Development Goals into our ESG program, namely: Zero Hunger, Good Health and Well-Being, Gender Equality, Decent Work and Economic Growth and Climate Action. Through collaborative efforts with our stakeholders, our initiatives have contributed toward effecting positive change in all five areas.
We have implemented a suite of ESGroutinely reassess our plans and policies to informevaluate compliance with regional and guide our ESG strategy and goals, and plan to implement additional policiesnational requirements as part of a three-year ESG roadmap that will seek to align our ESG strategy withwell as industry best practices.
OurEnvironmental
We are dedicated to ensuring a sustainable and responsible approach to our operations. We prioritize the measurement, benchmarking, and reporting of our ESG roadmap provides short, mediumactivities, which have become an integral part of our overall business operations. We have implemented and long-term action items,plan to continue to implement policies and practices with the goal of supporting the continued reduction of energy (thereby reducing greenhouse gas emissions), water usage, and waste production across the portfolio. Initiatives we have taken include the installation of energy-efficient roofing, LED lighting retrofits, high efficiency HVAC systems, electric vehicle charging stations and waste recycling and management. Additionally, we continue to explore solar and alternative energy opportunities to further reduce our consumption and carbon footprint. Lastly, we use native landscaping at our properties because it creates a lasting, beneficial impact on the ecosystem.
We have implemented green lease language in all new leases, including strategy activities (establishing goals and targets and developing an environmental management system and environmental policies), implementation activities (data management and stakeholder engagement),several clauses designed to promote sustainability measures. Due to these efforts, Urban Edge received a Green Lease Leader award and recognition activities (corporate reporting). We seek to establish portfolio-level goalsfrom the Green Lease Leaders program developed by the Institute for Market Transformation (IMT) and targets (and track and report progress against such goals and targets), create an environmental management system, and implement the sustainability policies and plans that we have developed to date. Additionally, we aim to enhance tenant engagement by leveraging and expanding our tenant communication plans, which include surveys, newsletters and updates, to ensure that tenants are kept up to date on our ESG strategy.
In 2021, we reported to Global Real Estate Sustainability Benchmarks (“GRESB”), a mission-driven and industry-led organization that provides actionable and transparent ESG data to financial markets, for the first time. We believe that the practiceU.S. Department of gathering internal ESG data for reporting and consistently revisiting our performance will create transparency in our processes to baseline the data representing our ESG programs and to identify areas that could benefit from higher-impact strategies.
We published our inaugural ESG report in 2021. It provides more detail around our ESG strategy and goals and can be found on our website at https://investors.uedge.com. The information included on or accessible through our website is not incorporated by reference into this proxy statement.
Environmental InitiativesEnergy’s Better Buildings Alliance.
We are committed to maintaining sustainable operations across our portfolio and believe that our long-term sustainability goals will provide positive financial and environmental outcomes for shareholders, tenants, employees and the communities in which we invest. We are working closely with our stakeholders
Social
Our community involvement includes donations to various charitable organizations, hospitals, and consultants to establish greenhouse gas (GHG), water, and waste reduction targets, and we have undertaken a number of initiatives in an effort to make our portfolio both high-performing and sustainable.
LED Lighting Retrofits. In 2015, we began an initiative to upgrade site lighting throughout the portfolio, installing LED lighting technology to replace metal halide or high-pressure sodium fixtures, and lighting controls with photocell sensors and timers, which enable lights to be on only when needed. As of December 2021, approximately 90% ofrelief funds as well as hosting community focused events at our properties have been upgradedthat often include food and clothing drives. Many of these organizations and drives directly benefit the people and neighborhoods in which our properties are located. During 2023, the Company launched UE Cares, our volunteer initiative, which has partnered with local organizations to give back to our communities. Some of these local organizations include Helping Hands Food Pantry, Hackensack River Keeper, and St. John’s Soup Kitchen. Additionally, this year the Company hosted a blood drive, partnering with Vitalant Blood Donation of Paramus, at a cost of approximately $2.5 million.
Energy Efficient Roofing. All new roof replacements require the use energy efficient white roof membranes and increase insulation “R Value” to meet or exceed current building codes, which provides a significant reduction in energy consumption. As of December 2021, we have upgraded 40 properties at a cost of approximately $14 million.
Alternative Energy. A portion of Bergen Town Center, open to both employees and the general public. We continue to partner with Relief Access Program for the Bronx (“RAP4Bronx”) and Grassroots Grocery, two non-profit organizations focused on delivering meals to those affected by food insecurity in Paramus, New Jersey common area is servedthe five boroughs of NYC, by donating vacant space that serves as a photovoltaic (solar cell)warehouse and distribution hub for both organizations.
We believe that produces approximately 225,000 kilowatt-hour of renewable energy an annual basis. We are currently reviewing additional solar energy opportunities that will further reduce GHG emissions across the portfolio.
Waste Reduction and Management. We have robust tenant recycling programs atthrough our mall properties andbusiness, we are workingable to improve recycling programs at strip centerprovide the communities in which we operate a welcoming and mixed use properties by installing communal trash systems that providesafe environment for our tenants and customers to connect and engage with the ability to separate recyclable materials in an effort to divert waste from the landfill.
Social Initiatives
one another. We are committed to investingproviding a better shopping experience for our customers by spending capital to redevelop our centers, which also results in the creation of new jobs in construction and retail. Additionally, we are deliberate in our employees’leasing approach by adding necessary retailers to neighborhoods lacking vital resources and those that appeal to the respective communities where the properties are located.
Human Capital / Diversity, Equity and Inclusion Initiatives
At December 31, 2023, we had 109 employees. We believe that our people are our most valuable asset. Our future success will depend, in part, on our ability to continue to attract, hire, and retain qualified personnel. Accordingly, we strive to offer competitive salaries and employee benefits to all employees and monitor salaries in our market areas. We provide professional training and development workshops and aim to provide a workplace environment where employees are informed, engaged, feel empowered, and can succeed. Additionally, the Company launched a mentorship program designed to provide members of the team an opportunity to expand their knowledge and experience through one-on-one mentorship with an employee from another department. The goal of this initiative is to promote a culture of learning while providing opportunities for professional and personal development, and we strive to create a dynamic environment where all employees can achieve and contribute. Additionally, we recognize that our success is based on the attraction, retention, development, engagement and empowerment of a diverse pool of talent. As a result, we are committed to formalizing and growing diversity, equity, and inclusion efforts in our organization.growth.