Unibail-Rodamco-Westfield
Retail REITs
France
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 b
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- Provide a detailed account of the decarbonisation levers identified and the key actions planned within your transition plan for climate change mitigation. This should include references to your GHG emission reduction targets and climate change mitigation actions, as specified in Disclosure Requirements E1-4 and E1-3. Additionally, elucidate any changes anticipated in your product and service portfolio, as well as the adoption of new technologies within your operations or across the upstream and/or downstream value chain.
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Question Id: E1-1_03
URW has identified several levers for reducing carbon emissions:
Scopes 1 and 2 Emissions:
- Scope 1: Emissions are mainly caused by natural gas consumption and refrigerant fluid leakage. Actions include increasing the air conditioning setpoint, implementing leakage sensors, and replacing refrigerant fluids.
- Scope 2: Emissions are related to electricity consumption. Actions include purchasing renewable electricity, increasing onsite renewable energy production, and setting an energy intensity reduction target of -50% by 2030.
Scope 3 Emissions:
- Customer Transportation: Focus on improving public transport connectivity and increasing the use of electric vehicles.
- Downstream Leased Assets: Engage tenants to reduce energy consumption by ensuring 80% of electricity comes from renewable sources and reducing energy intensity by 25%.
- Investment: Implement low-carbon construction guidelines.
URW's targets include reducing GHG emissions by -90% by 2030 for Scopes 1 and 2, and by 2050 for Scope 3. The company plans to adopt new technologies and improve energy efficiency across its operations and value chain.
Report Date: 4Q2023Relevance: 90%