NEW YORK--(BUSINESS WIRE)--Urban Edge Properties (NYSE:UE) announced today that it has issued its first annual Environmental, Social, and Governance (“ESG”) Report outlining the company’s ESG strategies, policies, and environmental performance metrics. The ESG Report also highlights the approach and progress made on a number of key initiatives addressed during the past year. The full report can be found in the investors section of our website: 2020 ESG Report.
“Our ESG goals reflect our commitment to improve the environment, foster strong relationships with our employees and tenants and maintain high levels of transparency and governance standards,” said Jeff Olson, Chairman and CEO. “We’re excited to showcase our progress in our inaugural ESG report and look forward to providing updates as we advance our efforts in the future.”
Highlights of the 2020 ESG Report include:
Environmental:
Since our inception in 2015, Urban Edge has focused on improving the operational and energy efficiency of our properties including:
- Replacing 4 million square feet of black roofs with energy-efficient white reflective roofing membranes
- Replacing inefficient parking lot lighting with energy efficient LED fixtures at more than 40 properties
- Utilizing a photovoltaic (solar cell) system capable of producing one-megawatt of power at our largest property, Bergen Town Center
Social:
Urban Edge has actively participated in social programs that support its ongoing commitment to its stakeholders including the following:
- Since 2015, Urban Edge employees have contributed both time and financial resources generating $600,000 of donations to charitable organizations including company matched contributions
- In 2020, Urban Edge employees raised more than $53,000 for 14 charitable initiatives in communities served by Urban Edge, including RAP4Bronx, food donation drives helping front-line workers at various hospitals and holding fundraising events for an orphanage in Puerto Rico
- Urban Edge provides its employees with monthly Health and Wellness Programs including seminars that focus on financial, emotional, physical, and community wellness
Governance:
To further its commitment to leading governance practices, the Company:
- Established an ESG Steering Committee to integrate performance strategies and policies across our portfolio to further enhance and improve all aspects of the organization’s ESG programs
- Urban Edge plans to make annual data submissions to GRESB, aligning disclosures with SASB, TCFD and GRI as benchmarks
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 77 properties totaling 16.2 million square feet of gross leasable area.
