Unibail-Rodamco-Westfield
ESRS disclosure
Tags Tree
- Provide a detailed description of the internal functions involved in managing impacts, specifying the types of actions these functions undertake to mitigate negative impacts and promote positive impacts. Include information on the process for setting targets related to managing material negative impacts, advancing positive impacts, and addressing material risks and opportunities. Clarify whether and how the undertaking engaged with consumers, end-users, their legitimate representatives, or credible proxies during this process.
-
Question Id: S4-4_18
URW aims to obtain the Better Places Certification for 10 European assets by 2025 and for all assets by 2027. The certification integrates the Sustainability Retail Index results, which URW plans to deploy to 100% of its eligible revenues by 2027. The eligible revenues are based on inclusions in Minimum Guaranteed Rent (MGR) from the following categories of retailers: Fashion, Sport Apparel, Jewellery, Bags & Footwear & Accessories, Health and Beauty, Home, Culture & Technology, and Food & Beverage. By 2025, all assets will host at least 1 annual campaign or event to raise sustainable awareness, such as the Westfield Good Festival.
Report Date: 4Q2023Relevance: 35%
- Provide a detailed account of whether consumers and end-users were directly involved in the process of setting targets, and if so, describe the methods and extent of their engagement.
-
Question Id: S4-5_01
To understand sustainability perceptions, needs and expectations within the Group’s shopping centres, URW conducts customer surveys with the loyalty database since 2020 with a specific focus on sustainability-related topics. With the Westfield Brand Tracker, URW also tracks sustainability perceptions and expectations for those living within the catchments of Westfield branded assets, on a quarterly basis since the third quarter of 2022. Key takeaways and results from both programmes are leveraged to strengthen the Company’s customer actions. The collaboration with retailers is crucial to match customer needs on local production, sustainable materials, local initiatives and partnerships with local associations or actors. The yearly tenant satisfaction surveys in each shopping centre were pursued in 2023 in Continental Europe and the UK, to gather the tenants’ feedback on key topics such as accessibility, marketing, security, cleaning, services, sustainability and management of the shopping centre. 61% of the tenants participated in the survey (5,400 responses), and they expressed an overall satisfaction of 76%. The URW “Connect” application importantly improves day-to-day relations between the centres, tenants and suppliers. The application is used regularly to engage and get feedback of tenants and their satisfaction regarding new services or events. Launched in 2016, the application is regularly reviewed and updated.
Report Date: 4Q2023Relevance: 65%
- Provide a detailed account of the process employed by your organization in setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specifically, disclose whether and how your organization engaged directly with consumers and/or end-users, their legitimate representatives, or credible proxies with insight into their situation, in tracking the organization's performance against these targets.
-
Question Id: S4-5_02
The goal for 2024 is to obtain the Better Places Certification for 10 European assets, and for all assets by 2027. The Better Places Certification integrates the Sustainability Reporting Index results, which URW plans to deploy to 100% of its eligible revenues by 2027. The eligible revenues are based on innovations in Minimum Guaranteed Rent (MGR) from the following categories of retailers: Fashion, Sport Apparel, Jewellery, Bags & Footwear & Accessories, Health and Beauty, Home, Culture & Technology, and Food & Beverage. By 2025, all assets will host at least 1 annual campaign or event to raise sustainable awareness, such as the Westfield Good Festival. Finally, in 2024, the Westfield Grand Prix will be deployed to a new country.
Report Date: 4Q2023Relevance: 40%
- Has the undertaking disclosed the process for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities, specifically detailing whether and how direct engagement with consumers and/or end-users, their legitimate representatives, or credible proxies was conducted in identifying any lessons or improvements resulting from the undertaking's performance?
-
Question Id: S4-5_03
To understand sustainability perceptions, needs and expectations within the Group’s shopping centres, URW conducts customer surveys with the loyalty database since 2020 with a specific focus on sustainability-related topics. With the Westfield Brand Tracker, URW also tracks sustainability perceptions and expectations for those living within the catchments of Westfield branded assets, on a quarterly basis since the third quarter of 2022. Key takeaways and results from both programmes are leveraged to strengthen the Company’s customer actions. The collaboration with retailers is crucial to match customer needs on local production, sustainable materials, local initiatives and partnerships with local associations or actors. The yearly tenant satisfaction surveys in each shopping centre were pursued in 2023 in Continental Europe and the UK, to gather the tenants’ feedback on key topics such as accessibility, marketing, security, cleaning, services, sustainability and management of the shopping centre. 61% of the tenants participated in the survey (5,400 responses), and they expressed an overall satisfaction of 76%. The URW “Connect” application importantly improves day-to-day relations between the centres, tenants and suppliers. The application is used regularly to engage and get feedback of tenants and their satisfaction regarding new services or events. Launched in 2016, the application is regularly reviewed and updated.
Report Date: 4Q2023Relevance: 80%
- Provide a detailed account of the process your organization employs to establish targets concerning the management of significant negative impacts, the promotion of positive impacts, and the handling of substantial risks and opportunities. Specify whether and how your organization has engaged directly with consumers and/or end-users, their legitimate representatives, or credible proxies with insights into their circumstances. Additionally, when disclosing targets related to consumers and/or end-users, articulate the intended outcomes to be achieved in their lives, ensuring specificity in your response.
-
Question Id: S4-5_04
The goal for 2024 is to obtain the Better Places Certification for 10 European assets, and for all assets by 2027. The Better Places Certification integrates the Sustainability Reporting Index results, which URW plans to deploy to 100% of its eligible revenues by 2027. The eligible revenues are based on innovations in Minimum Guaranteed Rent (MGR) from the following categories of retailers: Fashion, Sport Apparel, Jewellery, Bags & Footwear & Accessories, Health and Beauty, Home, Culture & Technology, and Food & Beverage. By 2025, all assets will host at least 1 annual campaign or event to raise sustainable awareness, such as the Westfield Good Festival. Finally, in 2024, the Westfield Grand Prix will be deployed to a new country.
Report Date: 4Q2023Relevance: 40%
- Provide a detailed account of the process your organization employs to establish targets concerning the management of material negative impacts, the promotion of positive impacts, and the handling of material risks and opportunities. Specify whether and how your organization has engaged directly with consumers and/or end-users, their legitimate representatives, or credible proxies with insight into their situation. Additionally, when disclosing targets related to consumers and/or end-users, elucidate on the stability of these targets over time, particularly in terms of definitions and methodologies, to ensure comparability.
-
Question Id: S4-5_05
The goal for 2024 is to obtain the Better Places Certification for 10 European assets, and for all assets by 2027. The Better Places Certification integrates the Sustainability Reporting Index results, which URW plans to deploy to 100% of its eligible revenues by 2027. The eligible revenues are based on innovations in Minimum Guaranteed Rent (MGR) from the following categories of retailers: Fashion, Sport Apparel, Jewellery, Bags & Footwear & Accessories, Health and Beauty, Home, Culture & Technology, and Food & Beverage. By 2025, all assets will host at least 1 annual campaign or event to raise sustainable awareness, such as the Westfield Good Festival. Finally, in 2024, the Westfield Grand Prix will be deployed to a new country.
Report Date: 4Q2023Relevance: 50%
- Provide a detailed account of the process your organization employs to establish targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specify whether and how your organization has engaged directly with consumers, end-users, their legitimate representatives, or credible proxies with insight into their situation. Additionally, clearly define the standards or commitments upon which these targets are based, such as codes of conduct, sourcing policies, global frameworks, or industry codes.
-
Question Id: S4-5_06
The goal for 2024 is to obtain the Better Places Certification for 10 European assets, and for all assets by 2027. The Better Places Certification integrates the Sustainability Reporting Index results, which URW plans to deploy to 100% of its eligible revenues by 2027. The eligible revenues are based on innovations in Minimum Guaranteed Rent (MGR) from the following categories of retailers: Fashion, Sport Apparel, Jewellery, Bags & Footwear & Accessories, Health and Beauty, Home, Culture & Technology, and Food & Beverage. By 2025, all assets will host at least 1 annual campaign or event to raise sustainable awareness, such as the Westfield Good Festival. Finally, in 2024, the Westfield Grand Prix will be deployed to a new country.
Report Date: 4Q2023Relevance: 50%
- Has the undertaking ensured that all consumers and end-users who are likely to be materially impacted by its operations, value chain, products, services, and business relationships are included within the scope of disclosure under ESRS 2 SBM-3, in accordance with paragraph 48? Furthermore, provide the additional information required under this disclosure requirement.
-
Question Id: S4.SBM-3_01
As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.
Report Date: 4Q2023Relevance: 60%
- Provide a comprehensive account of whether all consumers and/or end-users potentially subject to material impacts by your undertaking, including those affected through your operations, value chain, products, services, and business relationships, are encompassed within the scope of your disclosure under ESRS 2. Additionally, furnish a succinct description of the types of consumers and/or end-users experiencing material impacts due to your operations or value chain, and specify their characteristics.
-
Question Id: S4.SBM-3_02
As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.
Report Date: 4Q2023Relevance: 60%
- Does the undertaking include all consumers and/or end-users likely to be materially impacted by its operations, products, services, or business relationships within the scope of its disclosure under ESRS 2? Additionally, provide a brief description of the types of consumers and/or end-users subject to material impacts by the undertaking's own operations or through its value chain, specifying their characteristics.
-
Question Id: S4.SBM-3_03
As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.
Report Date: 4Q2023Relevance: 60%