Both Bitcoin and Online Shopping Are Poor for the Environment
Simon Property Group (NYSE: SPG) addresses the environmental impact of both Bitcoin mining and online shopping.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Simon Property Group (NYSE: SPG) addresses the environmental impact of both Bitcoin mining and online shopping. The company emphasizes that in-store shopping is a more sustainable option, claiming that shoppers can help the environment by choosing local retail outlets. Simon has reduced its carbon footprint by over 50% since 2003 and plans to lower emissions by an additional 68% by 2035. The company also highlights initiatives such as increased EV charging stations and solar energy systems aimed at promoting sustainability.
Positive
- Reduced carbon footprint by over 50% since 2003; 32% since 2013.
- Water consumption reduced by 18.5% since 2013.
- Increased EV stations from 400 in 2017 to 995 in 2020.
- Installed 10 solar PV systems generating over 2M kWh of clean energy.
- Plans to reduce carbon emissions by 68% by 2035.
Negative
- None.
Details
News Market Reaction – SPG
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INDIANAPOLIS, May 13, 2021 /PRNewswire/ -- Bitcoin mining and online shopping are both having a negative impact on the environment.
"Recent news coverage highlighted the adverse impact of Bitcoin mining on the environment," said John Rulli, Chief Adminstrative Officer, Simon. "We want to take this opportunity to reinforce that online shopping is also negatively impacting the environment. Where you shop matters. Stores are the most sustainably friendly option in retail, and shoppers can help the environment by doing what they like best—shopping with friends and family at the favorite shopping center."
Simon is committed to protecting the environment and has substantially reduced its overall carbon footprint.
- Reduced our carbon footprint by over 50 percent (2003-2019); by 32 percent since 2013
- Reduced water consumption by 18.5 percent since 2013
- Executing recycling programs at all centers
- More than doubled our EV stations from 400 (2017) to 995 (2020) EV Stations
- Installed 10 onsite solar PV renewable energy systems providing over 2M kWh (2000 mWh) of clean energy
And, as part of its ongoing sustainability efforts, Simon has set goals to lower its carbon emissions an incremental 68 percent by 2035 (vs. 2019).
For more information on Simon's sustainability initiatives and the environmental benefits of shopping in store, click here.
About Simon
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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SOURCE Simon
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