Urban Edge Properties Announces Release of 2023 Corporate Responsibility Report

Rhea-AI Summary

Urban Edge Properties (NYSE: UE) has released its 2023 Corporate Responsibility Report, highlighting significant achievements in sustainability and community initiatives. Key accomplishments include a 33% reduction in Scope 1 and 2 greenhouse gas emissions, surpassing their short-term goal ahead of schedule, and a 31% reduction in water consumption compared to 2022. The report also mentions upgrades to LED lighting in all landlord-controlled parking lots, formation of the UE Cares Committee for community engagement, partnership with the 988 Suicide & Crisis Lifeline, and receiving the Cigna Gold Level Healthy Workforce Designation. Additionally, the company has completed a Board refreshment process to enhance leadership diversity and expertise.

Positive

• 33% reduction in Scope 1 and 2 greenhouse gas emissions, surpassing the goal ahead of schedule.
• 31% reduction in water consumption compared to 2022.
• Upgraded to energy-efficient LED lighting in 100% of landlord-controlled parking lots.
• Completed Board refreshment process for diverse and balanced leadership.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Urban Edge Properties (NYSE: UE) today announced that it has issued its 2023 Corporate Responsibility Report which can be found on the Corporate Responsibility page of our website.

Highlights of Urban Edge’s 2023 Corporate Responsibility program include:

• Reported a 33% reduction of scope 1 and 2 greenhouse gas emissions, achieving our short-term goal of a 30% reduction one year ahead of schedule, as compared to a 2015 base year;
• Reduced water consumption at landlord-controlled properties by 92,000 cubic meters, representing a 31% reduction in usage as compared to 2022;
• Upgraded our parking lots with energy-efficient LED lighting at 100% of landlord-controlled properties, improving lighting performance and reducing utility and maintenance costs;
• Formed the UE Cares Committee, an employee led initiative to give back to our local communities through volunteer efforts with various organizations including food banks, community clean-ups and collection drives;
• Partnered with industry peers and the 988 Suicide & Crisis Lifeline in the “Signs of HOPE” campaign to increase awareness of emotional support services;
• Awarded the Cigna Gold Level Healthy Workforce Designation, demonstrating our commitment to employee health and well-being; and
• Completed our Board refreshment process resulting in more diverse and well-balanced leadership that provides fresh perspectives and a broad range of expertise.

“We are committed to continuous improvement in all aspects of our operations and remain dedicated to generating favorable outcomes for all our stakeholders, especially the communities we serve,” noted Jeff Olson, Chairman and CEO. “We look forward to building on the outstanding platform we have in place in the years ahead.”

ABOUT URBAN EDGE PROPERTIES

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 76 properties totaling 17.4 million square feet of gross leasable area.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626875818/en/

Mark Langer, EVP and Chief Financial Officer

212-956-2556

Source: Urban Edge Properties

FAQ

What are the key highlights of Urban Edge's 2023 Corporate Responsibility Report?

Urban Edge's 2023 Corporate Responsibility Report highlights a 33% reduction in greenhouse gas emissions, a 31% reduction in water consumption, and upgrades to LED lighting in parking lots, among other achievements.

How much did Urban Edge reduce its water consumption in 2023?

Urban Edge reduced its water consumption by 31% in 2023 compared to the previous year.

What sustainability initiatives did Urban Edge implement in 2023?

In 2023, Urban Edge reduced greenhouse gas emissions by 33%, cut water usage by 31%, and upgraded parking lot lighting to energy-efficient LEDs.

What award did Urban Edge receive for employee health and well-being in 2023?

Urban Edge received the Cigna Gold Level Healthy Workforce Designation in 2023.

How did Urban Edge improve its Board leadership in 2023?

Urban Edge completed a Board refreshment process in 2023, resulting in more diverse and well-balanced leadership.

What community initiatives did Urban Edge participate in during 2023?

Urban Edge formed the UE Cares Committee, partnered with the 988 Suicide & Crisis Lifeline, and engaged in various community volunteer efforts in 2023.