CHICAGO, Sept. 3, 2013 /PRNewswire/ -- General Growth Properties (NYSE: GGP) today announced the unveiling of its inaugural GGP Sustainability report, now posted on GGP.com. The report focuses mainly on GGP's energy conservation initiatives, including the use of solar panels and food composting programs.
Highlights of the report include:
- Solar Panel Installations – GGP installed state-of-the-art solar panels on the rooftops of four GGP New Jersey malls. The panels provide 12% of the properties' energy needs at an estimated annual savings of approximately $650,000.
- Energy Management Systems – Over the past several years, GGP has installed Energy Management Systems (EMS) that collect output data from sub-meters; monitor tenant and building utility usage; and are essential to measuring energy efficiency at GGP centers.
- Food Composting – A handful of GGP malls have introduced food composting initiatives to their operations. Food composting not only keeps tons of waste out of local landfills every year, but it provides a much needed source of animal feed.
- Reuse and Recycle – As GGP malls undergo renovations and remodels, tons of fixtures and other hardware become available. The fixtures and hardware are often donated to local non-profit organizations or repurposed.
- Giving Back – Making our communities better places to live is equally important as conserving our natural resources.
General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing, and redeveloping high-quality retail properties throughout the United States. GGP's portfolio is comprised of 123 malls in the United States comprising approximately 128 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.
SOURCE General Growth Properties