Tanger Outlets Releases 2021 Environmental, Social and Governance Report

Rhea-AI Summary

Tanger Factory Outlet Centers (NYSE: SKT) has released its sixth annual Environmental, Social and Governance (ESG) Report, showcasing its commitment to integrating ESG principles into its operations. Key highlights include efforts to establish a diverse workforce, support small minority- and women-owned businesses, and enhance employee well-being through improved health benefits. Additionally, the company donated over $740,000 to community charities in 2021 and produced 6.2 million kilowatt hours of solar energy. The report underscores Tanger's dedication to responsible corporate citizenship and sustainable practices.

Positive

• Donated over $740,000 to community charities in 2021.
• Produced 6.2 million kilowatt hours of solar energy.
• Enhanced health and wellness benefits for employees.

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• None.

Industry Leader Continues Its Emphasis on Supporting People, Community and Planet

GREENSBORO, N.C., Aug. 8, 2022 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading operator of upscale, open-air outlet centers, announced today the release of its sixth annual Environmental, Social and Governance (ESG) Report. This report demonstrates Tanger's continued progress in integrating ESG principles into its business practices, addressing the issues most important to its stakeholders and setting goals to create positive social and economic impact while reducing its environmental footprint, all built on a foundation of strong governance. In addition, this year's report highlights Tanger's mission, vision and values – which are based on engagement with its employees and other key stakeholders.

"At Tanger Outlets, our mission is to deliver the best value, experience and opportunity for our communities, stakeholders and partners," said Stephen Yalof, President and Chief Executive Officer of Tanger Outlets. "For more than 41 years, we have been dedicated to creating long-term value. Acting as a responsible corporate citizen is intrinsic to this commitment as we consider our impact on our people, our planet and our communities in every decision we make."

Highlights from the report include:

• Establishing an Inclusive Workforce: Tanger conducted a market-level assessment to analyze workforce demographic makeup at the center level and included focused diversity, equity and inclusion (DEI) questions in its employee pulse surveys. These insights will inform plans to progress diversity and inclusion in the company.
• Building a Diverse Business Community: To enhance opportunities for small minority- and women-owned businesses in its communities, Tanger established a Specialty Leasing Small Business Program, which provides qualified local entrepreneurs with additional support and tools to grow their businesses at Tanger centers.
• Prioritizing Employee Well-being: In 2021, Tanger demonstrated its continued commitment to investing in its employees through enhanced health and wellness benefits that lower employee costs and improve medical coverage and access to care.
• Impacting Tanger Communities: In 2021, Tanger donated over $740,000 to community charities, including 137 grants totaling $150,000 awarded to schools and educational programs across the U.S., and employees contributed over 2,200 company-sponsored volunteer hours across the country.
• Operating Sustainably: Tanger produced nearly 6.2 million kilowatt hours of solar energy and powered over 60,000 electric vehicle charging sessions in 2021. It also completed the transition to LED lighting at 100% of its managed centers and reduced water usage by 5% across its portfolio in 2021 versus a 2019 baseline.
• Managing with Integrity: Tanger reaffirmed its commitment to strong governance principles built on a foundation of integrity and fairness and a belief that diverse perspectives lead to better decision-making.

To learn more about Tanger's ESG strategy and progress, please view the full report at investors.tangeroutlets.com/corporate-responsibility/.

About Tanger Factory Outlet Centers, Inc.
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 37 centers with an additional center currently under development. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.0 million square feet, leased to over 2,700 stores operated by more than 600 different brand name companies. The Company has more than 41 years of experience in the outlet industry and is a publicly-traded REIT.

Investor Relations Contact
Doug McDonald
SVP, Finance and Capital Markets
T: (336) 856-6066
tangerir@tangeroutlets.com 

Media Contact 
Nathaly Martinez
KWT Global
Tanger@kwtglobal.com 

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SOURCE Tanger Factory Outlet Centers, Inc.

FAQ

What did Tanger Factory Outlet Centers (SKT) report in their 2021 ESG report?

Tanger reported significant progress in environmental, social, and governance initiatives, including $740,000 donated to charity and 6.2 million kilowatt hours of solar energy produced.

How has Tanger Factory Outlet Centers (SKT) supported minority-owned businesses?

Tanger established a Specialty Leasing Small Business Program to enhance opportunities for small minority- and women-owned businesses.

What improvements did Tanger make to employee benefits according to the 2021 ESG report?

Tanger enhanced health and wellness benefits to lower employee costs and improve medical coverage and access to care.

What are some key environmental initiatives mentioned in Tanger's 2021 ESG report?

Key initiatives include producing solar energy, transitioning to LED lighting at all managed centers, and reducing water usage by 5%.

What is Tanger's approach to employee diversity according to their 2021 ESG report?

Tanger conducted a workforce demographic assessment and included diversity questions in employee surveys to enhance diversity and inclusion efforts.