Retail REIT SITE Centers Focused on Increasing Sustainability Engagement with Stakeholders

Joe Lopez, senior vice president of operations at SITE Centers Corp. (NYSE: SITC), participated in a video interview at Nareit’s ESG Forum 2019 at the Hyatt Regency Coconut Point in Bonita Springs, Florida.

SITE Centers, formerly known as DDR Corp., rebranded in October 2018.

“We have a fresh new brand, a new energy, and we have a renewed focus on driving sustainability and environmental and financial returns,” Lopez said.

In terms of the steps SITE Centers is taking to achieve its sustainability objectives, Lopez noted that 93 percent of the portfolio under management has some level of building efficiency control. Last year, SITE Centers also initiated its comprehensive LED retrofit program. Other steps taken include a pilot program with Waymo, Google’s self-driving car project, in Phoenix.

Looking ahead, Lopez said engaging with the company’s various stakeholders on sustainability matters is “really the big push right now.” He noted that initially, sustainability efforts were focused on an individual asset basis. Now, those efforts incorporate tenants, shareholders, investors, and rating agencies.

“Without the connection to the people, it’s really difficult to maximize returns to the shareholder,” Lopez said.

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