As of today, URW does not apply any internal carbon pricing scheme. URW is committed to not relying on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions.

The Climate fund for Nature (MIROVA) project, based on a contractual agreement, is expected to have 598,000 tCO2e in total planned to be cancelled in the future according to Net-Zero targets. Credits will be certified and audited to the highest quality standards and in accordance with VCS, CCBS, Gold Standard or equivalent other standard.

URW is committed to not relying on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions. Credits from the Climate fund for Nature (MIROVA) project will be certified and audited to the highest quality standards and in accordance with VCS, CCBS, Gold Standard or equivalent other standard.

The development project using timber is described as a biogenic project within URW shopping centres, 2023-2030. Other projects do not specify whether they are biogenic or technological.

URW is committed to reaching net zero on its Scopes 1 and 2 by 2030 and on its Scopes 1, 2 and 3 by 2050. The Group is prioritising the reduction of its own GHG emissions, through ambitious reduction targets (at least -90% by 2030 on Scopes 1 and 2 and by 2050 on Scopes 1, 2 and 3, with both targets from a 2015 baseline in absolute value of carbon emissions equivalent). URW will continue exploring opportunities to deal with its Scope 3 residual emissions (for 2050 onwards) prioritising removals within its own value chain. In any case, URW does not and will not rely on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions.

In relation to URW carbon neutrality strategy, as part of its net zero targets, URW is committed to: increasing the level of avoided emissions within and outside of its value chain, meaning helping other stakeholders reducing their own carbon emissions; and permanently neutralising residual emissions at the net zero target year.

URW is committed to reaching net zero on its Scopes 1 and 2 by 2030 and on its Scopes 1, 2 and 3 by 2050, prioritising the reduction of its own GHG emissions through ambitious reduction targets (at least -90% by 2030 on Scopes 1 and 2 and by 2050 on Scopes 1, 2 and 3, with both targets from a 2015 baseline in absolute value of carbon emissions equivalent). URW will not rely on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets.

URW is committed to permanently neutralising residual emissions at the net zero target year and GHG emissions released into the atmosphere thereafter. URW will continue exploring opportunities to deal with its Scope 3 residual emissions (for 2050 onwards) prioritising removals within its own value chain. URW does not and will not rely on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions.

URW is committed to reaching net zero on its Scopes 1 and 2 by 2030 and on its Scopes 1, 2 and 3 by 2050, prioritising the reduction of its own GHG emissions through ambitious reduction targets (at least -90% by 2030 on Scopes 1 and 2 and by 2050 on Scopes 1, 2 and 3, with both targets from a 2015 baseline in absolute value of carbon emissions equivalent). URW will not rely on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions.

Credits will be certified and audited to the highest quality standards and in accordance with VCS, CCBS, Gold Standard or equivalent other standards.