In 2024, Simon Property Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Simon Property Group has also provided a category-level breakdown for 6 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 15,876a | 21,900a | 22,601b | |
Total Scope 2 | ||||
Market-Based | 43,627a | 79,996a | 107,481b | |
Location-Based | 150,475a | 152,733a | 174,274b | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 880,396a | 954,176a | 973,124b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 2.6621a | 3.8701a | 4.2712b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Simon Property Group amounted to 166,351 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Simon Property Group decreased by 4.74%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Simon Property Group were 15,876 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Simon Property Group's Scope 1 emissions have increased by 125.22%, reflecting a rising long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2023), Simon Property Group's Scope 1 emissions decreased by 27.51%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Simon Property Group reported Scope 2 greenhouse gas (GHG) emissions of 43,627 tCO₂e using the market-based method and 150,475 tCO₂e using the location-based method.a
Compared to the previous year (2023), Simon Property Group's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Simon Property Group's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Simon Property Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Simon Property Group reported 880,396 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Simon Property Group includes a breakdown across 6 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Simon Property Group reported total Scope 3 emissions of 880,396 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 11.46% of these emissions originated from upstream activities such as purchased goods and capital goods, while 88.54% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Simon Property Group's Scope 3 emissionshave remained relatively stable, indicating that Simon Property Group's emissions have plateaued with no significant change in its value chain footprint.ac
Compared to the previous year (2023), Simon Property Group's Scope 3 emissions remained relatively stable, indicating that Simon Property Group's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Simon Property Group reported emissions for 6 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Simon Property Group's Scope 3 emissions were:a
In 2024, Simon Property Group reported Scope 1 greenhouse gas (GHG) emissions of 15,876 tCO₂e and total revenues of USD 5,964 millions. This translates into an emissions intensity of 2.66 tCO₂e per millions USD.a
In 2024, Simon Property Group reported a Scope 1 emissions intensity of 2.66 tCO₂e per millions USD. Compared to the peer group median of 4.4, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Simon Property Group ranked 8 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Simon Property Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Simon Property Group reported a total carbon footprint of 1,046,747 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 7.27% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Simon Property Group's total carbon footprint was Scope 3 emissions, accounting for 84.11% of the company's total carbon footprint, followed by Scope 2 emissions at 14.38%.a