BRIXMOR PROPERTY GROUP ISSUES ANNUAL CORPORATE RESPONSIBILITY REPORT
NEW YORK, July 5, 2023 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today the release of its fifth annual Corporate Responsibility (CR) Report, which provides a comprehensive overview of the Company's strategy to improve the environmental, social, and economic well-being of its stakeholders, as well as measurements and case studies that highlight Brixmor's progress with respect to its CR goals.
"ESG principles align with our core values, our vision, and our mission, and they inform every decision we make at Brixmor," stated James Taylor, Chief Executive Officer and President. "Our latest CR Report demonstrates the progress we have continued to make toward our ESG goals in every area of our business. By integrating ESG throughout our organization, we ensure that we are creating and maintaining shopping centers that deliver sustainable growth and value to all stakeholders."
Notable 2022 achievements in each of Brixmor's Corporate Responsibility pillars included:
Our Culture:
Strong results in the 2022 employee engagement survey, with 99% of employees indicating job satisfaction and pride in working for Brixmor
Continued progress in support of Diversity, Equity, and Inclusion initiatives, with an emphasis on inclusive recruitment and early career development; employee engagement, mentorship, and education; and enhanced transparency and accountability
An average gender pay gap of zero for the third consecutive year
Executive bonuses linked directly to the achievement of individual ESG goals
The highest score of "1" from ISS's Governance QualityScore, which reviews corporate governance quality and risk across four categories: Board Structure, Compensation, Shareholder Rights, and Audit & Risk Oversight
Our Properties:
A 40.3% reduction Scope 1 and 2 greenhouse gas emissions compared to the 2018 baseline year, up from a 39.7% reduction, as of December 31, 2022
An increase in on-site renewable energy systems to a total capacity of 10.3 MW of capacity, up from 7.6 MW, as of December 31, 2022
The conversion of 95% of the Company's portfolio to LED lighting, up from 90% of the portfolio, as of December 31, 2022
"Proudly Owned by Brixmor" designation at 45% of properties, up from 33%, as of December 31, 2022
Our Stakeholders:
The stabilization of approximately $872M of reinvestment projects since January 1, 2016, up from $692M, as of December 31, 2022
Sustained strong results in the 2022 tenant engagement survey, with 71% of overall tenant respondents reporting that they would recommend Brixmor as a landlord
More than 3,200 hours of employee volunteer service in Brixmor's communities
To learn more and read the entire CR report, please visit https://www.brixmor.com/corporate-responsibility.
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ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 367 retail centers comprise approximately 65 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to over 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.
Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.
SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in our Form 10-K for the year ended December 31, 2022 and in this report, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; and (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, and taxes. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our other periodic filings. The forward-looking statements speak only as of the date of this report, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.
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SOURCE Brixmor Property Group Inc.
