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Sustainability Performance




Sustainability Performance



Our Better Places plan contributes to global carbon neutrality, with SBTi-approved targets to achieve net zero on Scopes 1 & 2 by 2030 and on Scopes 1, 2 & 3 by 2050, with a clear priority towards the reduction of our GHG emissions. We operate an efficient and resilient portfolio that minimises negative impact on resources and the environment, while accelerating urban regeneration by designing and retrofitting low-carbon, connected and inclusive urban places.




BETTER SPACES

Cut carbon emissions across our value chain by -50% by 2030





(1) Corrections have been made to the 2015 baseline and 2030 targets figures (for more details in the 2022 URD : 2.6.1.5 Continuous improvement of definitions and data quality improvement).

Reduce emissions from construction by -35 % by 2030



100% development projects to integrate a circular economy design solution by 2025

The requirement for the integration of circular economy design solutions in the development projects has been added in the Group Sustainability Brief in 2020 and will be closely monitored through a dedicated assessment tool.

100% development projects to include long-term climate risks, while minimising resource use and maintaining user comfort by 2025



Reduce emissions from operations by -80 % by 2030



Improve the energy efficiency of our assets by 30% by 2030





(1) Corrections have been made to the 2015 baseline and 2030 targets figures (for more details in the 2022 URD : 2.6.1.5 Continuous improvement of definitions and data quality improvement).

Multiply the installed capacity of on-site renewable energy five-fold by 2025



100% of our assets to include a climate change risk plan by 2022



Aim to send zero waste to landfill by 2025



Reduce emissions from transport by -40 % by 2030



50% of visitors to access Group assets by sustainable means of transport by 2030



100% development projects significantly connected to public transport solutions by 2025



Develop a Group Biodiversity Strategy by 2020

The Group Biodiversity Strategy has been developed in 2020 with, in addition to the two existing commitments, a new one on having 100% new development projects to achieve a biodiversity net gain by 2022.

100% standing assets with high biodiversity stakes to implement a biodiversity action plan by 2022



100% development projects to implement a biodiversity action plan by 2022



BETTER COMMUNITIES

At least €20 Mn of social value generated through community oriented programmes each year



€20 Mn of social value generated through community oriented programmes in 2021

100% of Flagship assets to support local entrepreneurship through commercial partnerships and regional networks by 2022



1,000 people to integrate a job or a qualifying training certification through the URW for Jobs programme from 2020 onwards





(1) Several shopping centres did not conduct URW for Jobs in 2021 due to the COVID-19 pandemic (closures and cancelled job events in line with governmental health and safety restrictions).

100% of Flagship assets to support at least one local charity or NGO-sponsored long-term project (>two years) by 2022



Collaborate with tenants to increase transparency of brands on health and sustainability, and to expand healthy and sustainable alternatives in 100% of Flagship assets by 2025

The Group pursued the integration of sustainable brands (brands integrating sustainability as heart of their processes and products) in its portfolio to enrich its alternative sustainable offer. In parallel, concrete discussions with retailers were undertaken (Viparis) on their sustainability policies, for the Group to engage and support their efforts when relevant.

100% of Flagship assets support and promote at least one sustainable consumption initiative by 2022



BETTER TOGETHER

100% of Group employees with individual sustainability objectives





(1) All employees having formalised objectives in the Group Human Resources performance assessment tool.

Achieve a 60/40 gender balance by 2025 in senior management roles



Improve employee engagement on Diversity and Inclusion

The Group Employee Pulse Survey was rolled out to all employees, with 65% of respondents strongly stating that URW is committed to diversity and inclusion. The survey is rolled out each year.

Develop and roll-out Groupwide leadership and management programmes integrating sustainability by 2022

In 2022, URW hosted a Leadership Working Session for the Top 100 Senior Leader population. This full 2-day programme focused on sustainability and included a deep dive into the impact of climate change, carbon net zero, sustainable design and construction, and sustainable consumption.

100% of Group employees to have participated in sustainability training by 2022



100% of Group employees take part in the URW Volunteering Programme annually from 2020 onwards



100% of our countries to implement Work Greener and employee Well-being programmes from 2020 onwards







ESG indices, ratings and awards



Unibail-Rodamco-Westfield is constantly recognised for its sustainability and performance. Our ESG performance is regularly assessed by analysts, researchers, investors and third-party certification bodies that rank us as one of the most sustainable companies in the industry.



ESG INDICES, RATINGS AND AWARDS
CDP Climate Change A List

CDP Climate Change A List



URW was highlighted as a global leader on corporate climate action by global environmental impact non-profit CDP achieving a place on the CDP Climate Change A List (score on a scale of A to D-) in 2022 for the fifth year in a row(1)

More information on CDP here

(1) Click here
CDP Supplier Engagement Leaderboard

CDP Supplier Engagement Leaderboard



In March 2023, URW was again identified as a global leader for engaging with its suppliers on climate change, being awarded a position on the 2022 Supplier Engagement Leaderboard by global environmental impact non-profit Carbon Disclosure Project (CDP). URW was recognised to be among the top 8% of organisations assessed by the CDP.

MCSI

MCSI



In 2022, and for the nineth year in a row, URW obtained the highest rating of AAA (on a scale of AAA to CCC) in the MSCI ESG ratings assessment.

In December 2022, MSCI confirmed the presence of URW in the following ESG indices: MSCI Global Green Building, MSCI World ESG Leaders, MSCI Europe ESG Leaders, MSCI France ESG Universal, and MSCI World Low Carbon leaders.

More information on MCSI ESG ratings, ratings and awards here

ISS ESG Corporate rating

ISS ESG Corporate rating



URW reconfirmed its B rating in September 2022 and received again the Prime status awarded to companies with an ESG performance above the sector-specific Prime threshold. URW also conserved its leader position in the 1st decile rank comparing its performance relatively to its industry peers.

More information on ISS ESG here.

Sustainalytics

Sustainalytics



In October 2022, URW received an ESG Risk Rating of 4.7 and was assessed by Sustainalytics to be at Negligible risk of experiencing material financial impacts from ESG factors. URW’s ESG Risk Rating by Sustainalytics places the Group at the 2nd rank and in the 1st percentile of the Real Estate Industry group assessed by Sustainalytics, as well as at the 7th rank in the global rated universe (15,000+ companies). URW’s management score of ESG issues assessed by Sustainalytics is strong (81.9/100).

URW is also included in Sustainalytics’ list of 2023 Top-Rated of ESG Companies for the “ESG Global 50 Top-Rated”, “ESG Industry Top-Rated” and the “ESG Regional Top-Rated” categories.

More information on Sustainalytics here.

Moody’s ESG Solutions (formerly V.E)

Moody’s ESG Solutions (formerly V.E)



In 2022, URW was rated 67/100 for its global ESG performance, positioning the Group at an advanced performance level, and ranked 3rd in its sector (Financial Services – Real Estate).

More information on V.E here

GRESB (Global Real Estate Sustainability Benchmark)

GRESB (Global Real Estate Sustainability Benchmark)



In 2022, the Group received a ‘5 Star’ rating, which recognises entities with the highest performance levels in the GRESB benchmark. URW ranked among the top 20 rated entities worldwide.

More information on GRESB here

Euronext ESG Indices

Euronext ESG Indices



In November 2022, the Group was reconfirmed in the World 120, Europe 120, Eurozone 120 and France 120 Euronext Vigeo indices (since 2013).

It is also a component of the following ESG indices: CAC 40 ESG, Euronext CDP Environment ESG Eurozone, Euronext Green Planet France, Euronext Equileap Gender Equality Eurozone 100.

For further information on the inclusion of URW in Euronext’s ESG indices, please consult the following link.

FTSE4Good Index series

FTSE4Good Index series



The June 2022 Index Review reconfirmed Unibail-Rodamco-Westfield as a member of the FTSE4GOOD Index Series (since 2005).

More information on FTSE4Good here

Solactive Corporate Social Responsibility Indices

Solactive Corporate Social Responsibility Indices



URW has been confirmed as part of the Solactive Europe Corporate Social Responsibility Index and the Solactive Global Corporate Social Responsibility Index (formerly the Ethibel Sustainability Index Excellence Europe and the Ethibel Sustainability Index Excellence Global of which URW is part since 2011).

ECPI Indices (since 2007)

ECPI Indices



In December 2022, Unibail-Rodamco-Westfield was confirmed for inclusion in the following ECPI® indices: ECPI EMU Ethical Price Index, ECPI Euro ESG Index, ECPI Global ESG Gender Equality Index, ECPI World ESG Index.

More information on ECPI here

EPRA Gold Award

EPRA Gold Award



The EPRA (European Public Real Estate Association) has developed its Best Practices Recommendations on Sustainability Reporting (sBPR). For the eleventh time in a row, Unibail-Rodamco-Westfield received the EPRA Gold Award in 2022 for completing its 2021 reporting in accordance with the EPRA Sustainability.