Jeffrey S. Edison
Chairman & CEO
Over the years, we have seen many trends come and go, but our discipline of staying focused on our business strategy, living our Core Values, building a strong corporate culture, and maximizing operating efficiencies has been fundamental to our tremendous growth and exceptional results.
We see our unique position as a leading owner and operator of real estate as an opportunity to not only create value for our shareholders but to create positive impacts locally and globally. We will continue to engage with all our stakeholders in an honest, transparent, and meaningful manner as we push forward to a healthy, sustainable, bright future.
Our Strategy
The Four Pillars of PECO’s
Corporate Responsibility and Sustainability Program
PEOPLE & CULTURE
PECO Cultural Advantage (PECO XP)
Ownership Mindset
Transparency & Communication
Engagement & Retention
Health, Wellness & Benefits
Learning
Career Development
Space For AllTM
Recognition
ENVIRONMENTAL MANAGEMENT
Maximizing Resources Efficiencies & Mitigating Impact of Risks
Greenhouse Gas Emissions
Resource Efficiency
Renewable Energy
Water Conservation
Waste Management
Building Certifications
Data Management
Climate Risk Assessment
COMMUNITY
Improving Our Communities, One Shopping Center at a Time
Supporting Local Entrepreneurs
Connecting Residents to Necessity-Based Goods & Services
Providing Jobs & Opportunities for Social Connection
Enhancing Community through Re/Development Projects
Creating Significant Economic Impact
OVERSIGHT
& ETHICS
Strong Corporate Governance
Culture of Integrity & Ethical Conduct
Relationship of Trust & Respect with Stakeholders
Sound & Ethical Decision-Making
Internal Control Frameworks
Independent Oversight & Review
Enterprise Risk Management & Mitigation
Transparent Reporting
Regular Engagement with Stakeholders
Our Core Values
ALWAYS KEEPLEARNING.
THINGS CONSTANTLY CHANGE, AND THE BEST WAY TO BE SUCCESSFUL IS THROUGH CONSTANTLY LEARNING.
THINK BIG. ACTSMALL.
WE HAVE BIG DREAMS AND GOALS THAT WE’LL ACHIEVE BY WORKING TOGETHER AS A FAMILY AND PRESERVING OUR SMALL COMPANY MENTALITY.
HAVE FUN& GET
IT DONE.
WE KNOW WHEN IT’S TIME TO WORK HARD AND WORK SMART, BUT MOST IMPORTANTLY WE KNOW WHEN IT’S TIME TO HAVE FUN!
DO THERIGHT
THING.
WE DO THE RIGHT THING, EVEN IF IT ISN’T ALWAYS THE EASY THING.
2023 Corporate Responsibility & Sustainability Report DOWNLOAD
2023 Report Highlights
51% of associates are female
6% turnover rate
92% engagement rate on Associate Engagement Survey with a 97% completion rate
4,592 training hours averages 15.72 hours per associate
7 consecutive years of a "Top Place to Work" recognition
98% eligible properties converted to LED
56% of properties have IREM CSP certifications
10% Scope 1 & 2 GHG emissions reduction since 2022
184 EV charging stations, a 19.6% increase since 2022
18% reduction of water since 2022
20% landlord-controlled waste diversion
443 community service hours completed by associates with 15 community service events
$11M+ invested in local Neighbors through landlord work and tenant allowance improvements
$34M+ invested in 13 re/development projects
engaged independent implementation expert for Neighbor Survey
96% overall satisfaction Neighbor Survey Results
56% gender and ethnically diverse directors
6 years
average director tenure
57 average age of directors
100% board member attendance at Board and Committee Meetings
96% associates completed cybersecurity training
0 Ethics Code
violations
2023 Organizational Goals
Goal: Achieve Associate Engagement Survey Participation Rate
Target: 85% or greater
Goal: Maintain Associate Engagement Index Score
Target: 85% or greater
Goal: Maintain Voluntary Turnover Rate
Target: Below 15%
Goal: Average Annual Training Hours per Associate
Target: 15 hours or greater
Goal: Participation in Wellness Programs (one or more programs annually)
Target: 60% or greater
Goal: Upgrade Landlord Controlled Parking Lot Lighting to LED
Target: 100% of properties by 2025
Goal: Reduce Landlord Controlled Waste to Landfills1
Target: 25% reduction by 2030
Goal: Install EV Charging Stations
Target: 50% of eligible properties by 2030
Goal: Reduce Landlord Controlled Water Consumption
Target: 30% reduction by 2030
1Excludes waste generated from construction or redevelopment.
Goal: Associate Support for Phil-anthropic Efforts (PECO Impact)
Target: 10 community service events or more
Goal: Include Green Lease language in new leases
Target: 50% or greater of executed leases
Goal: Conduct Neighbor Satisfaction Survey
Target: 85% satisfaction rate or greater
Goal: Conduct Vendor Engagement Survey
Target: Bi-annual process
Goal: Acknowledgment of Code of Business Conduct and Ethics
Target: 100% of associates annually
Goal: Annual Ethics and Cybersecurity Training
Target: 100% of associates annually
Goal: Attendance at Board of Directors and Committee Meetings
Target: 75% or greater for directors
Goal: Attendance at Annual Meeting of Stockholders
Target: 75% or greater for directors
For additional information, contact:
RYAN KNUDSON
Vice President of Corporate Responsibility and Sustainability
crs@phillipsedison.com
