Tanger Outlets Provides Update on Environmental, Diversity Efforts

10/19/20

By Cole Batchelor, NC Biz News

Tanger Factory Outlet Centers, one of the largest players in the outlet industry, today released its 2019 Tanger Corporate Responsibility Report, which highlights the company’s efforts and progress concerning environmental, social and governance (ESG) matters.

“Tanger actively embraces corporate responsibility,” said Steven B. Tanger, CEO of Tanger Outlets. “Our practices reflect our culture, demonstrate resilience, and focus on long-term value creation for all of our stakeholders, including shareholders, retail partners, employee team members, customers and community partners.”

According to the report, Tanger’s environmental efforts resulted in a 5.7 percent decrease in greenhouse gas emissions at store centers than the year prior and an 11.4 percent decrease since the company started reporting in 2016.

Additionally, Tanger said that more than 30 percent of its centers have now achieved LEED gold certification. Tanger has boosted its free electric vehicle charging by more than 40 percent compared to the prior year.

The 2019 Tanger Corporate Responsibility Report also highlighted diversity efforts. The company reported that 87 percent of field employees and 53 percent of Tanger’s executive leadership team are women. The report showed that 23 percent of the company’s workforce is ethnically diverse.

At the boardroom level, 20 percent of the directors are female, while 10 percent are an ethnic minority.

In the report, Tanger said that while it doesn’t follow a ratio or formula for its board representation, it’s committed “to increasing gender and racial diversity among directors over time” and “including highly qualified women and minority candidates in each search the Board undertakes.”

Tanger Factory Outlet Centers operates and owns, or has an ownership interest in, a portfolio of 38 outlet shopping centers located in 20 states and Canada.

Shares of Tanger Factory Outlet Centers (SKT) were last trading a penny higher at $6.12.

The report is available here (PDF).

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