Tanger® (NYSE:SKT), a leading owner and operator of outlet and open-air retail shopping destinations, has released its 2024 Impact Report for the annual period ending December 31, 2024.
"Tanger's values of integrity, inclusion, and innovation guide the decisions and initiatives that drive our collective impact. In 2024, we deepened our community engagement, empowered our team, and advanced sustainability with a focus on mitigating risk and driving value for our stakeholders," said Stephen Yalof, President and Chief Executive Officer. "I'm proud of our team's dedication to creating vibrant shopping destinations and resilient communities—and grateful for the trust of our stakeholders as we build a more connected, inclusive future together."
Tanger's 2024 Impact Report, which is its ninth report on corporate responsibility initiatives, enumerates the environmental, social, and governance practices and programs—referenced collectively as Tanger's "Impact Program"—through which the company strives to create positive social and economic impact in line with its Mission, Vision, and Values. The Report highlights Tanger's recent achievements and progress on its Impact Program goals, including:
- Ongoing efforts to foster an organizational culture where performance, growth, and the expression of Tanger's values are recognized and rewarded, including providing nearly 5,000 hours of annual professional growth and training for Tanger team members in 2024.
- The expansion of initiatives to promote belonging and empowerment within the company's diverse workforce, including those championed by Tanger's employee-founded-and-led Employee Resource Groups (ERGs), which are open to all employees.
- Ongoing support for the communities in which Tanger operates through multiple TangerCares initiatives, including the company's legacy TangerPink and TangerKids programs and nearly 7,500 hours of company-sponsored employee volunteer service.
- A 13% increase in Tanger's solar energy generation capacity, increasing its total solar capacity to 15.5 MW across 11 centers.
- Completion of a formal data assurance readiness assessment to improve data integrity and plan for state-level climate disclosure legislation, as well as a double materiality assessment to identify the most impactful and financially material environmental, social, and governance topics to Tanger's business and stakeholders.
- Completion of expanded enterprise and asset-level climate scenario analysis, restatement of Tanger's greenhouse gas (GHG) emissions baseline to align with standard methodologies, and inaugural limited disclosure of the company's Scope 3 footprint.
Tanger's Impact Program reporting process continues to be guided by respected standards and reporting frameworks, including the Global Reporting Initiative (GRI) Standards, the IFRS Sustainability Disclosure Standards (specifically IFRS S2, which consolidates the recommendations of the former Task Force on Climate-related Financial Disclosures), and the Sustainability Accounting Standards Board (SASB). Tanger also discloses through third-party reporting frameworks including the Global Real Estate Sustainability Benchmark (GRESB), CDP (formerly the Carbon Disclosure Project), and the United Nations Global Compact (UNGC).
Tanger's 2024 Impact Report is now available on its company website at investors.tanger.com/impact-program-reporting.
About Tanger®
Tanger Inc. (NYSE:SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 44 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 37 outlet centers and three open-air lifestyle centers comprises 16 million square feet well positioned across tourist destinations and vibrant markets in 21 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit www.tanger.com.
The Company uses, and intends to continue to use, its Investor Relations website, which can be found at investors.tanger.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about the Company can also be found through social media channels. The Company encourages investors and others interested in the Company to review the information on its Investor Relations website and on social media channels. The information contained on, or that may be accessed through, our website or social media platforms is not incorporated by reference into, and is not a part of, this document.
Safe Harbor Statement
This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," or similar expressions.
These forward-looking statements are based upon the beliefs and expectations of management at the time of this release. You should not rely on forward-looking statements since they involve known and unknown risks and uncertainties which could cause actual results to differ materially from those presented in the forward-looking statements. Please refer to the documents filed by the Company with the SEC, including specifically the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and the Company's other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
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