Both Bitcoin and Online Shopping Are Poor for the Environment

Rhea-AI Summary

Simon Property Group (NYSE: SPG) addresses the environmental impact of both Bitcoin mining and online shopping. The company emphasizes that in-store shopping is a more sustainable option, claiming that shoppers can help the environment by choosing local retail outlets. Simon has reduced its carbon footprint by over 50% since 2003 and plans to lower emissions by an additional 68% by 2035. The company also highlights initiatives such as increased EV charging stations and solar energy systems aimed at promoting sustainability.

Positive

• Reduced carbon footprint by over 50% since 2003; 32% since 2013.
• Water consumption reduced by 18.5% since 2013.
• Increased EV stations from 400 in 2017 to 995 in 2020.
• Installed 10 solar PV systems generating over 2M kWh of clean energy.
• Plans to reduce carbon emissions by 68% by 2035.

Negative

• None.

INDIANAPOLIS, May 13, 2021 /PRNewswire/ -- Bitcoin mining and online shopping are both having a negative impact on the environment.

"Recent news coverage highlighted the adverse impact of Bitcoin mining on the environment," said John Rulli, Chief Adminstrative Officer, Simon. "We want to take this opportunity to reinforce that online shopping is also negatively impacting the environment. Where you shop matters. Stores are the most sustainably friendly option in retail, and shoppers can help the environment by doing what they like best—shopping with friends and family at the favorite shopping center."

Simon is committed to protecting the environment and has substantially reduced its overall carbon footprint.

• Reduced our carbon footprint by over 50 percent (2003-2019); by 32 percent since 2013
• Reduced water consumption by 18.5 percent since 2013
• Executing recycling programs at all centers
• More than doubled our EV stations from 400 (2017) to 995 (2020) EV Stations
• Installed 10 onsite solar PV renewable energy systems providing over 2M kWh (2000 mWh) of clean energy

And, as part of its ongoing sustainability efforts, Simon has set goals to lower its carbon emissions an incremental 68 percent by 2035 (vs. 2019).

For more information on Simon's sustainability initiatives and the environmental benefits of shopping in store, click here. 

About Simon
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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SOURCE Simon

FAQ

What is the environmental impact of Simon Property Group's operations?

Simon Property Group has reduced its carbon footprint by over 50% since 2003 and aims for a 68% reduction by 2035.

How many EV charging stations does Simon Property Group have?

As of 2020, Simon Property Group has increased its EV charging stations to 995.

What initiatives has Simon implemented for sustainability?

Simon has executed recycling programs and installed solar energy systems providing over 2M kWh of clean energy.

What are Simon Property Group's goals for water consumption?

The company has reduced water consumption by 18.5% since 2013.