency Centers Corporation (NASDAQ: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

Our operations are subject to a number of risks and uncertainties. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC, which provide much more information and detail on our business.

Laura Clark
904 598 7831
LauraClark@RegencyCenters.com

FAQ

What is the recent Corporate Responsibility Report released by Regency Centers Corporation?

The report outlines Regency's commitment to corporate responsibility, highlighting environmental, social, and governance initiatives and achievements.

How much did Regency Centers contribute to charitable causes in 2019?

Regency Centers contributed approximately $1.4 million to charitable causes in 2019.

What sustainability achievements did Regency Centers report in 2019?

Regency reduced greenhouse gas emissions by 9%, energy consumption by 6%, and was awarded a GRESB Green Star for the fifth consecutive year.

What is Regency's employee engagement goal?

Regency aims to maintain an employee engagement score of 85% or greater.

What initiatives does Regency Centers have for diversity and inclusion?

Regency is focusing on enhancing workforce diversity and has developed a Human Rights Policy to protect and promote basic human rights.