Energy Efficiency, GHG Emissions, Solar  -  December 21, 2018

Regency achieves 10-year goals in five

Regency Centers Corporation announced it has met a series of 10-year environmental stewardship goals, including increasing energy efficiency and reducing GHG emissions, in five years. The company, a national owner, operator, and developer of shopping centers released its first Corporate Responsibility Report to highlight these achievements.

“Our values, including the critical importance that we place on corporate responsibility, have been and always will be the foundation of who we are and what we do,” said Martin E. “Hap” Stein, Jr., Chairman and CEO, in a statement. “They shape and support our business. Looking forward, we are determined to distinguish ourselves by effectively employing our combination of unequaled strategic advantages to produce superior results that include positive impacts for a better tomorrow.”

Noting that common area lighting represents approximately 90% of Regency’s total energy consumption, and is their largest source of greenhouse gas emissions, the report said that Regency’s biggest opportunity to reduce energy is to replace existing lighting systems with energy efficient LED and wireless control technologies. To date, the company has converted more than 150 of our shopping centers to compliant LED fixtures. “On average, these energy-efficient projects reduce energy use by nearly 60% while also improving property aesthetics and safety.” These lighting efficiency efforts led, in 2017, to a cumulative reduction in energy use of 26.3% since 2011.

In 2017, Regency also reduced Scope 1 and 2 GHG emissions by 33.9% since 2011, having hit their goal of 30% last year. “We are committed to reducing our greenhouse gas emissions – predominantly electricity consumed in the common areas of our portfolio – and supporting our tenants and shopping center customers to reduce theirs. Nearly all of our environmental stewardship initiatives support our vision of a carbon-neutral future.”

The company also reported having solar systems installed at 16 of their shopping centers by the end of 2017, producing approximately 4,600-megawatt hours of clean renewable power each year. The report said, “These solar systems prove that renewable energy can compete with traditional fossil fuels by reducing costs and greenhouse gas emissions, providing benefits to our shareholders, tenants, and communities. Regency is committed to seeking opportunities to further expand the use of renewable energy throughout our portfolio.”