URW came up with its first climate mitigation approach in 2007, with quantitative targets for the reduction of its carbon emissions and energy consumption. Between 2008 and 2015, URW had already achieved a cumulative reduction of 33.8% of its energy intensity and 65.1% of its carbon intensity. In 2016, the Group took up a new long-term challenge, with its Better Places 2030 programme. In 2016, the Group was the first listed real estate company to address the wide scope of indirect carbon emissions resulting from construction works, transportation of visitors and employees, and energy consumption by tenants. Unless otherwise stated, the GHG emission figures and targets used in this chapter are expressed using the market-based methodology to highlight the efforts made by the Group in selecting its energy suppliers. In October 2023, URW communicated its updated Better Places sustainability roadmap including its commitment to contribute to global carbon neutrality with new science-based net zero targets on Scopes 1, 2 and 3. URW became the first retail real estate company in the EU and sixth CAC 40 company to obtain SBTi approval of net zero targets. URW's approach to contribute to global carbon neutrality follows the requirements of both the SBTi criteria for net zero targets (in line with the "Corporate Net-Zero Standard", published in April 2023), and the Paris Agreement 1.5°C pathway initiative. It follows the 3 main objectives: REDUCE; by cutting its carbon emissions at the level expected by science; AVOID; by helping its value chain reducing their own carbon emissions; and REMOVE; by neutralising any residual emissions left after the reduction of its carbon emissions. URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

The percentage reduction in Scope 1 Greenhouse gas emissions compared to the base year 2015 is -32% for both location-based and market-based methods.

The percentage reduction in Scope 1 Greenhouse gas emissions compared to the base year 2015 is -32% for both location-based and market-based methods.

URW commits to reach net zero GHG emissions across its value chain by 2050. URW has pledged to reduce its footprint by -90% in absolute terms by 2050 compared to 2015 and to neutralise residual emissions through high-quality and sustainable carbon removal actions. These efforts are compatible with a global 1.5°C pathway, the most ambitious objective of the Paris Agreement. URW's targets and net zero commitment cover the Group's retail (Shopping Centres) and Offices activities globally.

The percentage reduction in location-based Scope 2 GHG emissions relative to the base year 2015 is -37%.