Tanger Outlets Releases 2019 Corporate Responsibility Report

Rhea-AI Summary

Tanger Factory Outlet Centers (NYSE: SKT) has published its 2019 Corporate Responsibility Report, showcasing significant achievements in environmental, social, and governance (ESG) practices. Key highlights include a 5.7% reduction in greenhouse gas emissions at stable centers and an 11.4% decrease since 2016. Over 30% of its centers have received LEED Gold certification. The company reported that women represent 87% of field employees and 53% of the Executive Leadership Team. In charitable initiatives, Tanger contributed over $1.2 million in 2019, totaling more than $20.4 million since 1994.

Positive

• 5.7% decrease in greenhouse gas emissions at stable centers compared to 2018.
• 11.4% reduction in GHG emissions since 2016.
• More than 30% of Tanger's centers achieved LEED Gold certification.
• 87% of field employees are women, enhancing gender diversity.
• 53% of the Executive Leadership Team are women.

Negative

• None.

GREENSBORO, N.C., Oct. 19, 2020 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leader in the outlet industry, today released its 2019 Tanger Corporate Responsibility Report, which highlights the company's efforts, accomplishments, and performance in relation to environmental, social and governance (ESG) matters.

The 2019 Tanger Corporate Responsibility Report provides an overview of the company's approach to the environment, community engagement, and developing a diverse, collaborative, and entrepreneurial workplace for its employees.

The Report found Tanger's environmental efforts in 2019 resulted in a 5.7% decrease in greenhouse gas (GHG) emissions at stable centers compared to 2018, with an overall reduction in GHG emissions of 11.4% since 2016. More than 30% of Tanger's centers have now achieved LEED Gold certification. Additionally, the Report reviewed the company's gender diversity, finding women comprised 87% of field employees and 53% of Tanger's Executive Leadership Team, as of December 2019.

"Tanger actively embraces corporate responsibility," said Steven B. Tanger, Chief Executive Officer of Tanger Outlets. "Our practices reflect our culture, demonstrate resilience, and focus on long-term value creation for all of our stakeholders, including shareholders, retail partners, employee team members, customers and community partners."

The Report also outlines Tanger Outlets' 2019 charitable giving and efforts to address the 2020 COVID-19 pandemic to keep shoppers and employees safe. Through the TangerCARES program, the company contributed over $1.2 million to charitable causes in 2019, with a cumulative total of more than $20.4 million since 1994.

To learn more about the Company's corporate responsibility strategy and progress, please view the full 2019 Tanger Corporate Responsibility Report.

About Tanger Factory Outlet Centers, Inc.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 38 upscale outlet shopping centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores which are operated by more than 500 different brand name companies. The Company has more than 39 years of experience in the outlet industry. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the Company's website at www.tangeroutlets.com.

CONTACT: Quentin Pell, VP of Corporate Communications and Enterprise Risk Management, quentin.pell@tangeroutlets.com

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SOURCE Tanger Factory Outlet Centers, Inc.

FAQ

What were the key findings of Tanger Factory Outlet Centers' 2019 Corporate Responsibility Report?

The report highlighted a 5.7% decrease in greenhouse gas emissions, gender diversity with women making up 87% of field employees, and over $1.2 million contributed to charitable causes.

How much has Tanger contributed to charitable causes since 1994?

Tanger Factory Outlet Centers has contributed a cumulative total of over $20.4 million to charitable causes since 1994.

What is the significance of LEED Gold certification for Tanger's centers?

LEED Gold certification indicates that more than 30% of Tanger's centers are recognized for their sustainable building practices and environmental performance.

What percentage of Tanger's Executive Leadership Team is comprised of women?

Women make up 53% of Tanger's Executive Leadership Team, promoting gender diversity within the company.