Tanger Advances Towards Long-Term Environmental Goals

Rhea-AI Summary

Tanger Factory Outlet Centers (NYSE: SKT) announced significant sustainability achievements for 2022, advancing its commitment to becoming carbon neutral by 2050. Highlights include investment in renewable energy with the installation of 6.2 MW of solar panels across multiple centers, the addition of 165 electric vehicle charging stations, and progress towards electrifying its operational fleet by 2030. The company also achieved LEED Gold certification for over 50% of its properties and received the WELL Health-Safety Rating for all U.S. centers. These initiatives aim to enhance environmental responsibility and health and safety across its operations.

Positive

• Achieved significant milestones in sustainability for 2022.
• Planned to reach net zero emissions by 2050.
• Installed 6.2 MW of photovoltaic panels, doubling solar capacity.
• Added 165 electric vehicle charging stations, enhancing customer access.
• Achieved LEED Gold certification for over 50% of properties.

Negative

• None.

On a mission to be carbon neutral by 2050, the open-air outlet leader reached numerous sustainability goals for 2022

GREENSBORO, N.C., Jan. 30, 2023 /PRNewswire/ -- In a follow up to its annual ESG report released this past summer, Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is excited to announce significant progress towards its environmental and health and safety goals, reinforcing these priorities as key to its business operations, values and culture.

"I am extraordinarily proud that over the last year Tanger reached several important milestones in its sustainability and resiliency journey. Our teams are committed to ensuring that environmental initiatives are embedded across all parts of the business, as we seek to have a positive impact on the health of our planet and communities," said Leslie Swanson, Executive Vice President and Chief Operating Officer at Tanger. "We have transformed our goals into actions and will continue to innovate and advance towards becoming an industry leader in the space."

In August 2022, Tanger announced its pledge to achieve net zero emissions by 2050 and has been making critical gains towards that goal, hitting several climate change and energy and environmental design milestones over the past year to make its centers more sustainable while positively impacting the communities it serves. Tanger also became a signatory to the United Nations Global Compact in 2022, committing to the adoption of sustainable and socially responsible policies, alignment with the Compact's Ten Principles, and reporting on implementation. Furthermore, Tanger progressed its efforts to create a safe and secure environment across its centers and offices through a focus on preventative actions that include policy and standards for relevant procedures, training and assessments.

Climate Change

Throughout 2022 Tanger strategically invested in renewable energy across its footprint. The company procured 6.2 MW of photovoltaic panels for four new solar system installations in 2022 at its centers in Fort Worth, Texas, San Marcos, Texas, Daytona Beach, Fla., and Westgate, Ariz. Once these panels are fully commissioned by mid-February 2023, the company will have doubled its solar infrastructure.

The company also supported its commitment to emissions reductions by adding 165 electric vehicle charging stations during 2022. As these stations are activated by local utility companies, the company will have more than doubled shoppers' access to free EV charging every time they park at a Tanger center. Furthermore, Tanger made progress towards its goal of electrifying 100% of its operational fleet by 2030 with the purchase of over 30 electric cars and golf carts. 

In the years ahead, Tanger will continue strategically investing in clean energy in order to decarbonize, reduce costs and increase efficiency.

Energy & Environmental Design

Tanger embeds sustainability in all operations and business decisions to minimize its impact on the existing ecosystem. A prime example of this practice is its attainment of the LEED Gold certification at an additional four centers, pushing over 50% of the company's gross leasable area to this certification. LEED certification demonstrates that Tanger's properties use operational best practices across energy, water, waste and transportation.

In addition, Tanger's Savannah, Ga., Grand Rapids, Mich. and Howell, Mich. centers received USGBC Awards last year. This recognition honors projects, organizations and people who have contributed extraordinarily to achieving healthy, energy-efficient green buildings.

The outlet leader also added three urban beehives to its portfolio at its Pittsburgh, Pa., Locust Grove, Ga., and Westgate, Ariz. centers, bringing the total to nine. These additions extend its partnership with Alvéole, helping provide education and awareness on the significance of honeybees as pollinators in a sustainable environment. Each of the nine centers offers beekeeping workshops for both shoppers and employees as well as provides updates on the hives' activities through regular posts on Alvéole's "MyHive" platform.

Health & Safety

With the communities Tanger serves at the heart of every decision, the company has been working diligently to make its properties safe and resilient. In accordance, in 2022, Tanger achieved the International WELL Building Institute's WELL Health-Safety Rating for Facility Operations and Management in all its United States-based centers.

Building on its progress in 2022 tackling climate change, energy and environmental design, and health and safety initiatives, Tanger will strive to propel its work forward and continue to advance towards its goal of reaching net zero emissions by 2050. To learn more about Tanger's ongoing initiatives, visit investors.tangeroutlet.com/corporate-responsibility.

About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of upscale open-air outlet centers that owns (or has an ownership interest in) and/or manages a portfolio of 36 centers with an additional center currently under development. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 13.9 million square feet, leased to over 2,700 stores operated by more than 600 different brand name companies. The Company has more than 42 years of experience in the outlet industry and is a publicly-traded REIT. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the Company's website at tangeroutlets.com. 

Media Contact
Kasie Wilson
KWT Global
Tanger@kwtglobal.com 

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SOURCE Tanger Factory Outlet Centers, Inc.