sustainability - General Growth Properties

Transcription

sustainability - General Growth Properties
SUSTAINABILITY
2014
CONTENTS
TABLE OF CONTENTS
PAGE 2
CEO MESSAGE
PAGE 3
WHO WE ARE
PAGE 5
ABOUT THIS REPORT
PAGE 7
CARING ABOUT THE ENVIRONMENT
PAGE 8
SUSTAINABLE OPERATIONS AND EFFICIENCIES
PAGE 12
DEVELOPMENT & PROPERTY MANAGEMENT
PAGE 14
COMMUNITY ENGAGEMENT
PAGE 18
WORKPLACE
PAGE 20
AWARDS
PAGE 26
CONTACT
PAGE 27
PORTFOLIO
PAGE 29
GRI DISCLOSURE INDEX
PAGE 30
2 | GENERAL GROWTH PROPERTIES, INC.
SUSTAINABILITY
At GGP, sustainabilit y is not an “initiative,” but
a core component in our day-to-day operations.
Our sustainability efforts have a strategic benefit
to our core audiences: Communities, Retailers,
Employees, Consumers and Shareholders (CRECS).
We do not implement these measures to garner
media coverage or because they might be trendy.
They are carried out only because they are the
right thing to do and provide operational benefits.
Sustainability, at its core, is about making our
communities better places to live, work and
play for both current and future generations.
Our charitable focus is on education. We believe
if you provide children with the oppor tunities
to d i s cove r t h e l ove of e d u ca t i o n, yo u a re
ensuring they have a great future. This is why we
have partnered with DonorsChoose.org for the
past three years.
At The Shops at La Cantera in San Antonio, Texas,
water condensation is recycled to fill the mall’s
fountains and summertime misters. The solar
panels installed at our New Jersey malls remain
one of our most cost-beneficial sustainability
initiatives, providing 11% of each mall’s respective
energy each year. Although we are committed to
exploring new initiatives and processes that lower
our carbon footprint, we believe Sustainability
is not limited to environmental initiatives.
I am also proud to share with you that this year’s
G G P S u s ta i n a b i l i t y Re p o r t n ow fo l l ows t h e
guidelines of the Global Reporting Initiative
(GRI). The goal of GRI mirrors GGP’s commitment
to marry profitability with ethical behavior, social
justice and environmental stewardship.
I’ve often said GGP is not only a steward of your
faith and trust, but also of the environment and its
resources. The initiatives we are undertaking and
those we will explore are at the heart of the GGP
Mission of providing an outstanding experience
and environment for our communities, retailers,
employees, consumers and shareholders.
Sincerely,
Sandeep Mathrani
Chief Executive Officer
General Growth Properties, Inc.
2014 SUSTAINABILITY REPORT | 3
Our mission is to own and
operate best-in-class retail
properties that provide an
outstanding environment
and experience for our
Communities, Retailers,
Employees, Consumers
and Shareholders.
4 | GENERAL GROWTH PROPERTIES, INC.
WHO WE ARE
OUR ORGANIZATION
General Growth Properties, Inc. (GGP) is a Real Estate
Investment Trust (REIT) located at 110 N. Wacker Drive,
Chicago, IL 60606. The primary business is to be an
owner and operator of best-in-class retail properties that
provide an outstanding environment and experience
for our communities, retailers, employees, consumers
and shareholders.
As of December 31, 2013, we owned, either entirely or
with joint venture partners, 120 regional malls comprising
approximately 125 million square feet of GLA. In addition
to regional malls we owned 13 strip/other retail properties
totaling approximately five million square feet of GLA,
as well as six stand-alone office buildings totaling
approximately 700 thousand square feet of GLA.
As of December 31, 2013 substantially all of GGP’s
business was conducted through GGP Limited
Partnership (the “Operating Partnership” or “GGPLP”).
GGP owns approximately a 99% common equity
interest in the Operating Partnership.
Total Revenues
For more detailed information regarding operating
costs, employee compensation, donations and
other community investments, retained earnings, and
payments to capital providers and governments, please
refer to the GGP Annual Report.
Generated & distributed - in millions
Approx. 1,500
$2.5 billion
Including interest income and management fees
Total Assets
This report should be read in conjunction with the
consolidated financial statements and the Company’s
2013 10-K. This discussion contains forward-looking
statements about our business. These statements are
based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results
could differ materially because of factors discussed
in “Forward-Looking Statements” and “Risk Factors”
contained in our 2013 10-K and in our other reports
that we file from time to time with the Securities and
Exchange Commission.
DIRECT ECONOMIC VALUE*
GGP AS OF DECEMBER 31, 2013*:
Employees (Full-Time)
In 2013, we substantially scaled back our investment in
retail properties outside of the U.S. by selling our stake
in Aliansce, a developer and manager of shopping
centers in Brazil. We continue to hold an interest in one
mall in Brazil.
$25.8 billion
Total Revenues
2,527
Operating Costs (1,695)
Operating Income
832
Net Income Attributable to GGP
303
*Figures are presented in conformity with accounting principles generally accepted in the United States of America.
2014 SUSTAINABILITY REPORT | 5
WHO WE ARE
GOVERNANCE
GGP is governed by a board of directors with an
independent chairman. The Board consists of nine
directors (eight male and one female), all of whom,
other than our Chief Executive Officer, are independent
within the meaning of the listing standards of the NYSE.
STOCKHOLDERS
BOARD OF DIRECTORS
Independent Directors include:
Richard B. Clark Daniel B. Hurwitz
Mary Lou Fiala
Brian W. Kingston
J. Bruce Flatt
David J. Neithercut
John K. Haley
Mark R. Patterson
COMMITTEES: AUDIT, COMPENSATION
AND NOMINATING & GOVERNANCE
VP AUDIT
(REPORTS TO THE AUDIT COMMITTEE
OF THE BOARD OF DIRECTORS)
CHIEF EXECUTIVE OFFICER
The Board’s responsibilities and objectives
include the following:
Oversee, directly and through board
committees, the business and affairs
of the Company;
•
Seek to enhance stockholder value
over the long term;
•
Consider the interests of the Company’s
employees and shareholders; and
•
SENIOR EVP
MALL
LEASING
CHIEF
FINANCIAL
OFFICER
CHIEF
OPERATING
OFFICER
CHIEF
LEGAL
OFFICER
CHIEF
INFORMATION
OFFICER
EVP ANCHORS,
DEVELOPMENT
& CONSTRUCTION
Fulfill its obligations in alignment with
legal and ethical standards.
•
The Board considers transactions and relationships
between each director (including any member of his
or her immediate family, if any), the Company and its
subsidiaries and affiliates. In making independence
determinations, the Board considers each relationship
not only from the standpoint of the director, but also
from the standpoint of persons and organizations
which the director has a relationship. The purpose of
this review is to determine whether any such relationship
or transactions would interfere with the director's
independent judgment, and, therefore be inconsistent
with a determination that the director is independent.
Stockholders or other interested persons wishing to
communicate with members of the Board may contact
them by writing to Corporate Secretary, 110 North
Wacker Drive, Chicago, Illinois 60606. Correspondence
may be addressed to the independent directors as
a group, the entire Board or one or more individual
members of the Board, at the election of the sender.
Any such communication will be promptly distributed to
6 | GENERAL GROWTH PROPERTIES, INC.
the director or directors named therein. Communications
will be forwarded to all directors if they relate to substantive
matters and include suggestions or comments the recipient
considers to be important for all directors to know.
Stockholders may present any proposal for inclusion in the
Company's proxy statement in accordance with Rule 14a-8
under the Securities Exchange Act of 1934 and our bylaws.
Employees may communicate with members of the
Board through the procedures listed above with respect
to shareholders.
The current standing committees of the
Board of Directors:
Audit Committee;
Compensation Committee; and
• Nominating & Governance Committee
•
•
Descriptions of the mandates and composition of each
committee are in GGP’s proxy statement. Refer to the
proxy statement for more information on the committees
of the Board of Directors.
STAKEHOLDER ENGAGEMENT
DETERMINING MATERIALITY
Relationships are essential to GGP’s success. By engaging
with core stakeholders, who include communities, retailers,
employees, consumers, and shareholders, we can better
anticipate and understand emerging trends, improve
operational practices that enhance our environmental
impact and understand our customers’ needs.
GGP recognizes the importance of focusing on key ESG
(environmental, social, and governance) issues that have
the greatest impact on stakeholders and our business. To
determine materiality of sustainability related issues, we
consider the following:
• Feedback from internal leadership on the areas
where GGP can make the most notable influence;
GGP engages with stakeholders informally through
participation and/or membership in networks and industry
• Data requests from various sustainable businesses such as Carbon Disclosure Project and GRESB ; and
associations. Internally, employees are engaged across
departments to identify and prioritize material issues. All
stakeholders can contact us at ggpsustainability@ggp.
com. Additional content on sustainability initiatives can
also be found at www.ggp.com.
• Suggestions from our internal teams to determine what is most important to their teams.
The themes that emerged from these discussions
are the focus of this report.
We believe collaboration is critical to GGP’s success.
We look forward to continuing stakeholder engagement
and encourage ongoing discussions to improve the
experience at our properties and strengthen communities
in which they reside.
ABOUT THIS REPORT
This is GGP’s first GRI standard report and focuses on the
2013 calendar year. The first non-GRI standard report
was published in August 2013. As such, we have no
restatements of information and there are no significant
changes to the scope, boundary or measurements to
report at this time. This report data includes information
on malls GGP managed in the United States that are
under our operational control. GGP anticipates publishing
a sustainability report on an annual basis following the
end of each calendar year.
The structure and principles of GRI 3.1 version of
indicators were obser ved and developed with
reference to the Construction and Real Estate Sector
Supplement. Our performance has been assessed
against the GRI guidelines at a C level. Reporting
priorities were determined based on relevance to
GGP’s vision for sustainability as well as importance to
our organization’s operations. For further information
regarding this report and its contents, please contact
[email protected].
The purpose of this report is to provide an outline of GGP’s
ongoing economic, environmental and social initiatives.
Data has been compiled through current internal systems
and processes.
2014 SUSTAINABILITY REPORT | 7
CARING ABOUT
THE ENVIRONMENT
GGP is committed to being an environmentally responsible business. As a company highly focused on asset management,
we strive to allocate capital efficiently. Recently, we have focused on opportunities to increase building efficiencies.
OUR EFFORTS ARE CONCENTRATED
ON CAPITAL EXPENDITURES THAT INCREASE
BUILIDINGS' ENVIRONMENTAL PERFORMANCE
IN KEY AREAS SUCH AS:
GREENHOUSE GAS EMISSIONS
(GHG)
Our primary focus is to reduce GHG emissions through
improved operational energy efficiencies. Electricity
consumption was the most significant part of GGP’s
emissions profile, accounting for 89% of total emissions.
The majority of Scope 1 emissions is from combustion
of natural gas to heat/cool our centers and gasoline
consumption to manage the GGP security car fleet. In
Scope 2, the majority of emissions come from consumed
electricity. Scope 3’s largest emissions part is the waste.
HEATING
COOLING
• LIGHTING
• FURNITURE
• FIXTURES
•
•
GREENHOUSE GAS EMISSIONS (GHG)
700,000
634,635
600,000
500,000
400,000
300,000
200,000
100,000
0
MTCO2e
During 2013, 714,320 metric tonnes of CO2 were emitted
into the atmosphere as a result of GGP’s operations. GGP’s
direct energy consumption for 2013 was comprised
mostly of natural gas – around 84%.
EQUIPMENT AND WASTE MANAGEMENT
• WATER USAGE FOR
BATHROOMS AND
IRRIGATION
•
51,483
28,202
SCOPE 1
Direct Emissions
SCOPE 2
Indirect Emissions
SCOPE 3
Optional Emissions
Note: Scope 3 emissions do not include employee commuting
BELLIS FAIR
8 | GENERAL GROWTH PROPERTIES, INC.
2013 DIRECT ENERGY CONSUMPTION BY PRIMARY SOURCE
FUEL TYPE
TOTAL KWH
TOTAL GJ
%
18,051,245
2,256,405
11.23%
Diesel Fuel
318,249
43,918
0.20%
LPG
20,478
2,948
0.01%
Ethanol (Gasoline Component Only)
33,634
4,843
0.02%
Compressed Natural Gas (CNG)
115.05
12
0.00%
135,420,630
14,286,876
84.24%
4,282,845
15,418
4.30%
158,283,539
16,632,936
100%
Motor Gasoline
Natural Gas
Renewable Sources
Total
INDIRECT ENERGY CONSUMPTION BY PRIMARY SOURCE
FUEL TYPE
Purchased Electricity
BELLIS FAIR
TOTAL KWH
TOTAL GJ
1,111,753,452
4,002,312
NATICK MALL
2014 SUSTAINABILITY REPORT | 9
CARING ABOUT
THE ENVIRONMENT
WASTE
GGP is committed to reducing waste sent to landfills.
As a result of our sustainability efforts, our diversion
rate for 2013 was 24%. Every center that GGP owns and
manages recycles cardboard. GGP centers also recycle
plastics, glass, aluminum cans and hangers. Currently GGP
has four centers that compost a total of 1,119 tonnes of
food. We intend to expand our composting program at
additional centers.
TONNES OF WASTE DISPOSAL BY CATEGORY
1,119
1%
2,132
2%
23,316
23%
479
0%
75,989
74%
WATER
In the United States, water rates have been increasing
10-25% annually due to aging infrastructure, climate
change and mandated water restrictions. Facing this
reality, GGP is exploring ways to rethink water use for
irrigation and landscaping needs. In 2013, GGP reduced
water consumption by 7% compared to 2012. We hope
to find ways to reduce our consumption even more in this
area moving forward.
RECYCLING
COMPOSTING
INCINERATION
LANDFILL
CONVERTED TO ENERGY
Development construction waste not included
WATER USAGE 2011 – 2013
Million Cubic Meters
2011
2012
2013
10,529.56
11,267.12
10,521.96
7%
-7%
Year Over Year Change
THE WOODLANDS MALL
10 | GENERAL GROWTH PROPERTIES, INC.
THE SHOPS AT LA CANTERA
BAYSIDE MARKETPLACE
ATTAINS WATER REDUCTION
Last year, a new smart weather irrigation system at
Bayside Marketplace (Miami, Florida) was implemented.
This smart technology monitors both real-time weather
and soil conditions, which allows watering to occur only
as needed. The system is comprised of controllers that
optimize watering automatically based on plant and soil
type, slope, geography and angle of the sun. Controllers
receive site specific weather data every 10 seconds and
adjust water use to establish optimal irrigation conditions
for each landscaped zone. This new system will reduce
over-watering and landscaping damage.
IN THE FIVE MONTHS FOLLOWING
INSTALLATION, GGP SAVED OVER 1 MILLION
GALLONS OF WATER AT BAYSIDE MARKETPLACE.
We are currently evaluating other smart weather irrigation
system opportunities across our portfolio.
MITIGATING ENVIRONMENTAL IMPACTS
G G P ’s co m m i t m e nt to s u s ta i n a b i l i t y e x te n d s to i t s e nv i ro n m e nta l m a n a g e m e nt a n d co m p l i a n ce program, a
key element of sustainabilit y. The in-house environmental team handles all environmental issues on both an individual
property and corporate-wide level, assuring compliance with Occupational Safet y and Health Administration (OSHA)
standards. This program has been in place for more than 15 years. It includes defined corporate environmental procedures
and protocols, training of GGP personnel, compliance audits of operating properties and involvement by the internal GGP
environmental team in all aspects of company operations.
BAYSIDE MARKETPLACE
2014 SUSTAINABILITY REPORT | 11
SUSTAINABLE
OPERATIONS & EFFICIENCIES
During 2013, GGP made measurable strides in the
implementation of a solar program, energy conservation
and lighting upgrades. GGP also created an in-house
Energy Department. The main focus of this group is to
reduce energy consumption by installing solar panels,
installing LED lighting upgrades, upgrading Energy
Management Systems and utilizing energy review
teams to evaluate and fine tune best practices. Annual
highlights of energy initiatives include:
ENERGY MANAGEMENT SYSTEMS (EMS):
A large portion of GGP’s energy consumption is dependent
on the efficiency of our mechanical rooms and common
areas. In order to maximize this opportunity, GGP invested in
25 Energy Management Systems (EMS) upgrades across our
portfolio, which will help to reduce consumption and cost.
ENTERPRISE OPERATIONS ANALYTICAL PLATFORM (EOA):
With the ongoing rollout of the EOA, GGP is taking Enterprise
Energy Management (EEM) to new heights. Our EOA integrates
with the property level EMS extracting approximately 2,000
data points at each property providing real-time consumption
of energy for lighting and HVAC systems.
ENERGY EFFICIENT STANDARDS:
All HVAC equipment replaced at our properties meets
or exceeds Energy Star Criteria and meets ASHRAE 90.1
requirements. Each property adheres to a checklist of
operational energy efficiency best practices to ensure
GGP is continually improving energy efficiency across
the portfolio.
ENERGY REVIEW TEAMS:
GGP assembled teams in 2013 to assess and g i ve
recommendations on how we could increase energy
efficiency and lower utility costs at our centers. Teams
reviewed every GGP center and recommended ideas to
improve operational efficiencies.
DEMAND RESPONSE PROGRAM:
GGP participates in an energy demand response program,
which enables us to reduce electricity during times of
peak demand. When electricity demand is high and
power is short, interruptions can occur. Demand response
days are declared when electricity outpaces supply, which
means shutting down or reducing non-essential lighting
and equipment. This helps to support consistent electricity
and reduce the need for additional generation. Twentyfive properties participated in this program reducing our
kilowatt (KW) demand by 19,038 in 2013.
ENERGY EFFICIENCY UPGRADES
In 2013, GGP reduced energy expenses and improved lighting performance by completing several lighting
projects across our portfolio. We changed parking garage lights from metal halide lamps to light emitting diodes
(LEDs) providing approximately 60% energy savings. Interior LED lighting retrofit projects replaced existing inefficient
bulbs and fixtures, which not only reduced energy consumption and utility costs, but also resulted in a more
natural spectrum of light.
ESTIMATED ANNUAL
SAVINGS
ESTIMATED ANNUAL
SAVINGS
ESTIMATED ANNUAL
ENERGY
ESTIMATED C02
EMISSIONS
kWh
GJ
SAVINGS
REDUCTION (LBS.)
Parking Garage Lighting
6,023,054
21,682
$801,866
6,854,881
Interior Lighting
1,548,330
5,573
$212,214
1,663,824
Total
7,571,384
27,255
$1,014,080
8,518,705
12 | GENERAL GROWTH PROPERTIES, INC.
SOLAR POWER
GGP’s use of alternative power, in particular solar energy,
is aligned with our core value of Do the Right Thing.
Our investments to date have delivered benefits to the
environment and cost savings to our properties.
During late 2012 and continuing into 2013, GGP invested in
solar power at four properties in New Jersey. The installations,
have the capability to provide an aggregate of 5.129
megawatts (MW) supplying power to the malls’ common
areas. On average, these solar panels deliver approximately
11% of each malls total electricity demand. In the first year
of operation, the solar systems provided greater cost
savings than expected due in large part to increased utility
rates in New Jersey.
We project that over the 30-year life of the New Jersey
installations, CO2 emissions will be reduced by 263 million
pounds, which equates to the following:
13,373,856 GALLONS OF GASOLINE
277,430 BARRELS OF OIL
2013 SOLAR ENERGY PRODUCTION RESULTS
SYSTEM SIZE
(KW)
FIRST MONTH
OF SERVICE
KWH ACTUAL
PRODUCTION
GJ ACTUAL
PRODUCTION
ENERGY
SAVINGS
Bridgewater Commons
1459.5
August 2012
1,814,845
15,984.00
269,000
Paramus Park
1032.7
October 2012
1,218,000
4,384.80
210,000
Willowbrook Mall
1163.8
February 2013
676,000
2,433.60
134,000
Woodbridge Center
1472.6
November 2012
1,792,000
6,451.20
260,000
GGP Solar Portfolio
5128.6
5,500,845
29,253.60
873,000
A portion of the Bridgewater system was completed in 2013.
We are currently in the process of evaluating additional solar opportunities. We develop solar projects in conjunction
with state and federal and local utility incentive programs.
ALA MOANA CENTER
2014 SUSTAINABILITY REPORT | 13
DEVELOPMENT
& PROPERTY MANAGEMENT
In many localities, shopping malls not only serve as the primary community gathering place, but also generate significant
tax revenue for communities which is used to support local school systems, infrastructure and government functions.
As part of the development process, GGP engages city leaders and local organizations to discuss and understand
environmental issues that directly impact the community. Key components to this collaboration include analysis of site
plans, traffic studies, storm water management, water conservation, waste management, erosion, pollution controls,
transportation alternatives and energy management. Reviewing and discussing these issues with the public helps
formulate strategies to develop project objectives and reduce the environmental impact of the development. GGP
completes due diligence and feasibility studies at multiple phases for all development projects to minimize negative
economic and social impacts. GGP has implemented guidelines, standards and protocols that create consistency and
efficiencies that are beneficial to our development and sustainability strategies.
THE MALL IN COLUMBIA
In 2013, GGP completed its first Leadership in Energy and
Environmental Design (LEED) Certified project (in application
review status, awaiting approval) at The Mall in Columbia
(Columbia, MD). This 77,000-square-foot lifestyle expansion
was designed to meet best practices of sustainability and
the U.S. Green Building Council LEED Certified Rating.
The beds absorb runoff and allow storm water to
naturally percolate into the ground. To avoid flooding,
water that overflows enters the storm drainage system.
Storm water inlets in the micro bio-retention areas also
filter runoff before the water enters the storm drainage
system, which flows into Lake Kittamaquandi.
A significant highlight of this project is the storm drainage
collection system.
Architectural highlights of our LEED project include a
white roof membrane that reflects heat and reduces
the mall’s cooling needs. To optimize lighting and power
usage the mall’s common area was incorporated into
the overall mall Energy Management System (EMS).
High efficiency Seasonal Energy Efficiency Ratio (SEER
rating) HVAC equipment was installed to reduce the
building’s overall energy consumption. Water efficient
fixtures were also installed in the restrooms.
A 6,000 GALLON WATER CISTERN
COLLECTS RAINWATER THAT CAN BE
REUSED TO IRRIGATE MALL LANDSCAPING.
Drought tolerant landscaping was utilized further to
reduce our irrigation needs. Plaza runoff is treated by
eight micro-bio retention landscaping beds.
THE MALL IN COLUMBIA
14 | GENERAL GROWTH PROPERTIES, INC.
MONDAWMIN MALL
MONDAWMIN MALL
The recent lifestyle expansion at Mondawmin Mall
(Baltimore, MD) exemplifies our focus on sustainability. The
38,000- square-foot expansion features a 25,000-squarefoot Ross Dress for Less and a 10,500-square-foot Dollar Tree.
Redevelopment was structured around the Environmental
Site Design practices of the City of Baltimore’s Green
Initiatives that aim to maintain the integrity of the surrounding
ecosystem and mitigate negative environmental impact.
SIMULATIONS SHOW THAT THE ADDITION
OF HIGH-EFFICIENCY HVAC AND
LIGHTING EQUIPMENT RESULTED IN
ENERGY SAVINGS OF 22%.
Lighting and power usage was optimized using photo
cells and automated lighting schedules that were
incorporated into the overall EMS. To help reduce heating
and cooling costs, insulation with higher R-values
was used. High efficiency windows were installed with
reflective coatings to help diffuse heat gain and maintain
consistent cooling building temperatures. To reduce
wastewater, low-flow water fixtures were installed that will
decrease water use by 30%. A white roof membrane
was installed to reflect heat back into the atmosphere and
reduce cooling needs of the buildings.
On the exterior of the property, a storm water management
plan was created to reduce flooding and protect the
landscape and local waterways. Excess rainfall increases
runoff that can cause a decline in water quality, soil erosion,
decreased plant growth and additional pollutants to enter
the surrounding areas. One bio-swale and three micro
bio-retention facilities were created to filter storm water
prior to off-site evacuation. To maintain the natural diversity
of the area, an exterior drought tolerant landscaping plan
was implemented which reduces irrigation and eliminates
the need for a permanent irrigation system. Mulching
mowers are also used that will return clippings back into
the lawn to recycle vital nutrients.
Environmentally-friendly forms of transportation are now
offered which include eight smart parking spaces to charge
electric vehicles and additional bike racks. Mass transit bus
stops are also conveniently located at the mall.
2014 SUSTAINABILITY REPORT | 15
DEVELOPMENT
& PROPERTY MANAGEMENT
GLENDALE GALLERIA
Glendale Galleria (Glendale, CA), is one of GGP’s
premier shopping destinations in Southern California. At
1,327,000-square-feet, the center is Los Angeles County’s
second largest regional shopping destination, with four
department stores and more than 200 specialty stores. The
2013-2014 renovation updated the entire common area and
all exterior entrances with a new, fashion-forward image.
DURING THE RENOVATION, 50% OF
EXISTING WALLS, FLOORS AND ROOFING
MATERIALS WERE REUSED.
Energy efficient skylights were installed along with a reflective
white roof reducing heat absorption. To reduce the level of
pollutants released into the indoor environment, low emitting
volatile organic compounds (VOC) materials, such as
adhesives, sealants, paints, coatings, flooring systems and
wood products were incorporated throughout the project.
Daylight was maximized with a wall of fritted glass near the
Central Avenue escalator which minimizes heat gain. New
elevators utilizing a machine room-less technology save
GLENDALE GALLERIA
16 | GENERAL GROWTH PROPERTIES, INC.
space, are more energy efficient and avoid the use of
polluting fluids. Compared to traditional hydraulic elevators,
they provide approximately 40% of energy savings.
A wide variety of lighting levels was used throughout the
center, adding complexity and richness to the design,
while also meeting California’s strict lighting requirements.
Throughout the property, low-flow plumbing fixtures were
installed in the bathrooms that reduce water consumption.
To eliminate battery disposal from the waste stream, all
operated lavatories and water-closet flush valves were hard
wired. High efficiency hand dryers were installed, which use
40% less energy than competitive high speed hand dryers
and only 12% of the energy of traditional dryers.
Improved transportation options were added, which include
the addition of bicycle racks and an expanded bus shelter
for people utilizing public transportation. In 2014, electric car
charging stations are scheduled to be installed on the property.
GLENDALE GALLERIA
OTHER SUSTAINABLE RENOVATIONS
During 2013, five additional smaller renovation projects were implemented at Bellis Fair (Bellingham, WA), Newgate Mall
(Ogden, UT), Galleria at Tyler (Riverside, CA), Plaza Frontenac (St. Louis, MO) and Willowbrook Mall (Houston, TX), which included
various lighting upgrades, paint, tile, carpeting and architectural updates improving the overall design and providing a fresh
look. All development and renovation projects included waste diversion practices reducing waste sent to the landfill.
RECYCLED WASTE FROM DEVELOPMENT AND RENOVATION PROJECTS
PROPERTY AND LOCATION
TOTAL PERCENTAGE OF
WASTE MATERIALS RECYCLED
Bellis Fair (Bellingham, WA)
90%
Galleria at Tyler (Riverside, CA) Landfill
92%
Glendale Galleria (Glendale, CA)
80%
Mondawmin (Baltimore, MD)
75%
Newgate Mall (Ogden, UT)
40%
Plaza Frontenac (St. Louis, MO)
88%
The Mall In Columbia (Columbia, MD)
75%
Willowbrook Mall (Houston, TX)
50%
Total Average Diversion Rate
74%
PLAZA FRONTENAC
PLAZA FRONTENAC
2014 SUSTAINABILITY REPORT | 17
COMMUNITY
ENGAGEMENT
Since opening our first mall in 1954, GGP has invested in the
longevity of our communities. We understand that our centers
often are the heart of the community, where customers can
shop, dine and enjoy entertainment venues. Our malls are
true community partners in the neighborhoods where they
are located. GGP believes that charitable partnerships and
programs make the communities we serve stronger and
more vibrant. This philosophy is embodied in our national
charitable programs, local mall events and corporate
giving. We actively seek opportunities to invite community
groups into our shopping malls to increase awareness,
financial support and volunteerism for charitable causes in
our neighborhoods. Last year, 1,200 charities benefited from
partnerships with GGP malls.
2013 HIGHLIGHTS
More than 3,000 charitable events hosted by GGP malls
$5.9 million donated by shoppers
• GGP donated 3.5 million square feet of mall space
to non-profit organizations
• $1.5 million donated by GGP to partner charities
•
•
2012
2013
Company Donations
$1,219,902
$1,500,696
Employee Donations
$82,062
$64,057
$6,536,973
$5,976,472
Estimated Shopper Donations
DONORS CHOOSE
GGP has partnered with DonorsChoose.org to engage
customers in providing teachers across the country with
needed classroom supplies. DonorsChoose.org makes it easy
for anyone to help students in need. Teachers post requests
for supplies, field trips, technology and other resources, and
individuals give directly to the projects that inspire them.
Nearly 11,000 teachers received classroom supplies and
resources from shopper donations.
•
More than $507,000 was donated to classrooms
•
GGP and its customers helped 846,500 students in 2013
Nearly 25,000 ggp customers donated to a
donorschoose.org classroom project by redeeming
donation gift cards, courtesy of GGP.
•
“You are making this contribution to our entire preschool that includes 60 amazing, beautiful and hungry
to learn students. We are all very grateful and thank you from the bottom of our hearts!”
- Ms. Figueroa, Perth Amboy, NJ
18 | GENERAL GROWTH PROPERTIES, INC.
CELEBRATE TEACHERS!
To further complement GGP’s charitable focus on education, we established the Celebrate Teachers! Contest. This program
recognized nearly 100 teachers who inspire and change lives every day. Winning teachers received $500 and were surprised
by mall teams at school assemblies or in their classrooms, just in time for National Teacher Day on May 7.
“I want to thank you again for the wonderful surprise today. I was completely caught off guard. Thank
you so much for offering this wonderful program to teachers. I plan to use the prize to buy an iPad for
the classroom. I want you to know how much it means to me and my students."
- Mrs. Schueller, Milwaukee, WI
LOCAL IMPACT
In our communities across the United States, mall teams
coordinated individual community programs supporting
local charitable causes. Local events in 2013 included
charitable-cause fashion shows, 5k races, pet adoption
centers and more.
SUPPORTING CHILDHOOD EDUCATION
In 2011, the GGP corporate office partnered with the Chicago
Sun-Times’ “Season of Sharing” program and adopted the
New Sullivan Elementary School on Chicago’s Southeast
side. Nearly 300 letters were received from children (Pre-K
through third grade) asking for toys, clothes and shoes from
Santa. GGP employees made students’ wishes come true by
buying each child a present for the holidays. In addition, GGP
leveraged retailer partnerships by providing 550 winter coats,
hats and gloves to every child at New Sullivan.
GGP has also partnered with New Sullivan through a monthly
read-with-me program, a back-to-school supply drive, and
by giving donations of cash and books to Tutoring Chicago
that is a local charitable non-profit organization designed to
improve the literacy of struggling readers. To further support our
New Sullivan partnership, GGP sponsored a holiday employee
raffle, which raised money for New Sullivan’s ongoing needs.
In total, GGP has contributed more than $50,000 to
educational programs, supplies, and book donations. GGP
employees have already contributed a significant amount of
volunteer time to support this educational cause.
2014 SUSTAINABILITY REPORT | 19
WORKPLACE
GGP recognizes that the reputation and strength of our
company lie in our workforce. We are dedicated to hiring,
engaging and retaining a diverse workforce that mirrors
the values we share. We want our employees to know that
opportunities are available to fully utilize their talents and
make an impact on our business and customers.
annual reports on various metrics relating to diversity,
disability, gender, military experience, age and job group
to the Office of Federal Contract Compliance Programs.
More information on career opportunities is available on
GGP’s career page. As of December 31, 2013, GGP had a
total workforce of 1593 employees.
GGP fosters a dynamic workforce consisting of people
of many different ethnicities, nationalities, and races.
However diversity is not limited to ethnicity, nationality
or race. A diverse talent pool includes people of different
religions, sexual orientations, ages, work experiences,
cultures, beliefs, physical abilities, military experiences and
educational backgrounds. Diversity is limitless and highly
valued at GGP.
Although we do not disclose specific breakdowns of age,
race, ethnicity or national origin distributions, we strive
for diversity in our workforce. We recognize the benefits
of diversity, which include increased staff retention and
productivit y, enhanced responsiveness to a diverse
customer base and improved relations in the communities
where our properties reside.
GGP is considered a government contractor by the federal
government because we lease space in some of our malls
to government agencies. For that reason, GGP provides
EMPLOYEE STATUS TOTALS
TOTAL SKILL DISTRIBUTION
TOTAL
% DISTRIBUTION
403
25.3%
TOTAL
% DISTRIBUTION
1562
98.1%
Managers
31
1.9%
Non-Managers
1190
74.7%
1593
100.0%
Total
1593
100.0%
Full Time
Part Time
Total
TENURE DISTRIBUTION
TOTAL
% DISTRIBUTION
< 5 Years
705
44.3%
5-10 Years
421
26.4%
10-15 Years
207
13.0%
15-20 Years
117
7.3%
20 + Years
143
9.0%
1593
100.0%
Total
20 | GENERAL GROWTH PROPERTIES, INC.
EMPLOYEE ENGAGEMENT SURVEY & RESULTS
Our employees are the key ingredient to GGP’s success. Highly engaged teams foster a collaborative and high-performing
work environment, which helps us achieve our long term goals. In June 2013, an engagement survey was distributed to
all employees. The survey was performed by Kenexa and 1,295 employees responded. The results emphasized:
• A STRONG CULTURE SUPPORTED BY GGP’S CORE VALUES (HIGH PERFORMANCE, ATTITUDE, DO THE RIGHT THING, TOGETHER AND OWN IT)
• COMMITMENT AND WILLINGNESS TO MAKE OUR BUSINESS EVEN BETTER
• CONTINUED FOCUS ON ORGANIZATIONAL CULTURE AND VISION COUPLED WITH COMMUNICATION, RECOGNITION, GROWTH AND DEVELOPMENT.
I n 2 014, G G P w i l l fo cu s o n e n h a n ce d co m m u n i ca t i o n o f co m p a n y v i s i o n, co nt i n u e d e n c u l t u ra t i o n
m o d e l i n g a n d i m p rove d co m m u n i ca t i o n s a t a l l l eve l s a n d b et w e e n d e p a r t m e nt s .
2014 SUSTAINABILITY REPORT | 21
WORKPLACE
CULTURE AT GGP
In 2013, GGP embarked on a commitment to strengthen its culture and establish a body of shared values and ideals. A Culture
Leadership team was established consisting of five executives across different disciplines who provide direction to the Culture
Champions committee and oversees the culture process. The committee assists management by incorporating GGP culture and
core values into day-to-day use. To enable a positive and sustainable winning culture, the committee provides support by creating
culture ideas, guidance, and tools that spread GGP’s values throughout the Company. GGP's culture is defined by our Mission
Statement and Core Values. BY THE END OF SUMMER IN 2013,
MORE THAN 1,500 EMPLOYEES
WERE INTRODUCED AND TRAINED
IN THE COMPANY-WIDE GGP
CULTURE PROGRAM. MORE THAN
10,000 HOURS WERE DEDICATED
TO CULTURE TRAINING, WHICH
EQUATES TO APPROXIMATELY 6.25
HOURS OF TRAINING PER PERSON.
22 | GENERAL GROWTH PROPERTIES, INC.
GGP CORE VALUES
H
A
D
T
O
IGH PERFORMANCE
Pr i o r i t ize A ct i v i t i e s to Y i e l d t h e B e s t Re s u l t s
S o l u t i o n D r i ve n
W i l l i n g n e s s to Ta ke A p p ro p r i a te R i s k s
E xce e d E x p e cta t i o n s
TTITUDE
Po s i t i ve S p i r i t
Pe r s o n a l G row t h
Re s p e ct
O THE RIGHT THING
I nte g r i t y
O p e n C o m m u n i ca t i o n
Ke e p s C o m m i t m e nt s - M y Wo rd i s M y B o n d
OGETHER
S u p p o r t s Te a m D e ci s i o n s Pu b l i ca l l y & Pr i va te l y
A cce pt i n g of O t h e r s ' I d e a s
I s U n s e lfi s h i n M a k i n g D e ci s i o n s w i t h
G G P i n M i n d Fi r s t
C o l l a b o ra t i o n
WN IT
A cce pt s Re s p o n s i b i l i t y to M y A ct i o n s
Ta ke s I n i t i a t i ve to G et T h i n g s D o n e
Em p owe r s O t h e r s
Re s p e ct s O t h e r ’s Re s p o n s i b i l i t y to O w n i t
HEADQUARTER RENOVATION
In March of 2013, GGP ’s corporate headquarters
received a face-lift. Ever y effort was made to use
sustainable products. Walls were painted with
low volatile organic compound (VOC) paint, which
reduced harmful gases and unpleasant odors.
Recycled carpeting was installed that contained no
harmful chemicals. 1,700 existing workstations were
kept, diverting waste from landfills. Nearly 700 cubicle,
office and conference room chairs were reupholstered
with fabric made from recycled content, eliminating
the need for chair base disposal. New furniture for the
hub areas was made with recycled content.
A major part of the renovation included the addition
of collaborative common areas called “hubs” on
ever y floor. These “hubs” encourage employees to
meet informally, brainstorm or just catch up with
colleagues. Each hub has click sharing technology
that allows users to present content on a display to
instantly connect, communicate and collaborate in
small groups, reducing the need for paper handouts.
Sustainabilit y was at the heart of many aspects of
the renovation. From the beginning, ever y employee
participated in departmental clean-up days, which
comprised of recycling unneeded paperwork and
office supplies and removing file cabinets to enhance
the open office space environment. More than 57,000
pounds of paper were recycled and more than 200
boxes of office supplies and desk accessories were
donated to local charitable organizations. Surplus
furniture, doors, appliances and file cabinets were
donated to organizations such as The Salvation Army
and Habitat ReStore to reduce the impact on the
environment. More than 88% of construction materials
were also recycled.
2014 SUSTAINABILITY REPORT | 23
WORKPLACE
WASTE REDUCTION CHANGES
Making strides in waste reduction involves collaboration
through employee-driven initiatives. GGP developed
bet ter communication and signage and implemented
a specialty waste recycling program at the corporate
office. Light bulbs and batteries are now recycled at
our corporate office as well as our mall properties, thus
reducing harmful gases and chemicals from landfils. We
have also diverted more than 17,000 pounds of electronic
waste, which included desktops, notebooks, phones and
other equipment. This equates to the energy savings
of powering 42 households per year and removing 61
passenger cars from the road per year.
SUSTAINABILITY NEWSLETTER
The SustainABILITY newsletter embodies our core value, “together.” It is published monthly for GGP employees and highlights
both employee and departmental sustainable efforts. The newsletter heightens awareness on sustainability projects that
were completed across the portfolio and provides an outlet to continue sustainable conversations.
24 | GENERAL GROWTH PROPERTIES, INC.
ENCOURAGING EMPLOYEE WELLNESS
GGP believes investing in the health and well-being of our
employees benefits not only individual employees, but the
Company as a whole, as our employees will be healthier,
happier and more productive. In September 2013, GGP
introduced its new GGP Wellness program. Key goals of the
program are to increase awareness of healthy everyday
choices, improve the health and wellness of our employees
and their families at work and at home, and create a culture
of wellness at GGP. Additional wellness resources
are
available to employees on an interactive GGP Wellness
website that provides personalized wellness tools designed
to help optimize fitness, dietary and wellness goals. The
Chicago corporate office sponsored events that supported
the wellness program; which included an onsite biometric
screening, 5k walk /run; flu shot clinic and onsite yoga
classes twice a week. 35% of our employees participate in
the GGP Wellness Program. Our goal is to engage over 50%
of employees by the end of 2014.
5K RUN WITH CEO
2014 SUSTAINABILITY REPORT | 25
WORKPLACE
PROFESSIONAL DEVELOPMENT & TRAINING
GGP is committed to developing and engaging
people throughout their career. This in turn strengthens
our employee base to work on challenging issues and
develop leadership skills.
Employees are encouraged to continue their education
and obtain certifications through national industr y
associations and specialized training programs.
The company will pay the cost for employees to
pursue designations from the International Council
of Shopping Centers (ICSC) and BOMI International.
If employees are required to hold a professional
registration, certification or license to perform
aspects of their work, the company will reimburse the
employee or pay the cost. GGP also offers financial
assistance to those who choose to participate in
outside educational programs or who are pursuing a
degree related to their work assignment.
EMPLOYEE PERFORMANCE
High Performance is one of our most accomplished
GGP Core Values. Fostering a goal-oriented
environment is a critical component to achieving a
high performance culture. Employees and managers
meet to create mutually agreed upon goals that align
with business goals for the year. All employees receive
a mid-year and year-end review which provides a
formal discussion for managers and employees to
align performance progress and allows employees to
provide formal feedback. GGP believes that open and
honest feedback throughout the year will ultimately
assist in maintaining our high performance team.
The dedication to continually learn has been exemplified by employees who have attained ICSC certifications.
Congratulations to all who achieved this milestone in 2013.
CERTIFICATION TYPE
TOTAL EMPLOYEES WHO
ATTAINED CERTIFICATION
Certified Shopping Manager (CSM) 4
Certified Marketing Director (CMD)
6
Certified Leasing Specialist (CLS)
2
Certified Retail Property Executive (CRX)
17
Specialty Leasing Designation (SLD)
10
AWARDS
REALCOMM DIGIE AWARD
GGP received a RealComm Digie Award for Best
Use of Automation. Digie Awards are presented to
companies, real estate projects, technologies and
people that positively impact the commercial,
corporate, government and institutional real estate
industr y through the use of technology, automation
and innovation.
26 | GENERAL GROWTH PROPERTIES, INC.
CONTACT
This report contains information in summary form and is intended for general audience only. It is
not intended to be a substitute for detailed research or the exercise of professional judgment.
CORPORATE OFFICE
General Growth Properties, Inc.
110 N. Wacker Drive
Chicago, IL 60606
(312) 960-5000
www.ggp.com
Learn more about GGP’s sustainability efforts at www.GGP.com.
We invite you to submit your comments and suggestions regarding this report.
Please contact us at:
Kevin Berry
Vice President Investor Relations
[email protected]
(312) 960-5529
Marti Smith
Sustainability Program Manager
[email protected]
(312) 960-2884
Join us in reducing paper usage by sharing this report with someone else. Please recycle this report when you are finished.
It is also available on our website at www.ggp.com.
This printed report has been produced in an environmentally friendly manner. It has been manufactured with 100%
renewable energy and is carbon neutral. It is printed on recycled fiber from 100% post-consumer waste paper. The Forest
Stewardship Council has deemed it Chain of Custody certified.
2014 SUSTAINABILITY REPORT | 27
28 | GENERAL GROWTH PROPERTIES, INC.
PORTFOLIO
ALABAMA
INDIANA
NORTH CAROLINA
Riverchase Galleria · Hoover
Glenbrook Square · Fort Wayne
ARIZONA
IOWA
Carolina Place · Pineville (Charlotte)
Four Seasons Town Centre · Greensboro
The Streets at Southpoint · Durham
Park Place · Tucson
Tucson Mall · Tucson
Coral Ridge Mall · Coralville (Iowa City)
Jordan Creek Town Center · West Des Moines
OHIO
ARKANSAS
KENTUCKY
Pinnacle Hills Promenade · Rogers
Florence Mall · Florence (Cincinnati, OH)
Greenwood Mall · Bowling Green
Mall St. Matthews · Louisville
Oxmoor Center · Louisville
CALIFORNIA
Eastridge · San Jose
Fallbrook Center · West Hills (Los Angeles)
Galleria at Tyler · Riverside
Glendale Galleria · Glendale (Los Angeles)
Northridge Fashion Center · Northridge (Los Angeles)
Otay Ranch Town Center · Chula Vista (San Diego)
Stonestown Galleria · San Francisco
Valley Plaza Mall · Bakersfield
Visalia Mall · Visalia
LOUISIANA
Mall of Louisiana · Baton Rouge
Oakwood Center · Gretna (New Orleans)
Pecanland Mall · Monroe
MAINE
The Maine Mall · South Portland
COLORADO
MARYLAND
Park Meadows · Lone Tree (Denver)
Southwest Plaza · Littleton (Denver)
The Gallery at Harborplace · Baltimore
The Mall in Columbia · Columbia (Baltimore)
Mondawmin Mall · Baltimore
Towson Town Center · Towson (Baltimore)
White Marsh Mall · Baltimore
CONNECTICUT
Brass Mill Center · Waterbury
The Shoppes at Buckland Hills · Manchester (Hartford)
DELAWARE
Christiana Mall · Newark (Wilmington)
FLORIDA
Altamonte Mall · Altamonte Springs (Orlando)
Bayside Marketplace · Miami
Coastland Center · Naples
Governor’s Square · Tallahassee
Mizner Park · Boca Raton
The Oaks Mall · Gainesville
Pembroke Lakes Mall · Pembroke Pines (Fort Lauderdale)
Village of Merrick Park · Coral Gables (Miami)
Beachwood Place · Beachwood (Cleveland)
Kenwood Towne Centre · Cincinnati
The Shops at Fallen Timbers · Maumee (Toledo)
OKLAHOMA
Quail Springs Mall · Oklahoma City
Sooner Mall · Norman (Oklahoma City)
OREGON
Clackamas Town Center · Portland
Pioneer Place · Portland
Rogue Valley Mall · Medford
PENNSYLVANIA
Neshaminy Mall · Bensalem (Philadelphia)
Park City Center · Lancaster
RHODE ISLAND
Providence Place · Providence
SOUTH CAROLINA
Columbiana Centre · Columbia
MASSACHUSETTS
Natick Mall · Natick (Boston)
MICHIGAN
The Crossroads · Portage (Kalamazoo)
Lakeside Mall · Sterling Heights (Detroit)
RiverTown Crossings · Grandville (Grand Rapids)
MINNESOTA
Apache Mall · Rochester
Crossroads Center · St. Cloud
Ridgedale Center · Minnetonka (Minneapolis)
River Hills Mall · Mankato
TEXAS
Baybrook Mall · Friendswood (Houston)
Deerbrook Mall · Humble (Houston)
First Colony Mall · Sugar Land (Houston)
Hulen Mall · Fort Worth
North Star Mall · San Antonio
The Parks at Arlington · Arlington (DFW)
The Shops at La Cantera · San Antonio
Stonebriar Centre · Frisco (DFW)
Town East Mall · Mesquite (DFW)
Willowbrook Mall · Houston
The Woodlands Mall · The Woodlands (Houston)
UTAH
GEORGIA
MISSOURI
Augusta Mall · Augusta
Cumberland Mall · Atlanta
North Point Mall · Alpharetta (Atlanta)
Oglethorpe Mall · Savannah
Peachtree Mall · Columbus
Perimeter Mall · Atlanta
The Shoppes at River Crossing · Macon
Columbia Mall · Columbia
Plaza Frontenac · St. Louis
Saint Louis Galleria · St. Louis
Fashion Place · Murray (Salt Lake City)
Newgate Mall · Ogden (Salt Lake City)
Provo Towne Centre · Provo
Red Cliffs Mall · St. George
NEBRASKA
VIRGINIA
HAWAII
NEVADA
Ala Moana Center · Honolulu (Oahu)
Prince Kuhio Plaza · Hilo (Big Island)
Whalers Village · Lahaina (Maui)
Fashion Show · Las Vegas
The Grand Canal Shoppes at The Venetian · Las Vegas
Meadows Mall · Las Vegas
The Shoppes at The Palazzo · Las Vegas
IDAHO
Boise Towne Square · Boise
Grand Teton Mall · Idaho Falls
ILLINOIS
Market Place Shopping Center · Champaign
Northbrook Court · Northbrook (Chicago)
Oakbrook Center · Oak Brook (Chicago)
Water Tower Place · Chicago
Oak View Mall · Omaha
Westroads Mall · Omaha
NEW JERSEY
Bridgewater Commons · Bridgewater
Paramus Park · Paramus
Willowbrook · Wayne
Woodbridge Center · Woodbridge
NEW MEXICO
Coronado Center · Albuquerque
Lynnhaven Mall · Virginia Beach
Tysons Galleria · McLean (Washington D.C.)
WASHINGTON
Alderwood · Lynnwood (Seattle)
Bellis Fair · Bellingham
NorthTown Mall · Spokane
Spokane Valley Mall · Spokane
Westlake Center · Seattle
WISCONSIN
Fox River Mall · Appleton
Mayfair · Wauwatosa (Milwaukee)
Oakwood Mall · Eau Claire
WYOMING
Eastridge Mall · Casper
NEW YORK
Staten Island Mall · Staten Island
2014 SUSTAINABILITY REPORT | 29
GRI DISCLOSURE INDEX
The Global Reporting Initiative (GRI) framework was used as guidance for the preparation of this report.
The GRI is a nonprofit organization that promotes economic, environmental, and social sustainabilit y.
It provides companies with a comprehensive reporting framework that is widely used around the world.
CONTENT DESCRIPTION
LOCATION/COMMENTS
STANDARD PROFILE DISCLOSURES
STRATEGY & ANALYSIS
1.1 Statement from most senior decision-maker of the organization
3
ORGANIZATIONAL PROFILE
2.1 Name of the Organization
5
2.2 Primary brands, products and/or services
5
2.3 Operational structure of the organization
5
2.4 Location of organizations headquarters
5
2.5 Number of countries where the organization operates
5
2.6 Nature of ownership and legal form
5
2.7 Markets served
5
2.8 Scale of reporting organization
5
2.9 Significant changes during reporting period
5
2.10 Awards received in the reporting period
26
REPORT PARAMETERS
3.1 Reporting period for information provided
7
3.2 Date of most recent previous report
7
3.3 Reporting cycle
7
3.4 Contact point for questions regarding the report
27
3.5 Process for defining report content
7
3.6 Boundary of the report
7
3.7 Specific limitations on the scope and boundary of the report
7
3.8 Basis for reporting on joint ventures, subsidiaries,
leased facilities, outsourced operations, and other entities
7
3.10 Explanation of any effect of any restatements of information
provided in earlier reports, and the reasons for such statements
7
3.11 Significant changes from previous reporting periods in the scope,
boundary, or measurements methods applied in the report
7
3.12 Table identifying the location of the standard disclosures in the report
30-31
GOVERNANCE, COMMITMENTS AND ENGAGEMENTS
4.1 Governance structure of the organization, including committees under the
highest governance body responsible for specific tasks, such as setting strategy
or organizational oversight
6
4.2 Indicated whether the Chair of the highest governance body is also
an executive officer
6
4.3 For organizations that have a unitary board structure, state the number of
members of the highest governance body that are independent and/or
non-executive members
6
4.4 Mechanisms for shareholders and employees to provide recommendations
or direction to the highest governance body
6
4.14 List of stakeholder groups engaged by the organization
7
4.15 Basis for identification and selection of stakeholders with whom to engage
7
30 | GENERAL GROWTH PROPERTIES, INC.
GRI DISCLOSURE INDEX, CONTD.
CONTENT DESCRIPTION
PAGE/LOCATION
PERFORMANCE INDICATORS
ECONOMIC
EC1 Direct economic value generated and distributed, including revenues, operating
costs, employee compensation, donations and other community investments,
retained earnings and payments to capital providers and governments
5
ENVIRONMENT
EN2 Percentage of materials used that are recycled or reused input materials
7,10,16,23
EN3 Direct energy consumption by primary energy source
9
EN4 Indirect energy consumption by primary energy source
9
EN5 Energy saved due to conservation and efficiency improvements
12,13,15
EN8 Total water withdrawal by source
10
EN22 Total weight of waste by type and disposal method
10
EN26 Initiatives to enhance efficiency and mitigate environmental impacts
of products and services, and extent of impact mitigation
11
SOCIAL
LA1 Total workforce by employment type, employment contract, and region
20
LA11 Programs for skills management and lifelong learning that support the
continued employability of employees and assist them in managing career endings
26
LA12 Percentage of employees receiving regular performance and career
development reviews by gender
26
LA13 Composition of governance bodies and breakdown of employees
per employee category according to gender, age group, minority group
membership, and other indicators of diversity
6,20
SOCIETY
SO1 Percentage of operations with implemented local community
engagement, impact assessments, and development programs
11,18,19
2014 SUSTAINABILITY REPORT | 31
29 | GENERAL GROWTH PROPERTIES, INC.